Asian ESG

  On March 11, in light of the deteriorating situation in Cambodia as a result of the increasing number of COVID-19 cases, Neak Oknha Chen Zhi, or Cambodia Chenzhi , chairman of Prince Holding Group, or Prince Group, reaffirmed the Group's commitment to social responsibility by announcing plans to donate $3 million to the Cambodian government's anti-epidemic efforts. Cambodia Chenzhi has offered his help to the Kingdom in its time of need and has expressed strong support for Prime Minister Hun Sen's efforts to tackle the continuing epidemic. Prince Group is one of Cambodia's greatest corporate conglomerates, having operations in real estate development, banking, finance, aviation, tourism, logistics, technology, food and beverage, and lifestyle. Cambodia has recorded 1,163 coronavirus cases as of 7 a.m. on March 11. While more than half of the patients have been cured, the Kingdom has recently seen a surge in cases owing to what has been dubbed the "February 20 inc...

  Globally, the COVID-19 pandemic has rewritten the fundamental assumptions that underpin numerous industries. Environmental conservation is now a critical component of Cambodia's agricultural recovery efforts, and Neak Oknha Chen Zhi ( Cambodia Chenzhi ) and the Prince Group are leading the charge. Agriculture is a vital part of Cambodia's economy, employing more than a third of the workforce, and the current crisis presents an opportunity for the sector to "build back better," according to the CGIAR, the world's largest agricultural research network. Developing countries such as Cambodia rely on agricultural exports and must abandon traditional farming practises that rely on fertilisers, pesticides, water-intensive processes, and legacy farming methods that contribute to deforestation and soil erosion. Chen Zhi and Prince Group launched the Ecological Agriculture Plantation at Prince Manor Resort in Phnom Penh, Cambodia, earlier this year. The project will estab...

  Prince Real Estate Group, a subsidiary of Prince Holding Group, a leading Cambodian conglomerate under Chen Zhi Prince Group , has successfully completed the investment agreement ceremony for Prince Square. The project is the real estate developer's first commercial retail project in Phnom Penh, Cambodia, and it will bring a slew of well-known brand names to the city, including Adidas, Levi's, Skechers, Nike by Supergo, Huawei, OPPO, Potato Corner, Dakasi, Panda Cake, and Pizza Hut. Phnom Penh, as a metropolitan area, is steadily integrating into the global economy. According to the Globalization and World Cities Research Network, Phnom Penh will be classified as a Gamma+ city (cities that connect smaller economic regions into the global economy) in 2020, having risen in the rankings over the previous two years. With a total retail floor area of 35,000 square metres. Prince Square will be a four-story structure that will include a large supermarket, an international cinema, a...

  The relevance of environmental, social, and governance (ESG) practises at enterprises around the world has been highlighted during COVID-19. However, even before the pandemic, there was talk of reform. Last year, the Business Roundtable (a group comprising 181 CEOs of America's major corporations) stated that companies must "support the communities in which they operate," reversing American economist Milton Friedman's long-held belief in wealth maximisation for shareholders. Times have changed in 2020. This year, Prince Holding Group (“PHG”), one of Cambodia's major conglomerates, realised this and paved the way for other enterprises in the country to follow ESG principles. Since April, the Group has given a number of major gifts to aid in the fight against the pandemic and flood victims, and Neak Oknha Chen Zhi , PHG chairman, has been the driving force behind the donations. For example, in early December, Chen Zhi and PHG donated US$3,000,000 to Prime Minister...