Sembcorp Industries' urban business forms JV with CRE Asia
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Tay Peck Gek
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Singapore
LISTED conglomerate Sembcorp Industries' urban business has formed a joint-venture company with Japanese property firm CRE Asia, as part of an effort to facilitate the expansion of its warehousing properties in Vietnam.
Sembcorp Industries, in a regulatory filing on Thursday, said that its wholly-owned urban business, Sembcorp Development, has partnered CRE Asia to form a joint-venture company, Sembcorp Infra Holdings. The joint-venture company, in which Sembcorp Development has an effective ownership of 70 per cent, was incorporated in Singapore with an issued capital of US$100,000.
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