Cambodia's state-owned telecoms firm bounces back into profit for 2016

By：Xinhua Update：2017-04-01

The state-owned Telecom Cambodia (TC) on Friday reported a 1-million-U.S.-dollar unaudited profit for 2016, returning to profitability after a loss in the previous year.

"The profit is a sharp turnaround from its 724,746 U.S. dollars loss in 2015," said the report released during the TC's annual conference.

Speaking to reporters after the conference, Minister of Posts and Telecommunications Tram Iv Tek attributed TC's rebound in profit to its thorough reform of revenue and expense management.

According to the report, TC earned gross revenue of 18.6 million U.S. dollars last year, and its revenue came from transit fees, local and international phone calls, internet service providers, Asymmetric Digital Subscriber Line services (ADSL), phone connection, fibre optic cable, and interconnection fees.

As of last year, TC had 32,444 fixed phone service users and 7,270 internet service users, the report said.

TC is one of the state-owned enterprises that have been planned to list on the Cambodia Securities Exchange (CSX). However, the listing plan has been postponed due to its poor financial performance.

According to the rule by the Securities and Exchange Commission of Cambodia, any company wanting to list on the CSX must see a good profit in the last three years.