From farming to higher education, the Cambodian conglomerate has its sights set on future development
Soma Group, one of the main conglomerates in Cambodia, is unique among the region’s businesses. A humble agricultural concern as the 21st century began, it has grown to become so much more — a highly diversified group operating in education, trade, infrastructure, energy, property development and media. The University of Puthisastra has elevated Soma’s profile as a leader in education and health care, having recently been acknowledged as the nation’s #1 private health science university.
An everyday dedication to progress and to Cambodia’s ongoing development drives the Soma Group. Day-to-day practices and holistic decision-making reflect corporate values of making a positive impact through sustainable solutions with lasting results. Through 12 subsidiaries in six industries, employing more than 2,000 staff, Soma Group is committed to solving social and economic concerns and providing opportunities for the Kingdom’s citizens.
Soma Group at first managed a family hobby focusing on agriculture through Soma Farm’s incubator projects. Concentrating on efficient operation and emphasising quality service, Soma Group inserted high-tech production and implemented operational standards across all its incubator projects, from rice and coconuts to egg production.
From the start, said CEO Lok Chumteav Cham Krasna, the company aspired “to create an ecosystem that maximises the limited resources available.” The company evolved by producing agricultural products and providing support services in food security and the labour market. Soma Farm then branched into professional business operations and services, from producing chicken eggs to providing clean water to fruit plantations, as it moved toward a zero-waste model.
A joint venture with the Thailand-based Charoen Pokphand (CP) company created CADI, a MegaFarm project, moving Soma Group one step closer to its objective of establishing a fully integrated agro-industrial ecosystem. Krasna called this “the ultimate goal for leading agriculture players in this sector.”
Operating on an economic land concession of more than 8,000 hectares, the MegaFarm’s goal is to boost long-term and sustainable agricultural practices. “We hope that the success of the MegaFarm serves as a model and inspiration for other actors in the field to raise the bar of standards and best practices in the industry,” Krasna said. “We also hope that the Ministry of Agriculture will recognise and support our initiatives.”
Infrastructure activities support the farms and Cambodia’s economic growth. These include technology, construction, water treatment and energy subsidiaries. Soma Energy focuses on renewable energy and innovative solutions. A collaboration with Japan’s Kobelco Eco-Solutions, Soma Kobelco Water Supply is a reminder that clean water is essential for farms as well as society in general. The “Clean Village Program”’ is focused on waste management, including but not restricted to disposal and sorting. Soma Trading Co., Ltd., the sales and marketing arm for Soma Group’s agriculture products, has become a distributor for various consumer products.
Soma Property and Development was established in 2018 to enable participation in Cambodia’s large-wave property market growth. Despite the COVID-19 pandemic, Soma Group remains optimistic about economic growth. The pandemic “allowed time to restrategise (our) involvement in the industry,” Krasna said. Now, the Soma Hotel Riverside, a pilot luxury boutique hotel project, is “on track for completion” by the end of 2024. “We are keen to further explore projects like housing development, commercial building and ecotourism site development,” the CEO said.
University of Puthisastra
One common thread connecting Soma Group’s diverse activities is what Krasna calls “human capacity” — upskilling individuals’ knowledge and capacity to benefit both the business and society. The group’s core mission is to be a solutions provider to common issues within Cambodia. “When we had the opportunity to invest in a university, we ventured in, because we believe in addressing the issue from the root,” the CEO said.
The University of Puthisastra (UP) joined the portfolio in 2007. Now specialising in Health Science and ICT (information and communications technology), UP is acclaimed as the leading private health university in Cambodia and #13 in the ASEAN region, according to the Applied Higher Education (AppliedHE™) Private University Ranking. UP promotes education in essential “STEM” (science, technology, engineering and mathematics) subjects, continuing to boost the country’s industry 4.0 transformation.
“Our original goal was to provide solutions to real social issues,” Krasna said. “We strategically transitioned to the health sciences because we believe both health and education are Cambodia’s most pressing issues. We can address two issues at the same time.”
Professor Ian Findlay, university President and Vice-Chancellor, elaborated. “We are addressing huge challenges in Cambodia, and we’re trying and succeeding in making a difference,” he said. “Cambodia has the lowest percentage of doctors and nurses (only 8 per 100,000) in the entire ASEAN region, and amongst lowest in the world.” He is out to change that.
UP’s emphasis on STEM is making the biggest difference, Ian said. While the UP curriculum includes degrees in information technology (programming, networking and cybersecurity), 90 percent of students study medicine, dentistry, nursing and midwifery, pharmacy and lab technology. To ensure that students acquire English, the universal language of health skills, UP provides four years intensive learning integrated into the curriculum. UP also partners with about 17 universities in Australia and the United Kingdom.
A native Scot who came to Cambodia by way of Australia, Ian is a molecular geneticist by education and training. “I helped develop clinical diagnostic systems,” he said. “But I was helping only a few hundred people a year. It’s one of the biggest reasons I moved into education. Now, I have an opportunity to improve an entire nation — an incredible legacy.”
A new generation
“Cambodia is a very exciting place to be right now,” Ian said, addressing a new dynamism in society. The Khmer Rouge tragedy of the late 1970s, he noted, robbed Cambodia of most of its infrastructure and “an entire generation of mentors that other countries have. Good leaders between 50 and 70 are very rare to find in Cambodia.”
Fortunately today that gap is being filled by a new generation of university graduates. Among successful UP alumni is Dr Lim Youhok, who practices at Phnom Penh’s Hebron Medical Center.
“As a physician, I am always ready to treat my patients physically, mentally and spiritually,” said Youhok. “As a proud part-time lecturer at UP, I apply integrated teaching and learning in medical education. And I am involved in an incredible project with the Ministry of Health to enhance national clinical care and research. Ultimately, the seed was planted at UP to bear its fruits in society.”
Youhok understands the trials that Cambodia and Soma Group have faced. “The country started from the bottom and is gradually redeveloping all sectors after gaining peace and stability,” he said. “Young people are struggling to access higher education and professional development. Education is still the only way to achieve the dream and help others.”
UP, he said, is emerging “in the midst of an exciting transformation” — one to which Krasna is well attuned. “We hope to not only contribute to Cambodia’s development but also set a foundation for future generations,” she said.
Soma Group’s vision meshes with the Cambodian government’s new Pentagonal Strategy. Establishing a foundation for 2050 and beyond, the Strategy has five pillars, with “people” — educating and developing their abilities — being first and most important. UP’s program contributes mightily to the ambitious goals of the Strategy and thus Cambodia’s future. These include fostering economic growth through job creation and training; more private-sector employment; an expanded digital economy; and a sustainable society.
This is a sponsored article from Soma Group.
