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Friday, March 12, 2010

SP Setia bags Vietnam deal

PROPERTY developer SP Setia Bhd has in principle bagged a property project from Vietnam's Investment and Industrial Development Corp to develop a 10.8ha land in Binh Duong province,Vietnam, for a 50-year term.

In its filing to Bursa Malaysia yesterday, SP Setia said its subsidiary Setia Lai Thieu Ltd has received an investment certificate from the People's Committee of the Binh Doung Province for the establishment of Setia Lai Thieu One Member Co Ltd with a charter capital of US$6.5 million (US$1 = RM3.32).

Setia Lai Thieu One Member Co will undertake the development of Eco-Xuan Lai Thieu, which features shop houses, terrace houses, semi-detached houses, commercial centres, club house and apartments.

By Business Times

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