Securities and Exchange Regulator of Cambodia director-general Sou Socheat (centre left) and China Development Institute vice-president Qu Jian (centre right) hold up copies of the freshly-signed MoU. PHOTO SUPPLIED
The Securities and Exchange Regulator of Cambodia (SERC) has joined forces with Shenzhen-based think tank China Development Institute (CDI) and Cayman Islands-headquartered cryptocurrency light-contract platform provider MoonXBT Global Ltd to enhance human resource development in the securities sector and create new digital assets and other financial instruments.
Two memorandums of understanding (MoU) were signed to this effect on October 11 by SERC director-general Sou Socheat, CDI vice-president Qu Jian, and MoonXBT Global Indonesia country manager Anderson, who like many Indonesians goes by only one name.
The SERC and CDI signed an MoU on “The Development of Securities Market in Cambodia”, while the regulator inked the other deal on “Cooperation on Raising Awareness and Human Resource Development in the Securities Sector in Cambodia” with MoonXBT Global.
Speaking at the signing ceremony, Socheat said: “The purpose of these two MoUs is to establish a mechanism for formal cooperation in the development of the securities sector in Cambodia.
“[This encompasses] enhancing capacity building of SERC officials, human resource development in the securities sector, participation in the development of new securities products in Cambodia – including digital assets – and encouraging more market participation among key stakeholders.
“[The deal] will make a positive impact on the sustainable development of the Cambodian economy,” he said.
Socheat confirmed to The Post the veracity of the SERC’s comment in a statement issued on the same day that it “has not granted the authorisations or licences to any business or services related to digital assets. [These products are] subject to research and review of procedures and mechanisms to ensure the effectiveness in supervising and regulating this business”.
The SERC reported that a total of 16 companies feature on the Cambodia Securities Exchange (CSX) – nine enterprises have listed shares on the Main Board and Growth Board, while seven businesses have issued bonds, three of which have reached maturity.
Socheat noted that a number of companies are preparing to issue either stocks or bonds.
“This is a source of pride, given that our market has just started. But we’ll soon have an issuer of green bonds, a product that will further enhance the Cambodian securities market. Even though our market is new, the bonds to be issued will be in line with ASEAN green-bond standards,” he affirmed.
