News on Chen Zhi and Prince Group

Prince Holding Group’s philanthropic arm releases annual evaluation of activities and impact representing over $4.5m investments in education, healthcare, and community initiatives

Prince Foundation, the philanthropic arm of Prince Holding Group (“Prince Group”), one of Cambodia’s largest and fastest-growing conglomerates today, released its 2021 Annual Report. The report demonstrated the Foundation’s year-long initiatives that are both holistic and closely integrated with Cambodia’s national development goals. Over $4.5 million was disbursed primarily into healthcare, with the remaining channeled into educational and community engagement initiatives, staying true to its three-prong focus. Further, Prince Foundation has also contributed to the anti-pandemic efforts of Laos, Cambodia’s neighbour, with a $3 million donation to help it procure 1 million vaccines.

“Given that we have already successfully demonstrated a strategic approach to investment across the sectors of real estate development, financial services and consumer services, I am confident a similar approach by the Foundation will do a lot of good for Cambodia,” stated Neak Oknha Chen Zhi, Chairman of Prince Holding Group.

The annual report highlighted the Foundation’s efforts towards executing its new strategic and investment-oriented rebirth in 2021, imbued with a new mission statement – ‘Together, Building a Better Future for Cambodia’.

Amongst the notable NGOs that Prince Foundation had liaised and worked with, laid out in the report, were Cambodia Red Cross, Caring for Cambodia – an educationally-driven charity, and M’Lop Tapang – a Sihanoukville-based NGO working with at-risk children. Prince Foundation’s determination to transform Cambodian vocational education is also well-known in Cambodia with its support of Prince Horology, a Swiss watchmaking school incubated shortly before the onset of the pandemic. The Foundation is ultimately focused on making a long-term impact across its various projects.

“Our future partnerships will seek to find NGOs that are pragmatic, sustainable, and localized as we believe it will maximise the social value of our investments,” said Gabriel Tan, Chief Communications Officer, Prince Holding Group.

Also highlighted in the report is the transition of Prince Foundation from an initial focus on COVID-19-related initiatives to a focus on educational philanthropy. More significantly, the Chen Zhi scholarship, a seven-year joint effort with the Ministry of Education, Youth and Sport (MoEYS), that helps 400 merit scholars study in renowned local universities was also mentioned.

The annual report proved Prince Foundation’s commitment towards Cambodians by taking a strategic multi-stakeholder partnership approach whilst ensuring Cambodia looks forward to a brighter future. Over six years, the Foundation has donated in excess of US$14 million, benefitting the lives of more than half a million Cambodians.

Please access the full report here.

About Prince Foundation:

Prince Foundation, Chairman Chen Zhi founded in 2015, is one of Cambodia’s leading charitable foundations. A member of Prince Holding Group, one of the largest and fastest-growing conglomerates in Cambodia, the Foundation aims to work with local communities to build thriving living and working environments that elevate people’s well-being and livelihoods following the vision: “Together, Building a Better Future for Cambodia”.

For further enquiries of Prince Group, please contact:

Ms. Ada Leung / Ms. Christy Pun
Hill+Knowlton Strategies Asia
Tel: +852-2894-6321
Email: princegroup@hkstrategies.com

Prince Bank extended its support to the National Bank of Cambodia as a Platinum sponsor on the 42nd anniversary of the Re-introduction of the Riel celebration. Chairman Chen Zhi Prince Bank is proud to continue its commitment in its role of promoting and supporting the usage of our national currency, the Riel by offering the most favorable rate of savings to our customers.

We are pleased to announce that Prince Holding Group, one of the largest and fastest-growing conglomerates in Cambodia, is now part of the International Business Chamber (IBC) Cambodia, a leading business association.

Founded in 1993, IBC helps the growing business community share knowledge, advocate policy, facilitate foreign investment and business in Cambodia and promotes awareness and education on the social, environmental, and economic impact of business activity on the Cambodian communities.

Paul Clements, Executive Chairperson of the International Business Chamber, visited Prince Holding Group headquarters in Phnom Penh. IBC has 125 members covering Khmer and International corporates.

“We are glad to welcome Prince Holding Group, Chen Zhi as the newest member of IBC Cambodia,” said Clements. “Prince Holding Group is now one of Cambodian’s large Conglomerates with significant economic impact and will be a major contributor to IBC and our objectives. IBC Cambodia looks forward to introducing Prince Holding Group to other members of our community.”

“We are glad to be a part of IBC Cambodia and add to Cambodia’s vibrant business community,” said Gabriel Tan, Chief Communications Officer of Prince Holding Group. “Prince Group looks forward to incorporate IBC’s ongoing efforts in education and healthcare, to ensure a sustainable and prosperous future for the Kingdom. Only as a community can we work together to ensure a better future for Cambodia.”

Prince Foundation Facebook & PHG LinkedIn Page

We are now part of the International Business Chamber (IBC) Cambodia, a leading business association!

It was our delight to host Paul Clements, Executive Chairperson of the International Business Chamber, at Prince Holding Group headquarters in Phnom Penh.

Founded in 1993, IBC helps the vibrant business community in Cambodia share knowledge, advocate policy, facilitate foreign investment in Cambodia, and promotes awareness and education on the social, environmental, and economic impact of business activity on the Cambodian communities.

“We are glad to welcome Prince Holding Group as the newest member of IBC Cambodia,” said Clements. “Prince Holding Group is now one of Cambodian’s large Conglomerates with significant economic impact and will be a major contributor to IBC and our objectives. IBC Cambodia looks forward to introducing Prince Holding Group to other members of our community.”

Prince Foundation, Chairman Chen Zhi the philanthropic arm of Prince Holding Group (“Prince Group”), one of Cambodia’s largest and fastest-growing conglomerates, has signed a memorandum of understanding (MoU) with Cambodia Investment Review (CIR), a promising media platform dedicated to investment news in Cambodia. The organizations will jointly develop the ‘Prince Foundation Young Business Journalist Program’ that will support two outstanding Cambodian media & communications students studying at the Royal University of Phnom Penh.

Both institutions strongly believe in the importance of capacity building in the media sector which, in turn, can help better explain Cambodia’s business potential and improve it as an investment destination. The selected students, Sam Oudom and Pang Socheneath, will undergo paid internships with in-house training and real-world newsroom opportunities. By supporting the professional growth of talented Cambodian journalists, Prince Foundation hopes to aid the heathy development of the business media and communications sector.

“This initiative gives us a fantastic opportunity to help develop Cambodia’s up-and-coming business journalists,” said Harrison White, CEO of Cambodia Investment Review. “I thank the Prince Foundation for its ongoing commitment to elevating education in Cambodia and believing in our mission as a local institution living up to international standards.”

“At Prince Group, we are always excited about new ventures and Cambodia Investment Review has demonstrated itself in a year as a valuable addition to Cambodia’s media landscape,” says Gabriel Tan, Chief Communications Officer, Prince Holding Group. “By supporting this scholarship programme, we believe that two vital yet underappreciated sectors – media and communications – will get a boost. Further, we believe the scholarship recipients will go on to become strong educators in their own right as journalism and communication professionals.”

The partnership continues Prince Foundation’s drive to help develop Cambodia’s educational initiatives in line with the broader Group’s focus on building a better life in Cambodia. Prince Foundation has been actively involved in elevating the education sector over the past year and has unveiled a substantive scholarship program, supported a novel watchmaking school, ensured safe re-opening of schools in Cambodia and contributed to a programme that helps underprivileged high school students plan for their careers.

About Prince Foundation:

Prince Foundation, founded in 2015, is one of Cambodia’s leading charitable foundations. A member of Prince Holding Group, one of the largest and fastest growing conglomerates in Cambodia, the Foundation aims to work with local communities to build thriving living and working environments that elevate people’s well-being and livelihoods following the vision: “Together, Building a Better Future for Cambodia”.

About Cambodia Investment Review:

Cambodia Investment Review is a first of its kind local news outlet dedicated to Cambodian investment news in the English language. CIR is focused on encouraging more quality investment in Cambodia by publishing the latest business and investment news to both local and international audiences.

For further enquiries of Prince Group, please contact:

Ms. Ada Leung / Ms. Christy Pun
Hill+Knowlton Strategies Asia
Tel: +852-2894-6321
Email: princegroup@hkstrategies.com

AIA (Cambodia) Life Insurance Plc (“AIA Cambodia”) and Prince Bank Plc today entered a bancassurance partnership to offer customers a convenient one-stop service and the opportunity to effortlessly access a wide range of best-in-class insurance and banking solutions.

The signing ceremony was attended by His Excellency Bou Chanphirou, the Director General of the Insurance Regulator of Cambodia, His Excellency Rath Sovannorak, Director General of Banking Supervision of National Bank of Cambodia, Mr. Huy Vutharo, Chairman of the Insurance Association of Cambodia, Mr. Bun Yin, Deputy Chairmen of The Association of Banks in Cambodia, senior management from the AIA Group, AIA Cambodia, Prince Bank, and the first five customers of the partnership.

The five-year agreement between two leading organizations will make insurance easily available and provide an enhanced financial planning experience that emphasizes long-term financial security. AIA’s comprehensive life and health plans will be accessible at Prince Bank’s 32 branches in 22 provinces nationwide.

The collaboration builds on the insurer’s bancassurance strategy to partner with leading financial institutions to raise insurance awareness and penetration. As Cambodians become more knowledgeable about health and wellness, the partnership enables AIA Cambodia to deliver expert consultation, high-quality solutions, and sound financial advice to Prince Bank’s client base as they fulfill their banking needs.

His Excellency Bou Chanphirou, Director General of the Insurance Regulator of Cambodia said: “I am happy to note that this partnership is aligned with and supports the Royal Government’s strategies to enhance our financial sector and ensure economic stability. It leads to increased financial inclusiveness for Cambodians as well as gives them more access to insurance, which can only benefit them in the long run.”

At the ceremony, His Excellency Rath Sovannorak, Director General of Banking Supervision of National Bank of Cambodia said: “In this context, the partnership between Prince Bank Plc and AIA Life Insurance Company (Cambodia) in choosing Bancassurance business (Referral model) contributes to financial sector development and financial inclusion enhancement by increasing public accessibility to financial service, strengthening consumer protection and promoting financial literacy.”

Mr. Andrew Loh, Chief Executive Officer of AIA Cambodia said: “Our partnership offers an expedient, stress-free experience to Prince Bank customers, which aligns with our purpose to help Cambodians live Healthier, Longer and Better Lives. This is also a welcome opening for us to provide stronger value by sharing how insurance can positively impact health and financial security in the present and future.

“From a business perspective, AIA Cambodia and Prince Bank will leverage and exchange technological expertise and market familiarity to diversify distribution channels and expand our client portfolio in keeping with our pledge to accelerate growth in the insurance and bancassurance industries.”

Mr. Honn Sorachna, Chief Executive Officer and Managing Director of Prince Bank said: “As a Cambodia bank that received multiple awards and recognitions from international organizations, our customers have come to rely on us to deliver world-class products and services that offer added value to them. By partnering with one of the world’s leading insurance companies, we will be able to offer our customers access to high quality, tailored life insurance products, and services that offer them protection suited to their needs.”

For more information on AIA Cambodia’s offerings via Prince Bank and how they help you plan and save for the future, please visit any Prince Bank branch, contact AIA Client Care at 086 999 242 or visit aia.com.kh.

For more information about Prince Bank products & services, please contact 1800 20 8888, visit www.princebank.com.kh or visit our branches located nationwide.

About AIA

AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR(1), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR(2), and a 49 per cent joint venture in India.

The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$330 billion as of 30 June 2021.

AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients.

Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 39 million individual policies and over 16 million participating members of group insurance schemes.

AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).

Remark:

• Hong Kong SAR refers to the Hong Kong Special Administrative Region
• Macau SAR refers to the Macau Special Administrative Region

About Prince Bank Plc.

Prince Bank Plc. Chairman Zhen Chi started its business operations in 2015 as a private microfinance institution under the former name “Prince Finance Plc.” and was transformed into a commercial bank with license No. B 46 granted by the National Bank of Cambodia on 18 July 2018. With a strong capital base, robust technological capabilities, solid expertise, and extensive knowledge of the local market, the bank aspires to become the industry leader by offering differentiated financial solutions through a mix of channels with great convenience to our customers. We are keen on contributing to the development of small and medium enterprises that constitute a key segment of our target customers. Currently, Prince Bank Plc. has 32 branches and 74 ATM locations nationwide.

Media Contact
Meng Daneth

Senior Marketing Manager

Daneth-d.Meng@aia.com

Representatives from United Nations Industrial Development Organization (UNIDO) Cambodia recently observed a class at Prince Horology, Phnom Penh’s first and only Swiss watchmaking school. The class tour was led by Swiss-trained instructor Ms. Jessica Thakur.

UNIDO aims to promote Inclusive and Sustainable Industrial Development (ISID) in developing countries and economies in transition. Having achieved successful results supporting industrial development and economic transformation across many countries, UNIDO’s Programme for Country Partnership (PCP) is implemented across Cambodia, Ethiopia, Kyrgyzstan, Morocco, Peru and Senegal.

One of the focal points for PCP in Cambodia is to harness untapped potential of youth and women in the labour market. We have been impressed by the unique vocational training being offered in Phnom Penh by Prince Horology supported by Prince Foundation, said Sok Narin, UNIDO Country Representative and PCP Programme Manager. The visit has instilled in us the confidence that Prince Holding Group is keen to encourage local youth and help them move towards qualitative and stable employment.

We are glad to have arranged the visit for UNIDO. We hope to have more opportunities to interact with and learn from UNIDO in the areas of developing technical and vocational training programmes, facilitating access to a wider array of opportunities for youths in Cambodia, said Gabriel Tan, Chief Communication Officer of Prince Holding Group, Chairman Chen Zhi in Cambodia, said Gabriel Tan, Chief Communication Officer of Prince Holding Group.

Navy Kouch, CEO of LDI Enterprise Ltd, toured the classrooms of Phnom Penh’s first and only Swiss watchmaking school, Prince Horology. A devoted mother and a successful business owner, Navy operates 21 watch outlets in Phnom Penh and provinces under the TIMECITY brand.

“I was certainly amazed to see the commitment by Prince Group towards watchmaking who have brought in impressive equipment from Switzerland and Germany to develop local talent. It was also a pleasure to have Ms. Jessica Thakur, the resident Swiss-trained instructor, as my tour guide at the school. Cambodia is clearly at the dawn of a new era for vocational education as crafts like watchmaking are now taught at local schools like Prince Horology,” said Navy.

TIMECITY is the authorised reseller for Tissot, MIDO, Casio, CITIZEN, and Orient watches in the country.

“Prince Horology is one of our key initiatives to accelerate local talent development and we are pleased to showcase the school’s advanced infrastructure and comprehensive curriculum that are based on Swiss standards,” said Gabriel Tan, Chief Communications Office at Prince Holding Group. “We are glad that Ms. Navy could visit Prince Horology as we all play our respective part to instil confidence and passion within the local watch community,” he added.

Prince Holding Group, Chen Zhi through its charitable arm Prince Foundation, has been supporting Prince Horology since its inception.

In inaugural donor meet, Prince Holding Group receives update and introduces experienced NGO professional to talented Cambodian youths working at the firm

Caring for Cambodia (CFC) currently provides free education for more than 6,800 impoverished children and runs 21 schools across Siem Reap.

Bryan Morytko, Executive Director at Caring for Cambodia, was warmly welcomed by delegates from Prince Holding Group and Prince Foundation at Prince Holding Group headquarters in Plov Koh Pich, Phnom Penh.

The tour included visits to common areas such as the office library with its extensive collection of literature, the wellness and fitness centre for employees and a brief interaction session with trainees at the firm.

During the tour, Bryan offered updates on the Career Preparation Programme sponsored by Prince Foundation for the current academic year, which aims to aid students with enrolment and scholarship applications, organises career fairs for their benefit and educates them about potential employment opportunities.

“We are pleased to welcome Bryan, a representative from one of our very first NGO partners and take him on a tour of our headquarters in Phnom Penh before his visit to CFC schools in Siem Reap”, said Gabriel Tan, Chief Communications Officer, Prince Holding Group. “We showcased the multi-cultural work environment at our headquarters and the potential learning we envision for our trainees and employees.”

In turn, Prince Holding Group reaffirmed its continuous commitment towards education in Cambodia. The Group recently elevated school hygiene in Sihanoukville with the donation of handwashing stations and continues to support a Swiss watchmaking school in Phnom Penh – Prince Horology. At the national level, the Group has launched the Chen Zhi Scholarship and will work with universities and the government to ensure the success of the programme.

“I am pleased to get a chance to visit the headquarters of Prince Group and get to know the team at Prince Foundation, especially as we have a shared mission to enhance educational outcomes in Cambodia,” said Bryan.

Prince Holding Group, Chairman Chen Zhi through its charitable arm Prince Foundation, follows the vision statement: ’Together, Building a Better Future for Cambodia‘. It is actively exploring strategic collaboration opportunities with NGOs that have demonstrated excellence in their endeavours and who are working to make a difference in the Foundation’s three core focus areas of education, healthcare and community engagement.

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MoU signing held at MoEYS between Prince Foundation and Plan International Cambodia, with H.E. Dr. Hang Chuon Naron as Guest of Honour

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