Wednesday, December 17, 2008

Saigon Asset Management signs deals with local partners

The Saigon Asset Management Corporation (SAM) signed strategic cooperation agreements on Dec. 16 with three local companies to increase the efficiency of investments in real estate projects.

Under the terms of a deal inked with the Phu My BOT Joint Stock Company (PMC), the two firms will join forces to provide consultancy services and encourage investors to pour investment into other businesses.

SAM and the Thanh Danh Trade and Construction Co. Ltd, one of the major stakeholders of PMC, agreed to work as consultants and arrange investment for the 120 million USD Sai Gon II bridge project, the 250 million USD No. 1 tramcar route in Ho Chi Minh City , and the 800 million USD Ca Pass tunnel project.

SAM, which now manages two funds listed on the German stock market - Vietnam Equity Holding and Vietnam Property Holding, also agreed upon a deal with the SAVIMEX Joint Stock Company (SAV) to jointly develop real estate projects funded by SAV investment.
Source: VNA

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