A “currency association” that later halted its activities amid complaints from investors and an Interior Ministry inquiry was among seven associations registered by the ministry over a two-week period last year in book 77 of the Royal Gazette.
The Pro-Khmer’s Currency Association, registered on June 29, 2022 by an Interior Ministry prakas, promised returns on investment that attracted more than 2,600 people to join a Telegram group chat about its activities.
By late last year, the chat was rife with complaints of delayed repayments and mounting concern — joining a few dubious investment schemes that had begun to make headlines in the country.
On January, 9, 2023, the association posted a letter on its channel saying it was suspending activities by Interior Ministry order. The ministry was verifying and assessing its activities, the association letter said. It has since said nothing in the Telegram group, and messages to the group have been blocked.
The association’s registration was recorded in book 77 of the Royal Gazette for 2022, released earlier this year. It was one of the seven registrations in the book, all dating between June 14 and July 1 last year.
The other associations varied in mission from investment and business to social work and apartment ownership: the Real Estate Investor Cooperation Association, Humanitarians for Peace Association, Sky 31 Co-Ownership Association, Rural Agricultural Technology Development Association, Informal Economic Entrepreneur Association of Cambodia, Association of Small and Medium Enterprises of Sihanoukville, and Association of Small and Medium Enterprises of Prey Veng.
The Pro-Khmer’s Currency Association was registered with offices in Phnom Penh’s Sen Sok district.
The rest of the Royal Gazette volume contained eight new Cambodian citizens (two Turkish, five Chinese and one Korean), more than 200 soldiers promoted or transferred, new appointments to the National Digital Economic and Social Council, and more.
See Gazetteer to search through indexed Royal Gazette volumes.
