Thanh Nien welcomes asset manager as strategic partner

Sai Gon Asset Management (SAM), which manages two funds listed on the Frankfurt Stock Exchange, has become a strategic partner of the Thanh Nien Joint Stock Co.

Under a contract signed in HCM City on Tuesday, SAM will provide financial consultancy for investment projects by Thanh Nien and its affiliates.

It will also help bring in foreign institutional investors for these projects, said SAM chairman Louis Nguyen. The company would also become a strategic shareholder in the next quarter.

Established in 2007, SAM manages the US$50 million Viet Nam Property Holding (VPH) and $75 million Viet Nam Equity Holding (VEH).

About 60 per cent of VPH’s corpus has been disbursed, including for the Phu My Bridge Project and HoSE-listed firm Savimex, while 90 per cent of the other fund has been invested in the stock market, Nguyen told Viet Nam News.

Thanh Nien specialises in real estate, spanning infrastructure and commercial and residential projects.

Its projects under development include a 150ha eco-tourist and resort project in Cam Ranh and three apartment towers in HCM City.

It has 10 affiliates operating in sectors like securities, gold trading floor, steel, apparel, and property.

vietnamnews

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