The property sector accounted for a whopping 66.75 per cent of the total value, followed by banking and finance at 19.1 percent and manufacturing at 9 percent, according to a new report put out by the Vietnam M&A Forum. Last year the consumer goods sector had topped, accounting for 57 percent of the total value, followed by real estate with 27 per cent. The M&A deals in Vietnam were totally worth $3.35 billion in H1 2018, up 39 per cent year-on-year. In the period, Singapore was the top M&A player in the realty sector, with state investor GIC Pte Ltd leading the way. GIC bought a stake in real estate firm Vinhomes, Vietnam’s second-biggest listed company by market capitalization, for $853 million in April. It also bought into Vincom Retail earlier this year. 2018 started off with the acquisition of a 24 percent stake in the Sun Wah Tower, a Grade A office building in Ho Chi Minh City’s District 1, by Japan’s Nomura Real Estate Development. In another major … [Read more...] about Real estate dominates Vietnam’s M&A scene
Metro pacific investments corporation
Metro Pacific Investment Corp. (MPIC) completed the acquisition of a 49 per cent stake in Tuan Loc Water Resources Investment JSC for VND865.6 billion ($37.9 million). MPIC buys 49 per cent stake of Tuan Loc Water Resources JSC According to newswire Thestandard, MPIC said in a disclosure to the stock exchange wholly-owned unit MetroPac Water Investments Corp. finished the purchase of 37.926 million shares, equalling 49 per cent stake in Tuan Loc Water Resources JSC, a subsidiary of Tuan Loc Corporation. The transaction allows MPIC to take existing advantages of Tuan Loc to enter and expand into the Vietnamese water market. Tuan Loc has been installing water supply systems in numerous large-scale projects across the nation. It currently has a charter capital of VND1.6 trillion ($70.24 million). The buy-in allows the Metro Pacific group to take on Vietnamese industrial water concessions. Recently, Tuan Loc, in collaboration with two other domestic investors, … [Read more...] about MPIC buys 49 per cent of Tuan Loc
Vietnam eager to develop Lien Chieu deep seaport The government has been urging the authorities to appraise Lien Chieu Seaport, showing strong support and promising smoother sailing for the project. Deputy Prime Minister Trinh Dinh Dung recently urged the Ministry of Planning and Investment (MPI) to appraise the capital sources and mobilisation methods of investment capital at Lien Chieu port. Besides, the DPM assigned the Danang People’s Committee to complete the pre-feasibility report for the project after the city studied MPI’ appraisal. Based on reports of MPI and Danang city, the Ministry of Transport (MoT) was asked to build the investment planning evaluation report to submit the prime minister for approval. The assignment of the DPM shows Vietnam’s eagerness to develop the Lien Chieu Seaport project, which is considered one of two key projects that aim to boost the central city as a main logistics centre in the ASEAN and the East-West Economic Corridor (EWEC) … [Read more...] about BUSINESS IN BRIEF 5/6
Saigon Co.op to open 50 more convenience stores Saigon Co.op, the country’s leading retailer, will open an extra 50 Cheers in convenience stores in HCMC in partnership with NTUC FairPrice of Singapore this year, said Nguyen Thanh Nhan, general director of Saigon Co.op. At a 2017 review meeting of Saigon Co.op last week, Nhan said Cheers stores would sell household and consumer goods and operate 24/7. In HCMC, there are already two Cheers stores. Besides Cheers, Nhan said this year Saigon Co.op would open 19 more Co.opmart supermarkets, two more Co.opXtra stores, 150 more Co.opSmile shops and at least one more Co.opmart hypermarket in a high-end residential area. To maintain its position as Vietnam’s leading retailer, Saigon Co.op must focus on expanding the retail network, diversifying products and developing logistics, said Nhan. Saigon Co.op is expected to achieve a 10% increase in total revenue. A report released at the meeting showed that in 2017 Saigon Co.op made some … [Read more...] about BUSINESS IN BRIEF 15/4
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.
ADB helps urban infrastructure development in HCM CityVice Chairman of Ho Chi Minh City People’s Committee Tran Vinh Tuyen on February 1 received Eric Sidgwick, Asian Development Bank (ADB)’s Country Director for Vietnam.At the meeting, the municipal official affirmed that HCM City is committed to implementing cooperation deals with its partners, especially ADB. He added that the Vietnamese Government is revising projects using official development assistance (ODA) to ensure their effective implementation.Regarding the four major projects between HCM City and ADB, Tuyen noted that the city has asked the Ministry of Planning and Investment to allocate funding for the metro line No.2.It also approved the compensation plan for land clearance which the HCM City’s Management Authority for Urban Railway and ADB have agreed on. In addition, HCM City has worked on ADB’s recommendations on the first phase of the metro line No.5.For his part, Sidgwick affirmed to support … [Read more...] about BUSINESS IN BRIEF 4/2
Customs signs agreement with banks for e-tax payment The General Department of Customs (GDC) on Tuesday signed a co-operation agreement with six commercial banks to implement a 24/7 e-tax payment scheme.The five local banks are Sacombank, VPBank, HDBank, LienvietpostBank, SCB and the foreign bank is Mizuho Bank Ltd. The e-tax payment through the six banks will be implemented from December 15.Speaking at the signing ceremony, GDC’s Deputy General Director Nguyen Duong Thai said the customs sector was required to upgrade its e-payment portal for the purpose of administrative reform.The e-tax payment would facilitate tax payment anywhere, anytime, reduce time and ensure immediate goods clearance. The customs authority will directly support enterprises to make payment documents from the original data and minimise errors in money transfer procedures.This could help shorten time to complete customs procedures for import-export activities to the average level of ASEAN-4 countries … [Read more...] about BUSINESS IN BRIEF 17/12