[PHNOM PENH POST]
DESIGNATED broker Sonatra Securities inaugurated its operations
yesterday ahead of the Cambodian Securities Exchange launch next week.
Sonatra
Securities is one of four firms licensed by the Securities and Exchange
Commission of Cambodia to act as brokers, meaning it can buy and sell
shares on behalf of clients for a fee.
Sonatra chief executive
Sorn Sokna said the launch of the firm was a reflection of the
government’s efforts to launch the exchange.
“I firmly believe
that Cambodia’s securities market will spur the country’s economic
growth, promoting the country into the global community as well as
ASEAN,” he said.
Minister of Economy and Finance and SECC
chairman Keat Chhon said at Sonatra’s launch yesterday that brokers
played a role that was vital to the exchange’s operation.
“It is
the pride of Cambodia, having a Cambodian-owned firm participate in the
process and the development of the securities market from the
beginning,” he said.
The CSX would offer another source of funding for companies operating in Cambodia, Keat Chhon said.
“The
securities market will be operating smoothly, successfully and
fruitfully in the short term, although it needs quality, skill and
professionalism from all the components of the market [to succeed],” he
said.
The other firms licensed as brokers on the exchange by
the Securities and Exchange Commission of Cambodia are ACLEDA
Securities, Cambodia Capital Securities and CAB Securities.
The Cambodia Securities Exchange is set to be launched next week, after twice being delayed.
Three
state-owned companies have been tapped to list, although officials from
the Phnom Penh Water Supply Authority, Telecom Cambodia and the
Sihanoukville Autonomous Port have said they will not be ready until
later this year.
Several private companies are also said to be considering listing on the exchange.
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