Sacombank Shutters Cambodian Securities Arm

A major Vietnamese bank is closing its brokerage and securities arm in Cambodia, an official said yesterday, amid the ongoing drought of listings on the Cambodian Securities Exchange (CSX). ... Sacombank, which will continue to operate as a bank in Cambodia, set up the securities firm in January 2011 with $7 million capital. [Tram Minh Trung, director-general of Sacombank Securities Cambodia Public Ltd. Co.,] said the company had informed the Securities and Exchange Commission of Cambodia (SEEC) that it was handing back its licence as a securities registrar, transfer agent and paying agent. ... The CSX still only offers the stocks of one company, the Phnom Penh Water Supply Authority, which listed in the bourse’s first and only initial public offering in April 2012. ...

http://www.cambodiadaily.com/business/sacombank-shutters-cambodian-securities-arm-15738/