ASEAN KEY DESTINATIONS
Cambodia launches bourse
During a ceremony marking the launch of the Cambodia Securities Exchange (CSX) in the capital, Economy Minister Keat Chhon said the bourse would help boost foreign investment.
The CSX is a joint venture between the Cambodian government and the Korea Exchange, which signed an agreement to set up the exchange in March 2009.
But due to delays while firms reach compliance with auditing standards, trading on the CSX is unlikely to begin until early in 2012, said Stephen Higgins, chief executive of Cambodia-based ANZ Royal Bank.
"The firms here are simply not ready to be in a position to list," Higgins said. He added that over the long term the CSX could provide a valuable source of equity for listed firms, but that the bourse would take time to find its feet
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