June 24, 2025
BANGKOK – Krungthep Turakij has published an in-depth analysis titled “Behind Hun Sen’s fuel import ban: favouring Tela, the nominee firm linked to Cambodia’s leadership”, shedding light on the economic and political context behind Cambodia’s recent decision to halt fuel imports from Thailand.
While the move has sparked concerns over rising energy costs, the article suggests the policy could offer a strategic windfall for powerful domestic players, most notably Kampuchea Tela. The policy shift could allow the government to reset pump prices to reflect “real” costs, benefiting local companies if the price structure is adjusted accordingly.
Kampuchea Tela: A dominant force in Cambodia’s fuel sector
Established in 1999 by visionary businessman Oknha Chun On, Kampuchea Tela has grown from a modest venture into one of Cambodia’s leading energy companies. With a registered capital of over US$1 billion and a nationwide network of more than 80 petrol stations, the company plays a critical role in the country’s fuel supply.
Beyond petroleum, Kampuchea Tela has diversified its business interests, including:
- Tela Mart and Tela Supermart convenience stores
- LUNA Café chain
- Seafood distribution
- Import and sale of refined oil and household/industrial gas
Its collaborations with global energy players—Total, Caltex, Thailand’s PTT, and Sokimex—have enhanced its technological and logistical capacity, strengthening its market position.
Oknha Chun On: From local businessman to economic power broker
“Oknha” is an honorific title in Cambodia granted to individuals recognised for their contributions to national development. Chun On is widely respected across both business and political spheres. Though he is not related by blood to Prime Minister Hun Sen’s family, the article notes his close alignment with government economic policies and strategic interests.
According to a 1999 report, Chun On held the majority stake in Kampuchea Tela, with additional shareholders—some Thai nationals—holding interests via nominee structures. This reflects a complex cross-border ownership arrangement that blurs the lines between local and foreign capital.
State control and pricing dynamics
The Cambodian government regulates retail fuel prices using the Mean of Platts Singapore (MOPS) index, updated every 10 days by the Ministry of Commerce. If fuel imports from Thailand are suspended, sourcing from alternative countries such as Singapore, Malaysia, or Vietnam could increase overall costs.
This opens the door for the state to adjust its pricing formula by adding a “premium” to reflect higher logistics costs, benefiting domestic fuel distributors in both margin and market share.
Conclusion: Tela’s growing role in Cambodia’s energy landscape the context of geopolitical uncertainty and energy market volatility, Kampuchea Tela has emerged as a major force shaping Cambodia’s energy economy. With its deep ties to the state and strategic adaptability, the company appears well-positioned to turn challenges into opportunities.
As such, Oknha Chun On is seen not only as a successful entrepreneur, but as a key figure influencing the direction of Cambodia’s economic policy.