Golden Fortune (Cambodia) Securities
Plc (GFS), one among two securities dealers obtained license from Securities
and Exchange Commission of Cambodia (SECC) is officially inaugurate its
operation in Cambodia in late December, 2011. It is a join-venture company
between Chinese and Cambodia with total capital of 10 million dollars.
Its ceremony and the inaugurations
of various securities firms licensed as underwriter, dealer and securities
broker are evidence of readiness of securities intermediaries which is a key
infrastructure to support the success of launching the securities market
project in Cambodia in future, Deputy Prime Minister Keat Chhon, Minister of
Ministry of Economy and Finance said during ceremony.
Securities Dealers play a
significant role in trading of securities in secondary market through Cambodia
Securities Exchange (CSX)’s trading system to provide not only brokerage
service to public investors, but also in trading in their own account assuming
all the risks themselves. Moreover, securities dealers are important mainstays
in daily trading operation in the market to provide dynamic trading activities
and increase liquidity.
Mr. Zhang Yun Feng, Chairman of
Golden Fortune, said that the firm has experience more than 10 years and also
experience with beginning of Chinese security market with a strong basic
security business skill and well communication network.
“We are commit in participating in
the development of Cambodia securities market from the beginning by ways of
investing, setting up relevant necessary infrastructure and made effort in
finding partners, and skilled and experienced management from overseas in
particular skilled staffs who had experience in developing securities market in
China,” according to Mr. Zhang.
Currently, SECC provide license to
15 securities firms including 7 underwriter, 2 dealers, 4 brokers and 2
investment advisers, H.E. Ming Bankosal, Director General of Securities and
Exchange Commission of Cambodia said after ceremony.
All securities already put into
operation and ready for security trading even through they are not yet
inaugurate such as SBI security, Kosal mentioned.
In
November 2010, SECC granted licenses for fifteen securities firms: 7 underwriters,
2 dealers, 4 brokers and 2 investment advisers to conduct securities
businesses.
As the trading of securities in
future, three state-owned enterprises, Sihanoukville Autonomous Port, Phnom
Penh Water Supply Authority, and Telecom Cambodia are preparing Initial Public
Offerings (IPO) to ensure the trading of Cambodia security.
"The process in upcoming securities market are comply with rules and regulation and operate with transparency, accountability, efficiency, fair and protecting public investors and to provide fruitful outcome for developing financial sector as well as real economy,” Keat Chhoun said.
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