SP Setia eyes RM400m sales from Vietnam project

The 'EcoLakes' project, with a gross development value of RM2.5 billion, will showcase Malaysian expertise in the property development sector in Vietnam. PROPERTY developer SP Setia Bhd is targeting between RM300 million and RM400 million in sales of properties at its soon-to-be-launched 'EcoLakes' project in Vietnam.Its group managing director and chief executive officer Tan Sri Liew Kee Sin said the company, which has obtained the necessary approvals to launch the project in April this year, will use the project to showcase Malaysian expertise in the property development sector in Vietnam.The 200ha integrated development, which carries a gross development value of RM2.5 billion, is located in Ho Chi Minh City."We will ensure that this maiden project of ours in Vietnam carries the same high standards executed in Malaysia as we brand ourselves as one of the best developers in that country," he told reporters during a Chinese New Year gathering in Penang yesterday. Read more

(New Straits Times 16-2-2008)

BLand in pact on Vietnam bridge project

KUALA LUMPUR: Berjaya Land Bhd (BLand) has entered into an agreement in principle with three Vietnam companies on the proposed construction of a bridge across the Dong Nai River linking Nhon Trach District, Dong Nai Province to Ho Chi Minh City. In a statement to Bursa Malaysia yesterday, BLand said it entered into an agreement with Vietnam’s Tin Nghia Co Ltd (TNC), Development Investment Construction Corporation (DIC) and Vietnam Infrastructure Hexagon Ltd (VIHL) on the proposed bridge project. Under the agreement, BLand said the parties had agreed to establish an enterprise either in the form of a limited liability company (LLC) or a joint stock company or to form a business cooperation (JV) to invest in and carry out the bridge project.

(29-1-2008 The Edge)

BLand ratings unaffected by move to drop Viet project

BERJAYA Land Bhd's decision to drop a planned transportation infrastructure job in Vietnam last week did not stir concerns among analysts, who believe that the firm will be better off picking jobs that are more financially viable.The group is already occupied with five property development projects in both Hanoi and Ho Chi Minh City and they are not too worried about a single infrastructure job that did not pan out well. BLand last Friday said that it will not proceed with a plan with Tin Nghia Co Ltd, a state-owned company from the southern Dong Nai Province, on the overall development of Nhon Trach District that included its transportation network. The companies have decided to let the memorandum of understanding signed in late 2006 lapse, after a 12-month extended feasibility study done by BLand.

(29-1-2008 New Straits Times)

WCT eyes more Vietnam projects

PETALING JAYA: WCT Engineering Bhd is planning more projects in Vietnam following the approval obtained for its first commercial landmark in the suburbs of Ho Chi Minh City. Executive director Loh Siew Choh said it would still be in property development. With a population of 84 million, Vietnam offers huge potential to companies with good track record. Ho Chi Minh City alone has a population of 10 million.

(11-01-2008 The Star)

WCT Gets Approval For Project In Vietnam

PETALING JAYA: WCT Engineering Bhd has obtained approval for its first property development project in Vietnam. The company was awarded an investment certificate yesterday by the People’s Committee of Ho Chi Minh City to undertake the Platinum Plaza Development Project, located on 9ha in the Binh Chanh District. The project would be an integrated development providing retail and wholesome family entertainment amenities and would be carried out in three phases over four years after the completion of land compensation and clearance.

(10-1-2008 The Star)