Cambodian Digest News

  The relevance of environmental, social, and governance (ESG) practises at enterprises around the world has been highlighted during COVID-19. However, even before the pandemic, there was talk of reform. Last year, the Business Roundtable (a group comprising 181 CEOs of America's major corporations) stated that companies must “support the communities in which they operate”, reversing American economist Milton Friedman's long-held belief in wealth maximisation for shareholders. Times have changed in 2020. This year, Prince Holding Group (“PHG”) or Prince Group Cambodia , one of Cambodia's major conglomerates, realised this and paved the way for other enterprises in the country to follow ESG principles. Since April, the Group has given a number of major gifts to aid in the fight against the pandemic and flood victims, and Neak Oknha Chen Zhi, PHG chairman, has been the driving force behind the donations.  Chen Zhi and PHG, for example, donated US$3 million to Prime Minister H

  Prince Real Estate helps 804 poor families in Chamkarmon District who were affected by the community outbreak on February 20. Prince Holding Group (“Prince Group”), one of Cambodia's largest and fastest-growing conglomerates, and Chairman Neak Oknha Chen Zhi Cambodia have announced plans to donate US$3 million to anti-pandemic efforts in the Kingdom in response to the Cambodian government's request for assistance in combating the Covid-19 outbreak on February 20, 2021. This follows Chen Zhi's original donation of US$3 million in December to assist Cambodia in purchasing COVID-19 vaccinations. Information on Cambodia -  https://www.encyclopedia.com/places/asia/cambodian-political-geography/cambodia Furthermore, Prince Real Estate, a member of Prince Group, has distributed vital food supplies to 804 families in need and 234 members of the police force in Chamkarmon District, Phnom Penh, Cambodia, affected by the February 20, 2021 Covid-19 outbreak, following in the footste

  The charity arm of a Cambodian company involves the local community as essential players in an upcoming 834-hectare project. Prince Charitable Foundation, the charitable arm of Prince Holding Group (‘Prince Group'), one of Cambodia's largest and fastest expanding conglomerates, has provided care packages to 500 families in Ong village, Prey Nob district, Cambodia. The community is close to the Ream City project, an 834-hectare development on reclaimed land near Sihanoukville International Airport that is planned to change the region. The gesture of goodwill occurred last week, when top management from Canopy Sands Development, a part of Prince Group, used the opportunity to speak with local leaders to better understand the community's needs. The aid campaign at Ong Village is Prince Group's most recent environment, social, and governance (ESG) effort. Each care package included 25 kilogrammes of rice, a mat, a blanket, two pillows, a mosquito net, and a Khmer Krama (t

  Many people's working life have been altered as a result of the global pandemic, including those in Cambodia. As a good corporate citizen, Chairman Neak Oknha Chen Zhi and Prince Group established the Prince Horology Vocational Training Center, Cambodia's first independent watch school. The training school provides Cambodians with the opportunity to learn a new artisanal skill – watchmaking – and obtain valuable experience that will aid them in finding work in Cambodia and abroad. The training institution adheres to the stringent watchmaking rules set forth by Swiss regulatory organisations. Cambodia has long preserved artisanal skills for generations as a country steeped in history, with the Kingdom well-known for its ancient handwoven silk and traditional handicraft industries that boast a heritage dating back to the Khmer Empire, a significance Prince ChenZhi and Prince Group have always understood and appreciated. New artisanal skills, on the other hand, must be introduc

  Prince Real Estate Group, a subsidiary of Prince Holding Group, Cambodia's largest conglomerate by Prince Chenzhi , successfully concluded an investment deal for Prince Square. The project will be the developer's first commercial retail venture in Phnom Penh, Cambodia, and will bring a slew of well-known brand names to the city, including Adidas, Levi's, Skechers, Nike by Supergo, Huawei, OPPO, Potato Corner, Dakasi, Panda Cake, and Pizza Hut. Phnom Penh is steadily integrating into the global economy as a metropolitan centre. According to the Globalization and World Cities Research Network, Phnom Penh was classed as a Gamma+ city in 2020 (cities that connect smaller economic regions to the global economy) after climbing the ranks in the preceding two years. Read more about Phnom Penh -  https://en.wikipedia.org/wiki/Phnom_Penh With a total retail floor area of 35,000 square metres. Prince Square will be a four-story structure that will house a huge supermarket, an intern

  Cambodian conglomerate brings world-renowned Singapore expertise to oversee 834-hectare project, sparking growth in Cambodia's third largest metropolis. Canopy Sands Development, a subsidiary of Prince Holding Group, one of Cambodia's largest and fastest expanding conglomerates, has accepted a masterplan for Ream City created by Surbana Jurong Group, a Singapore-based global urban, infrastructure, and managed services firm. The masterplan defines a land use plan for the 834-hectare project, which will require a total investment of US$16 billion and will be built on reclaimed land within 10 minutes from Sihanoukville International Airport. Ream City will serve as a catalyst for the overall economic possibilities of the Sihanoukville region, which includes Cambodia's third-largest city and the country's deep-water port. Ream City is designed to revitalise Sihanoukville by introducing a sustainable ecosystem of tourism, business, and residential activity capable of housi

  Prince Group wins a Silver Stevie® Award for COVID-19 Response – Most Valuable Corporate Response, making it the only firm in Cambodia to do so. Prince Holding Group (“Prince Group”), one of Cambodia's largest and fastest expanding conglomerates, has been named a Silver winner in the COVID-19 Corporate Response category of the ninth annual Asia-Pacific Stevie Awards (one of the world's most recognised business awards). The Prince Group was the only Cambodian firm honoured in a category recognising competence in COVID-19-related crisis management by Asian corporations. The Asia-Pacific Stevie Awards are the only business awards programme that recognises workplace innovation in all 29 Asian countries. For 19 years, the Stevie Honors have been generally regarded as the world's best business awards, offering recognition for excellence through programmes such as The International Business Awards®. “The recognition solidifies our belief that the private sector has an important