People Are at the Heart of Everything We Do
- Andrew Millar
- Jun 13
- 5 min read
Updated: Jun 25
TOP 50 INTERVIEW: Teong Hoon Ong
March 2025
As Cambodia's financial sector continues to evolve, Phillip Capital Cambodia is positioning itself as a key player in the industry, leveraging its regional expertise and strong Singaporean roots. In this interview, we speak to Teong Hoon Ong, Director at Phillip Bank, about the leadership values, market challenges and regional investment trends that shape Phillip Capital's approach to innovation and sustainable growth.
Leadership Values & Guiding Principles
CLR: Mr Ong, as a leader at Phillip Capital Cambodia, what core values and strategic priorities guide your leadership? How have these principles shaped the firm's approach to investment, innovation and expanding its regional footprint?
"At Phillip Capital, our leadership is deeply rooted in a core belief. People are at the heart of everything we do - our employees, our customers and the communities we serve.
One of our guiding principles is that we believe each person is unique, with distinct gifts and talents. Therefore, each individual has the responsibility to develop their full potential, and Phillip Capital is committed to providing opportunities for growth through training, service and responsibility.
This philosophy not only shapes how we lead our teams but also influences the way we build and grow our business.
Our vision, to 'delight customers, grow people and benefit communities', drives every decision we make. This is reflected in our strategic approach across our business units in Cambodia. For example, through Phillip Trustee, we enable foreign investors to securely own land and property under a trusted framework.
At the same time we leverage our group's strengths from Singapore to offer estate planning and wealth management services tailored to high-net-worth clients.
Beyond financial services, we are committed to making a meaningful impact on local communities. Our NGO, Koampia Phum Yoeung (KPY), provides financial literacy and family development education to vulnerable groups in Cambodia.
With an established presence in 15 countries, our goal is to continuously expand our ecosystem of holistic financial solutions. By harnessing our regional expertise and customer-centric approach, we remain committed to delivering value to our clients while making a positive impact on the communities we operate in.
Challenges & Opportunities in Finance
CLR: With financial markets evolving rapidly, what are the key challenges and opportunities for investment firms in 2025? How does Phillip Capital Cambodia navigate shifts in global finance, digital transformation and regulatory developments to maintain its leadership and offer value to clients?
The investment landscape in Cambodia presents significant opportunities, particularly in education, healthcare, renewable energy, agriculture and emerging manufacturing sectors. The e-commerce ecosystem and its supporting industries also show strong potential for growth.
As Cambodia continues its economic development, early-stage investments in these sectors can yield high returns.
However, challenges persist. Identifying the right local partners and establishing mutually beneficial relationships is often a complex process. While formulating strategies is straightforward, execution - where strategy meets real-world conditions - can be more difficult.
Talent acquisition remains another challenge, as highly qualified professionals are not always in abundance and recruitment costs can be high. On the regulatory side, navigating Cambodia's bureaucracy and legal framework can pose hurdles for investors unfamiliar with the system.
At Phillip Capital Cambodia, we benefit from the strength of our global network, particularly our Singapore headquarters, which provides critical expertise in trustee services and wealth management, areas that are still developing in Cambodia but hold strong growth potential.
Unlike many firms, we leverage the depth of our group's knowledge and resources to provide a competitive edge.
We are also committed to digital transformation. Phillip Capital has a strong track record in financial technology, having pioneered online trading in Singapore early on. Our fintech-driven approach is further reinforced by appointing an IT entrepreneur as an independent director, ensuring that digital innovation remains at the core of our strategy.
Additionally, our governance is strengthened by having a retired senior financial regulator from Singapore on our board, keeping us aligned with evolving regulatory frameworks both locally and internationally.
By combining regional expertise, digital innovation and a strong regulatory foundation, Phillip Capital Cambodia continues to navigate shifting market dynamics while delivering value to our clients and maintaining leadership in the financial sector.
Singapore-Cambodia Investment & Business Ties
CLR: Singaporean investment continues to play a significant role in regional growth. How do you see business and investment relationships between Singapore and Cambodia evolving? What sectors or financial instruments are driving increased collaboration, and how is Phillip Capital Cambodia facilitating cross-border investment?
Singapore and Cambodia have long shared a strong and well-established economic relationship, with Singapore consistently ranking among Cambodia's top investors.
This year holds special significance as Singapore and Cambodia celebrate 60 years of diplomatic relations, while Phillip Capital marks its 50th anniversary - testament to our deep-rooted presence and continued relevance in the region's financial landscape.
At Phillip Capital Cambodia we take pride in our Singaporean heritage and credibility. While we do not operate a physical bank branch in Singapore, our extensive financial ecosystem enables us to seamlessly facilitate cross-border investment services for Singaporean businesses and investors entering Cambodia.
Our expertise extends beyond Singaporean investors. Many international investors based in Singapore also view Cambodia as an attractive investment destination due to its cost advantages, economic potential and proximity to Singapore.
From a personal perspective, having lived in Cambodia for over 15 years as a Singaporean, I understand the importance of guiding investors with both familiarity and local insights. I make it a point to personally meet with potential investors, offering them a sense of comfort, trust and strategic guidance from one Singaporean to another.
Ultimately, Phillip Capital Cambodia stands at the intersection of international credibility and local expertise.
As a Singaporean-owned financial group with a licensed bank in Cambodia, we are uniquely positioned to support investors with a blend of trusted governance, financial solutions and deep local market knowledge, ensuring a smooth and confident entry into Cambodia's growing economy."
About Teong Hoon Ong
Mr Ong is a seasoned finance executive, serving as Director and Shareholder Representative at Phillip Bank (part of Phillip Capital Singapore) for over 15 years.
He began his banking career in 1977 with Standard Chartered Cambodia, rising to Country Manager by 2002, then held leadership roles across Phillip Capital, including acting CEO of Phillip Securities Thailand and positions in microfinance. At Phillip Bank, Mr Ong played a key role in the 2019 merger with KREDIT MFI, creating Cambodia’s third-largest bank network, and has championed institutional growth through board representation in insurance and trustee services. Across his roles, he emphasises regional expertise, governance, customer-centric strategies, and community engagement through financial inclusion initiatives.
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In partnership with Cambodia Investment Review (CIR) and the International Business Chamber of Cambodia (IBC), Cambodia Leadership Review has officially launched 50 International Leaders 2025.
Now in its second edition, the publication highlights 50 of the most influential international business and organisational leaders and innovators contributing to Cambodia’s dynamic economic landscape, including Teong Hoon Ong.