Listing of Phnom Penh Autonomous Port
Profile
Phnom Penh Autonomous Port was listed on the Cambodia Securities Exchange on 9 December 2015.
Phnom Penh Autonomous Port (PPAP) is the largest river port operator and one of the international ports among the two international ports in Cambodia. PPAP is also the port authority in Port Commercial Zone. As the port operator, PPAP provides services on stevedoring, lift on/off, warehousing, inland container depot (ICD), stuffing/un-stuffing, reefer containers, repair/maintenance containers, consolidation/ deconsolidation, and trucking service. As the port authority, PPAP provides services on pilotage, surveying and dredging. PPAP is given the authority to look after the Port Commercial Zone of 166km long. Within the Port Commercial Zone, PPAP operates Seven terminals including 1-Container Terminal LM17, 2-Multipurpose Terminal TS3, 3-Sub-Feeder Multipurpose Terminal TS11, 4-Sub-Feeder Multipurpose Terminal UM2, 5-Passenger and Tourist Terminal TS1, 6-Sub-Feeder Multipurpose Terminal LM26, and 7-Sub-Feeder Multipurpose Terminal UM1.
For more information, please visit www.ppap.com.kh.
Company
About Phnom Penh Autonomous Port
In 2025, PPAP’s market situation has improved compared to the previous year, as the impacts of war and global economic uncertainty which had affected all sectors have eased slightly, including the transportation sector in Cambodia. PPAP’s main market performance depends heavily on the growth of the country’s real estate and tourism sectors, as well as orders for textile goods from abroad, particularly the United States. Indeed, PPAP's market in 2025 has shown positive growth with the stability of the real estate and textile sectors, and in both regional and international supply chains. As a result, the volume of containers passing through PPAP increased by 25% compared to 2024. The growth in cargo throughput via PPAP in 2025 is attributed to the continued import of construction materials, which accounted for 40% of total imports and an increase of 45% compared to 2024. Garment exports accounted for 66% of total exports, representing a 20% increase compared to 2024. In terms of import origins in 2025, cargoes from Vietnam increased by 56%, Malaysia by 46%, China by 42%, and Korea by 13%, compared to 2024. As for exports, shipments to the United States increased by 43%, China by 14%, Canada by 5% and Japan by 4%, compared to 2024.
Board of Directors
| Board of Directors (as of 28 Sep 2026) | Title |
|---|---|
| 1. H.E. HEI Bavy | Chairman & CEO of PPAP |
| 2. H.E. SUON Rachana | Member (Rep. of Ministry of Public Works & Transport) |
| 3. H.E. KEN Sambath | Member Member (Rep. of Ministry of Economy & Finance) |
| 4. H.E. PENN Sovicheat | Member (Rep. of Ministry of Commerce) |
| 5. Mrs. LAY Rachana | Member (Independent Director) |
| 6. Mrs. POK Pheakdey | Member (Non-Executive Director, Rep. of Private Shareholders) |
| 7. Mr. HUN Sokhalay | Member (Rep. of PPAP Employees) |
Substantial Shareholders
| Shareholder | Nationality | Number of Shares | % of Shares |
|---|---|---|---|
| Ministry of Economy and Finance of Cambodia | Cambodia | 16,547,492 | 80.00% |
| Total | - | 16,547,492 | 80.00% |
Dividend Policy
The minimum guaranteed dividend yield is 5% of IPO price (KHR 5,120) applicable for at least 5 years after listing and only available for the shareholders of Class A (Voting) shares.
Following approval of the annual financial statement by the Board of Directors, if there is profit, the Board of Directors of PPAP can decide to distribute the profit to:
1. Settle payment for the loss of the previous fiscal year;
2. After settling payment for the loss of the previous fiscal year, and if there is still profit, the Board of Directors may distribute the profit as follows:
A. Appreciation to the management and employees according to the following conditions:
- In case the net profit remains from 5% to 10% of the total operating expense of PPAP in that year, the amount to show appreciation is equivalent to 1 month of the total annual average salary of the management and each employee;
- In case the net profit remains from 10% to 20% of the total operating expense of PPAP in that year, the amount of the bonus is equivalent to 2 months of the total annual average salary of the management and each employee;
- In case net profit remains at a rate exceeding 20% of the total operating expense of PPAP in that year, the amount to show appreciation is equivalent to 3 months of the total annual average salary of the management and each employee.
B. Creation of 5% [of net profit] for legal reserve and 5% of net profit for free reserve;
C. 5% of profit for Corporate Social Responsibility [fund] which will be recorded as expense in the fiscal year when the operating expense is incurred;
D. Profit remaining after the above distribution shall be distributed as dividend to the shareholders according to the resolution of the Board of Directors;
E. The final remaining profit shall be transferred into the development fund of PPAP.
Listing Information
| Company Name | Phnom Penh Autonomous Port |
|---|---|
| Symbol | PPAP |
| ISIN Code | KH1000040001 |
| Industry | Port Services |
| Type of Listed Share | Voting Shares |
| Listed Shares | 20,684,365 |
| Listing Date | 9 December 2015 |
| Inception Year | 1905 |
| Number of Staff | 915 |
| Underwriter | Yuanta Securities (Cambodia) Plc. |
| First Trading Date | Wed, Dec 09, 2015 |
| IPO Price | 5,120 |
| Par Value | 4,000 |
| Newly Issued Shares | 4,136,873 |
| First Closing Price | 5,140 |
Trading Data Summary
| Year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Market Capitalization | 295,786 | 286,272 | 289,581 | 289,581 | 304,060 |
| Last Price | 14,300 | 13,840 | 14,000 | 14,000 | 14,700 |
| Average Price | 13,805.00 | 13,720.00 | 14,351.00 | 14,884.00 | 14,087.00 |
| High | 15,480 | 18,300 | 15,520 | 15,980 | 15,720 |
| Low | 12,540 | 12,000 | 13,600 | 13,940 | 11,500 |
| Trading Value per Day | 9.37 | 14.23 | 8.02 | 47.30 | 97.49 |
| Turnover Ratio | 4.26% | 6.05% | 3.65% | 19.99% | 72.39% |
| P/E | 3.68 | 5.38 | 7.69 | 5.17 | 5.63 |
| P/BV | 0.33 | 0.63 | 0.69 | 0.74 | 0.92 |
| Dividend Yield | 2.77 % | 2.50 % | 2.47 % | - | 2.26 % |
| Dividend Payout Ratio | 10.58% | 8.78% | 11.99% | 7.91% | 8.46% |
| Cash Dividend per Share | 396.80 | 345.60 | 345.60 | - | 332.80 |
| ROE | 8.94 % | 6.48 % | 4.93 % | 7.94 % | 7.62 % |
| ROA | 6.74 % | 4.98 % | 3.76 % | 6.13 % | 5.97 % |
| Debt Ratio | 24.57 % | 23.00 % | 23.78 % | 22.77 % | 21.62 % |
| Current Ratio | 108.91 % | 173.00 % | 144.49 % | 348.67 % | 335.71 % |
Financial Summary
| Year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total Assets | 1,224,924.00 | 1,076,084.00 | 1,040,884.00 | 1,012,482.00 | 895,806.95 |
| Property, Plant & Equipment | 637,080.00 | 529,608.00 | 517,390.00 | 443,125.00 | 420,959.80 |
| Current Assets | 68,909.00 | 80,540.00 | 49,644.00 | 128,661.00 | 96,810.90 |
| Inventory | 3,798.00 | 3,194.00 | 3,275.00 | 2,944.00 | - |
| Accounts Receivable | 27,770.00 | 28,321.00 | 28,684.00 | 34,166.00 | 20,918.04 |
| Cash | 16,386.00 | 48,307.00 | 15,925.00 | 91,409.00 | 75,836.29 |
| Total Equity | 903,165.00 | 832,519.00 | 796,760.00 | 768,400.00 | 705,442.29 |
| Share Capital | 457,814.00 | 457,814.00 | 457,814.00 | 457,814.00 | 457,814.00 |
| Retained Earnings | 79,886.00 | 54,230.00 | 40,091.00 | 59,527.00 | 51,686.01 |
| Total Liabilities | 321,759.00 | 243,565.00 | 244,123.00 | 244,082.00 | 190,364.67 |
| Current Liabilities | 321,759.00 | 46,431.00 | 34,358.00 | 36,901.00 | 28,837.60 |
| Accounts Payable | 36,156.00 | 23,981.00 | 12,347.00 | 13,311.00 | 9,752.78 |
| Revenue | 201,803.00 | 169,305.00 | 142,035.00 | 148,816.00 | 125,228.15 |
| Gross Profit | 128,603.00 | 104,939.00 | 88,267.00 | 97,958.00 | 85,315.71 |
| EBIT | 95,860.00 | 2,550.00 | 49,508.00 | 79,844.00 | 68,566.64 |
| Net Income | 77,553.00 | 52,750.00 | 38,606.00 | 58,498.00 | 51,695.46 |
| EPS | 3,749.00 | 2,550.00 | 1,866.43 | 2,878.00 | 2,500.00 |
| Operating Cash Flow | 128,062 | 92,004 | 60,268 | 62,339 | 89,737 |
| Investing Cash Flow | (209,330) | (41,110) | (52,237) | (46,023) | (57,306) |
| Financing Cash Flow | 49,512 | (17,906) | (17,466) | (18,409) | (16,693) |
| Net Cash Flow | (31,756) | 32,988 | (9,435) | (2,092) | 15,991 |
| Auditing Firm | KPMG Cambodia LTD | KPMG Cambodia LTD | KPMG Cambodia LTD | BDO Cambodia Limited | BDO Cambodia Limited |
* Data as of the end of 2026 unless otherwise stated.
Disclosures
- 13 October 2026[Disclosure] Unaudited Revenue Report for September, Quarter 3, and 9 Months of 2026 (Unofficial Translation)
- 8 October 2026[Disclosure] Announcement on Business Outcome for September Quarter III and for the first 9 Months of 2026 of PPAP (Unofficial Translation)
- 16 September 2026[Disclosure] Unaudited Revenue Report for August and for 8 Months of 2026 (Unofficial Translation)
- 14 September 2026[Disclosure] Announcement on Business Outcome for August and for the first 8 Months of 2026 of PPAP (Unofficial Translation)
- 17 August 2026[Disclosure] Second quarterly report of PPAP in 2026 (Unofficial Translation)
- 14 August 2026[Disclosure] Increase in Profit / Loss (Unofficial Translation)
- 12 August 2026[Disclosure] Unaudited Revenue Report for July and for 7 Months of 2026 (Unofficial Translation)
- 11 August 2026[Disclosure] Change of Management with Decision Power (Unofficial Translation)
- 6 August 2026[Disclosure] Announcement on Business Outcome for July and for the first 7Months of 2026 of PPAP (Unofficial Translation)
- 4 August 2026[Disclosure] Change of Management with Decision Power (Unofficial Translation)
Source: Cambodia Securities Exchange (CSX) — csx.com.kh