Corporate digest
Vingroup
A consortium led by Singapore's GIC Pte Ltd has agreed with Vietnam's largest conglomerate Vingroup JSC to buy a stake in one of the latter's units for US$500 million, GIC said on Monday. Vingroup will remain the controlling shareholder of the unit, VCM Services and Trading Development Joint Stock Company, after the deal.
Vingroup, once a real estate and retail conglomerate, has grown to become Vietnam's largest listed firm with a market capitalisation of more than US$16 billion.
NTUC Enterprise
NTUC Fairprice CEO Seah Kian Peng has been appointed as group CEO of NTUC Enterprise with effect from Oct 1, replacing the latter's current executive director Kee Teck Koon. The new appointment is in addition to Mr Seah's current appointment as NTUC FairPrice CEO.
Raffles Infrastructure
KOSDAQ-listed electronics components company Magic Micro has emerged as a substantial shareholder of Raffles Infrastructure Holdings on Monday, with a 20.3 per cent stake acquired in an off-market deal at S$0.50 a share. With its acquisition of 13.8 million shares, the total sum of the deal comes up to about S$6.9 million.
