Logo of Phnom Penh Post newspaper Phnom Penh Post - Securities regulator gives go-ahead to four more fund managers

Securities regulator gives go-ahead to four more fund managers

Securities regulator gives go-ahead to four more fund managers

The Security and Exchange Commission of Cambodia (SECC) will soon issue licences to four new fund management companies.

SECC director-general Sou Socheat confirmed to The Post on Thursday that the SECC has, in principle, approved a licence for AU Reits Co Ltd, Ants Capital Co Ltd, IS4KH Asset Management Plc and Belt Road Capital Management (Cambodia) Co Ltd.

“We require the companies to fulfil additional documents in order to officially receive a licence. We gave them one month to complete their application,” he said.

Socheat defined a fund management company as a business which enters into “joint ventures” with public participation to fund projects and share their benefits.

He said the SECC has issued five licences to fund management companies in the first quarter of this year.

The SECC also gave the green light to four trustee companies – Offshore Capital Trustee Co Ltd, Yuanhan Trust Investment Co Ltd, Prince Trust Co Ltd and GCCT Co Ltd.

Three brokers companies were approved as well – STMarket Co Ltd, Commo T Co Ltd and Universal Derivatives Exchange Co Ltd.

In February, the SECC issued fund management licences to Aegies Fund Management Plc and PLMP Venture Capital Co Ltd.

SECC deputy director-general Sok Dara told The Post in February that the licence grants them the right to raise funds from the public to invest in the Kingdom, noting that their projects must be registered with the SECC.

“It is a good sign that Cambodia is attracting more investors. This reflects strong growth in the fund management sector,” Dara said.

He said there has been a huge increase in market participants, such as the five central counterparties in the derivatives market, the 27 derivative brokers and the seven fund management companies licensed this year.

Market capitalisation increased 157 per cent last year to $800.39 million, said the SECC. Currently, there are five companies issuing shares and three companies issuing bonds.

The number of investors increased to 22,338. The average trading volume is 1,750,502 shares per month, equal to $4,221,490 per month, it said.

MOST VIEWED

  • Five-year-old Hanuman dances his way into hearts of Cambodia

    A young talent from a new-established settlement has emerged, captivating the online world with his mesmerising performances of the traditional Cambodian monkey dance. Roeun Kakada is a five-year-old prodigy who has taken the social media sphere by storm with his exceptional dance skills and dedication

  • Fresh Covid warnings as Thai hospital fills

    A senior health official reminds the public to remain vigilant, as neighbouring countries experience an increase in Covid-19 cases, with the latest surge appearing to be a result of the Omicron XBB.1.5 sub-variant. Or Vandine, secretary of state and spokeswoman for the Ministry of Health,

  • Honda shutters Siem Reap football club

    Japanese football legend Keisuke Honda, the owner of Siem Reap football club Soltilo Angkor FC, has been forced to shut the club down, after it failed to attract sponsorship for the upcoming season. Honda, the former manager of the Cambodia men's national football team, said

  • Hun Sen warns of regional tensions

    ASIA is becoming a dangerous geopolitical hotspot, with several countries announcing that they intend to send naval vessels towards Southeast Asia and on to the South China Sea, warned Prime Minister Hun Sen. “Heated geopolitical issues can easily escalate, namely to war. I am not

  • PM declares ASEAN Para Games open

    The 12th ASEAN Para Games officially kicked off on the evening of June 3 at Morodok Techo National Stadium in Phnom Penh, with a spectacular opening ceremony featuring fireworks and performances by some of the Kingdom’s most accomplished talents. Tens of thousands of sports fans

  • Waterway job still pending for Kampot tourism port’s opening

    The search is still on for a contractor to expand and deepen the Kampot International Tourism Port’s waterway and deliver additional enhancements allowing safe access for larger vessels, nearly a year after the main construction work on the 4.25ha site was completed on June 30, 2022.