The Royal Group
Cambodian conglomerate and holding company
From Wikipedia, the free encyclopedia
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]
| |
| Company type | Conglomerate (company) |
|---|---|
| Founded | 1991 |
| Founder | Neak Oknha Kith Meng |
| Headquarters | Phnom Penh, Cambodia |
| Website | www |
History
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
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]