Chen Zhi Prince Holding Group

Prince Real Estate offers everyday necessities to 804 underprivileged Chamkarmon District families impacted by the February 20 community outbreak.

[Phnom Penh, March 18, 2021] – Prince Holding Group (“Prince Group”), one of Cambodia's largest and fastest expanding conglomerates, and Chairman Neak Oknha Chen Zhi have announced plans to donate US$3 million to anti-pandemic efforts in the Kingdom in response to the Cambodian Government's call for assistance in combating the February 20, 2021 Covid-19 outbreak. This follows Chen Zhi's initial US$3 million donation in December to assist Cambodia in purchasing COVID-19 vaccines.

Furthermore, Prince Real Estate, a member of Prince Group, has distributed essential food supplies to 804 families in need and 234 members of the police force in Chamkarmon District, Phnom Penh, Cambodia affected by the February 20, 2021 Covid-19 outbreak, following in the footsteps of Prince Group and Chen Zhi.

While the Cambodian government has provided unparalleled assistance, accounting for 5% of GDP to date and totaling $1.16 billion, Prince Group recognises that private companies must also play an important role in the post-pandemic recovery.

The new donation is part of Prince Group's overall climate, social, and governance (ESG) strategy for member companies. Chen Zhi's $3 million donation would help the Cambodian government achieve its goal of vaccinating at least 80% of the population, or nearly 13 million people, as part of this policy, reaffirming the Group's commitment to social responsibility in Cambodia.

Furthermore, Prince Real Estate has donated a total of 16,080 kilogrammes of rice, 804 boxes of noodles, 804 cartons of fish sauce, and 804 cartons of soy sauce to households, as well as 500 cartons of purified water and 200 cartons of soft drinks for 234 police officers working tirelessly across 33 locations in Chamkarmon District, an area that has been severely impacted by a Covi outbreak.

“As a Group working to better the lives of Cambodians, it is our civic responsibility to collaborate with District Governor Theng So Thol and the Chamkarmon District Government. Many people in the district have been impacted by the community outbreak, and we agree that timely and decisive action would make a significant difference in ensuring a robust recovery for communities,” said Mr. Steven Wang, Chief Executive Officer of Prince Real Estate.

This is only one of many initiatives that Prince Group has organised in an efficient and timely manner over the last two years.

Last month, the Prince Charitable Foundation, the charitable arm of Prince Group, distributed care packages to 500 families living in Ong village in Cambodia's Prey Nob district, near the site of the Ream City project, a US$16 billion, 843-hectare development on reclaimed land near the Sihanoukville International Airport. The Ream City project is expected to change the area, but Prince Group is keeping local communities in mind, holding meetings with local leaders to better understand their communities' future needs.

Prince Group will continue to assist Cambodians by providing vital materials to those in need, implementing key community projects, and collaborating with socially conscious partners throughout the Kingdom in order to empower local communities.