Phnom Penh Water Supply Authority (PPWSA) reported $22 million (92,676,362,000 riels) in revenue during Q4 2021, amounting to $5.3 million (21,952,861,000 riels) in profits.
In a financial disclosure released by the Cambodian Securities Exchange (CSX) on Tuesday, PPWSA’s Q4 profit in 2020 was about $4.6 million (18,785,810,000 riels) and about $1.4 million (6,032,434,000 riels) in the same period in 2019.
PPWSA’s assets jumped to about $562 million (2,292,136,214,000 riels) and with equity stands at $286 million (1,166,628,213,000 riels).
Oum Sotha, Chairman of the Board of Directors and Secretary of State at the Ministry of Industry Science, Technology and Innovation, said in the report that PPWSA produced 59,559,854m3 of clean water. In addition, it has replaced alum with polychloride aluminum (PAC) to improve water quality and reduce raw material costs.
He said they laid 66,895.09m of mains and distribution pipes and installed 5,912 new house connections, of which 376 were for low-income households. Furthermore, the water loss accounted for 9.71% due to the spread of Covid-19.
“It is difficult for us to issue bills to the customer and pipe leakage is caused by the development and repair of many road infrastructures,” Oum Sotha said.
“We have been continuing to develop its water service from day to day, both qualitatively and quantitatively, to meet the water demand for the population in Phnom Penh and the provincial town of Takhmao, as well as contribute to the developments of the two municipalities,” he added.
The CSX also released a financial statement from Phnom Penh Commercial Bank (PPCB). As of Q4 2021, growth in assets was $986 million and $744 million in deposits, loan outstanding expansions equivalently grew approximately 1.6% from $734 million to $746 million. There was a 3.4% increase in shareholder’s equity from $168 million to $174 million respectively from Q3 to Q4 2021.
“Our achievement has been at a triumphant rate amongst many financial competitors in the market,” said YIM Yong Taick, Chairman of the Board of Directors at PPCB.
On Tuesday, CSX’s Market Operations Director, Kim Sopha Nita, said PPWSA has shown an impressive financial performance in Q4 2021, not only with an increased profit but also assets and equity at a considerably high rate compared with the same quarter of the previous year.
“Strong financial performance indicates a good prospect for existing shareholders and potential investors who are eyeing PPWSA's stock,” Sopha Nita said.
“As for PPCB, its Q4 report wouldn't cause its bondholders to be worrisome as its profitability ratio and financial ratio, including insolvency and debt to equity ratio, have improved overall,” she added.