Business Briefs 18 Sep 2019

18-Sep-2019 Intellasia | | 9:10 AM Print This Post

* Thang Long Air Services Corporation (Taseco) has sold 4.5 million shares of Taseco Air Services JSC (AST) to Stic Pan-Asia 4th Industry Growth Private Equity Fund, a South Korean investment fund. After the transaction, Taseco reduced its holding at AST to nearly 22.9 million shares, or 50.83% from 60.83%. In addition, the foreign ownership at AST increased to 44.5% from the previous 35%. AST currently has three major shareholders, including Taseco, Denmark’s PENM Partners and Stic Pan-Asia 4th Industry Growth Private Equity Fund.

* Bamboo Capital JSC (BCG) will launch two new real estate projects. Specifically, the Casa Marina expansion project, in which an additional 160 villas will be developed on 12 hectares in Binh Dinh Province’s Quy Nhon City, was to be commenced late this year. Meanwhile, work on a resort project in Khanh Hoa Province’s Nha Trang City will start next year. BCG Deputy General Director Pham Minh Tuan said the company will also complete procedures to execute solar power plants in Long An, Quang Nam and Ben Tre provinces.

* The UK conglomerate Jardine Matheson has showed its interest in acquiring stakes in Vietnam’s leading dairy processor Vinamilk and Electricity Vietnam Group and in other energy, technology and infrastructure projects in Vietnam. Jardine Matheson has been operating in Vietnam for 25 years and has made 13 investments worth US$2.5 billion in Truong Hai Auto Corporation, Vinamilk and Refrigeration Electrical Engineering Corporation, among others.

* BIM Land JSC, a subsidiary of BIM Group, has signed a deal with the International Finance Corporation (IFC). In which, the later will provide the former a loan of US 87.5 million to develop property projects in Halong, Phu Quoc and Laos’ Vientiane.

* International Gas Product Shipping JSC (GSP) has approved a plan to buy an LPG tanker with a capacity of over 5,000 cubic meters at US$10.9 million.

* SONADFZI Chau Duc Shareholding Company (SZC) will ask for its shareholders’ opinions about the dissolution of its affiliate Chau Duc Golf Course Co., Ltd, next quarter, but it will continue executing the Chau Duc golf course project in Ba Ria-Vung Tau Province in line with the approved investment certificate.


Category: Business, Vietnam

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