Singaporean funds pour more money into attractive Vietnamese businesses While the year 2013 witnessed the “landing” of many investors from  FPT, GIC, managing the investment portfolio worth $100 billion, is an institution under the management of the Singaporean government. Meanwhile, Cashew Investments is a branch of Temasek Holdings, an investment corporation of the government. The stake transfer deals, worth of millions of dollars, were only recently revealed to the public, when FPT released its annual report, disclosing its 10 largest shareholders. In March, GIC and The Asian Entrepreneur Legacy (TAEL) Partners spent VND300 billion to buy 10 million shares of PAN, an agriculture and food company. According to PAN’s CEO, Michael Louis Rosen, the Singaporean government has a strong interest in the agriculture and food sector. TAEL, headquartered in TAEL not only poured money into PAN, but also became a big shareholder of Vinasun UOB, a Singaporean bank, got the go-ahead from the State Bank of Under current regulations, foreign strategic shareholders can hold only up to 20 percent of the chartered capital of one Vietnamese bank. However, an exception may be made in the case of GP Bank, pending approval by the Prime Minister. Alan Phan, a prominent analyst, has said that there is currently a significant cash flow from A senior executive of a securities company said Michael Rosen from PAN also said that “ Chair of the Vietnam Securities Commission Vu Bang believes that the foreign investment wave will strengthen this year, as the national economy bounces back after bottoming out. VNE |
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