WorldBridge Group and DRSB Express have publicly denied any shared ownership or management links, responding to speculation that the conglomerate holds a stake in the logistics firm. Both companies issued statements this week to clarify their relationship, confirming only a strategic cooperation agreement.
On August 11, DRSB Express announced that WorldBridge does not hold any shares, ownership rights, or interests in the company. The statement explained that a Memorandum of Understanding (MoU) signed between the parties was intended solely to explore potential business cooperation and did not constitute an investment agreement or transfer of shareholding rights.
DRSB Express labeled claims of WorldBridge's ownership as false and warned that it reserves the right to take legal action against those who continue to spread such information and cause harm to relevant parties.
On the same day, WorldBridge Group issued its own statement confirming it holds no shares or interests in DRSB Express. The group reiterated that the MoU was only meant to explore cooperation opportunities and did not establish any investment, ownership, or management relationship. WorldBridge also warned of legal consequences for those circulating false claims.
A day later, WorldBridge issued an additional announcement to prevent misunderstandings, stating that the two companies continue their strategic cooperation under the MoU. The cooperation aims to enhance online shopping services and goods transportation from China to Cambodia, expanding these services through WorldBridge's existing ecosystem.
The clarification comes amid growing public concern over DRSB Express, including delayed deliveries, disputes with franchise partners, and reports of nearly $3 million in debt involving its Founder and CEO, Kim Sambath. The company has previously attributed shipment delays to stricter customs inspections in China and Vietnam, which caused congestion and slowed goods movement to Cambodia.
DRSB Express said it would absorb additional costs from the disruption and work to clear outstanding shipments without raising shipping charges. Concerns have also emerged over employee salaries. On July 13, DRSB issued a notice stating that resigned employees would receive outstanding salaries for May and June between July 25 and August 5. However, several employees commented on the notice, claiming they had resigned due to unpaid salaries since April and had yet to receive the payments.
Despite the concerns, DRSB committed to operating with transparency and responsibility, while WorldBridge said further details on their cooperation would be announced after completing its review.
Source: Khmer Times
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