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The Royal Group
Company typeConglomerate (company)
Founded1991; 35 years ago (1991)
FounderNeak Oknha Kith Meng
HeadquartersPhnom Penh, Cambodia
Websitewww.royalgroup.com.kh

The Royal Group is an investment and development conglomerate in Cambodia.[1] It was founded by Kith Meng in 1989.[2] The group has interests in a number of industries, including television, telecommunications and banking.[3] It has attracted foreign investment in Cambodia.[4]

History

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The Royal Group was founded by 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

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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,[16] displacement of Indigenous communities, destruction of rural villages, and damage to fishing grounds, all of which occurred without proper environmental assessment reports.[14][17] Villagers had expressed concerns about speaking up due to the prominence of the project, with some fearing retaliation.[14] The Royal Group's land concessions in Botum Sakor National Park led to land clearing and land disputes with local communities.[18]

References

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  1. ^ James Whitehead,"Royal Group to launch Kingdom's first private jet charter services". khmertimeskh.com. 28 August 2024. Retrieved 5 February 2024.
  2. ^ 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.
  3. ^ "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.
  4. ^ "Royal Group Funds Launches Investment Opportunities Through Fixed Income and Distressed Assets Funds". cambodiainvestmentreview.co. Retrieved 5 February 2024.
  5. ^ "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.
  6. ^ "Royal Group : Cambodian Catalyst". apacoutlookmag.com. 19 September 2019. Retrieved 5 February 2024.
  7. ^ Jose Rodriguez T. Senase,"New envoy pushes for stronger ties between the Philippines and Cambodia". khmertimeskh.com. 26 January 2021. Retrieved 5 February 2024.
  8. ^ "Telecom Industry Booming, as Competition Rises". Voice of America. Retrieved 5 February 2024.
  9. ^ Sok Chan,"TV Broadcast revolution: Companies unite to create new digital platform". khmertimeskh.com. 19 February 2021. Retrieved 5 February 2024.
  10. ^ Luke Hunt,"ANZ Sees Further Restructuring of ASEAN Businesses". thediplomat.com. 27 March 2014. Retrieved 5 February 2024.
  11. ^ "MISTI partners with Wing Bank to facilitate public service payments". khmertimeskh.com. 14 July 2024. Retrieved 5 February 2024.
  12. ^ "RGX Goes Live With Cambodia's First 'Regulated & Verified' Peer-to-Peer Digital Assets Functionality". cambodiainvestmentreview.com. Retrieved 5 February 2024.
  13. ^ Sreekanth Ravindran,"Cambodia's 'only' digital assets exchange gains 3,500 investors in one year". khmertimeskh.com. 4 February 2025. Retrieved 5 February 2024.
  14. ^ a b c "Cambodia: China's 'Belt and Road' Dam is a Rights Disaster". hrw.org. Retrieved 17 February 2025.
  15. ^ "Hydropower dams". opendevelopmentcambodia.net. 2 September 2015. Retrieved 17 February 2025.
  16. ^ Cochrane, Liam (May 17, 2017). "ANZ's partner in Cambodia accused by police of illegal logging". ABC News.
  17. ^ Denton, Jenny (October 18, 2017). "'If it's going to kill us, OK, we'll die': Villagers stand firm as Cambodian dam begins to fill". Mongabay.
  18. ^ Flynn, Gerry (August 22, 2023). "Cambodian conglomerate sparks conflict in Botum Sakor National Park". Mongabay.
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