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

  • ‘Education’ a priority traffic-law penalty

    A top National Police official on June 21 neither rejected nor confirmed the authenticity of a leaked audio message, which has gone viral on social media, on a waiver of fines for a number of road traffic-related offences. General Him Yan, deputy National Police chief in

  • Siem Reap’s $18M zoo said to educate public, help wildlife

    Angkor Wildlife and Aquarium Co Ltd has invested $18 million in a zoo in Siem Reap province, which will be opened in October to educate and promote animal conservation as well as attract national and international tourists. Currently, the Angkor Wildlife and Aquarium is building the

  • Volunteer scheme to foster ‘virtuous’ humanitarian spirit

    A senior education official said volunteer work contributes to solidarity and promotes a virtuous humanitarian spirit among the youth and communities. Serei Chumneas, undersecretary of state at the Ministry of Education, Youth and Sport, made the comment during the opening of a training programme called “

  • Chinese firms unveil preliminary results on metro, monorail for capital

    Minister of Public Works and Transport Sun Chanthol and representatives from China Road and Bridge Corp (CRBC) and its parent company, the state-owned China Communications Construction Co Ltd (CCCC), met on June 24 for talks on results of the firms’ preliminary study on a potential metro

  • Nestle’s debut may spur dairy market

    Leading confectionery manufacturer Nestle plans to invest in Cambodia by setting up an operation in the near future, a move majorly hailed by local dairy farmers as a means of boosting the fresh milk market in the Kingdom. During a visit by a delegation led

  • ACLEDA, WU to enable global money transfers

    Cambodia's largest commercial bank by total assets ACLEDA Bank Plc and global money transfer firm Western Union (WU) have partnered to offer customers cross-border money transfers to 200 countries via “ACLEDA mobile” app. In Channy, president and group managing director of ACLEDA, said the June 22 agreement