[INNEWS Comprehensive Report] On August 22, Kith Meng, chairman of the Royal Group of the Phnom Penh Special Economic Zone (PPSP), submitted a document to the Cambodia Stock Exchange (CSX), disclosing the company’s financial data for the second quarter of 2023.
The file shows,The company achieved total revenue of 29.667 billion riel in the quarter, a 95% increase compared to 15.226 billion riel in the second quarter of 2022. This increase brought the company’s net profit to more than 2.461 billion riels, compared to a net loss of 515,681 thousand riels in the same quarter in 2022.
Royal Group Phnom Penh Special Economic Zone (PPSP), Cambodia’s leading listed special economic zone, has achieved strong growth in business operations in the second quarter of 2023 despite the many uncertainties in the regional and global economies.
In addition, as of June 30, 2023, the company’s financial position remains solid, with assets exceeding 527.456 billion riels. Among them, long-term assets are 210,139 billion riels, and short-term assets are less than 317 billion riels.
Kith Meng said the total capitalization of the company was more than 281 billion riels, a drop of 10.53 percent from nearly 255 billion riels in 2022. So the gearing ratio is 0.87 in 2023 and 0.85 in 2022. Hiroshi Uematsu, CEO of the Phnom Penh Special Economic Zone (PPSEZ) in Cambodia, referring to the above documents, said that as of June 30, 2023, the Royal Group Phnom Penh Special Economic Zone is 17 special businesses in Cambodia (out of a total of 36) Approved Special Economic Zone Company) is one of the special economic zone companies.
Royal Group Phnom Penh Special Economic Zone is the leading company among all approved special economic zones in Cambodia in terms of number of investors, total investment and number of workers, and it is also one of the leading special economic zones in Cambodia with a land area of approximately 357.32 hectares.
In addition, the company established three new subsidiaries this year, namely Royal Group Phnom Penh Special Economic Zone II Co., Ltd, Sahas Properties Co., Ltd and Gomi Recycle (Phnom Penh) Co., Ltd. Among them, Sahas Properties Co., Ltd is a leading real estate developer, while Gomi Recycle (Phnom Penh) Co., Ltd has partnered with a Japanese company to start a solid waste management business.
As of June 30, 2023, the company has acquired a total of 104 SEZ investors/lessors in countries including Japan, Singapore, Malaysia, Taiwan, Korea, Philippines, Vietnam, China, Turkey, Cambodia and Thailand. It should be emphasized that we focus on investors in light and medium-sized and labor-intensive industries in special economic zones. So far, the Royal Group Phnom Penh Special Economic Zone has attracted many investors, mainly in the field of electromechanical products for export and domestic market.