Singapore firm greenlighted to acquire 20% stake in central Vietnam IP developer
Singaporean company Great Master Pte. Ltd. has been approved to acquire a 20% stake in Trung Khoi JSC, an industrial park developer based in the central province of Quang Tri.
Announcing the approval, the provincial Department of Planning and Investment also said that both parties must report any security-defense issue that arises beyond their jurisdiction to provincial authorities, Military Region 4 Command, and Ministry of Defense.
A warehouse section in Quan Ngang Industrial Park, invested by Trung Khoi JSC, in Gio Linh district, Quang Tri province, central Vietnam. Photo courtesy of Lao Dong (Labor) newspaper.
The 20% stake is worth VND129 billion ($5.08 million) per the Vietnamese firm’s charter capital, which stands at VND645 billion. The three other shareholders are all Vietnamese citizens.
Great Master Pte. Ltd. is represented by Luo Jin Jen, a Taiwanese national.
Established in 2020, Trung Khoi JSC is known as developer of the Trieu Phu Industrial Park, which has a sea border. The park, which received government approval in 2021, spans 529 hectares in three communes of Trieu Phong district and has an investment of VND4.53 trillion ($178.4 million).
Quang Tri, home to some 20 industrial parks and industrial clusters, recorded no foreign direct investment project in the first half of this year.
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