Cambodian ports record strong growth in 2019

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The two key Cambodian autonomous ports, PPAP and PAS, reported strong financial performances in 2019 based on their latest filings.

Cambodian Autonomous Ports
The Phnom Penh Autonomous Port (PPAP) and the Sihanoukville Autonomous Port (PAS) recorded positive results in 2019

The Phnom Penh Autonomous Port (PPAP) recorded revenues of $27.19 million in 2019, up 31.43% from 2018. Its operating profit rose nearly 79% to $15.8 million and net profit rose by 42.84%,to $11.55 million.

The Sihanoukville Autonomous Port (PAS) recorded $83.48 million in revenue in 2019, up 21.17% year-on-year, and $20.34 million in operating profit, an increase of 27%.

CSX vice-chairman Ha Jong-Weon said the increase in the quantity of cargo and container throughputs were responsible for the strong 2019 figures.

It’s not clear how the COVID-19 pandemic will affect their business in 2020. The Cambodia Securities Exchange (CSX) index has dropped by 16% since mid-February. 

CSX data shows the PPAP, PAS have dropped on the CSX by 100 and 20  riel (2.5 and 0.49 US cents) respectively to 10,700, 13,140 riel ($2.63, $3.23).

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