Ac t i o n | 27 Jul 2026 10:18:58 ET │ 14 pages Lingering Externalities Likely Curbed 1H26E EBITDA Growth CITI'S TAKE We revise our model to reflect the Cambodian Ministry of Tourism's recently reported weak 1H26 Cambodia inbound international tourist arrivals (-48% YoY). Cambodia appears to be negatively impacted by externalities such as the Thai-Cambodia border tension, security concerns over telecom scams and an oil price hike that may have led to the reduction of inbound flights (khmer, 14-Jul-26). We b ...