Listing of Sihanoukville Autonomous Port

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Sihanoukville Autonomous Port

Sihanoukville Autonomous Port was listed on the Cambodia Securities Exchange on 8 June 2017.

PAS is a state-owned public enterprise, which is the core deep-water seaport in the kingdom of Cambodia, covering an operational area of 125ha in Preah Sihanouk Province and is connected with various means of transportation including by road (National Road No.3 & No.4 and PP-SHV Expressway), railway, and airway which is 17km distance from PAS. PAS was established to operate with services including:

• Pilotage, bringing vessels in-out and providing logistics supplies

• Monitoring vessel movements through the Vessel Traffic System (VTS)

• Stevedoring operations, unloading & loading, and transit cargo/container

• Managing warehouse-container yard, and bonded warehouses

• Establishing and operating Special Economic Zone (SEZ)

• Construction and maintenance of ports, buildings, bridges, roads within port area

• Construction and maintenance of vessels, machinery, containers, signals and blight pump

• Development and expansion of existing infrastructure.

For more information, please visit www.pas.gov.kh.

Company

About Sihanoukville Autonomous Port

• In 2023: with a 400m-Container berth the port capacity is 550,000 TEUs/Year. By the end of 2023, the 2 units of Mobile Harbor Cranes were equipped and officially launched, highly presided over by Samdech Moha Borvor Thipadei HUN MANET, Prime Minister of the Kingdom of Cambodia on 22 December 2023. This increases the port capacity from 550,000 TEUs/Year to 650,000 TEUs/Year (container throughput in 2023 = 797,778 TEUs)

• In 2024: Renovate the general cargo berth into the 253m-container berth equipped with 2 QC & 6 RTG Cranes and dredging increasing the port capacity from 650,000 TEUs/Year to 1,000,000 TEUs/Year (container throughput in 2024 = 1,032,191 TEUs).

• In 2025, PAS implemented strategic measures to enhance operational efficiency and mitigate vessel and truck traffic congestion. By expanding the container yard and extra container gate, the port capacity increased from 1,000,000 TEUs to 1,300,000 TEUs (container throughput in 2025 = 1,347,726 TEUs).

Board of Directors

Board of DirectorsTitle
1. H.E. Lou KimChhunChairman
2. H.E. Dr. Phan PhallaMember
3. H.E. Chhoun VinMember
4. H.E. Kem SithanMember
5. Mr. Hun MonivannMember
6. Mr. Hidetoshi KumeMember
7. Mr. Lou LikhengMember

Substantial Shareholders

ShareholderNationalityNumber of Shares% of Shares
Government represented by Ministry of Economy and FinanceKhmer64,328,97575.00%
KAMIGUMI CO., LTDJapanese11,150,32413.00%
Total-75,479,29988.00%

Dividend Policy

The BOD of PAS adopted the dividend policy with the minimum guaranteed dividend yield of 5% per annum of the investment amount based on the IPO price for the period of 3 years after being listed at CSX, which is offered to the holders of Class C voting shares only.

After approving the annual closing accounts, the BOD shall allocate the net income available, if any, as follows:

- Compensation for loss(es) incurred in previous years.

- After the compensation, the remaining profit, if any, shall be distributed in the following manner:

(a) Reward to management and employees

o If the remaining profit accounts for 5% - 10% of the operating expenses of PAS, the reward shall be equal to the amount of one-month salary;

o If the remaining profit accounts for 10% - 20% of the operating expenses of PAS, the reward shall be equal to the amount of two-month salary;

o If the remaining profit accounts for above 20% of the operating expenses of PAS, the reward shall be equal to the amount of three-month salary;

(b) 5% of the net profit after deduction of the above-stated reward as Legal Reserve

(c) 5% of the net profit after deduction of the above-stated reward as Free Reserve

(d) 7% of the net profit after deduction of the above-stated reward as Social Fund, which shall be recorded as expense during the year.

(e) Dividend distribution to Class B, and Class C (subject to the BOD’s approval)

(f) The remaining amount shall be used to create Enterprise Development Fund.

Listing Information

Company NameSihanoukville Autonomous Port
SymbolPAS
ISIN CodeKH1000060009
IndustryPort Services
Type of Listed ShareVoting Shares
Listed Shares85,771,967
Listing Date8 June 2017
Inception Year1956
Number of Staff1,608
UnderwriterSBI Royal Securities Plc.
First Trading DateJun 08, 2017
IPO Price5,040
Par Value1,000
Newly Issued Shares21,442,992
First Closing Price5,100

Trading Data Summary

Year20252024202320222021
Market Capitalization1,111,605991,5241,079,0111,142,4831,142,483
Last Price12,96011,56012,58013,32013,320
Average Price12,070.0012,058.0013,078.0013,542.0013,648.80
High13,90013,18014,10014,50015,160
Low11,40010,62012,10012,80012,700
Trading Value per Day10.9123.5519.6322.8242.90
Turnover Ratio2.68%6.1%4.59%5.13%9.24%
P/E6.028.169.2013.8012.49
P/BV1.291.411.782.292.72
Dividend Yield4.66 %4.79 %4.01 %3.41 %3.78 %
Dividend Payout Ratio7.54%9.37%12.96%14.29%11.53%
Cash Dividend per Share605.00554.00504.00454.00504.00
ROE14.99 %12.41 %13.29 %10.21 %12.61 %
ROA8.47 %7.51 %8.05 %5.90 %6.65 %
Debt Ratio44.00 %40.00 %0.39 %0.42 %0.47 %
Current Ratio216.00 %238.00 %1.94 %2.62 %2.31 %

Financial Summary

Year20252024202320222021
Total Assets2,289,278.001,773,325.001,602,825.001,427,149.671,427,149.67
Property, Plant & Equipment1,565,457.001,214,424.001,093,446.00963,713.00966,165.84
Current Assets439,280.00303,493.00261,266.00210,117.00202,852.00
Inventory41,898.0041,347.0034,464.0029,083.0027,225.01
Accounts Receivable202,954.00117,649.0048,073.0037,957.0035,659.91
Cash102,152.0027,186.0019,342.0023,586.0022,468.93
Total Equity1,225,001.001,069,902.00972,045.00863,800.95783,894.16
Share Capital518,018.00518,018.00518,018.00518,018.06518,018.06
Retained Earnings632,607.00490,181.00404,521.00304,692.31234,156.26
Total Liabilities1,064,277.00703,423.00630,780.00562,344.65643,255.51
Current Liabilities1,064,277.00127,308.00134,386.0080,290.9987,755.00
Accounts Payable127,481.0072,557.0036,943.0035,066.0744,208.16
Revenue621,459.00459,212.00364,641.00343,743.54342,349.23
EBIT225,693.00163,107.00163,353.00107,837.00122,240.08
Net Income171,979.00126,734.00121,965.0084,155.0093,707.39
EPS2,005.001,478.001,422.00981.151,092.52
Operating Cash Flow234,1259861280,98587,735.44122,192.53
Investing Cash Flow(397,297)(120,944)(71,977)(32,728.44)(79,144.68)
Financing Cash Flow238,13830,176(13,252)(53,889.56)(51,319.99)
Net Cash Flow74,9677,844(4,245)1,117.44(8,272.15)
Auditing FirmPricewaterhouseCoopers (Cambodia) Ltd.Ernst & Young (Cambodia) Ltd.Ernst & Young (Cambodia) LtdPriceWaterhouseCoopers (Cambodia) Ltd.PriceWaterhouseCoopers (Cambodia) Ltd.

* Data as of the end of 2025 unless otherwise stated.

Disclosures

Source: Cambodia Securities Exchange (CSX) — csx.com.kh