ASEAN KEY DESTINATIONS
Firms put out Q2 financial reports
Two of Cambodia’s four publicly listed companies released their financial reports for the second quarter of 2016 yesterday, with both showing moderately healthy profits.
This comes six weeks after the close of this year’s fiscal first half, and a day after the Post reported that all four publicly listed companies were late in releasing their financial statements – a vital tool for investors to judge the health of a company.
Phnom Penh Water Supply Authority (PPWSA) posted total revenue of about $12.4 million from April through June of this year, a 1.6 per cent increase from the same period last year. The company’s net profit topped $3.1 million, a 76.8 per cent year-on-year increase, during the same period.
While PPWSA’s performance improved when compared to the first quarter of this year, net profit declined by 30.2 per cent compared to the first half of 2015, when it recorded $5 million in profits in its semi-annual report.
The Phnom Penh Autonomous Port (PPAP) – which listed on the Cambodian Securities Exchange (CSX) last December – recorded total revenue of $3.65 million for the second quarter of this year, an increase of 5 per cent compared to the same period in 2015. The company’s net profit grew by 13 per cent year-on-year to $746,170 during the period.
While PPWSA earned more than $3.1 million net profit during the second quarter, it expects that it will slightly dip to $2.67 million in the third quarter.PPAP, on another hand, did not release a growth plan or expected earnings.
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Indonesia to launch 13th economic package this month
Coordinating Economic Minister Darmin Nasution said on Wednesday that the government would release its 13th economic policy package in August, adding that the draft had been completed.
Darmin said the 13th package was largely an extension of the previous one, but would expand its focus beyond industry. The 12th package focused on small and medium enterprises.
"We are just waiting to schedule a meeting with the president," Darmin told reporters at his office. He refused to give the exact date the new policy package would come into effect.
The ministry team must meet with President Joko "Jokowi" Widodo one more time to finalize the details, Darmin said.