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.
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.
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.