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/