Telecom Cambodia postpones plan to list on local bourse

15 March 2013
Telecompaper
Economy and commerce / Securities exchange (stock market) / Stock market / Trade
Cambodia Securities Exchange / CSX / international audit company KPMG / KPMG / Ming Bankosal / Ministry of Post and Telecommunications / Ministry of Post and Telecommunications Secretary of State Sarack Khan / Sarak Khan / SECC / Securities and Exchange Commission of Cambodia / Securities and Exchange Commission of Cambodia Director General Ming Bankosal / TC / Telecom Cambodia / Tong Yang Securities (Cambodia) Plc / transit fees

State-owned fixed-line company Telecom Cambodia’s (TC) plan to join the Cambodia Securities Exchange (CSX) has been postponed indefinitely because of its poor financial performance, reports The Phnom Penh Post. The company will need to redesign its business plan to improve operations, said Sarak Khan, secretary of state at the Ministry of Post and Telecommunications. … It will be worse still when the transit fee, a major source of revenue for TC, is deducted from this year, added Khan. According to Khan, revenue from transit fees account for about USD 17 million annually, more than 50 percent of TC’s total revenues. … Securities and Exchange Commission of Cambodia (SECC) director general Ming Bankosal said any company that fails to make a net profit in the last three years of operation will be barred from joining the country’s bourse …

http://www.telecompaper.com/news/telecom-cambodia-postpones-plan-to-list-on-local-bourse--931448