Cambodia opens a stock exchange without a public company
Having experienced more than a decade of economic growth after years of civil unrest and political disorder, Cambodia is set to open its stock market tomorrow, a move the government hopes will attract more investors to this country’s small and developing economy.
But there is a stumbling block: Cambodia has no companies that are ready to go public.
And the lack of preparedness among local businesses reflects a broader uncertainty about the country’s capacity to adapt to the challenges of operating financial markets.
The introduction of an exchange would add sophistication to the Cambodian economy and potentially help to wean it off its dependence on the dollar. But in a society where claims of corruption are common and laws often weakly implemented, critics say there are concerns over whether market regulators are capable of enforcing rules on issues like corporate governance and accounting and trading standards.
But there is a stumbling block: Cambodia has no companies that are ready to go public.
And the lack of preparedness among local businesses reflects a broader uncertainty about the country’s capacity to adapt to the challenges of operating financial markets.
The introduction of an exchange would add sophistication to the Cambodian economy and potentially help to wean it off its dependence on the dollar. But in a society where claims of corruption are common and laws often weakly implemented, critics say there are concerns over whether market regulators are capable of enforcing rules on issues like corporate governance and accounting and trading standards.
Cambodia has its own currency, the riel, but the economy essentially functions on the dollar, with 90 percent of deposits and credit in the banking system denominated in dollars. This restricts the tools available to the central bank for cooling or stimulating the economy and inflation.
While all stock quotations on the Cambodian exchange are to be in riel, the dollar can be used to buy shares for the first three years of the bourse.
So far only three state-owned enterprises have announced their intention to list on the Cambodia Securities Exchange: Telecom Cambodia, Phnom Penh Water Supply Authority and Sihanoukville Autonomous Port.
Where is this?
it looks like out west New Mexico Maybe?
I would say out west, too, as my guess.
I can tell you that the bike is a Harley Sportster!
Not a sportster. You boys need to learn your bikes..
It’s a dyna with FXDX suspension and a little performance work I did to the engine for some mo’ ponies..
Photo- back side of HWY 18 near Big Bear, CA – West it is!
Well I would have lost money on that bet – I have a friend with a blue Sportster and hers looks identical. I’ve even drove it around a couple of times.
And I don’t have time to “learn my bikes” anyway. LoL The last thing I need is another hobby!
Hear that- they can cost.
Sportster engines are smaller, pulley is on the right looking from the rear, and the engine/trans is all one piece. A big Harley 88 or larger has a separate trans bolted to it, pulley on the left. Good times..