Japan’s Nomura sells entire Vietnam stake to industrial developer PC1
Financial holding company Nomura has transferred its entire 70% stake in Nomura Asia Investment Vietnam (NAIV) to PC1, a domestic company engaged in power construction, energy and real estate investment.
Singapore-based NAIV is a 70-30 joint venture between Nomura and Japanese investment firm JAFCO. NAIV owns the Nomura-Hai Phong Industrial Zone in Hai Phong city, northern Vietnam’s logistics hub about two hours’ drive east of Hanoi.
Facilities in Nomura-Hai Phong Industrial Zone in Hai Phong city, northern Vietnam. Photo courtesy of NAIV.
The transaction, subject to regulatory approval, will enable PC1 to hold a 70% stake in the industrial zone. The Vietnamese industrial developer’s board of directors approved the deal Monday. The company expects its new holding will further drive its industrial investment plans across Vietnam.
The 153 hectares Nomura-Hai Phong Industrial Zone in An Duong District was set up in December 1994 as the first foreign-invested industrial zone in northern Vietnam.
Both Nomura and PC1 did not disclose the transaction price. Nomura said Monday it did not expect the divestment to have a material impact on its consolidated results.
- Related News
- Read More
Greenback surge appears a mixed bag for Vietnam businesses
As expected, the recent surge in the U.S. dollar against the Vietnamese dong (VND) has benefited exporters handsomely while importers are feeling the pinch of paying more for their purchases.
Companies - Sun, April 21, 2024 | 6:51 pm GMT+7
With no clean land, $169 mln central Vietnam project faces termination
Binh Dinh province has granted in-principle approval for the termination of a VND4.3 trillion ($169 million) wooden board manufacturing project by Kim Thanh Lap Forestry JSC, citing lack of clean land to implement it.
Industries - Sun, April 21, 2024 | 2:55 pm GMT+7
Techcombank plans 10% stake issue to foreign strategic investors
Major Vietnamese private lender Techcombank plans to issue a 10% stake to overseas strategic investors, given its current self-capped foreign ownership of 22%, said chairman Ho Hung Anh.
Companies - Sun, April 21, 2024 | 10:47 am GMT+7
Hanoi low-cost apartment supply down 47% yearly since 2020: Savills
Hanoi’s supply of budget apartments priced below VND30 million ($1,179) per square meter has dropped 47% every year since 2020, according to real estate service firm Savills Vietnam.
Real Estate - Sun, April 21, 2024 | 9:40 am GMT+7
Vietnam sees dramatic increase in fruit, vegetable exports to South Korea, Thailand
Vietnam saw high export growth in fruits and vegetables to all major markets in Q1/2024, but the intake by South Korea and Thailand was sudden and dramatic, a report says.
Economy - Sun, April 21, 2024 | 8:15 am GMT+7
Key points and market implications of Vietnam’s new Real Estate Business Law
The National Assembly on November 28, 2023 passed the Law on Real Estate Business 2023 (LREB 2023), which will take effect on January 1, 2025. CBRE researchers gave an insight into new points.
Consulting - Sun, April 21, 2024 | 6:58 am GMT+7
AHK Vietnam has new chief
Peter Kompalla has been appointed chief representative of the Delegation of German Industry and Commerce in Vietnam (AHK Vietnam) since April 1.
Companies - Sun, April 21, 2024 | 5:33 am GMT+7
Vietnam booth makes Milan Design Week debut
Italy’s Milan Design Week has featured a Vietnam Pavilion for the very first time, presenting unique wooden furniture and handicraft products from 35 Vietnamese businesses.
Economy - Sat, April 20, 2024 | 11:46 pm GMT+7
Tiny green market with big heart: HCMC meets demand for healthy food
Indigenous, local specialties produced by innovative startups are among thousands of quality products on display at the "Phien cho xanh tu te” (Kind Green Market) held this weekend in Ho Chi Minh City.
Economy - Sat, April 20, 2024 | 7:20 pm GMT+7
Vietnam central bank pumps cash to save troubled lender SCB
Vietnam’s central bank has pumped in money to support Saigon Commercial Bank (SCB), which experienced a run triggered by the arrest of real estate tycoon Truong My Lan in October 2022.
Banking - Sat, April 20, 2024 | 5:15 pm GMT+7
Lending picks up at Vietnam banks with 1.34% Q1 growth
Credit growth in the Vietnamese banking system accelerated in the final days of last month to reach 1.34% as of March 29 from end-2023.
Banking - Sat, April 20, 2024 | 3:30 pm GMT+7
Wave of 'huge' investments to flood central Vietnam province Binh Dinh: official
Investors are considering pouring cash into the south-central province of Binh Dinh, including foreign giants, said standing Vice Chairman of the province, Nguyen Tuan Thanh.
Investing - Sat, April 20, 2024 | 2:01 pm GMT+7
Thailand’s EV sales forecast to miss target
Electric vehicle (EV) sales in Thailand may fail to reach the estimate of 130,000 units this year as prices are likely to keep changing, according to Hyundai Mobility Thailand.
Southeast Asia - Sat, April 20, 2024 | 11:48 am GMT+7
Indonesia develops sustainable tourism
Indonesia has been working to realize its goal of building a quality, sustainable and environmentally friendly tourism industry.
Southeast Asia - Sat, April 20, 2024 | 11:45 am GMT+7
ASEAN foreign ministers call for end to Myanmar violence
ASEAN foreign ministers on Friday issued a statement calling on all parties to immediately cease violence and exercise maximum restraint in the border areas of Myanmar.
Southeast Asia - Sat, April 20, 2024 | 11:40 am GMT+7
Food security, climate change top ASEAN agenda during Malaysia’s chairmanship
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on Friday.
Southeast Asia - Sat, April 20, 2024 | 11:39 am GMT+7
