Prominent Cambodian tycoon Mong Reththy said on Tuesday that he has drawn up an inheritance will to distribute his wealth among his five children ahead of medical treatment in Singapore.
In a telephone interview, Reththy, chairman of Mong Reththy Group Limited, said he will receive medical treatment for his heart in Singapore on August 12 and the inheritance is to prevent family disputes in case he dies.
“I don’t go there to die, it’s just that we don't know,” said Reththy, who is also a senator of the ruling Cambodian People’s Party (CPP).
“I have five children, but there is no problem. My wife and children have agreed to sign to accept the will,” he said, adding he cannot discuss in detail how much wealth is allocated to each.
Reththy said in Cambodian tradition, parents do not leave a will. This often causes family members to argue and can tear families apart.
“Our ancestors, the rich, the poor, the medium, have never done a will, so their children fought over inheritance. Not normal disputes, as some cases went to courts and killings,” Reththy said.
Reththy is a celebrity tycoon in Cambodia, posting activities, such as cooking and joking with villagers, on Facebook. Mong Reththy Group has been engaged in land disputes with villagers over concessions in the past and defended it as misunderstandings.
According to its website, Mong Reththy, which was established in 1989, is the biggest agro industrial firm in the country. It has seven subsidiaries that cover construction, palm oil, port, food and the agriculture sectors.
In the interview, Reththy said doctors will insert a spring into his heart because of cardiovascular obstruction. He added that his feet and hands are sometimes numb.
“What I have built over the years are honor, reputation and wealth. The words honor and reputation, some people leave behind bad honor and reputation while some leave good ones behind,” he said.
“I want the next generations to leave behind good honor and reputation for our children, children of others in Cambodia and leave good things for Cambodia and Cambodian people, not something destructive to the nation,” he added.