By Mai Nguyen
Officials from the finance and investment ministries found it logical to halt the project given its lack of competitiveness, concerns about oversupply and uncertainty over tax support.
Grab was recently reported to be in talks to sell a minority stake in its Thai unit to Central Group to tap the retail conglomerate’s extensive presence in the country.
The latest investment values the company at $20 million. Also, this is the first investment by the Cambodia-based fund manager in Vietnam.
Goldman Sachs holds a 3.55 per cent stake in the Vietnamese internet firm.
The new agency will manage 19 state-owned companies in which the government holds stakes with a combined book value of $42.9 billion.
This would be the first time Rakuten LIFULL STAY develops properties under its brand outside of Japan
AEON said in a statement last month that there was a difference in the direction and strategy of the two companies.
The company will issue 3,000 five-year term notes at the par value of $100,000, scheduled till the end of 2018.
The company recently secured an undisclosed amount of funding from VinaCapital Ventures, the $100-million tech-focused venture arm of local fund manager VinaCapital. The Vietnamese investment firm is also helping FastGo connect with potential investors.
Japan’s Nippon Steel & Sumikin Bussan Corp has acquired a 10.54 per cent holding in Ho Chi Minh City-based steel processor QH Plus