Logo of Phnom Penh Post newspaper Phnom Penh Post - Royal Group and PTT Cambodia sign MoU to expand businesses in the Kingdom

Royal Group and PTT Cambodia sign MoU to expand businesses in the Kingdom

Content image - Phnom Penh Post
Neak Oknha Kith Meng (left) and Songpon Thepnumsommanus.

Royal Group and PTT Cambodia sign MoU to expand businesses in the Kingdom

Royal Group – Cambodia’s leading investment and development conglomerate – has signed a memorandum of understanding (MoU) with international oil and retail company PTT (Cambodia) Limited (PTTCL) in a move that will strengthen its business operations throughout the Kingdom.

Royal Group chairman and CEO Neak Oknha Kith Meng and PTTCL managing director Songpon Thepnumsommanus signed the agreement on Thursday at a ceremony held at a leading hotel in Phnom Penh.

Senior management from both companies and other business leaders witnessed the signing.

As part of the MoU, Royal Group and PTTCL will explore opportunities to jointly develop payment solutions and financial services, as well as sales and marketing, across all of PTTCL’s operations nationwide.

Content image - Phnom Penh Post
The MoU will help both companies expand operations.

Neak Oknha Kith Meng said he welcomed the signing of the MoU and the close business relationship that will follow.

“This ceremony is a strategic milestone for both parties and marks an important step towards greater business collaboration,” he said.

Songpon said PTTCL looked forward to working with Royal Group.

“We are delighted to be signing this MoU with Royal Group and are excited to be working with them, and their wealth of expertise will help further grow our presence in the country. This also shows PTTCL’s commitment towards helping Cambodia develop and advance into the digital age,” he said.

Content image - Phnom Penh Post
Management from Royal Group and PTT Cambodia pose for a group photo before the signing ceremony on Thursday.

Royal Group is an investment and development conglomerate with a diverse portfolio including more than 30 companies spanning banking and finance, power and energy, hospitality, media, telecommunications and property development.

PTTCL is a Thailand-based petroleum company that supplies, distributes and markets petroleum and related products.

In addition to its petroleum business, PTTCL also owns Cafe Amazon, Jiffy Mart, Pearly Tea and Fit Auto.

MOST VIEWED

  • With herd immunity likely in 2022, is Cambodia ready to reopen for tourism?

    The government aims to inoculate 80 per cent of the target population by June next year, giving it a head start among regional peers to reboot the sector but first, it has to do a few things to up its game A sign on a glass

  • Quarantine still a must for all arrivals, in next Covid chapter

    Since early May, an average of five to 10 Cambodian people have died from Covid-19 a day with many others testing positive amid the ongoing community outbreak. At the same time, however, hundreds of patients also recovered a day. The first Covid-19 case in Cambodia was

  • US wants 'full access' to Ream Naval Base

    On June 11, the US embassy's Defense Attaché Colonel Marcus M Ferrara visited Ream Nava Base in coordination with Cambodian officials following the recent approval of Prime minister Hun Sen to allay the concerns on Chinese military presence at the base as raised by US Deputy

  • First commercial gold mine online

    Australian miner Renaissance Minerals (Cambodia) Ltd on June 21 began the commercial operation of its $120 million Okvau Gold Project in the northeastern province of Mondulkiri, becoming the Kingdom’s first gold producer. Located in the Okvau area in southwestern Mondulkiri province’s Keo Seima district, the

  • Jab drive heading to 5 provinces

    The government is set to vaccinate more than 1.2 million people in five provinces after finishing with Phnom Penh and neighbouring Kandal in an ongoing campaign administered by the ministries of Health and National Defence. The five provinces are Preah Sihanouk, Kampong Speu, Takeo, Kampong Cham

  • New immigration bill targets illegal foreigners in Kingdom

    General Department of Immigration (GDI) officials are discussing revisions to the new draft law on immigration to prevent foreigners from entering Cambodia illegally and to supervise those living in the Kingdom more effectively. The revisions draw wide support among civil society organisations. GDI director-general Kirth