Ly Yong Phat, born in Koh Kong province, is a prominent businessman and ruling party senator. He also serves as the Vice President of the Cambodia Chamber of Commerce and as a Special Economic Advisor to Prime Minister Hun Sen. In 1999, Senator Ly Yong Phat established the L.Y.P. Group to conduct domestic and interregional operations in hospitality, real estate, infrastructure, utilities, trading and distribution as well as agro-industry. Sen. Phat reportedly holds an interest in 10 sugar and rubber plantations and a Special Economic Zone, spanning 86,000 hectares and accounting for roughly 4.3 percent of land concessions nationwide. 1
Connection to sugar companies
The Ly Yong Phat group is currently a stakeholder in two sugar companies in Kampong Speu, and was an original stakeholder in two sugar companies in Koh Kong. Additionally he is unofficially linked to sugar companies that were granted concessions in Oddar Meanchey.
In Kampong Speu, the Phnom Penh Sugar Company is a wholly owned subsidiary of LYP Group. The adjacent concession awarded to Kampong Speu Sugar Co. Ltd, is owned by Ly Yong Phat’s wife, Kim Heang. Little attempt was made by the Cambodian government authorities to demonstrate that the concessions are really for two separate companies.
In Koh Kong, the two companies Koh Kong Plantation Co. Ltd (KKPC) and the Koh Kong Sugar Co. Ltd. (KKSI) were formed out of a partnership between KSL Group of Thailand, Ve Wong Corporation of Taiwan and Senator Ly Yong Phat. KSL currently holds a controlling 70 percent ownership stake in both companies and Ve Wong Corporation holds a 30 percent stake. Ly Yong Phat reportedly sold his shares to KSL in 2010.
Although there is no official connection, affected communities in Oddar Meanchey reported that they were told by company staff to direct any complaints about the three operating sugar companies to Ly Yong Phat as he was in charge of them. In addition, when Angkor Sugar Company demolished 154 houses in O’Bat Moan village, staff wore t-shirts which said “Donated by H.E. Ly Yong Path.”