Charity arm of Prince Group aims to be more strategic and investment-oriented in approach
The masterplan for Ream City in the Sihanoukville province of Cambodia was recently unveiled, set to transform the region into an exciting destination. With a beachfront stretching beyond 6 km, this large-scale development will incorporate a sustainable ecosystem of tourism, commercial, and residential activity that has the potential to house up to 130,000 residents.
Prince Group secures a Silver Stevie® Award for COVID-19 Response – Most Valuable Corporate Response becoming the only firm in Cambodia to win in the category [Phnom Penh, 12 May, 2021] – Prince Holding Group (“Prince Group”), one of Cambodia’s largest and fastest growing conglomerates, has emerged as a Silver winner in the eighth annual Asia-Pacific Stevie Awards (one of the most recognizable business awards globally) in the COVID-19 Corporate Response category. Prince Group was the only firm from Cambodia recognized in a category seeking to recognize excellence in COVID-19-related crisis management by Asian corporates. The Asia-Pacific Stevie Awards are the only business awards program to recognize innovation in the workplace across all 29 nations in the Asia-Pacific region. The Stevie Awards are widely considered to be the world’s premier business awards, conferring recognition for achievement in programs such as The International Business Awards® for 19 years.
PHNOM PENH, CAMBODIA – 8 December 2020 – COVID-19 has highlighted the importance of environment, social and governance (“ESG”) practices at companies across the world. But there was talk of change even before the outbreak of the pandemic. Last year, the Business Roundtable (a group representing 181 CEOs of America’s largest corporations) outlined that companies must “support the communities in which they operate”, upturning the longstanding focus on wealth maximization for shareholders espoused by American economist Milton Friedman.
In 2020, times have changed.
This year, Prince Holding Group (“PHG”), one of the largest conglomerates in Cambodia, has realized this and blazed a trail for companies in the Kingdom looking to follow ESG principles. Since April, the Group has made several large-scale donations to help in the fight against the pandemic and assist flood victims, and Neak Oknha Chen Zhi (陈志公爵), PHG chairman, has been the driving force behind the donations. For example, in early December, Chen Zhi and PHG donated US$3,000,000 to Prime Minister Hun Sen to help Cambodia purchase 1 million COVID-19 vaccines.
PHNOM PENH, CAMBODIA – 18 December 2020 – There are multiple ways companies can achieve their environment, social and governance (ESG) responsibilities. Investing in sports development is one approach as it contributes to youth development, education, and health, sectors in Cambodia that Chairman Neak Oknha Chen Zhi (陈志公爵) andPrince Group strongly believe in.
The benefits of sports development in countries like Cambodia are well documented. Countries with a healthy sporting culture generally see over time reduced healthcare costs and improved social cohesion. A strong believer in the potential of Cambodia, Chen Zhi participates in any opportunity that can help raise Cambodia’s international standing, such as sports development.
PHNOM PENH, CAMBODIA – Media OutReach – 30 December 2020 – Around the world, the COVID-19 pandemic has reset fundamental assumptions underpinning various industries. In Cambodia, environmental conservation is now an important feature in recovery efforts for the agriculture sector, and Neak Oknha Chen Zhi (陈志公爵) and Prince Group are spearheading change in the sector.
Agriculture is a mainstay in Cambodia employing more than a third of the workforce, and the current crisis is an important moment for the sector as it faces an opportunity to “build back better”, according to CGIAR, the world’s largest agricultural research network.
BEIJING, CHINA – 20 January 2021 – The global pandemic has changed the working lives of many people across the world, including in Cambodia. Chairman Neak Oknha Chen Zhi (陳志公爵) and Prince Group, being a responsible corporate citizen, have opened the Prince Horology Vocational Training Center, Cambodia’s first independent watch school. The training center gives Cambodians the opportunity to learn a new artisanal skill — watchmaking — and gain the necessary experience to help them in job markets in Cambodia and abroad. The training center follows the strict regulations for watchmaking outlined by regulatory bodies in Switzerland.
HONG KONG SAR – Media OutReach – 27 January 2021 – Prince Real Estate Group, a member of Prince Holding Group Chairman Chen Zhi, a leading conglomerate in Cambodia, has successfully conducted an investment agreement ceremony of Prince Square. The project will be the real estate developer’s first commercial retail project in Phnom Penh, Cambodia and it will bring a slew of well-known brand names like Adidas, Levi’s, Skechers, Nike by Supergo, Huawei, OPPO, Potato Corner, Dakasi, Panda Cake and Pizza Hut to the city.