Founding and Early History
Chip Mong Corporation (often referred to as Chip Mong Group) was established in 1982 in Cambodia. It began as a family business founded by Madam Pheap Heak, who started with a small scrap-metal trading venture in post-war Phnom Penh . By 1990, the company expanded into importing construction materials (such as steel and cement) and consumer goods from neighboring countries to supply Cambodia’s rebuilding economy. In 1997, the informal family enterprise was formally organized under the name Chip Mong, focusing on importing quality steel for the local construction sector. Through the 1990s and early 2000s, Chip Mong grew to become a leading local supplier of construction materials and consumer products in Cambodia.
Diversification and Major Milestones
From the late 2000s onward, Chip Mong pursued an aggressive diversification strategy. In 2007, it formalized its construction-materials production arm (Chip Mong Industries). The next year, 2008, marked Chip Mong’s entry into real estate development with the founding of Chip Mong Land. In 2009, the group ventured into the beverage industry by launching Khmer Brewery (now Khmer Beverages), building one of Cambodia’s most advanced breweries . A pivotal joint venture was signed in December 2010 with Thailand’s Siam City Cement to establish Chip Mong Insee Cement Corporation, a US$200 million project to build a modern cement plant in Kampot province. This cement facility, with a capacity of 5,000 tons per day, began operations by late 2017 and was inaugurated in February 2018. In 2016, Chip Mong entered the hospitality sector by partnering with Hyatt to renovate and expand a luxury hotel in Phnom Penh – a project that would open as the Hyatt Regency in 2021. The conglomerate also invested in agriculture: in 2017 it opened a $60 million animal feed plant and commercial pig farm to boost local production of pork and animal feed . In 2018, Chip Mong launched its own commercial bank, expanding into the financial services sector . By the end of the 2010s, Chip Mong had transformed into one of Cambodia’s largest homegrown conglomerates, mirroring the country’s evolution from a post-conflict, agrarian economy to a more industrialized and consumer-driven market . Notably, in March 2021, the company’s principal leaders were all awarded the honorific title of Oknha by King Norodom Sihamoni in recognition of their contributions .
Leadership and Ownership
Chip Mong remains a family-owned conglomerate led by its founding family. Madam Pheap Heak, the founder, serves as Chairlady of the group. Her husband Mr. Leang Khun (a co-founder) is Chairman, and their son Mr. Leang Meng (also a co-founder) is the Group President. Under this family leadership, the corporation emphasizes long-term strategic growth and local entrepreneurship. All three were co-elevated to the rank of Oknha in 2021 as a mark of distinction . The leadership has guided Chip Mong’s expansion through joint ventures and partnerships while keeping the company 100% Cambodian-owned in key ventures like its brewery and bank.
Business Divisions and Subsidiaries
Chip Mong Corporation has a diverse portfolio spanning construction materials, consumer goods, property development, beverages, retail, hospitality, finance, and agribusiness. The major business units, brands, and subsidiaries across these sectors are organized below:
Construction Materials and Industrial Manufacturing
Chip Mong’s origins are in construction supplies and this remains a core sector. Key entities and products in this area include:
- Chip Mong Industries – A leading producer of construction materials, especially ready-mixed concrete and other building components. Its products include ready-mix concrete, Chip Mong Concrete Roof Tiles, and Chip Mong Pipes for water and sewage systems. These products support Cambodia’s booming construction and infrastructure development.
- Chip Mong Insee Cement Corporation – A joint venture with Siam City Cement (Thailand) established in 2015. It operates a state-of-the-art cement plant in Touk Meas, Kampot, with production capacity of 5,000 tons per day. The company produces advanced cement under brand names like Camel Cement (for the retail market) and Insee Diamond (for industrial clients). This venture has significantly reduced Cambodia’s reliance on imported cement and was a greenfield investment inaugurated in 2018.
- Chip Mong Trading – The distribution arm that handles import and wholesale of construction inputs and hardware nationwide. Chip Mong Trading built its reputation by supplying high-quality steel (such as the V-Steel brand) and cement to local dealers. This unit was critical in Chip Mong’s early growth and continues to ensure a steady supply of materials for Cambodia’s construction sector. (Chip Mong Trading’s role in consumer goods distribution is discussed under Retail below.)
Consumer Goods and Retail
Chip Mong has expanded into retail and consumer products, operating everything from supermarkets to shopping malls:
- Chip Mong Trading (Consumer Products) – In addition to building materials, Chip Mong Trading is a major distributor of fast-moving consumer goods across Cambodia. It represents well-known brands and products in the local market, including Hanami prawn crackers (snack foods), Healthy Chef cooking oil, and Ora laundry detergent. By leveraging its nationwide logistics, Chip Mong Trading supplies retail outlets in all 25 provinces with popular consumer products.
- Chip Mong Retail – This division, launched in 2017, encompasses the group’s retail outlets and commercial properties. Chip Mong Retail’s portfolio includes large-format shopping malls, standalone supermarkets, smaller express marts (convenience stores), as well as food & beverage outlets and family entertainment centers. For example, Chip Mong invested in developing modern shopping centers in Phnom Penh (such as the Chip Mong Mega Mall) and operates Chip Mong Supermarket stores that offer a wide range of household products. These retail ventures target both local and international shoppers, contributing to the modernization of Cambodia’s retail landscape.
Beer and Beverages
Chip Mong, through its subsidiary Khmer Beverages, is a leading player in Cambodia’s beverage industry:
- Khmer Beverages – Established in 2009, Khmer Beverages (originally Khmer Brewery) produces both alcoholic and non-alcoholic drinks and is 100% locally owned. Its flagship product is Cambodia Beer, a pale lager introduced in 2010 that quickly became “the nation’s favourite brew”. Khmer Beverages has since broadened its lineup to include other brands: Kudo Lager Beer (another beer brand in its portfolio), Wurkz energy drinks, IZE carbonated soft drinks, and Cambodia Water (bottled drinking water). The brewery’s rapid success and $120 million expansion in 2017 solidified its position as the country’s market leader in beer, despite strong competition from international brewers. Khmer Beverages’ modern facility on Phnom Penh’s outskirts has an annual capacity in the millions of hectoliters, allowing it to meet domestic demand and diversify into soda and energy beverages.
- Crown Khmer Beverage Cans Ltd. – A joint venture between Chip Mong and CROWN Holdings (a global packaging leader) to produce aluminum cans locally. This factory supplies cans for Cambodia Beer and other beverage lines, ensuring a reliable packaging supply chain. The partnership with Crown (launched in 2014) brought international manufacturing expertise to Cambodia and supports the growing production at Khmer Beverages.
Property Development and Real Estate
Chip Mong’s real estate arm, Chip Mong Land, is a prominent property developer in Cambodia:
- Chip Mong Land – Founded in 2008, this subsidiary focuses on residential and commercial real estate development. Chip Mong Land caters to various market segments through three categories of housing projects: the Landmark series (modern high-end residential communities, as well as commercial and office buildings), Parkland homes (upscale houses for contemporary living), and Land Riche projects (more standard housing aimed at mid-range buyers). By 2019, Chip Mong Land had developed at least 7 major housing projects in Phnom Penh, including Park Land Sen Sok, Park Land TK (Toul Kork) and Landmark 60M (a development along 60-meter road) . These projects are known for their modern amenities and master-planned community designs, targeting Cambodia’s growing middle and upper classes .
- Grand Phnom Penh City – In late 2019, Chip Mong acquired the entire Grand Phnom Penh International City project, a massive 260-hectare satellite city in the northwest of Phnom Penh . Originally a joint venture between Indonesian and Cambodian investors, Grand Phnom Penh City is being built out under Chip Mong’s ownership. Once completed, it will feature over 4,400 residences (villas, houses, and apartments), along with schools, hospitals, office buildings, shopping centers, and parks . A highlight of this development is a world-class 18-hole golf course designed by Nicklaus Design, which forms part of the Grand Royal Golf & Resorts complex on the property . Through such projects, Chip Mong Land has become a key player in shaping Phnom Penh’s suburban expansion and real estate market.
Hospitality and Hotels
Chip Mong has ventured into hospitality with international partnerships and local leisure facilities:
- Hyatt Regency Phnom Penh – A five-star hotel in central Phnom Penh that opened in 2021. Chip Mong partnered with Hyatt to renovate and develop this 250-room luxury hotel, which features multiple restaurants, a rooftop swimming pool and sky bar, and high-end event facilities. This project (initiated in 2016) marked Chip Mong’s first foray into hospitality and introduced the Hyatt brand into the Cambodian market, even as the opening coincided with the challenges of the COVID-19 pandemic. The Hyatt Regency Phnom Penh is positioned to serve business travelers and tourists with an upscale Cambodian hospitality experience.
- Fairfield by Marriott Phnom Penh – A new city hotel developed by Chip Mong and opened in March 2023 as Marriott’s first Fairfield property in Cambodia. Housed within the 45-story Chip Mong Tower on Russian Federation Blvd, this hotel offers 300 contemporary rooms and amenities like an all-day dining restaurant, rooftop bar, fitness center, and an infinity pool overlooking the skyline. The Chip Mong Tower complex also contains a five-story shopping mall, cinema, and Grade A offices, making it a mixed-use landmark in Phnom Penh. The Fairfield is a mid-range (3~4 star) hotel aimed at business and leisure travelers, and represents Chip Mong’s second major collaboration with a global hotel chain.
- Grand Royal Golf & Resorts – This refers to Chip Mong’s recreational resort component, notably the Grand Phnom Penh Golf Club and associated facilities in Grand Phnom Penh City. The championship golf course, designed by Nicklaus, and its country club are part of Chip Mong’s hospitality/leisure offerings catering to affluent locals and expatriates . Acquired in 2020 (as part of the Grand Phnom Penh project), the golf resort complements the group’s hotels by providing a high-end leisure destination in Phnom Penh. It underscores Chip Mong’s strategy of developing integrated communities with lifestyle amenities.
Banking and Financial Services
In 2018, Chip Mong expanded into banking to diversify its portfolio:
- Chip Mong Commercial Bank – A full-service commercial bank focusing on digital-forward services and retail banking. Launched in late 2018, Chip Mong Bank offers products such as mobile banking, consumer and SME loans, deposits, and agent banking across Cambodia. As of 2023, the bank had 11 branches in key locations including Phnom Penh, Siem Reap, Battambang, and Kampong Cham. By leveraging Chip Mong’s strong local brand, the bank has rapidly grown its asset base and customer network, aiming to provide inclusive financial services to Cambodia’s emerging middle class and entrepreneurs. Chip Mong Bank is one of the few locally-owned banks in the country and reflects the conglomerate’s commitment to long-term investment in the national economy.
Agriculture and Animal Feed
To contribute to the agribusiness sector and reduce import dependency, Chip Mong operates a feed production and farming unit:
- Chip Mong Feed – Established in 2017, this unit produces animal feed and operates a large-scale swine farm . The feed mill has a planned capacity of 200,000 tons per year, supplying nutritionally-formulated feed for pigs, poultry, and other livestock. A significant portion (about 70%) of the feed output is used in Chip Mong’s own pig farm operations, which are capable of raising 300,000 pigs annually for the domestic market. This farm-and-feed initiative was a strategic move to support Cambodia’s food supply chain by locally raising pork (a staple protein) and reducing reliance on imports . It exemplifies Chip Mong’s broader goal of vertical integration – producing raw materials and finished products within Cambodia for Cambodian consumers.
Conclusion and Strategic Developments
Over four decades, Chip Mong Corporation has grown from a small family business into a multi-sector powerhouse, with each division reinforcing the others. The conglomerate’s history is marked by strategic partnerships (such as joint ventures in cement, beverages, and packaging) and a forward-looking expansion into new industries at opportune times. Chip Mong’s diverse portfolio – spanning construction, breweries, retail centers, real estate projects, hotels, banking, and agriculture – positions it as one of Cambodia’s most influential conglomerates. In recent years, Chip Mong has also pursued strategic collaborations with other major players; for instance, in April 2025 it signed a partnership MOU with the Royal Group (another leading Cambodian conglomerate) to explore co-investments and synergistic growth opportunities. Guided by the founding family and fueled by Cambodia’s economic development, Chip Mong Corporation continues to expand its footprint while maintaining a strong commitment to quality and local community development.
Sources: Chip Mong Group corporate profile and EuroCham Cambodia listing; Cambodia business news reports ; official press releases and partner publications.