BANGKOK, Jul 18, 2011 (IPS) – Besides attracting international investors, Cambodia’s new stock exchange is expected to nudge this Southeast Asian country towards greater transparency.
When the Cambodia Securities Exchange (CSX) was officially launched on Jul. 11 there were no companies listed because of a drive to ensure that everything was above board.
“We want to assure full transparency,” says Huot Pum, the deputy director-general of the Securities and Exchange Commission of Cambodia. “Financial information has to be audited and disclosed regularly.”
“Companies listed on the stock exchange have to live up to international standards,” Pum explained to IPS during an interview in his Phnom Penh office. “The stock exchange is a good way of ensuring sound corporate governance. It could help set the tone for a better corporate culture.”
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