Cambodia Securities Market Overview Essay

816 words - 4 pages

Cambodia Securities Market Overview

While banks have been the main source of funding for businesses in Cambodia, this will soon change with the opening of securities markets. Cambodia officially launched a stock exchange on 11 July 2011. The Cambodia Securities Exchange (CSX) is a joint venture between the Cambodian Ministry of Economy and Finance, which controls 55%, and the Korea Exchange (KRX), which holds 45%.

The Regulator:

The Securities and Exchange Commission of Cambodia (SECC) regulates the Cambodia Securities Exchange (CSX) in Cambodia . The SECC is established under the law on The
Issuance and Trading of Non-government Securities.

Requirements for listing on the CSX ...view middle of the document...

brokerage)

The rate has been revised from 0.25% to 0.15% on the value of the settled trade according to a Press release - the 24th Plenary Meeting of the SECC dated 21st March 2012.

Tax Incentives for Listing on CSX:

Companies listing on the CSX will receive temporary tax reductions for the first three years. The 22 April 2011 sub-decree notes that for firms that list, the Tax on Profit would drop from 20% to 18%, while the withholding taxes on interests and dividends would both drop from 14% to 7% for the first three years. However, based on the interviews with SECC last month, an unofficial announcement from SECC officials state that the Tax incentives will be scaled up in 2013 and the tax obligations before listing can be waived in case by case basis.

Key Requirements for Listing on the CSX

Quantitative requirements _
The number of shareholders who hold shares with the voting rights less than 1 % (one percent): The number of shareholder who hold shares with the voting rights less than 1% (one percent), and who hold shares from more than 10 (ten) shares, are required to have at least 200 (two hundred) people by the date which the securities are officially registered for sale.

The number of shares of shareholders with the voting rights less than 1% (one percent): The number of shares of shareholders who hold shares with the voting rights less than 1% (one percent) are required to have 200,000 (two hundred thousand) shares or 15%...

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