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Sembcorp increases stake in Vietnam JV

Property

Sembcorp increases stake in Vietnam JV

Samantha Chiew Published on Tue, Nov 21, 2017 / 5:19 PM GMT+8

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SINGAPORE (Nov 21): Sembcorp Industries through its wholly-owned subsidiary, Sembcorp Development, is increasing its interest in Vietnam Singapore Industrial Park (VSIP) to 96.6% from 92.9% previously.

VSIP represents the Singapore consortium which holds a 51% stake in Vietnam Singapore Industrial Park Joint Venture, the developer of the Vietnam Singapore Industrial Park projects in Vietnam.

The group acquired the shares from a minority shareholder for a consideration of US$6.9 million ($9.4 million).

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