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Banjaran AMC's CEO, Mr. Eric Loo, joins LionTrust’s 20th Anniversary Celebration
Singapore – September 5, 2025 Banjaran Asset Management (Cambodia) Plc. was invited to attend LionTrust Group's 20th-anniversary celebration in Singapore. It was an honor for our CEO and Executive Director, Mr. Eric , to join founders, partners, and industry peers in celebrating this remarkable milestone. LionTrust's two-decade journey is a powerful testament to the impact of trust, culture, and consistency. In an industry often focused on short-term gains, they have proven that genuine relationships and long-term stewardship are what build enduring success. This commitment deeply resonates with Banjaran Asset Management's mission in Cambodia. The principles LionTrust embodies are the very same we strive for: Trust as the cornerstone of every partnership. A collaborative culture that fosters shared purpose. Longevity built through alignment and sustainable growth. We extend our warmest congratulations to the entire LionTrust team. Their legacy of values and dedication is an inspiration, and we look forward to continued collaboration as we both work to shape a stable and prosperous financial future for our respective communities.
Banjaran AMC Shares Insights on Collective Investment Schemes with University Students
On the morning of August 26, 2025, representatives from Banjaran Asset Management (Cambodia) Plc. participated in a training session on "Smart Investing," organized by ACLEDA Securities Plc. with support from the Securities and Exchange Regulator of Cambodia (SERC), the Cambodia Securities Exchange (CSX), and Asia Euro University (AEU). During this training session, with the approval of the management of Banjaran Asset Management (Cambodia) Plc., Mr. Taing Hoy, Legal and Compliance Officer, delivered a presentation on " Collective Investment Schemes (CIS)" introducing new investment knowledge relevant to the securities sector in Cambodia. This training was organized with the aim of promoting financial literacy, fostering effective saving habits, and enhancing smart investment practices among university students.
Shaping Cambodia’s Financial Future: Insights from Industry Leaders
The recent session on 22nd of August 2025, brought together industry leaders to share their expertise on pivotal topics shaping Cambodia’s financial sector. Mr. Eric Loo opened with an impactful presentation on “The Profound Significance of Successfully Launching Cambodia’s First Public Fund for the National Economy and Financial System”. He highlighted Banjaran AMC’s footprint as a pioneer in the Cambodian market, discussing the challenges faced in introducing the country’s first public fund and the company high standards in setting to the industry to ensure transparency, security, and investor confidence. He also emphasizes how this succession brings economic advantages, one such as attracting new investment opportunities and how the CIS can support projects & SMEs in driving growth. His insights underscored the importance of innovation and diligence in building a financial system that strengthens both the economy and the investment landscape. Following this, Mr. Hans Chen from StrongHold Trustee introduced his company and elaborated on the importance of trustee services, underscoring their role in ensuring security, transparency, and trust in the management of collective investment schemes. Finally, Mr. Zhang Dazhi shared his expertise on corporate compliance in Cambodia, discussing practical strategies for businesses to manage risks effectively. He covered key areas including proper tax planning, sustainable growth through EIAs, accurate reporting, and overall adherence to regulatory requirements, providing guidance on how companies can navigate the evolving compliance landscape safely. Together, these discussions highlighted the collective efforts of industry experts in shaping a stronger, more resilient, and forward-looking financial ecosystem for Cambodia.
Banjaran AMC Plays a Key Role at National Seminar on Investment Instruments
On August 14, 2025, Banjaran Asset Management (Cambodia) Plc. participated in a key national seminar focused on "Understanding Investment Instruments and Financing in the Securities Sector." The event, held at the NSSF Headquarters, was organized by the Securities and Exchange Regulator of Cambodia (SERC) and the National Social Security Fund (NSSF) in collaboration with the National Social Security Fund (NSSF), with the support of Cambodia Securities Exchange (CSX), ACLEDA Securities Plc., Banjaran Asset Management (Cambodia) Plc., and Gold Financial Global Investment Co., Ltd. (GFG). It brought together more than 150 participants, including government officials and financial professionals. H.E. Kim Keoreaksmey, Deputy Director General of NSSF, expressed appreciation for the positive impact of the NSSF card in helping citizens with hospital bills and medical expenses, while reinforcing NSSF’s commitment to delivering essential social security and financial services for the benefit of its members. He also acknowledged the importance of investment opportunities in complementing social protection and ensuring long-term sustainability. His remarks reflect the strong support and recognition from high-level government leadership, underscoring the strategic importance of Banjaran AMC collaboration with NSSF in advancing national welfare and long-term economic growth. Mr. Eric Loo , CEO & Executive Director of Banjaran Asset Management (Cambodia) Plc., was at the forefront, highlighting our company’s role as a pioneer in Cambodia’s emerging fund management market. His vision and leadership have been instrumental in advancing new fund initiatives and establishing Banjaran AMC as a first mover in the market. Mr. Low Hon-Yu and Mr. Christopher Wong , our Singapore-based Board Members, also attended to show their full support for this important national effort. This powerful combination of local leadership and global expertise is what sets Banjaran AMC apart. Banjaran AMC's commitment to building a stronger market didn't go unnoticed. H.E. Sou Socheat , Delegate of the Royal Government in charge as Director General of SERC, showed great appreciation as one of the sponsorships in the success of the seminar, and its dedication to educating investors and developing the market. This high-level recognition underscores our crucial role in building trust and spreading knowledge throughout Cambodia’s financial ecosystem. Mr. Nhem Sopaul , Corporate Manager of Banjaran AMC, delivered a presentation on "Collective Investment Schemes (CIS)" that simplified complex financial topics for NSSF officials. He illustrated how these funds can create disciplined, diversified opportunities for everyday Cambodians, reflecting our commitment to empowering investors. Our pioneering work and focus on education sparked a great deal of interest at the seminar. It led to powerful networking and meaningful conversations, with several executives showing interest in our funds. This signals that our efforts to lead the way in Cambodia's investment market are truly succeeding and solidifying our reputation as a trusted market leader. Driven by strong leadership and global expertise, Banjaran AMC is committed to its mission: making investing accessible, promoting financial literacy, and playing a transformative role in Cambodia’s financial future.
Cambodia Capital Markets Assessment Report
On July 11, 2025, Banjaran Asset Management (Cambodia) Plc. had the privilege of participating in the IFC Capital Markets Assessment & Fundraising Event, held at the Hyatt Regency Phnom Penh. This high-level session, hosted by the International Finance Corporation (IFC), brought together key stakeholders across Cambodia’s financial sector—including fund managers, insurance providers, regulators, and banks—to explore strategies for strengthening the country’s capital markets. The discussions centered on unlocking new capital-raising opportunities, with particular emphasis on the development of Cambodia’s bond market as a vehicle for long-term investment and sustainable economic growth. Representing Banjaran AMC were Mr. Aaron Ng , CEO of Banjaran Asset Management Pte Ltd (Singapore), and Mr. Jevin Loo , Business Manager of Banjaran Asset Management (Cambodia) Plc.. During the event, our senior representatives had the opportunity to engage directly with IFC officials, introduce Banjaran AMC’s core mission, and present the impactful work being done through initiatives such as the K-Fund —a Collective Investment Scheme focused on agriculture and empowering local farmers that support the workshop's vision. IFC representatives expressed strong recognition and interest in Banjaran’s vision and ongoing efforts. These interactions helped lay the groundwork for potential future collaboration and opened new doors for strategic engagement in Cambodia’s fast-evolving investment environment. This event marked an important milestone in Banjaran AMC’s ongoing efforts to connect global capital with local opportunity, and to support the development of Cambodia’s financial ecosystem through innovation, transparency, and inclusion.
Banjaran AMC Promotes Smart Investing Through CIS Seminar at Preah Kossamak Polytechnic Institute
On the morning of July 8, 2025, representing Banjaran Asset Management (Cambodia) Plc., Mr. Taing Hoy, Legal and Compliance Officer, delivered an insightful presentation on "Investing in Collective Investment Schemes (CIS)" at Preah Kossamak Polytechnic Institute. His session formed part of the "Intelligent Investment" training program, organized by ACLEDA Securities Plc., with support from the Securities and Exchange Regulator of Cambodia (SERC), the Cambodia Securities Exchange (CSX), and Preah Kossamak Polytechnic Institute., aimed at deepening financial literacy and promoting smart investment practices among students.
National Social Security Fund held an initial meeting to explore investment opportunities with Banjaran Asset Management (Cambodia) Plc.
PHNOM PENH, Cambodia – June 4, 2025 As part of an ongoing review of the country's social security system, an initial meeting took place between the National Social Security Fund (NSSF) of Cambodia and Banjaran Asset Management (Cambodia). The NSSF hosted a key delegation from Banjaran Asset Management (Cambodia) Plc., led by Mr. Eric Loo , CEO and Executive Director to discuss possible collaboration opportunities. The meeting was specially attended and led by two Board of Directors from Banjaran Asset Management Pte Ltd (BAMPL), Singapore. The NSSF's core objectives include enhancing social security benefits for Cambodian citizens and ensuring the prudent management of its funds, and actively contributing to national development initiatives. The meeting discussions centered on the product and services of Banjaran Asset Management (Cambodia) Plc. that corelates to social security fund investments. Both parties expressed strong enthusiasm for this initial meeting as a valuable opportunity to gain mutual understanding of each institution’s goals and services. NSSF representatives welcomed Banjaran AMC's proactive approach and diverse portfolio, recognizing the substantial value such a collaboration could bring –- to strengthening Cambodia's vital social security framework. The meeting concluded with a strong commitment, with hopes that both parties will establish an investment partnership in the near future.
Successful Training on Collective Investment Schemes Held in Kampong Cham
Kampong Cham, Cambodia – May 30, 2025 – A highly successful training session on "Investing in Collective Investment Scheme (CIS)" was held today in Kampong Cham province, providing valuable insights into investment opportunities for attendees. Organized by ACS and supported by Banjaran Asset Management (Cambodia) Plc, the event took place at the National University of Cheasim Kamchaymear at Kampong Cham, Cambodia. Mr. Veasna Monireach, Operation Officer at Banjaran Asset Management (Cambodia) Plc, led the engaging presentation. He delved into the intricacies of Collective Investment Schemes, explaining their benefits, risks, and how individuals can participate in these pooled investment vehicles. The training aimed to enhance financial literacy and empower participants with the knowledge to make informed investment decisions. The event saw a strong turnout, with attendees actively participating in discussions and Q&A sessions, demonstrating a keen interest in understanding investment strategies. This initiative underscores the commitment of ACS and Banjaran Asset Management (Cambodia) Plc to fostering financial education and development within Cambodian communities.
Banjaran AMC at DMUC Careers Fair 2025!
We were proud to be a part of the De Montfort University of Cambodia (DMUC) Careers Fair 2025, an exciting and vibrant event that brought together over 80 leading organizations from sectors including banking, healthcare, hospitality, NGOs, education, and technology. Our team at Banjaran Asset Management (Cambodia) Plc. had a fantastic time engaging with students, recent graduates, and jobseekers who were eager to learn more about the financial and investment industry. From sharing insights into fund management and financial planning to discussing career paths within the non-bank financial sector, our booth was buzzing with conversations, questions, and meaningful connections. We also had interactive activities, giveaways, and plenty of one-on-one discussions with future professionals passionate about shaping Cambodia’s financial future. A heartfelt thank you to all the enthusiastic visitors who stopped by our booth, and to DMUC for hosting such a dynamic platform for employers and jobseekers to connect.
Market Outlook
2025 February Market Outlook: Deepseek Shakes Up AI—Is China’s Tech Rebound Just Beginning?
The launch of Deepseek marks a notable development for China as the startup claims it is significantly more efficient than widespread models developed by US companies. The startup also claims to have developed the model with only US$ 6 million and has made their model publicly available for use globally. This stands in contrast to US technology firms, which have been spending billions of dollars. Additionally, the availability of Deepseek’s model has raised concerns about potential reductions in AI infrastructure investment. Our view is that these investments will continue since the US sees AI as a national security issue and will continue to advance their own AI models. The rise of Deepseek has also brought investor attention back to Chinese technology firms with their share prices rebounding strongly. Despite the meteoric rise, valuations are still at reasonable levels though we do expect profit-taking along the way given the recent sharp rise. We believe the positive shift in China’s stock market is at its early innings given how negative global investors have been on China over the past few years. We will be closely monitoring the outlook from major Chinese technology companies in their coming earnings results, along with key political events such as the upcoming Chinese government’s Two Sessions. These developments could further bolster investors interest in China. So far, earnings results from most US technology firms that we monitor were only marginally disappointing, yet significant price corrections have followed. We see this as a result of high analyst expectations and stretched valuations, which have amplified volatility even on minor earnings misses. That said, market sentiment remains positive, and with no signs of a recession, we will continue to maintain our positions.
2025 January Market Outlook: Strategies for Navigating a Shifting Global Landscape
In our previous update, we briefly shared our outlook for 2025, and we maintain our view that market risks will be driven by three key factors: the uncertain interest rate trajectory in the US, elevated US equity valuations in the sectors that we monitor and heightened geopolitical risks globally. These factors are likely to result in higher volatility in equity markets compared to recent years. However, this does not mean that equity prices will drop precipitously. Instead, we simply believe a more cautious approach to positioning and stock picking is warranted. The US equity market has benefited from the strength in its economy and leading position in artificial intelligence (“AI”) technologies. This has led to high earnings expectations being baked into stock valuations, which we find to be optimistic given the looming risk of tariffs and the ongoing cooling of the general economy. Some argue that the Trump administration will reduce corporate taxes to boost earnings and control interest rates despite inflation risks. Our view is that timing all these initiatives to benefit the US economy will be challenging and there will likely be knee-jerk reactions to any significant policy announcements, earnings misses and economic data surprises. For ASEAN countries, while the “China + 1” narrative is beneficial, they may not be spared from US tariffs as Trump announced his attention to impose tariffs on close allies such as the EU and Canada. Additionally, recent US technology export regulations were tightened, and none of the ASEAN countries were included in the list of “US allies” who were granted unrestricted access to advanced semiconductors. In other developed markets such as major EU countries and Japan, we believe that their economies are still struggling to pick-up meaningfully. Coupled with the ongoing geopolitical environment, we will continue to be selective in increasing exposure to these regions. Among the countries we monitor, we believe that China could be a bright spot in 2025, provided the administration acts strongly and decisively. They have announced ambitious goals to stimulate the economy with no concrete actions yet, in our view. We will be monitoring their key policy meetings for actionable plans before significantly increasing our weighting in the region.
2024 December Market Outlook: Balancing Caution and Opportunity Amid Global Economic Shifts
Recently, China has expressed increasing urgency to stabilize its property market and domestic consumption, through stronger-than-usual language from the administration. Given that these were mostly high-level statements, we remain skeptical on the announcement given the Chinese government’s hesitance to implement substantial economic stimulus in recent years. In the US, we also see that there has been growing interest in value stocks, as investors seek opportunities in undervalued companies amid concentrated gains in companies like the Magnificent Seven. At current valuations, Goldman Sachs has forecasted that the broader S&P500 index will return a mere 3% annually over the next 10 years. We will however remain focused and selective on US opportunities - buying on dips, looking at undervalued stocks or even going into smaller capitalization companies if they have differentiated business models or products. We believe this approach is more sensible under the current conditions of uncertainty in both the global economy and geopolitics heading into 2025.
2024 November Market Outlook: Balancing Chinese Stimulus and U.S. Political Shifts
The Chinese administration have announced their intention to rollout an additional RMB 6 trillion package to support the debt burden of local governments and China’s finance minister also gave forward guidance that they would be introducing new measures to further stabilize the property market. While the headline number of RMB 6 trillion seems substantial, ultimately it was not impressive as the debt swap is intended to occur gradually over the next 3 years. Furthermore, there is uncertainty over how the local governments will spur their respective economies once their debt position improves. A positive note is that there has been some initial rebound in property sales. However, we believe near-term equity valuations in China are likely to remain rangebound until further stimulus measures are announced given the modest earnings results so far. In the US, the presidential election results were a red sweep, where the Republican party took control of the House and Senate. This shift is expected to lead to more decisive policy action going forward which would be beneficial for domestic US companies. Nevertheless, President Donald Trump’s erratic nature may cause bouts of market volatility despite the anticipated policy clarity. Going forward into 2025, we remain constructive on technology companies. With overall valuation levels in this space remaining high and economic growth still normalizing, we shall selectively initiate new positions. We note that equity markets have been exhibiting high amounts of volatility on surprising economic data or slight earnings misses. We believe this is due to the high valuations observed in the broad equity market. Though disappointing earnings results may signal the start of a deterioration in business performance, we tend to see that most of these reactions are overblown over a long-term horizon. This presenting attractive buying opportunities.
2024 October Market Outlook: Hong Kong and China Stocks Await Policy Boost as AI Growth Persists in the US
Since the initial surge in the Hong Kong and Chinese stock market, significant profit taking has followed. Despite this, we maintain our view that company valuations in the region remains attractive. The main event that we are monitoring is towards the end of this month, where China holds their Politburo Standing Committee. We expect major stimulus measures to be announced given the state of their economy, and this should result in a positive impact to stock valuations. In the absence of strong stimulus measures, we will be reassessing our view on the region. We remain confident that investments in artificial intelligence (“AI”) applications will remain strong through 2025, driven by the industry's continued high-growth potential. While sales momentum has moderated, we believe this cycle has several more quarters of growth ahead. As a result, we believe that modest selloffs in the US technology sector are potentially attractive entry points.
2024 September Market Outlook: Tech Stocks Face Headwinds as AI Valuations Come Under Scrutiny
Since the last newsletter, technology stocks continued to underperform as investors began to question the premium valuations that these companies command since the start of the artificial intelligence (“AI”) narrative. There is no doubt that AI will result in long-term productivity gains as more companies begin to announce standalone AI products. Additionally, continued improvements in AI hardware will likely accelerate development going forward. As we assess the current investment landscape, we anticipate the road forward for AI-related opportunities to be less smooth than the past year as investors increasingly scrutinize the potential for these AI investments and applications to deliver solid returns. We believe that the first to see widespread AI adoption would be in areas that provide support in pattern recognition and personal assistance. These applications, while not entirely new, have progressed significantly over the past year. To illustrate, Salesforce has recently announced Agent Force, a client servicing bot that is easily customizable for different industry applications. Compared to older chatbots, early adopters of Agent Force have seen a 40% improvement in customer query resolution. In healthcare, doctors are also increasingly using AI to assist with effective diagnosis and drug development. We are well positioned to benefit from increasing AI adoption over the long-term on this front. Where we are looking to gain additional exposure is in AI-related hardware. We are tracking several data center equipment and power management companies. However, these sectors in general are trading at a high premium and are already well-invested. We believe we should take a more considered approach prior to initiating a significant position given the high valuations. The AI landscape is undoubtedly changing very quickly, and we will be flexible on our positions depending on the developments that unfold going forward.