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Potential of Sihanoukville Autonomous Port and Site Visit
Banjaran Asset Management (Cambodia) Plc. was honored to participate in the Listed Companies Forum on the topic: Potential of Sihanoukville Autonomous Port and Site Visit, organized by Cambodia Securities Exchange (CSX) on 06 April 2026. The forum, held at Sihanoukville Autonomous Port (PAS), was under the high presidency of H.E. Lou Kim Chhun, Delegate of the Royal Government of Cambodia in charge as Chairman & CEO of the Cambodia Securities Exchange (CSX), and H.E. Hong Sokhour, Delegate of the Royal Government in charge as CEO of the Cambodia Securities Exchange (CSX), highlighting the potential and business operations of the port. Our representatives, Mrs. Edeza Banquilis, Head of Growth & Strategy, and Mr. Sok Chantola, Deputy Sales & Marketing Manager, attended the event. The session and site visit provided valuable perspectives on Cambodia’s capital market growth and port development.
Ring the Bell for Gender Equality 2026
On 31 March 2026, Banjaran Asset Management (Cambodia) Plc. was honored to participate in the “Ring the Bell for Gender Equality 2026” event held at Sofitel Phnom Penh Phokeethra. The event featured the official Ring the Bell Ceremony, keynote sessions on women’s leadership in capital markets, and the launch of the Securities and Exchange Regulator of Cambodia (SERC). Scoping Survey on Gender-Responsive Finance and Sustainable Bonds. Our representative, Mrs. Nget Synat, Deputy Finance Manager, attended the session, gaining valuable insights and engaging in meaningful networking with industry professionals.
Training Program at ACLEDA University of Business
Banjaran Asset Management (Cambodia) Plc. was honored to participate in the recent “Smart Investing” training program held at ACLEDA University of Business on 1st April 2026. The event was organized by ACLEDA Securities Plc. in collaboration with the ACLEDA University of Business and was presided over by H.E. Sou Socheat, Delegate of the Royal Government in charge as Director General of the Securities and Exchange Regulator of Cambodia (SERC). During the session, Mr. Eric Loo, CEO and Executive Director, along with the team was present in supporting the financial literacy initiatives for the next generation. A key highlight featured by Mr. Taing Hoy, Legal and Compliance Officer, who delivered a comprehensive presentation on “Investment in Collective Investment Scheme (CIS)”, providing students with essential insights into financial planning and capital market opportunities.
Annual General Meeting and Gala for Distinction Awards of Securities Investors Association of Cambodia (SIAC)
On 6 March 2026, Mr. Eric Loo, Chief Executive Officer, and Mr. Nhem Sopaul, Corporate Manager of Banjaran Asset Management (Cambodia) Plc., had the honor of attending the “Annual General Meeting and Gala for Distinction Awards of Securities Investors Association of Cambodia (SIAC),” held at the NOVOTEL Hotel. The event was presided over by H.E. Sou Socheat, Delegate of the Royal Government in charge as Director General of the Securities and Exchange Regulator of Cambodia (SERC) and Honorary President of SIAC. The event was also attended by Management and Senior Officials of SERC, the President of SIAC, presidents or representatives of relevant associations in the securities sector, presidents or founders of companies in the securities industry, representatives of the Cambodia Securities Exchange, and representatives of other related securities companies. During this distinguished event, Banjaran Asset Management (Cambodia) Plc. was honored to receive an Certificate of Distinction from SIAC, presented under the presidency of H.E. Sou Socheat, Delegate of the Royal Government in charge as Director General of SERC and Honorary President of SIAC.
Workshop on "Smart Investment" at National Institute of Social Affairs
On 10th of March 2026, representatives from Banjaran Asset Management (Cambodia) Plc. participated in a workshop on "Smart Investment" Organized by ACLEDA Securities Plc., in collaboration with the Securities and Exchange Regulator of Cambodia (SERC) held at the National Institute of Social Affairs. During the session, Mr. Sok Chantola, Deputy Sales & Marketing Manager, delivered key details presentation on “Investment in Collective Investment Scheme (CIS)”. Sharing insights on investment opportunities and financial planning to future generation.
Cambodia-ASEAN Business Summit 2026 (Part 2)
4th March 2026, the Cambodia-ASEAN Business Summit 2026 was successfully held, under the theme “Transforming ASEAN: Innovation, Integration and Industrial Evolution.” The summit was presided over by The Prime Minister of the Kingdom of Cambodia, Samdech Moha Borvor Thipadei Hun Manet, at Sofitel Phnom Penh Phokeethra. Co-organized by the Cambodia Chamber of Commerce , ASEAN Business Advisory Council Cambodia , and International Chambers and Business Associations in Cambodia , the summit brought together government leaders, policymakers, business executives and thought leaders from across ASEAN, representing diverse industries and sectors, to strengthen regional collaboration and further encourage foreign investors to explore investment opportunities in Cambodia. Banjaran Asset Management (Cambodia) Plc. was honored to participate in the summit, with CEO, Mr. Eric Loo, and Mr. Mok Chinly, Legal and Compliance Manager, as well as, Legal and Compliance Officer, Mr. Taing Hoy, in attendance. Their presence reflects Banjaran AMC’s continued commitment to supporting Cambodia’s financial ecosystem and engaging with regional leaders to explore opportunities that contribute to the Kingdom’s growing investment landscape within ASEAN.
Cambodia-ASEAN Business Summit 2026
Banjaran Asset Management (Cambodia) Plc. was honored to participate in the Cambodia-ASEAN Business summit 2026, with CEO, Mr. Eric Loo, and Mr. Mok Chinly, Legal and Compliance Manager, as well as, Legal and Compliance Officer, Mr. Taing Hoy, in attendance. Their presence reflects Banjaran AMC’s continued commitment to supporting Cambodia’s financial ecosystem and engaging with regional leaders to explore opportunities that contribute to the Kingdom’s growing investment landscape within ASEAN, held at Sofitel Phnom Penh Phokeethra on 4th March 2026. Throughout the summit presided over by The Prime Minister of the Kingdom of Cambodia, Samdech Moha Borvor Thipadei Hun Manet, the team had the opportunity to network with high-level government officials, policymakers, and key industry leaders, exchanging insights on regional integration, innovation-driven growth, and ASEAN’s evolving investment landscape. The summit served as a valuable platform for dialogue and collaboration, further reinforcing Cambodia’s role as a growing country for investment and innovation in the region.
Strengthening Professional Education in Cambodia: A Landmark MOU Signing Ceremony
On 24th February 2026, we are honored to have witnessed a landmark moment for professional education in Cambodia! Our CEO, Mr. Eric Loo and Head of Growth & Strategy, Mrs. Edeza Banquilis, attended the official MOU signing ceremony between the Cambodia Institute of Technology and Agriculture (CITA), Business School of Accountancy (BSA) , and Association of Chartered Certified Accountants (ACCA) . The ceremony was a high-profile success, graced by H.E. Chea Kosal, Secretary of State and High Representative of H.E. Heng Sour, Minister of Labour and Vocational Training. At Banjaran AMC, we are proud to support initiatives that foster talent and drive sustainable economic development across the region.
Let’s Talk Investment! Topic on: Collective Investment Scheme (CIS)
Thank you to everyone who joined us today for this session on 16th January 2026 at ACLEDA Securities Plc., centered on building a clearer understanding of Collective Investment Schemes and their role in long-term investing. We truly appreciate the participants for the opportunity to share practical investment insights and contribute to building greater financial confidence within the Cambodian market. We look forward to continuing this learning journey together in the future!
市场展望
2025年3月市场展望：政策调整与经济不确定性下的谨慎乐观
中国 “ 两会 ” 的结束为中国及香港市场注入了一定乐观情绪。主要政策措施包括维持 5% 的经济增长目标，并将财政赤字扩大至国内生产总值 (GDP) 的 4% 。北京还承诺将加大对私营部门及前沿技术的支持。投资者对这些公告的反应总体积极，因为政府正将重点转向恢复私营部门活力，从而推动经济增长。我们认为，由于近年来全球对中国的整体情绪偏负面，这一积极势头仍处于初期阶段。 美国主导的贸易关税上调引发了显著的政治与经济不确定性，主要通过增加消费者和企业的成本，以及潜在的贸易伙伴报复措施。这导致市场波动加大，并抑制了企业乐观情绪。鉴于贸易相关事件可能对全球供应链产生影响，我们对其发展保持谨慎。然而，我们认为目前尚不宜进行重大投资组合调整，因为历史数据显示供应链对环境变化具有一定韧性。 美国消费者信心因通胀预期上升而骤降。消费者在支出上愈发谨慎，担心购买力下降。这种犹豫还受到零售销售等经济指标放缓的强化。数据进一步显示，餐饮服务行业销售明显下降，这可能预示消费者需求减弱。我们将密切关注这一变化是短期波动，还是更广泛负面趋势的开端。 当前，我们对投资组合的风险定位仍感舒适，组合在各行业和地区间保持良好分散。
2025年2月市场展望：Deepseek震撼AI领域——中国科技复苏刚刚起步？
Deepseek 的推出标志着中国在人工智能领域的一项重要进展。该初创公司声称，其开发的模型在效率上远超美国企业普遍采用的模型，并且仅用 600 万美元完成开发，同时向全球公开提供使用。这与美国科技公司动辄投入数十亿美元的做法形成鲜明对比。此外， Deepseek 模型的可用性也引发了关于 AI 基础设施投资可能减少的担忧。我们认为，此类投资仍将持续，因为美国将人工智能视为国家安全问题，并将继续推进自身 AI 模型的发展。 Deepseek 的崛起也重新吸引了投资者关注中国科技企业，其股价出现强劲反弹。尽管股价飙升迅速，但估值仍在合理区间，不过我们预计在近期上涨过程中可能会出现获利回吐。考虑到全球投资者过去几年对中国持负面态度，我们认为中国股市的这一积极转变仍处于初期阶段。我们将密切关注主要中国科技公司的未来财报，以及即将召开的中国政府 “ 两会 ” 等关键政治事件，这些发展可能进一步提振投资者对中国的兴趣。 迄今为止，我们关注的大部分美国科技公司财报仅略微低于预期，但随之出现了显著的股价修正。我们认为，这主要源于分析师预期过高及估值偏高，即便是小幅盈利不及预期也会放大市场波动。不过，整体市场情绪依然积极，且经济尚未显示衰退迹象，因此我们将继续维持现有仓位。
2025年1月市场展望：应对全球格局变化的策略
在我们上一次的更新中，我们简要分享了对 2025 年的展望，并维持此前观点：市场风险将主要由三大因素驱动 —— 美国利率轨迹的不确定性、我们关注板块中美国股市估值偏高，以及全球地缘政治风险升温。这些因素可能导致股市波动率高于近年来的水平。然而，这并不意味着股价会骤跌，我们只是认为在资产配置和股票选择上应采取更加谨慎的策略。 美国股市受益于其经济韧性以及在人工智能 (AI) 技术领域的领先地位。这导致市场对盈利的预期已充分反映在股价中，但考虑到潜在关税风险及整体经济降温，我们认为这一预期偏乐观。有观点认为，特朗普政府可能通过减税来提振企业盈利并控制利率，尽管通胀风险仍在。我们认为，要同时协调这些措施以利好美国经济将存在挑战，任何重大政策公告、盈利不及预期或经济数据意外都可能引发市场短期剧烈反应。 对于东盟国家而言， “ 中国 +1” 的概念有利于其经济，但他们可能仍无法完全免受美国关税影响，因为特朗普已表示关注对欧盟和加拿大等盟友征收关税的可能性。此外，近期美国技术出口管制趋严，东盟国家并未列入获准无限制获取先进半导体的 “ 美国盟友 ” 名单。 在其他发达市场，如主要欧盟国家及日本，我们认为其经济仍在努力实现实质性复苏。结合持续的地缘政治环境，我们将继续在这些地区采取精选增配策略。 在我们关注的国家中，我们认为中国可能成为 2025 年的亮点，前提是政府采取有力且果断的措施。尽管官方已宣布刺激经济的宏伟目标，但我们认为具体行动尚未落实。在显著增加对该地区的投资比重前，我们将关注中国关键政策会议是否出台可执行计划。
2024年12月市场展望：在全球经济转变中平衡谨慎与机遇
近期，中国政府对稳定房地产市场和刺激国内消费表现出越来越强的紧迫感，官方表述也比以往更为明确。然而，由于这些大多属于高层声明，我们对其实际落实仍保持审慎态度，考虑到近年来中国政府在实施实质性经济刺激方面一直较为谨慎。 在美国，我们也观察到价值股受到越来越多投资者关注，投资者在 “ 七巨头 ” 公司集中涨幅的背景下，寻求被低估公司的机会。高盛预测，以当前估值水平来看，标普 500 指数在未来 10 年的年化回报仅为 3% 。尽管如此，我们仍将保持专注并精选美国投资机会 —— 在回调时买入，关注被低估的股票，甚至考虑市值较小但具有差异化商业模式或产品的公司。我们认为，在全球经济与地缘政治不确定性增加的情况下，这种策略更为稳妥。
2024年11月市场展望：平衡中国刺激政策与美国政治变动
中国政府宣布计划推出额外 6 万亿元人民币的方案，以支持地方政府债务负担。同时，中国财政部长也给出前瞻性指引，表示将推出新措施进一步稳定房地产市场。尽管 6 万亿元的数字看起来颇为可观，但实际上吸引力有限，因为债务置换将分三年逐步进行。此外，地方政府在债务状况改善后如何刺激各自经济仍存在不确定性。值得积极关注的是，房地产销售已有初步回升。然而，考虑到目前盈利表现温和，我们认为在进一步刺激措施出台前，中国股市短期估值可能仍将维持区间震荡。 在美国，总统选举结果显示共和党获得两院控制权 ( 红色席卷 ) 。这一变化预计将推动更为果断的政策行动，对美国国内企业有利。然而， Donald Trump 总统的政策反复性可能导致市场出现阶段性波动，尽管政策方向趋于明确。 展望 2025 年，我们对科技公司保持建设性态度。鉴于整体估值水平仍然偏高，且经济增长仍在正常化过程中，我们将采取精选方式建立新仓位。我们注意到股市在面对意外经济数据或略微盈利不及预期时波动较大，这主要源于整体市场的高估值水平。尽管令人失望的盈利结果可能预示企业业绩开始恶化，但从长期来看，这些反应往往被过度放大，从而提供了有吸引力的买入机会。
2024年10月市场展望：港股与中国股市等待政策提振，美股人工智能 (AI) 增长持续
自香港及中国股市初期上涨以来，市场出现了显著的获利回吐。尽管如此，我们仍认为该地区公司的估值具有吸引力。我们重点关注的事件是在本月底召开的中国政治局常务委员会会议。鉴于经济状况，我们预计将出台重要刺激政策，这应对股市估值产生积极影响。如果未出台有力的刺激措施，我们将重新评估对该地区的看法。 我们对人工智能应用领域的投资仍保持信心，预计 2025 年该领域将继续强劲增长，这得益于行业持续的高增长潜力。尽管销售势头有所放缓，但我们认为本轮增长周期仍有几个季度可持续。因此，我们认为美国科技板块的适度回调可能提供有吸引力的入场机会。