TUESDAY, 14 SEPTEMBER 2010 21:15 NGUON SOVAN
The government has said Cambodia’s first stock exchange will launch next July “at any cost”. As the country readies itself for the much-delayed bourse Inpyo Lee, project director of Korean Exchange, which holds a 45 percent stake in the Cambodian Securities Exchange, holds an interview with Nguon Sovan.
What still needs to be done for CSX to launch in July?
Our project is now running to the finish line. We have almost completed our information technology system development and are now in the final stage of testing.
We are about to ship all the IT equipment and materials from Korea to Cambodia.
In the meantime, the first CSX board members meeting will be held soon. Then we will decide when we will apply to SECC to get a licence for CSX.
However, we need to develop more macrostructure – such as a balanced banking and financial sector, and an advanced accounting system.
Moreover, potential companies for listing must be carefully examined. Another major issue is the education of potential investors, but CSX is preparing for that.
What have you observed about companies in Cambodia in terms of adherence to accounting standards, management systems and transparency? Are they qualified enough for listing?
For many companies, I think there is a long way to go to meet CSX requirements.
However, there are good, qualified companies that can be listed in the CSX next year – some companies already practice international