Chip Mong

Chip Mong is a Cambodian conglomerate that provides services in consumer goods, construction materials,[1] property development, beer and beverages production, cement, hotel and hospitality,[2] feed,[3] retail[4] and banking.[5]

Chip Mong Group
Native name
ក្រុមហ៊ុន ជីប ម៉ុង
GenreConglomerate
Founded1982
FounderNeak Oknhna Pheap Heak
Neak Ouknha Leang Khun
Neak Ouknha Leang Meng
Headquarters137, Mao Tse Tung Blvd., Boeng Keng Kang III, Chamkamon, Phnom Penh, Cambodia
Key people
Neak Oknha Leang Khun
Neak Oknha Leang Meng
Number of employees
5000+
SubsidiariesChip Mong Trading
Chip Mong Industries
Chip Mong Land
Khmer Beverages
Crown Production
Chip Mong Insee
Hyatt Regency Phnom Penh
Chip Mong Feed
Chip Mong Retail
Fairfield Marriot Phnom Penh
Chip Mong Bank
Grand Royal Golf and Resorts
Grand Phnom Penh City
Websitechipmong.com/en/

History

Chip Mong was established in 1982 and has grown into "one of the largest homegrown conglomerates [in Cambodia]".[6]

From the 1980s, as Cambodia recovered from the massive devastation of the Khmer civil war and the atrocities of the Khmers Rouges regime, Madam Pheap Heak started a small business to buy and sell construction scrap metal, before in 1997 setting up a company called Chip Mong to import fine steel from abroad to supply to Cambodia's construction sector.[7]

From 1990 onwards, Chip Mong began expanding its business by importing cement and consumer goods from neighboring countries.[8] Chip Mong has since become one of the leading local supplier of construction materials[9] and consumer products[10] in the country.

In 2008, the Chip Mong group launched into real estate and in 2009, in the beer and beverages by launching Khmer Breweries.[11]

In December 2010, the Chip Mong Group entered the booming construction sector in Cambodia, relying on ties with both Vietnam on one side,[12] and Thailand on the other, by signing a $200 million joint - venture agreement with Siam City Cement Plc.[13] The cement factory was inaugurated by Prime Minister Hun Sen on February 8, 2018.[14]

Chip Mong recently entered the sector of tourism and hospitality by renovating and expanding a luxury hotel in Daun Penh together with the American multinational hospitality company Hyatt in 2016, finally opening in 2020 amid the COVID-19 pandemic,[15] during which the Chip Mung group along other private investors helped the Cambodian government with major donations.[16]

In 2017, Chip Mong invested about $60 million in a plant to produce pig feed, with facilities to raise pigs for the Cambodian market,[3] in an effort to "reduce imports and increase products produced by Cambodia".[17]

In 2018, Chip Mong expanded into the financial sector with its newest venture – Chip Mong Commercial Bank Plc.[5]

Chip Mong's growth goes along with the evolution of Cambodia from the past as a primarily agricultural country to the industrialised nation.[18]

In March 2021, the three major players of the Chip Mong group were all elevated to the rank of Oknha on the same occasion by a royal decree issued by His Majesty King Norodom Sihamoni.[19]

Structure

Chip Mong is a family-owned business headed by Oknha Leang Khun and Leang Meng[20] under the leadership of Chairlady Oknha Madam Pheap Heak.[21]

Chip Mong invests into several child businesses, so-called subsidiaries:

  • Chip Mong Trading,
  • Chip Mong Industries,[18]
  • Chip Mong Land,[22]
  • Khmer Beverages reportedly employing 1,100 staff as of 2019,[23]
    • Crown Khmer Beverages Cans Limited,
  • Chip Mong Insee Cement Corporation,[24]
  • Hyatt Regency Phnom Penh,
  • Chip Mong Feed,[17]
  • Chip Mong Retail,[4]
  • Fairfield by Marriott Phnom Penh', the first Fairfield by Marriott hotel in Cambodia, in 2017[25]
  • Chip Mong Commercial Bank,[26]
  • Grand Phnom Penh City,[27]
  • Grand Royal Golf & Resorts.

References
  1. Chhut, Bunthoeun (2019-07-21). "Chip Mong aims to dominate retail industry". Khmer Times. Retrieved 2022-03-11.
  2. Vireak, Thou (2020-11-26). "Hyatt hotel in capital set for January 2021 launch". Phnom Penh Post. Retrieved 2022-03-11.
  3. Sum, Manet (2017-03-13). "Boost for pig feed industry". Khmer Times. Retrieved 2022-03-11.
  4. Redd, Dani. "Chip Mong Retail". APAC Outlook Magazine. Retrieved 2022-03-11.
  5. Kimsay, Hor (2018-08-14). "Chip Mong moves into banking sector". Phnom Penh Post. Retrieved 2022-03-11.
  6. Reuy, Rann (2020-06-14). "Chip Mong Group VP Dell talks travel sector". Phnom Penh Post. Retrieved 2022-03-11.
  7. "ក្រុមហ៊ុន ជីប ម៉ុង រៀបចំកម្មវិធីថ្លែងអំណរគុណដល់តំណាងចែកចាយដែកថែបអ៊ីតាលីម៉ាកវីទូទាំងប្រទេស និងបន្តភាពជាដៃគូជោគជ័យរួមគ្នា". Construction & Property News (in Khmer). 2019-04-30. Retrieved 2021-03-23.
  8. "Leading Cambodian conglomerate, Chip Mong, selects Symphony RetailAI's solutions to underpin its new business initiative, Chip Mong Retail". Symphony RetailAI. 2018-10-17. Retrieved 2021-04-13.
  9. tharith. "ក្រុមហ៊ុន ជីប ម៉ុង អ៊ីនដាស្ទ្រីស៍ មានរោងចក្រផលិត សម្ភារសំណង់ ស្របតាមស្តង់ដារអន្តរជាតិ ISO". FRESH NEWS PLUS. Retrieved 2021-03-23.
  10. tharith. "ប្រេងឆា Healthy Chef ជាជម្រើសសុខភាពដ៏ប្រសើរសម្រាប់ ចម្អិន ម្ហូប អាហារ នា ឱកាសចូលឆ្នាំចិន". FRESH NEWS. Retrieved 2021-03-23.
  11. "'Cambodia can' corporate philosophy drives Khmer Beverages success story". Phnom Penh Post. Retrieved 2022-03-11.
  12. Vietnam Economic News. The Ministry. 2011-12-27. p. 8.
  13. Minerals Yearbook. Bureau of Mines. 2009. p. 7.2. ISBN 978-1-4113-3173-0.
  14. Kimau, Met. "សម្តេចតេជោ ហ៊ុន សែន អញ្ជើញសម្ពោធរោងចក្រផលិតស៊ីម៉ង់ត៍ក្រុមហ៊ុនជីបម៉ុង អ៊ីនស៊ី ស៊ីមេន ខបភើរេសិន (CMIC)". គណបក្សប្រជាជនកម្ពុជា-វិមាន៧មករា (in Khmer). Retrieved 2022-03-11.
  15. Reuy, Rann. "Chip Mong Group VP Dell talks travel sector". Phnom Penh Post. Retrieved 2022-03-11.
  16. Kunthear, Mom (2021-03-11). "Donations pour in for gov't fight against Covid-19". Phnom Penh Post. Retrieved 2022-03-11.
  17. Ajansı, Newclick Dijital Reklam (2017-04-07). "Chip Mong Group builds pig feed plant in Cambodia". Feed Planet Magazine.
  18. Pisei, Hin (2018-12-10). "Chip Mong Open Roof Title Factory". The Phnom Penh Post.
  19. Lon, Zadina (2021-03-17). "គ្រួសារអ្នកជំនួញមួយនៅកម្ពុជាមានសមាជិក ៣នាក់ទទួលបានងារជា "អ្នកឧកញ៉ា" ក្នុងថ្ងៃតែមួយ". Sabay News. Retrieved 2022-03-11.
  20. Pisei, Hin. "Chip Mong acquires Grand Phnom Penh". Phnom Penh Post. Retrieved 2022-03-11.
  21. Othman, Anith Adilah (2019-12-08). "Khmer Beverages unveils new Cambodia Beer look". Khmer Times. Retrieved 2022-03-11.
  22. "Park Land 6A Residential Project officially begin sales - Khmer Times". 2021-01-23. Retrieved 2022-02-21.
  23. "'Cambodia can' corporate philosophy drives Khmer Beverages success story". The Phnom Penh Post. 2019-12-05.
  24. Khmer, Times. "Chip Mong Unit Signs $262 Deal for Cement Plant".
  25. "Fairfield by Marriott Phnom Penh to Open in Cambodia". Marriott International Newscenter (US). 2017-05-09.
  26. Kimsay, Hor (2018-09-14). "Chip Mong moves into banking sector". The Phnom Penh Post.
  27. Pisei, Hin. "Chip Mong acquires Grand Phnom Penh". The Phnom Penh Post.
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