Prince Holding Group (PHG) is aware of recent allegations republished by media outlets, including the allegations published by Central News Agency Taiwan regarding PHG’s supposed involvement in illicit activities in Palau. These claims are false and defamatory. PHG has no business, operations, entities or investments in Palau.
The falsehoods originate from an undisclosed report by an organization named Pacific Economics, a self-described think tank that has not disclosed its funding sources, raising concerns about potential conflicts of interest and impartiality.
PHG would like to draw attention to the following facts about these allegations.
1. Concerns over Validity of Alleged Report by Pacific Economics
The claims against PHG are said to be based on a report by a self-described think-tank, Pacific Economics. The report has not been made public for review or verification. It therefore cannot be determined whether the report contains verifiable information regarding the claims.
2. Concerns over Central News Agency Taiwan’s Reporting
Ethical reporting demands that news outlets seek comments for allegations they publish. Central News Agency Taiwan did not seek PHG’s comment on the allegations levelled in its publication. Instead, it amplified unverified claims from the Pacific Economics Report without independent scrutiny. It is shocking and unacceptable that Central News Agency Taiwan neglected to meet the standard expected of credible publication agencies. Central News Agency Taiwan’s failure to verify claims with PHG before publication and its reliance on an undisclosed report has misled the public and caused reputational damage to PHG.
3. Direct Challenge to Said Findings within the Alleged Report from Pacific Economics
Credible research institutions uphold rigorous standards of integrity, transparency, and accountability. By failing to provide publicly verifiable data or disclose its methodology, Pacific Economics undermines its own credibility and raises questions about its intent. Pacific Economics has also failed to provide any evidence to support its allegations and has instead published falsehoods in the alleged report. PHG will formally be requesting that Pacific Economics provide:
The full and unedited report containing allegations against PHG, a detailed explanation of its research methodology, the source of funding for the report, and the names and credentials of the researchers involved.
Should Pacific Economics fail to provide the requested information within a reasonable timeframe, PHG reserves its right to pursue legal action for defamation and reputational harm.
4. PHG’s Commitment to Integrity and Lawful Business Practices
As one of Cambodia’s leading business groups, PHG is built on a foundation of transparency, compliance and ethical business conduct. PHG runs operations in Cambodia exclusively where we continue to contribute positively to the country’s economic growth and development.
Any allegations associating PHG with extraterritorial activities are false and are blatant attempts to distort facts and mislead the public.
We urge Central News Agency Taiwan to immediately retract the news story in question and issue the necessary clarification and/or correction and apology. We also urge Pacific Economics to disclose its full report, including information on its funding sources and research methodology.
PHG remains committed to operating its business with integrity and transparency and will not tolerate the publication of misinformation regarding the group.
We will be instructing Duane Morris & Selvam LLP to follow up on the various issues raised in this statement.
Prince Holding Group
