Mekong Strategic News

Phnom Penh Autonomous Port (PPAP) - Investor Update

For those with an interest in frontier market investment opportunities, our latest analysis on the Phnom Penh Port. In our opinion, one of the most undervalued Ports in Asia on a PE and Price to Book basis, with a strong growth trajectory. To date our investors are up 112%, and we believe it still has a long way to run.

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MSP VC digitaI innovation fund - Cambodian Tech Sector Overview

MSP is pleased to have collaborated with Raintree,  the Ministry of Posts & Telecommunications with funding from SMART.

This research provides an independent snapshot of the Cambodian tech startup sector in 2018, characterising existing challenges and an outlook for the future of the sector. The report synthesises the views of over 120 stakeholders to provide a comprehensive perspective of the ecosystem.

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Cambodian Banks – 2017 Financial Review

The Cambodian bank sector continues to be high growth, with one of the highest rates of revenue growth globally, and on track for $30 billion in loans by 2020. While overall returns are disappointing at just 12%, a number of banks have demonstrated that 20%+ returns are achievable with the right strategy.

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Mekong Strategic Partners and Smart Axiata form Smart Axiata Digital Innovation Fund (SADIF)

The Smart Axiata Digital Innovation Fund is a venture capital fund created by Smart Axiata and Mekong Strategic Partners to invest in Cambodian-based, digital service companies and start-ups involved in products, business models and other digital ecosystem enablers. It will be managed by MSP, who has deep knowledge in the technology sector and unparalleled networks in Cambodia to create and realize value. 

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Switching On: Cambodia's Path to Sustainable Energy Security. Research Report

This report investigates the potential for Cambodia to diversify its power supply technology mix, for greater energy security and sustainability benefits. To date almost all Cambodian investment in the power sector has focused on large scale hydropower and coal-fired generation. A dramatic reduction in the cost of renewables means Cambodia should pursue energy security, access, reliability and affordability goals, at least in part, through increased investment in (non-large hydropower) renewable energy.

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​Mekong Strategic Partners Interbank Market. Research Report

We outline our solution for how Cambodia can develop a functioning Interbank Market.

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The Goldilocks Conundrum: Are MFI Returns in Cambodia Too High, Too Low or About Right? Research Report

The MFI sector in Cambodia is one of the best performing MFI sectors globally, delivering high returns (22% ROE) and high growth (48% loan growth) in 2013. It has significantly outperformed the bank sector in Cambodia in terms of growth and returns. It has achieved this while charging interest rates that are towards the low end of the spectrum for MFIs globally, with a level of transparency and a pro-poor approach that is amongst the best in the world. It has significantly increased financial inclusion, and nearly 90% of MFI lending is outside of Phnom Penh.

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Cambodian Banks: High Growth Opportunity vs Low ROE Conundrum. Research Report

While the Cambodian Bank sector continues to experience high growth, of the 43 banks in Cambodia in 2013, just five earned an acceptable return on capital (above 15% ROE) with the remainder effectively destroying value for their shareholders. The overall sector ROE was just 11.6%, well below the 22% achieved by the MFI sector. Outside of the big four banks, average ROE was a very disappointing 6%.

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Why Credit Outstandings in Cambodia will be Closer to $30b than $14b by 2020. Research Report

There has been recent discussion about the likely amount of credit outstanding in Cambodia in 2020, following a forecast issued by the Cambodian Credit Bureau (CBC) that credit outstanding would be $14.7b in 2020, up from $5b at the end of 2013. While some felt this was about right, others felt it was too high. 

We believe that it is far too low, and that credit outstanding will be at least $22.5b, and possibly closer to $30b, by 2020. 

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