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Cambodia’s Wheelchair Basketball Squads for 12th ASEAN Para Games 2023 Take Centre Stage
27th June, 2022 | 2022, ESG
Cambodia’s Wheelchair Basketball Squads for 12th ASEAN Para Games 2023 Take Centre Stage

The Cambodia Wheelchair Basketball Federation (“CWBF”) unveiled its national squad that is set to prepare for the 12th ASEAN Para Games 2023 during the federation’s inaugural general meeting today at Prince Holding Group headquarters.

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23rd June, 2022 | 2022, ESG
Prince Group, Plan International Completes Handover of 198 Hand Washing Stations for 99 Schools in Sihanoukville

Prince Foundation, the philanthropic arm of Prince Holding Group, and Plan International (Cambodia) officially completed the handover of 198 pedal-operated handwashing stations benefitting 99 schools in Sihanoukville, presided over by H.E Kouch Chamroeun, the Governor of Sihanoukville and attended by officials from Provincial Office of Education, Youth and Sport.

The handwashing stations are distributed among 99 institutions, including 72 primary schools, 18 lower secondary schools, and 9 high schools around Preah Sihanouk Province. It is taking place as part of the six-month long Safe to School project, from January to June 2022, implemented by Prince Foundation, Plan International Hong Kong and Plan International Cambodia. The scheme aims to ensure that students have access to proper hygiene facilities as they return to school following the COVID-19 pandemic.

“Almost 40 thousand school children, with a fairly even split between boys and girls, will practice improved hand hygiene in schools in Sihanoukville, with the easy-to-use and disability-appropriate pedal-operated handwashing stations that we have provided,” Gwynneth Wong, Country Director of Plan International Cambodia.

“We want to ensure that students improve their hand sanitation, which is very important for their health and safety at schools following the pandemic, and we are very pleased to get an opportunity to work with Plan International Cambodia and Ministry of Education, Youth and Sports,” said Gabriel Tan, Chief Communications Officer, Prince Holding Group.
Prince Holding Group, under the leadership of Chairman Chen Zhi, has a keen focus on human capital development to aid economic growth for the Kingdom.

Prince Group believes that good hygiene is also expected to foster a better environment, thereby enhancing learning and the quality of education, which is one of the focuses (education, healthcare and community outreach) of Prince Foundation.

About Prince Holding Group:

Prince Holding Group is one of Cambodia’s largest business groups spanning across real estate development, financial services and consumer services.

Prince Holding Group’s key business units in Cambodia include Prince Real Estate Group, Prince Huan Yu Real Estate Group, Prince Bank, Cambodia Airways, Belt Road Capital Management, as well as Awesome Global Investment Group. Via its subsidiaries, Prince Holding Group has over 80 businesses in Cambodia operating in real estate development, banking, finance, aviation, tourism, logistics, technology, food and beverages, and lifestyle sectors etc.

Leveraging a network of industrial, business and financial professionals across Asia, Prince Holding Group has laid the foundation to be a vital conduit for local and international capital. Moving forward, Prince Holding Group will continue to seek out opportunities to play an important role in Cambodia, through partnerships or direct investments into key industries for the betterment of Cambodians and the local economy.

About Prince Foundation:

Prince Foundation, founded in 2015, is one of Cambodia’s leading philanthropic foundations. A member of Prince Holding Group, which is one of the largest business groups 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”.

Focusing on education and youth development, healthcare, and community engagement initiatives, Prince Foundation works with partners to deliver sustainable programs that enhance opportunities for Cambodia’s youths, build resilience in communities and contributes to sustainable infrastructure.

The Foundation’s flagship projects are the Chen Zhi Scholarship, offering full scholarships, stipends, internship and work opportunities to 400 Cambodian university students over a period of seven years, and Prince Horology, where aspiring Cambodian watchmakers learn the art of Swiss-style watchmaking in a state-of-the-art facility. Prince Foundation has launched more than 250 philanthropic initiatives, benefiting over 500,000 people, with donations exceeding US$14 million.

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

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13th June, 2022 | 2022, ESG
World Bank Delegates Witness Swiss-Style Watchmaking in Cambodia

Prince Horology was delighted to welcome delegation from the World Bank led by Dr. Abla Safir, Senior Economist, and Ms. Ratana Phurik- Callebaut.

The delegation was received by Mr. Gabriel Tan, Chief Communications Officer of Prince Holding Group and Ms. Jessica Thakur, a Swiss-trained instructor, who gave a comprehensive presentation about the school. During the visit, Dr. Abla and Ms. Ratana also met with young, aspiring Cambodian students, understanding their aspiration and challenges in learning the intricate process of Swiss-style watchmaking. The delegation also discussed the career pathway of the graduating class and Cambodia’s skills development with executives of Prince Holding Group.

“I am thankful to Prince Horology for the visit and to their students for sharing their training experience with us,” said Dr. Abla.

“We are delighted to host the visit today. This has given us an opportunity to discuss the vision of the training program and how it will meet the needs of Cambodia’s labor market in the future,” said Gabriel Tan, Chief Communication Officer of Prince Holding Group.

Prince Holding Group is elated to play a pivotal role in nurturing local talent who will one day help build a better Cambodia.

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9th June, 2022 | 2022, ESG
Prince Foundation Sparks Entrepreneurial Spirit in 312 ITC University Students

(Phnom Penh, 8 June) Setting bold goals is key to achieving a quantum leap in one’s entrepreneurial journey, the Director of Marketing and Planning of Prince Real Estate Group (PRE), Donald Yeo, told an audience of 312 university students from the Institute of Technology of Cambodia (ITC) during a half-day entrepreneurship seminar at the campus.

PRE jointly with its parent company’s philanthropic arm, Prince Foundation, kicked off its inaugural “First Step to Success” roadshow seeking to spark entrepreneurial interest amongst university students through ideas and expertise sharing by subject matter experts. The fun-filled roadshow uses gamification and reward challenges such as trivia and word games to encourage interactive learning among the students.

The entrepreneurship roadshow is part of the Foundation’s efforts to strengthen human capital upskilling in line with its education and youth development core pillar. Motivational speaker Phal Chanseri Rith and fast-rising entrepreneur Heang Omuoy respectively shared challenges and opportunities faced along their entrepreneurial journey.

“Over the past 2 years, the pandemic presented challenges for university students to attend in-person enrichment seminars. Prince Foundation is honored to be among the first entities to offer this opportunity again,” said Gabriel Tan, Chief Communications Officer of Prince Holding Group.

“We strongly believe that great success awaits students who proactively seize opportunities to increase their entrepreneurial knowledge, paired with the upcoming entrepreneurial programme we are planning to roll out,” he added.

The entrepreneurial program is open to all existing university students in Cambodia, sign up is available here.

ITC is one of the four lead Cambodia universities partnering with Prince Foundation for the Chen Zhi Scholarship. On top of healthcare and community engagement, education is among the three pillars of Prince Group’s ESG strategy.

About Prince Holding Group:

Prince Holding Group is one of Cambodia’s largest business groups spanning across real estate development, financial services and consumer services.

Prince Holding Group’s key business units in Cambodia include Prince Real Estate Group, Prince Huan Yu Real Estate Group, Prince Bank, Cambodia Airways, Belt Road Capital Management, as well as Awesome Global Investment Group. Via its subsidiaries, Prince Holding Group has over 80 businesses in Cambodia operating in real estate development, banking, finance, aviation, tourism, logistics, technology, food and beverages, and lifestyle sectors etc.

Leveraging a network of industrial, business and financial professionals across Asia, Prince Holding Group is firmly committed to the long-term development of Cambodia. Prince Holding Group is developing an almost 1000-hectare township project in the Ream coastline of Sihanoukville that will be one of Cambodia’s leading sustainable real estate developments, aiming to secure close to $16 billion in total investment for the region.

Moving forward, Prince Holding Group will continue to seek out opportunities to play an important role in Cambodia, through partnerships or direct investments into key industries for the betterment of Cambodians and the local economy.

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 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”.

Focusing on education and youth development, healthcare, and community engagement initiatives, Prince Foundation works with partners to deliver sustainable programs that enhance opportunities for Cambodia youths, build resilience in communities and contributes to sustainable infrastructure.

The Foundation’s flagship project is the Chen Zhi Scholarship, an annual scholarship scheme in conjunction with Cambodia’s Ministry of Education, Youth and Sport that offers full scholarships, stipends, internship and work opportunities to 400 Cambodian university students over a period of seven years. Prince Foundation has launched more than 250 charity events, benefiting 500,000 people, with donations exceeding US$14 million.

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3rd June, 2022 | Business, 2022
Prince Holding Group, a Cambodian Home for ASEAN Talent

Malaysian Business Chamber of Cambodia (MBCC) President Tan Khee Meng (KM Tan) recently led a delegation to meet with Malaysian and Singaporean management of Prince Holding Group at its headquarters, commemorating the Group becoming an Associate Corporate Member of MBCC, as well as to explore future collaboration and partnerships.

Also present at the visit, MBCC Vice President Mohan Bandam and publisher of Khmer Times, Wong Kee Poh, CEO of RHB Bank Cambodia, Ong Ming Teck, CEO of Cambodian Public Bank, and MBCC’s Secretary Lim Eu Jin.

According to Prince Holding Group’s Chief Financial Officer, Michael Chiam, the Group is pleased to have hired more than 30 Malaysian employees since its establishment in 2015. Michael, a Malaysian, joined the Group in 2020 being a firm believer in the rapid development and potential of Cambodia.

Gabriel Tan, Chief Communications Officer hailing from the southern tip of the Malay Peninsula, Singapore, says that the Group is increasingly demonstrating inclusion and recognition of talents from its ASEAN counterparts by hiring Singaporeans, Malaysians, Cambodians, and more.

Founded in 1993, MBCC serves as a platform for members to broaden business networking, enhance engagements with relevant government agencies, and support the growth of Malaysian businesses in Cambodia.

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31st May, 2022 | 2022, Business
Prince Trust, Cambodia Investment Management, and Realestate.com.kh Join to Promote Cambodia’s Trust Law to Foreign Investors

A leading trust company, investment advisory, and real-estate listing firm have joined hands to enable international investors to understand the compliance and restrictions of the Cambodian Trust Law for ease of assets ownership in the Kingdom.

The board director of Prince Trust, Michael Chiam, CEO of Cambodian Investment Management, Anthony Galliano, and CEO of Realestate.com.kh, Tom O’Sullivan signed the tripartite agreement during the ceremony at Prince Holding Group headquarters.

Based on the agreement, the three parties will work towards the co-creation of joint capabilities in attracting investment by providing a seamless, trustworthy, and transparent experience for international investors. The trio will also collaborate on opportunities to attract inbound investments through Cambodian Trust Law.

With Cambodia experiencing rapid growth and the passage of the Trust Law in 2019, Prince Trust aims to assist investors looking to venture into Cambodia.

Prince Trust, a Cambodian Trust Company, can hold landed properties in Cambodia on behalf of foreign entities and individuals. In addition to asset safekeeping, Prince Trust can assist in property asset (both landed and buildings) management, rental income collection, and sale of property assets.

A Trust is one of the mechanisms to help investors manage their assets when the person setting up the trust (called the grantor, settlor, or trustor) transfers purchased assets to the trustee, who then manages the trust for the benefit of the grantor and their beneficiaries.

For more information, please visit www.princetrust.com, www.princeholdinggroup.com, www.linkedin.com/company/cambodian-investment-management/ and www.realestate.com.kh

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27th May, 2022 | 2022, Business
Prince Bank and WOWNOW Super App partnered up to enhance the online payment with special benefits for its customers during the launch

Together they try harder so you can enjoy better online purchase conveniences that is convenient, easy, and secure

Prince Bank Plc. and WOWNOW Super App today launched the partnership that enables a simpler and secured online payment via Prince Bank account on the WOWNOW Super App mobile application. With this seamless payment solution, customers can have a simpler checkout process that is faster and more secure for them. This innovation is part of Prince Bank’s continuous drive in trying harder for its customers, supporting them to live the digital lifestyle they so value.

Prince Bank Plc, a multiple award-wining bank through its branch network, self-service ATMs, drive-through ATM, and Prince Mobile, the most versatile and comprehensive mobile banking app, has been continuously innovating to bring new and improved products and services for its customers. Today, marks another milestone with this new feature for Prince Bank customers with WOWNOW Super App, providing banking services that are convenient, easy & secured.

WOWNOW is the first Super App in Cambodia that provides lifestyle services through a digital platform that integrates Food Delivery, Online Shopping, Payment Services, and Local Services. More about other services such as phone top-up, reserving restaurants for the special days, beauty salons, and many other places with the big discounts by Local Services on WOWNOW Super App.

Mr. Honn Sorachna, Managing Director and CEO of Prince Bank shares “The pandemic has brought about unprecedented changes in consumer behavior by converting consumers from traditional payment methods to digital payments, which is a concurrent trend in online or mobile shopping or food ordering and payment rise in a short period of time. Therefore, the enhancement and extension of digital payment solutions are very crucial in serving the needs and changing the behavior of consumers.”

“The partnership with WOWNOW Super App is another remarkable innovation achievement for Prince Bank in expanding our digital payment services for consumers in Cambodia. We have been working tirelessly to make this partnership happen to create a seamless customer experience with digital payment which they can enjoy with ease and peace of mind when ordering and making payments on a single platform. New and existing customers can enjoy their online ordering on WOWNOW Super App with many special benefits from us. At Prince Bank, we have always tried harder to bring new innovations and enhanced digital banking solutions to meet the needs of our customers. New customers of Prince Bank will be able to enjoy PRINCE Mobile, a multiple award-winning banking app too”. He added.

“It is an amazing opportunity for WOWNOW Super App to bring our users another beneficial payment method in partnership with Prince Bank. Starting from this prestigious moment onwards, the simple and easy lifestyle people have been imagining is coming into reality for everything is on WOWNOW Super App with the greatest payment method that goes beyond their banking needs provided by Prince Bank. WOWNOW – It’s WOW or Never!” – Mr. Kevin Zheng, General Manager of WOWNOW Super App, said.

To celebrate this partnership, Prince Bank and WOWNOW Super App launched a joint promotion for its customers “Spend $6 up, get an instant $2 off” for orders on the WOWNOW Super App when they choose to pay via Prince Bank account. What’s more, there are additional offers of random Prince Reward Points on the next day, surprise gifts from the deliveryman, and a free delivery coupon for the next order too.

Anyone can now open a PRINCE eAccount via PRINCE Mobile from anywhere securely and start to enjoy this promotion too.

For further information about this launch special deal, please visit www.princebank.com.kh or contact our contact center at 1800 20 8888 (Toll-free).

About Prince Bank Plc.

Prince Bank Plc. 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 80 ATM locations nationwide.

About WOWNOW Super App

WOWNOW is Cambodia’s largest Super App providing lifestyle services since 2020 for the people living in Cambodia. The value it creates serves over 800 000 users; not only to help everyone eat better but also to improve their lifestyles by helping them live and shop easily. The people will enjoy choices of food and beverage with more than 13,000 merchants available on the app with fast 24/7-delivery services. What’s even more special, people can do online shopping from local and overseas; reaching oversea suppliers’ catalogs with Khmer & English translated descriptions in over 100,000 stores and more than 20 million products which are delivered directly and securely to their selected addresses nationwide.

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23rd May, 2022 | ESG, 2022
Prince Foundation Continues Strategic Rebranding with Launch of Dual Language Official Website.

Prince Foundation, the philanthropic arm of Prince Holding Group, one of Cambodia’s largest business groups spanning across real estate development, financial services and consumer services, today expanded its digital footprint with the launch of a dual language official website – www.princefoundation.com (http://www.princefoundation.com/) for English readers, and www.princefoundation.com/kh catering to Cambodian readers.

The launch of Prince Foundation official website is a continuation of its rebranding exercise during its sixth-year anniversary in August 2021, to emulate best practices followed by international corporate foundations, under the leadership of Neak Oknha Chen Zhi, chairman of Prince Holding Group.

The launch of an official website aims to enhance transparency by hosting written, pictorial and video content across its various initiatives in education, healthcare, and community outreach.

“We hope our official website will serve as a one-stop information hub that outlines the Foundation’s past and present strategic partnerships and efforts,” said Gabriel Tan, Chief Communications Officer, Prince Holding Group. “This way, our stakeholders and potential partners will be able to better familiarize and understand what the Foundation is working on, through a single convenient platform.”

Apart from providing access to visitors on news updates and annual reports, the official website also offers a photo gallery and the latest video content produced by the philanthropic arm. The website also has a dedicated page for its annually funded scholarship program – Chen Zhi Scholarship.

With a strategic and investment-oriented approach, Prince Foundation seeks to integrate more closely with Cambodia’s national development goals and aims to be a transparent, holistic, and efficient corporate foundation.

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16th May, 2022 | 2022, ESG
High School Students Supported by Caring for Cambodia Visit Prince Headquarters

Prince Foundation hosts a delegation of high school students and introduces young talented Cambodians working at the firm.

The delegation of 12 students and two members from Caring for Cambodia (CFC) led by Deputy Country Director at CFC, Rebecca Large, were warmly welcomed by delegates from Prince Holding Group and Prince Foundation at its headquarters in Plov Koh Pich, Phnom Penh.

These students are from two high schools undergoing the Career Preparation Programme in Siem Reap, Cambodia, sponsored by Prince Holding Group.

Prince Foundation representatives spoke to the students and explained the need for upskilling across Cambodia. A half an hour sharing session by new-to-corporate employees and interns described how international and local mentors within the group helped them grow in prospect, and be more prepared for the future.

“Inspiration is like a seed that needs to be planted,” said Gabriel Tan, Chief Communications Officer of Prince Holding Group. “We hope a tour of our headquarters and the experience exchange from our young employees can inspire these students to pursue their post-secondary education.”

Earlier this year, Bryan Morytko, Executive Director at CFC visited the Group’s headquarters after Cambodia reopened its international border. The duo reaffirmed its continuous commitment towards education in Cambodia and expressed interests to continue collaborating through the Career Preparation Programme.

“We are glad to have been invited by Prince Holding Group and introduce our students to novel work environments,” said Rebecca Large. “Raising awareness on the importance of education is a continual process and we highly appreciate such corporate initiatives.”

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6th May, 2022 | 2022, ESG
High-level delegation from the Ministry of Foreign Affairs and International Cooperation Visits Prince Horology to Observe Swiss-style Watchmaking in Cambodia

@Prince Horology was delighted to receive the delegation from the @Ministry of Foreign Affairs and International Cooperation (MFAIC), led by His Excellency Luy David, Secretary of State and Chair of the Secretariat of the National Committee for the preparation of ASEAN Summits and related meetings in 2022, His Excellency Prak Phalla, Advisor to Samdech Techno Prime Minister Hun Sen, and His Excellency San Chanrithy, Advisor and Director of Finance Department.

The delegation was received by Mr. Gabriel Tan, Chief Communications Officer of Prince Holding Group, while Mr. Maarten Pieters, a Swiss-trained instructor gave a comprehensive presentation about the school. During the tour of the school, the high-level officials also met with young, aspiring Cambodian students of the Swiss-style watchmaking.

“I am very happy to learn that Prince Horology has been established in 2019 in Cambodia, to provide Swiss-watchmaking vocational training. I’m particularly touched to know that the school is currently training 6 young talented Cambodian people who are diligent and aspire to graduate as pioneering Swiss watchmakers. This is a pride for Cambodia!” said H.E. Luy David, Secretary of State, MFAIC.

“With Cambodia holding the ASEAN chair this year, we look forward to more active involvement in ASEAN initiatives this year, including the upcoming ASEAN Summit in November to play our part in ensuring the international event brings pride to everyone in Cambodia, much as we are trying to achieve the same here through Prince Horology,” said Gabriel Tan, Chief Communications Officer of Prince Holding Group.

At Prince Holding Group, we are proud to play our part in nurturing local talent that will contribute towards building a better future for Cambodia.

#phg #mfaic #cambodia #princefoundation

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3rd May, 2022 | Business, 2022
Prince Bank and Ria Money Transfer partner up to enhance international fund transfers in Cambodia

Prince Bank Plc, one of the fastest-growing banks in Cambodia, and Ria Money Transfer, a business segment of Euronet Worldwide, Inc. (NASDAQ: EEFT) and a global leader in the cross-border money transfer industry, today announced a business partnership to enable customers to do international remittance through Prince Bank’s channels.

Customers now can send and receive money internationally through any of its thirty-two Prince Bank branches nationwide via the Ria Money Transfer and have access to Ria’s extensive global network of more than 490k locations. At the same time, by the end of May, customers will be able to use their PRINCE Mobile app to make money transfers through Ria seamlessly in a secured and convenient platform. This brings significant benefits to international funds transfer as customers can send money anywhere, anytime through the app conveniently and securely. Prince Bank has invested heavily in digital enhancements and transformation to be at the forefront of the current digital age, all aimed at better serving our customers in Cambodia.

“At Prince Bank, we have a long-term vision of providing the best banking service to serve our customers locally and globally, and international remittance is one of the crucial services that pivots towards the vision & business objectives. At Prince Bank, we constantly try harder to not only meet but exceed our customers’ needs and wants. Ultimately, we want to be the bank of choice for Cambodians” said Mr. Honn Sorachna, Managing Director and CEO of Prince Bank.

“It is an honor & great opportunity for Prince Bank to partner with Ria Money Transfer to enhance our international remittance services. We have always strived to use innovation to provide the best solution and services, and we work harder to fulfill the needs of our customers with a more cost-effective method of financial services.” He added.
Ria is the second-largest cross-border money transfer in the world with a network of almost 500,000 locations in more than 160 countries including the USA, South Korea, Thailand, Philippines, China, Malaysia, India, Australia, Vietnam, among others, and it continues to make the world a smaller place by closing distances between families and their loved ones through unparalleled services.

“This partnership with Prince Bank is another step forward in providing more convenience and access to unparalleled money transfer services to customers in Cambodia, bringing added benefits to both senders and beneficiaries in the country,” said Espen Kristensen, Managing Director APAC. “By providing access to such vast cash pickup locations we aim to offer a new level of convenience, and by enabling real-time bank deposit transfers, we make it possible for beneficiaries to collect funds within minutes, offering a new level of ease and peace of mind to our customers, while contributing to financial inclusion in the region.”

H.E. Rath Sovannorak, Deputy Governor and Director General of Banking Supervision of the National Bank of Cambodia said, “Congratulations to all the management and staff of Prince Bank and RIA Financial Services for this partnership. The signing ceremony is a testament to the continued growth of the banking and financial sector in the age of financial technology (FinTech) and the public’s trust in the sector. The partnership between Prince Bank and RIA Financial Services to operate as a third party operator is part of the development of the financial technology sector by providing payment and remittance services as well as enhancing the financial environment.”

With this launch, we have a special offer to all customers by waiving the fee for the first 100 outbound transactions. Customers can make the transfer at any Prince Bank branch across the country. For more information about Prince Bank’s products & services, kindly visit us at www.princebank.com.kh or contact our Contact Center at 1800 20 8888.

About Prince Bank Plc.

Prince Bank Plc. 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 79 ATM locations nationwide.

About Ria Money Transfer

Ria Money Transfer, a business segment of Euronet Worldwide, Inc. (NASDAQ: EEFT), delivers innovative financial services including fast, secure, and affordable global money transfers. With the second most extensive cash settlement network and the largest direct bank deposit network in the world, Ria gets money to where it matters.
Ria’s connection to Euronet Worldwide’s REN payments platform and Dandelion network, a global payments infrastructure that delivers real-time transactions, enables the company to provide access to state-of-the-art fintech products and services at the forefront of its industry. Bridging the gap between digital and physical transactions, Ria’s omnichannel products and services, together with the company’s rapidly expanding alternative global pay-out capabilities, provide unprecedented consumer choice, including agents and partners, real-time payments, home delivery, mobile wallets, and cardless ATM payouts (exclusively with Ria). Ria’s global infrastructure facilitates financial access to customers and partners alike, promoting economic growth around the world by opening new market opportunities. Ria opens ways for a better everyday life.

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29th April, 2022 | 2022, ESG
Canopy Sands Development Hosted Phare Performing Social Enterprise for Catch-Up Session.

Those of us from Canopy Sands Development, a unit of Prince Holding Group, are excited to have hosted Dara Huot, Chief Executive of Phare Performing Social Enterprise, and his team, a Siem Reap social enterprise that supports Phare Ponleu Selpak NGO in Battambang in improving the lives of children, young adults, and their families through art schools, educational programs, and social support since 1994.

We shared with Phare our plans for Sihanoukville where a major coastal development project will achieve to revitalize Cambodia’s third-largest city through world-class projects and inclusive development.

In terms of community engagement at Sihanoukville, we had Prince Foundation, our philanthropic arm, working together with Plan International (Cambodia) for schools to re-open safely at the start of the year!

We have also attended a recent Phare Punleau Selpak fundraiser at Rosewood Phnom Penh, as we do our small part to appreciate the incredible work, they are doing to improve the lives of Cambodians through arts-related education.

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29th April, 2022 | 2022, ESG
Canopy Sands Development Expresses Admiration for Bilateral Relations Demonstrated by Cambodia Sailing Federation.

Our colleagues at Belt Road Capital Management (BRCM) had a great time meeting up with the Cambodian Sailing Federation (CSF) today. Meng Wang, Advisor of CSF and Som SothRithypong, Secretary General of CSF works closely with the Singapore Sailing Federation to advance sailing as a sport in Cambodia.

We briefly introduced a major project we are working towards along the Ream coastline of Sihanoukville, just 10 minutes away from the Sihanoukville airport to our guests. We also learn that CSF trains primarily in the coastal waters of Sihanoukville, as part of their preparations for the upcoming SEA Games next year that will be held in Cambodia!

“We deeply admire the efforts in driving bilateral relations through the exciting sport of sailing as demonstrated by the close ties between the Cambodia Sailing Federation and the Singapore Sailing Federation, and through sessions like this, we are able to exchange thoughts on future developments for Sihanoukville”, said Michael Yong, Investment Director at Canopy Sands Development.

“We are impressed at the commitment of Canopy Sands Development to develop the Ream coastal area in Sihanoukville, and look forward to seeing more upcoming projects that will benefit and uplift the community and our beloved sport of sailing,” said Meng Wang.

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7th April, 2022 | 2022, Business
Prince Bank Plc. invested an additional $35 Million in the Techo International Airport (TIA) Guaranteed Bond

Prince Bank Plc. invested an additional $35 million, totaling $50 million in the Techo International Airport (TIA) Guaranteed Bond today. Prince Bank is honored to be part of this important transportation infrastructure development that will bode well for the Kingdom in decades to come. Prince Bank is the first and now largest subscriber of the TIA bond issue.

Together with Cambodia Airport Investment Co., Ltd. (CAIC) and Overseas Cambodian Investment Corporation (OCIC), a signing ceremony was held for the additional investment of $35 million on the Guaranteed Bond Agreement. This signing ceremony was witnessed by Neak Oknha Dr. Pung Kheav Se, the Chairman of OCIC and CAIC, and Neak Oknha Chen Zhi, the Chairman of Prince Bank Plc. The agreement was signed by Mr. Honn Sorachna, the CEO and Managing Director of Prince Bank Plc. and Mr. Charles Vann, the Director of CAIC. Also present were the Directors and Senior Management of OCIC, CAIC, and Prince Bank.

The Techo International Airport Guaranteed Bond Issue (TIA) is a private corporate bond issued by Cambodia Airport Investment Co., Ltd. (CAIC) for the construction of the Techo International Airport located south of Phnom Penh.

Neak Oknha Chen Zhi, the Chairman of Prince Bank Plc. said that “It is our honor & pleasure to be a part of this great milestone for the Kingdom of Cambodia. Prince Bank has been supporting the Royal Government of Cambodia in many aspects of developing the country. With the positive traction in global trade and international travels, we anticipate this Techo International Airport will play an important role in air transportation for business and leisure travelers to visit Cambodia. It will also bode well for our economy, supporting commerce and the creation of more job opportunities and a better living standard for Cambodians.”

Mr. Honn Sorachna, the CEO and Managing Director of Prince Bank also shares, “As one of the fastest-growing major financial institutions in Cambodia with a strong capital base, Prince Bank wants to be involved and supports our country’s development through re-investment and community service. At Prince Bank, we are not only working harder to bring creative products & services, and better financial solutions to our customers, but to support our economy and country as a whole.”
With a strong foundation, not only does Prince Bank aspires to become the bank of choice in Cambodia, and we have never stopped improving and developing innovative banking products and services to serve the needs & wants of our different client segments. Operating as a full commercial bank since July 2018, Prince bank’s total assets now stand at over $800 million with 32 branches, 79 ATMs, and over 80,000 customers, which is growing from strength to strength.

For more information about Prince Bank’s products & services, kindly visit us at www.princebank.com.kh or contact our Contact Center at 1800 20 8888.

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6th April, 2022 | 2022, Business
Prince Bank Plc and Plaza Premium Lounge extend their partnership, offering free access to world-class airport lounges for Prince Bank customers

Prince Bank Plc and Plaza Premium Lounge in a signing ceremony today, inks their partnership extension at the Phnom Penh International Airport bringing continued free access to Plaza Premium Lounges and Partner Lounges around the World for its customers.

Airport lounges have played an important role in a traveler’s journey, a haven within any busy airport providing rest or recharge. Prince Bank’s select group of customers have enjoyed free access to Plaza Premium Lounges since 2020, and now we are extending our partnership to continue bringing world-class services and experiences to Prince Bank customers who are accustomed to the level of service, comfort, and convenience while traveling through airports.
Mr. Honn Sorachna, Managing Director and CEO of Prince Bank Plc said, “we are constantly working harder for our customers so that their journeys are enhanced by these conveniences, comfort, and traveling-in-style for them.” He further adds as we are gradually seeing positive signs of air travel resuming especially amongst business travelers, and the pent-up demand of leisure travelers, this card benefit will surely be appreciated by our customers”.

“Prince Bank have been working harder in every way to bring more innovative products and services to serve our customers’ needs appropriate for their phases in life, for instance we have just introduced a home refinancing loan which offers the lowest rate in town at 6.68% with zero percent loan approval fee, that’s coupled with ease & convenience of application and repayments and many more new products to be launched in the coming weeks”, said Mr Sorachna.

“Firstly, we are glad to be partnering with Prince Bank in providing seamless airport services to their esteemed clients. This is an exciting opportunity for Plaza Premium Group as we continue to strengthen our business relationship with local financial institutions. Our aim is to extend its 360-degree world-class airport hospitality services & facilities in Cambodia, and we are on track, especially during the traveling revival. We look forward to delivering our award-winning, best-in-class signature aviation hospitality services including Airport Lounge, Airport Meet & Greet, in-Terminal Airport Hotel, Airport Dining, and other premium airport services in Cambodia.” shares Mr. Cavin Loh, Regional Director of Sales and Marketing, Southeast Asia. Plaza Premium Lounge is the world’s largest independent airport lounge network, providing a space with top-notch services and facilities for travelers departing, transiting, and arriving at major airports around the world.

With this partnership extension, the following Prince Bank customers can access Plaza Premium Lounges and its Third-party Lounges worldwide, up to 1280 lounges in 148 different countries. Prince Bank’s Priority Banking ATM cardholder gets 4 times free access per year; Mastercard Platinum Credit/Debit card gets 6 times free access per year; Visa Platinum Credit/Debit card gets 6 times free access per year, and UnionPay Diamond Credit card gets 8 times free access per year.

If you haven’t had any of the above cards, apply today for a Prince Bank Priority Banking ATM card or any type of Prince Bank Platinum/Diamond card to enjoy the privileges and incredible offers from Prince Bank and Plaza Premium Lounge.
For more information about the products and services, please visit www.princebank.com.kh or contact our contact center at 1800 20 8888.

About Prince Bank Plc.
Prince Bank Plc. 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 79 ATM locations nationwide.

About Plaza Premium Lounge
With a mission of “making travel better”, Plaza Premium Group is a pioneer and the market leader in airport hospitality services with an international footprint of over 180 locations across 49 airports in 25 countries and regions, serving 20 million travelers annually. The group comprises four core business segments – airport lounges Plaza Premium First and Plaza Premium Lounge; airport terminal hotels Aerotel and Refresh by Aerotel; airport meets & greet services ALLWAYS and a range of Airport Dining concepts. In addition to its own brands, Plaza Premium Group provides airport hospitality solutions to leading airlines, alliances, and corporates around the world, including but not limited to Cathay Pacific Airways, Singapore Airlines, Lufthansa, and China Southern Airlines, Star Alliance, SkyTeam, American Express and many more. By continuously innovating and striving to surpass travelers’ expectations of airport experiences, the group is growing exponentially across major international airports globally. The group has won more than 60 accolades in the last five years, and in 2020, the Group has successfully been awarded ISO 9001:2015 for Hong Kong Headquarters, proving the quality management in providing airport lounge services.

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30th March, 2022 | 2022, ESG
Philanthropist and Watch Afficionado, Chen Zhi, Instills Confidence in Future Cambodian Watchmakers with Class Visit

Philanthropist and Watch Afficionado, Chen Zhi, Instills Confidence in Future Cambodian Watchmakers with Class Visit.

Neak Oknha Chen Zhi, Chairman of Prince Holding Group, one of the largest and fastest-growing conglomerates in Cambodia, visited students of Prince Horology Vocational Training Center undergoing training in the art of Swiss watchmaking.

The 6 Cambodians students, currently under full scholarships and stipend, are set to graduate as the first watchmakers in Cambodia who can repair and assemble watches to Swiss standards – considered widely as the benchmark in the world of luxury watches.

Chen Zhi has paid keen attention to the institute in his personal capacity, supported through Prince Foundation, the philanthropic arm of the Group. The center forms a key linchpin of the Group’s broader efforts to elevate education across Cambodia via scholarship programmes, thought leadership trainings, and other CSR initiatives.

“Three years back, this was just a vision,” shares Chen Zhi. “I am impressed with the progress that has been made since we founded the school before the start of the pandemic and I look forward to see the birth of Cambodia’s first-ever watchmakers trained to Swiss standards.”

Learning all about horology at a center with best-in-class equipment and from international experts, Chen Zhi hopes the passion of these future pioneer watchmakers can serve as an inspiration for high-end craftsmanship across Cambodia.

“Unique to Cambodia, the school brings world-class facilities that rival those found in ateliers or facilities in Switzerland” said Sack-Man Loui, Executive Principal of Prince Horology. “As instructors, we want to do our part to further elevate a culture of artisanal craftsmanship, and have spared no expense to ensure our Cambodian students get the very best.”

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25th March, 2022 | 2022, ESG
Prince Foundation Sponsors Inaugural Cambodia Inspiration Journalism Award

14 of Cambodia’s top journalists felicitated at event held at Ministry of Information

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23rd March, 2022 | 2022, ESG
Prince Foundation Releases 2021 Annual Report

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, 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

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20th March, 2022 | 2022, Business
Prince Bank supports National Bank of Cambodia in 42nd anniversary of the Re-introduction of the Riel

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. 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.

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18th March, 2022 | 2022, Business
Prince Group Joins IBC Cambodia

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 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.”

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10th March, 2022 | 2022, ESG
Prince Foundation & Cambodia Investment Review Jointly Rollout Young Business Journalist Program

Prince Foundation, 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

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14th February, 2022 | 2022, Business
AIA Cambodia and Prince Bank’s bancassurance partnership to offer customers more convenience and an enhanced financial experience

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.

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26th January, 2022 | 2022, ESG
United Nations Industrial Development Organization (UNIDO) Cambodia Observed a Typical Swiss Watchmaking Class in Prince Horology

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.

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13th January, 2022 | 2022, ESG
TIMECITY Watch Chain CEO Kouch Navy Tours Phnom Penh’s First and Only Swiss Watchmaking School

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, through its charitable arm Prince Foundation, has been supporting Prince Horology since its inception.

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12th January, 2022 | 2022, ESG
Caring for Cambodia Warmly Received in Visit to Prince Holding Group Headquarters

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

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11th January, 2022 | 2022, ESG
Prince Group and Plan International Jointly Aid Over 39,000 Students’ Safe Return to 99 Schools in Sihanoukville

Initiate Handover of 198 Pedal-Operated Handwashing Stations & 990 Infrared Thermometers at School Reopening Ceremony Presided by Minister of Environment Say Samal and Preah Sihanouk Governor Kuoch Chamroeun

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6th January, 2022 | 2022, ESG
Prince Group Partners Plan International to Support Safe Reopening of Sihanoukville Schools with Pedal-Operated Handwashing Stations

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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24th December, 2021 | 2021, ESG
Cambodia’s First-ever Batch of Future Watchmakers Graduated to Second Year of Study at Prince Horology

In an extraordinarily challenging year for Cambodia’s educators and students alike, Prince Horology, Phnom Penh’s first ever Swiss watchmaking school, is proud to announce that the debut group of six Cambodian students have moved onto the second year of their programme. All six students are currently on a full scholarship supported by Prince Foundation that includes a stipend and allowance for accommodation.

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10th December, 2021 | 2021, ESG
Announcement on Prince Holding Group’s acceptance as EuroCham Cambodia member

We are pleased to announce that Prince Holding Group, one of the largest and fastest growing conglomerates in Cambodia, is now part of EuroCham Cambodia as an Associate Corporate Member. We look forward to engaging with EuroCham to work together and build a better future for Cambodia!

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1st December, 2021 | 2021, ESG
Prince Group Chairman Chen Zhi donates US$2M more to Laos’ anti-COVID efforts

Neak Oknha Chen Zhi, Chairman of Prince Holding Group, one of Cambodia’s largest and fastest growing conglomerates, has donated US$2 million to assist the government of Laos in its efforts to combat the COVID-19 pandemic. Earlier in September, Chen Zhi had also contributed $1 million. Both donations heeded the call of Prime Minister Hun Sen to strengthen bilateral COVID-19 cooperation between the two neighboring countries.

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17th November, 2021 | 2021, ESG
Prince Group Wins “Best Country Awards for Overall CSR Excellence, Best in Cambodia” at The Global CSR Awards 2021

Prince Holding Group (“Prince Group”), one of Cambodia’s largest and fastest growing conglomerates, has been recognized as the Gold Winner of “Best Country Awards for Overall CSR Excellence, Best in Cambodia” at The Global CSR Awards 2021, now in its 13th year. Prince Group was selected among some of the best companies from Asia, United Arab Emirates and Europe. 

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2nd November, 2021 | 2021, ESG
Prince Group Employee Wins 1st Place in Cambodia’s ASEAN Chairmanship 2022 Logo Design Competition

Winning entry is the official logo of Cambodia’s ASEAN Chairmanship

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30th September, 2021 | 2021, ESG
Prince Group Chairman Neak Oknha Chen Zhi donates $1M donation to help Laos fight the pandemic

Neak Oknha Chen Zhi, Chairman of Prince Holding Group, one of Cambodia’s largest and fastest growing conglomerates, has donated US$1 million to the Laos government in response to the Cambodia authorities’ call to strengthen cooperation with Laos in fighting the pandemic.

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17th September, 2021 | 2021, ESG
Prince Group Joins Asia’s Responsible Enterprise Club

NGO Enterprise Asia picks Prince Group in Cambodia for Social Empowerment award; Organizer receives more than 500 entries

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8th September, 2021 | 2021, ESG
Chen Zhi Scholarship Jointly Launched by Prince Group and Ministry of Education Youth and Sport to Prepare Cambodian University Students For Post-Pandemic Future

Full tuition fees and stipends for 400 university students to advance sustainable development, financial inclusion and world-class hospitality; Awardees to get internship and employment opportunities at Prince Group

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31st August, 2021 | 2021, ESG
Prince Foundation Celebrates Sixth Anniversary with Rebranding & Strategic Review

Charity arm of Prince Group aims to be more strategic and investment-oriented in approach

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20th August, 2021 | 2021, ESG
Prince Group Chairman Neak Oknha Chen Zhi Wins Entrepreneur of the Year – Conglomerates at 2021 International Business Awards

2021 IBA received more than 3,800 entries from organizations in 63 nations as leaders of conglomerates tasked with need to tackle diverse social problems

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12th August, 2021 | 2021, ESG
Prince Group Partners with Caring for Cambodia, Sponsors Career Prep Program

Prince Charitable Foundation will work with leading education-focused charity to enhance academic and career prospects of 7,000 students in new post-pandemic normal

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5th July, 2021 | 2021, ESG
Ream City project set to transform Sihanoukville: Canopy Sands

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.

Developed by Canopy Sands Development, a member of a Cambodian conglomerate Prince Holding Group, the 834-ha project is envisioned to be another iconic landmark in the country featuring family attractions, condominiums, landed and beachfront homes and affordable housing estates, shopping malls, business hubs, beach resorts, hotels, condotels, yacht and marina club.

The completion of the masterplan – which was undertaken by Singapore-based Surbana Jurong Group – is a major step in turning the vision of Ream City into reality.

“We are currently preparing for downstream developments, including utilities and road infrastructure as well as secondary developments. This will require sourcing the right consultants to assist us in conceptualising and designing what will be an iconic development. We will make announcements at a later stage,” said Khong Weng Fook, managing director of Canopy Sands Development.

Ream City is planned to be built in three phases over a period of more than 20 years, according to Mr Khong.

Phase 1 – or the start-up phase ­­– consisting of a 50-ha project is envisaged to be completed in 2025. “It will comprise the main components of our Integrated Resort complex, including MICE facilities and hotels. Residential developments are also planned to cater to the expected demand.”

Phase 2 is a 357-ha project slated for completion in 2035, while Phase 3 covering 427 ha is scheduled to be finished in 2045.

Sustainable development that ‘benefits local community’

Mr Khong further explained that Ream City will take into account the principles of sustainable design, such as environmental protection and resource recycling. “For example, there will be areas set up to capture rainwater among other green infrastructure efforts, ecological restoration and urban infill, and a transit-oriented development (TOD).

“This approach will lead to the creation of sustainable, healthy and economically vibrant neighbourhoods in order to deliver a high quality of life to residents and benefit the environment, the economy and the local community.”
“In our pre-qualification process for design consultants, we’ve placed an emphasis on their experience on designing green initiatives amongst other design-related aspects,” said Mr Khong.

“Building orientation would take into consideration not only views offered by the sea and golf course but the sun as well. The most appropriate material for the developments would then be proposed for eventual use during construction.”

Mr Khong added that amenities would be built within “comfortable walking or cycling distances for each phase of development. To encourage residents to adopt non-motorised forms of transport, appropriately designed tracks or footpaths are planned. The usage and promotion of environment-friendly vehicles will also be considered.”

In the long term, the development of Ream City is expected to benefit the local community a great deal. “Our organisation’s mission is to develop sustainable and enduring real estate projects that effectively and holistically serve the needs of local communities. Sihanoukville is one of the best examples where we can abide by our mission,” said Mr Khong.

“Apart from the infrastructure improvements, as one of the most important gateways into Cambodia, lined with pristine beaches and the heritage of Sihanoukville, Ream City has the potential to be a major tourist attraction not just for locals but also regional visitors or new residents from overseas.

“The ripple effect on the community will be positive. As an illustration, more training centres could be established for the hospitality sector – especially given the close distance to the airport – providing the community with good jobs and opportunities.”

Strengthening Cambodia and ASEAN

In recent years, Cambodia has become an attractive market in the ASEAN region for business investments. The Regional Comprehensive Economic Partnership (RCEP) – a free trade agreement signed between Asia Pacific countries in 2020 – would make Cambodia even more accessible.

“Generally, RCEP – which accounts for a third of the world’s population – seeks to encourage cross border collaboration, boosting foreign investments into ASEAN’s emerging economies, strengthening ASEAN’s regional trade flow and fostering stronger trade relations within ASEAN,” explained Mr Khong.

“Manufacturers in the mature ASEAN countries are identifying means to minimise production and manufacturing costs by outsourcing finishing work to the emerging economies within the ASEAN region. We are hoping to see an expansion of foreign direct investment and foreign participation in new and existing industries in Cambodia, benefitting the country’s overall economic development and growth, thereby increasing the local population’s disposable income.”

Mr Khong pointed out that supporting functions for such new and existing industries will also bring about a need for both new and upgraded infrastructure in the country, plus real estate like special economic zones, warehousing, logistics facilities and housing, to name a few.

“As one of the largest and fastest growing conglomerates in Cambodia focusing on three core areas, namely real estate development, financial services and consumer services, Prince Group believes that Cambodia will need to rely on the right local players who aim to be a force for good for Cambodian development.”

He shared that Canopy Sands Development is currently exploring a number of development projects in other parts of Cambodia. “We will make suitable announcements at the right juncture.”

When asked about the company’s plans on expanding into neighbouring countries, Mr Khong said, “Rising foreign direct investments, free trade agreements with leading economic blocs, and future participation in the RCEP are expected to act as key drivers for neighbouring countries such as Thailand, Vietnam and Laos, supported by pro-industry policy initiatives.

“While various challenges need to be addressed, Thailand, Vietnam and Laos are expected to bounce back strongly, according to the World Bank. Further, ASEAN will become the fourth-largest economic bloc in the world by 2030.

“Strong companies with diversified revenue streams across sectors will become attractive investment targets as they will act as a proxy for broader economic performance. We are dedicated towards exploring real estate opportunities and are open to any kind of expansion opportunities as long as the development plans satisfy our mission statement.”

Artist’s impressions of the project: Surbana Jurong

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14th May, 2021 | 2021, Business
Prince Group Recognized For Corporate Response To COVID-19 In 2021 Asia Pacific Stevie Awards

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

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18th March, 2021 | 2021, ESG
Chairman Chen Zhi Donates US$3M to Fight Covid-19, Leading the Way for Anti-Pandemic Initiatives Across Prince Group in Cambodia

Prince Real Estate provides daily essentials to 804 underprivileged families of Chamkarmon District affected by February 20 community outbreak

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11th March, 2021 | 2021, ESG
Chen Zhi and Prince Group Commit $3 million to Help Cambodia Combat Rising COVID-19 Caseload

On March 11, in view of the escalating situation caused by the rising number of COVID-19 cases in Cambodia, Neak Oknha Chen Zhi, chairman of Prince Holding Group, better known as Prince Group, affirms the Group’s commitment to social responsibilities, announcing plans to donate $3 million to the Cambodian government’s anti-epidemic efforts. Chen Zhi has extended his assistance during the Kingdom’s time of need and expressed strong support for Prime Minister Hun Sen’s drive to combat the ongoing epidemic.

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15th February, 2021 | 2021, ESG
Prince Holding Group Distributes Essential Goods to 500 Families Near Ream City Project

Charity arm of Cambodian conglomerate engages local community as key stakeholders for upcoming 834-ha project

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8th February, 2021 | 2021, Business
Prince Holding Group Unveils Sustainable Development Masterplan by Surbana Jurong for Ream City in Sihanoukville

Cambodian conglomerate brings world-renowned expertise from Singaporeto oversee 834-ha project, catalyzing growth in Cambodia’s 3rd largest city

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27th January, 2021 | 2021, Business
Prince Holding Group Brings International Brands to Cambodia With New Commercial Retailing Project

Prince Real Estate Group, a member of Prince Holding Group, 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.

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20th January, 2021 | 2021, ESG
Chen Zhi and Prince Holding Group Bring the Art of Swiss Watchmaking to Cambodia

The global pandemic has changed the working lives of many people across the world, including in Cambodia. Chairman Neak Oknha Chen Zhi (陈志公爵) 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.

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30th December, 2020 | 2020, ESG
Chen Zhi and Prince Group Raise Awareness for Sustainable Agriculture in Cambodia with Launch of Prince Manor Resort

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.

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8th December, 2020 | 2020, ESG
Chen Zhi and Prince Holding Group at Forefront of Cambodia Private Sector’s ESG Initiatives

(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.

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