Metro Pacific Investments Corporation (MPIC), the owner of 44.94 per cent of Ho Chi Minh City Infrastructure Investment JSC's (CII) subsidiary, will buy a 49 per cent stake in Tuan Loc Construction Investment Corporation to expand its operations in Vietnam. Metro Pacific Investments Corporation spent $38 million on the deal Accordingly, MPIC, through its subsidiary MetroPac Water Investments Corporation (MPW), signed the purchase agreement to buy 49 per cent stake in Tuan Loc, one of the largest water supply systems builders in the country. The deal is valued at $38 million. The deal is subject to the satisfaction of customary closing conditions. The transaction is expected to be completed on June 30. The buy-in deal allows the Metro Pacific group to expand into Vietnamese industrial water concessions. Established in 2005, Tuan Loc specialises in infrastructure construction, including bridges, roads, and seaports. It joined in numerous projects, including … [Read more...] about MPIC acquires 49 per cent stake in Tuan Loc Corp.
Metro pacific investments corporation
Vietnam – a lucrative market for Thai businesses Coming off the impressive success of Thai trade fairs in Vietnam over the past 13 years, Thai businesses and investors have begun to realise the huge potential the Vietnam market presents. The statement was made by Nguyen Khac Luan, Director of Vietnam National Trade Fair and Advertising Company (Vinexad) at the opening of a Made in Thailand Outlet taking place on January 15-18 at the Hanoi Cultural Friendship Palace. Luan said the fair has attracted 100 companies showcasing high-quality Thai products like food, beverages, utensils, cosmetics and skincare products, handicrafts, garments, and electronics in roughly 120 stands. Thai Ambassador Anunson Chinvano spoke highly of the strong development of the Vietnam market and said the fair provided a good chance for Thai businesses to promote their products. It also provided an excellent opportunity for them to seek cooperative opportunities with Vietnamese partners to further spur … [Read more...] about BUSINESS IN BRIEF 16/1
Bottom fishing keeps market afloat Kim Ngan By Kim Ngan - The Saigon Times Daily HCMC – The local stock market staged a mild recovery yesterday as bottom fishers actively picked cheap shares, lifting up the VN-Index by 0.34% against the previous session to 588.53. Market breadth expanded as gainers outnumbered laggards by 110 to 85. However, liquidity on the Hochiminh Stock Exchange was low with trading volume falling 4% to 82.7 million shares and value dropping 9.7% at over VND1.4 trillion (US$66.3 million). Heavyweights VNM, VIC and BVH were the main contributors to the market rally yesterday. Notably, Hochiminh City Infrastructure Investment Company (CII) jumped to the ceiling price at VND18,900 with nearly 3.5 million shares changing hands, buoyed by news that the firm earned over VND1 trillion after transferring 20 million LGC shares and issuing nearly 491,300 convertible bonds for the Philippines’ Metro Pacific Tollways Corporation. Realty tickers such as KBC, … [Read more...] about Bottom fishing keeps market afloat
HÀ NỘI - HCM City Infrastructure Investment JSC (CII) has removed the property development unit from the company's portfolio to raise the limit of foreign ownership to 70 per cent. The decision was made after the firm transferred all of its responsibilities and obligations concerning the BT Thủ Thiêm project to the North Thủ Thiêm Co Ltd. "The transfer helps the company withdraw from the real estate sector and allows foreign investors to increase their stake in the company from the current 49 per cent," CII said in a statement on Tuesday. The company's management board on the same day also decided to do away with the real estate and water business units. The water business unit will be handed over to the Sai Gon Water JSC. The board of managers gave its approval to the company to increase the limit of foreign ownership to 70 per cent from the existing 49 per cent and requested the board of directors to complete the necessary documents at the earliest. The company has changed its … [Read more...] about CII to raise foreign ownership limit
Metro Cash & Carry Vietnam managing director Philippe Bacac describes how the firm has spent a decade serving professional customers with the finest produce via developing quality supply chains and helping local producers and suppliers reach world-class quality standards. Please give us a brief outline of Metro’s development and success in Vietnam since its first outlet opened in Ho Chi Minh City in 2002. Metro is the international leader in wholesale exclusively for professional customers such as hotel and restaurant operators, catering and hospitality firms, independent small retailers, institutions and offices. Since the opening of our first wholesale centre in Vietnam in 2002, we have grown to 19 outlets nationwide serving around one million registered customers. Each centre creates employment opportunities for some 400 people. Cooperation with farmers is another great success. We have trained 20,000 fishermen, farmers, producers and provincial officers to achieve … [Read more...] about Metro ‘s economic development goal