The Royal Group
 | |
| Company type | Conglomerate (company) |
|---|---|
| Founded | 1991 |
| Founder | Neak Oknha Kith Meng |
| Headquarters | Phnom Penh, Cambodia |
| Website | www |
The Royal Group is the premier investment and development company in Cambodia known for bringing diversified investment to the country and providing investors with the platform to run operations.[1]
The Royal Group has been at the heart of Cambodia’s economic development for more than three decades, attracting international investors and building market leaders in a cross-section of industries.[2] The group is recognized as the country’s most dynamic and diversified business conglomerate with interests in a wide range of industries.[3][4]
History
[edit]The Royal Group was founded by Neak Oknha Kith Meng as a general trading company operating out of Australia in 1989 with the name Royal Cambodia Co Ltd.[5] In 1990, The Royal Group of Companies was incorporated in the Kingdom of Cambodia.[6]
In the 1990s, The Royal Group established trading links with the government during the UNTAC administration.[7] The group established MobiTel and Royal Telecam through a joint venture with Millicom International Cellular.[8]
Between 2000 and 2010, The Royal Group among other milestones, established Cambodian Broadcasting Corporation, a terrestrial UHF television service trading under the brand CTN, through Modern Times Group.[9] The group also established ANZ Royal Bank through a partnership with Australia New Zealand Banking Group Limited.[10]
Between 2011 and 2020, The Royal Group among other milestones, acquired Wing, a mobile payment service provider.[11] In 2024, the group held the official launching of the Royal Group Exchange (RGX) which is currently Cambodia's first approved Securities Digital Products trading platform.[12][13]
Controversies
[edit]The Royal Group is one of several stakeholders in hydroelectric projects in Cambodia that have faced significant criticism for environmental concerns.[14][15] These issues include illegal logging in protected areas, displacement of indigenous communities, destruction of rural villages, and damage to fishing grounds, all of which occurred without proper environmental assessment reports.[14] Villagers had expressed concerns about speaking up due to the prominence of the project, with some fearing retaliation.[14]
References
[edit]- ^ James Whitehead,"Royal Group to launch Kingdom's first private jet charter services". khmertimeskh.com. 28 August 2024. Retrieved 5 February 2024.
- ^ TBC,"Royal Group Phnom Penh Special Economic Zone Achieves Record $1.88 Billion in Exports in 2024". thebettercambodia.com. 22 January 2025. Retrieved 5 February 2024.
- ^ "Royal Group Funds Launches Investment Opportunities Through Fixed Income and Distressed Assets Funds". cambodiainvestmentreview.co. Retrieved 5 February 2024.
- ^ "Royal Group International and Marriott International Announce Grand Entrance of Ritz-Carlton's 6-star Hotel & Branded Residence". phnompenhpost.com. 14 August 2014. Retrieved 5 February 2024.
- ^ "CCC President & Royal Group Chairman Neak Oknha Kith Meng Highlights Enhanced Business Ties at Cambodia-Korea Business Forum 2024". cambodiainvestmentreview.com. Retrieved 5 February 2024.
- ^ "Royal Group : Cambodian Catalyst". apacoutlookmag.com. 19 September 2019. Retrieved 5 February 2024.
- ^ Jose Rodriguez T. Senase,"New envoy pushes for stronger ties between the Philippines and Cambodia". khmertimeskh.com. 26 January 2021. Retrieved 5 February 2024.
- ^ "Telecom Industry Booming, as Competition Rises". khmer.voanews.com. Retrieved 5 February 2024.
- ^ Sok Chan,"TV Broadcast revolution: Companies unite to create new digital platform". khmertimeskh.com. 19 February 2021. Retrieved 5 February 2024.
- ^ Luke Hunt,"ANZ Sees Further Restructuring of ASEAN Businesses". thediplomat.com. 27 March 2014. Retrieved 5 February 2024.
- ^ "MISTI partners with Wing Bank to facilitate public service payments". khmertimeskh.com. 14 July 2024. Retrieved 5 February 2024.
- ^ "RGX Goes Live With Cambodia's First 'Regulated & Verified' Peer-to-Peer Digital Assets Functionality". cambodiainvestmentreview.com. Retrieved 5 February 2024.
- ^ Sreekanth Ravindran,"Cambodia's 'only' digital assets exchange gains 3,500 investors in one year". khmertimeskh.com. 4 February 2025. Retrieved 5 February 2024.
- ^ a b c "Cambodia: China's 'Belt and Road' Dam is a Rights Disaster". hrw.org. Retrieved 17 February 2025.
- ^ "Hydropower dams". opendevelopmentcambodia.net. 2 September 2015. Retrieved 17 February 2025.