A ringing of the bell event takes place at the Cambodia Securities Exchange (CSX) on June 28 to mark MJQE’s successful listing on the local bourse’s Main Board. Hong Menea
Mengly J Quach Education Plc (MJQE) has reported strong business performance for the third quarter, amid a general economic downturn.
MJQE became the first educational company to list on the Cambodia Securities Exchange (CSX) on June 28, successfully raising over $5 million through its initial public offering (IPO) on the local bourse’s Main Board.
In its latest financial statement to the CSX on November 3, the company disclosed that its revenue for Q3 2023 exceeded 31.249 billion riel ($7.628 million), marking a sharp increase of more than 9 billion riel (over $2.198 million) in Q2.
This represents a 41% growth when compared with Q3 2022, which recorded revenues of more than 22.197 billion riel ($5.42 million).
The company’s operating profit witnessed a substantial rise of more than 2.647 billion riel ($645,262), an increase of 290% from Q2’s 911.62 million riel ($224,260) to Q3’s 3.559 billion riel ($867,733).
“Despite the seasonal dip typically seen in the third quarter, exasperated by the absence of American Intercon School (AIS) revenue during their summer break, we have managed to substantially elevate our operational efficiency this fiscal year, resulting in a significant enhancement of our bottom line,” stated Quach Mengly, MJQE’s chairman and CEO.
He pointed out that the net loss for Q3, compared to Q2, was markedly lower by 1.637 billion riel ($399,342), a 61% decrease from a loss of 2.696 billion riel ($657,981) in Q2 to 1.059 billion riel ($258,457) in Q3.
Hong Sokhour, CEO of the CSX, previously stated that they are in the process of reviewing an application from an educational sector company seeking a green bond listing.
“The company has already filed for eligibility and we’ve been assessing their application for nearly two months. We anticipate making a decision shortly,” he said, though he did not disclose the firm’s name.
Since its inception in 2012, the CSX has listed a total of 20 companies, with 11 issuing shares. Of these, nine are featured on the Main Board and two on the Growth Board. Nine other firms have released corporate bonds on the stock market, as per the Securities and Exchange Regulator of Cambodia (SERC).
