Royal Group Phnom Penh SEZ Plc Reports $64M Total Revenue In 2023
The Royal Group Phnom Penh Special Economic Zone (PPSEZ) reported a total revenue of nearly USD $64 million in 2023, representing an increase of over 137 per cent compared to the same period in 2022.
According to a financial report filed by the PPSEZ on the Cambodia Securities Exchange (CSX) on April 10, 2024 (listed as 'PPSP'), the company reported a total revenue of 254.69 billion riel (approximately USD $63.05 million) in 2023, indicating an increase of 147.3 billion riel (approximately USD $36.46 million) from 2022.
Financial Review Summary For Royal Group SEZ In 2023
- Profit After Tax/Net Income: 32.3 billion riel (approximately USD $7.9 million) compared to 8.5 billion riel (approximately USD $2.1 million), reflecting an increase of 276.62 per cent compared to 2022.
- Total Assets: Improved to 466.9 billion riel (approximately USD $115.6 million) from 444.4 billion riel (approximately USD $110 million), representing an increase of 5.06 per cent from 2022.
- Non-Current Assets: 179.2 billion riel (approximately USD $44.3 million).
- Current Assets: 287.7 billion riel (approximately USD $71.2 million).
- Total Equity: 253.7 billion riel (approximately USD $62.8 million) from 227.2 billion riel (approximately USD $56.2 million), indicating an increase of 11.67 per cent.
Neak Oknha Kith Meng, Chairman of the Royal Group PPSEZ, stated in the report that the company's performance was commendable despite various global factors, including the Ukraine-Russia war, which persisted from the previous year and continued to cause uncertainty worldwide.
“Fortunately, the Group was not affected as it still managed to draw several new potential operators to the zone and also thanks to one of our existing investors who has decided to expand their existing operations into a much larger scale for their operations in Cambodia,” he said.
He added that the SEZ continues to improve its infrastructure, for example, by enhancing its drainage and flood control system.
“The maintenance is ongoing and we aim to improve and provide top class seamless connections to various locations for the convenience and benefit of all operations in the zone without interruptions,” said Kith Meng.
Current State Of The Royal Group Phnom Penh SEZ
According to the report, the SEZ in Phnom Penh currently hosts 92 corporations from Japan, Singapore, Malaysia, Taiwan, Korea, the Philippines, China, Vietnam, Turkey, the United States, Cambodia, and Thailand. These companies’ industries range from light to medium and labour-intensive industries, including mechanical and electrical products, garment and shoe manufacturing, food processing and agriculture, car, automobile parts and pre-produced parts assembly, as well as logistics.
According to the Council for the Development of Cambodia (CDC), the PPSEZ hosts the second-largest number of corporations in an SEZ in Cambodia, but has the highest investment capital (over USD $562.6 million). Cambodia’s largest foreign investors currently include Japan, China, Korea, Malaysia, the United Kingdom, and the United States. Out of the 36 approved SEZs, only 17 have commenced operations.
Royal Group Phnom Penh SEZ Plc. is a publicly listed company (PPSP) with a market capitalisation of USD $37 million. The company owns the Royal Group Phnom Penh Special Economic Zone (PPSEZ) and the Royal Group Poipet Special Economic Zone bordering Thailand.