Vietnam’s Fecon allies with UAE investment fund for infrastructure development

Fecon and Vault Investment executives sign strategic partnership agreement

Fecon Foundation Engineering and Underground Construction and the United Arab Emirates based fund Vault Investment have forged a strategic partnership that may lead to a spate of joint  investments in the Vietnamese infrastructure and real estate market, Fecon announced on its website.

Vault is the investment fund arm of Nakheel, which is among the five largest property developers in the UAE, and is best known for its land reclamation projects, including the Palm Islands, the Dubai Waterfront, the World, and the Universe islands.

The partnership between Fecon and Vault Investment comes two months after the Vietnamese firm met Nakheel executives in Dubai.

Feconn  hopes that Vault will deploy joint projects in Vietnamese infrastructure sector, after showing its works for transportation, real estate and tourism, to the UAE partner.“Following big expos and trade promotion events in the UAE, Fecon has set up its own representative office in Dubai in April. These are the first bricks to build trust between the two companies, and help leverage investment opportunities in both markets,” said Sultan Ali Rashed Lootah, managing partner of Vault Investment.

Under the terms of agreement reached late last week, Fecon will be the Vietnam-based project developer for Vault Investment. In turn, the Middle East fund will elevate Fecon’s operations in Dubai, as well as investments from the UAE companies into Vietnam. “This is a big event for us, as opportunities are opened to us to be able to cooperate with the foreign investors first in Vietnam, as well as to expand our business globally,” Fecon said.

In addition to Dubai, the Vietnamese developer is also exploring synergies with investors from Japan, Belgium, Korea and Czech.

In May, Fecon and Czech’s rail vehicles producer SKD Trade inked a memorandum of understanding to jointly implement a $1 billion project in Vietnam. SKD Trade will be the the focal point for financial arrangement and for calling other investors to the project.

During the Invest ASEAN 2015 in Vietnam, Fecon said it had held talks with a to a group of overseas incorporated investment funds, such as Dragon Capital, CIMB-Principal Asset Management, Sumitomo Mitsui Asset Management,

Fecon, which is based in Hanoi, posted a 27 per cent growth in profit after tax last year. The profit stood at VND130.3 billion ($6 million). Its earnings per share (EPS), within the past quarters, has been stable at around VND3,000, that is higher than several major peers like Hoa Binh Construction and Real Estate, Petroleum Equipment Assembly and Metal Structure, Vietnam Construction And Import-Export Corporation (Vinaconex) and PetroVietnam Construction.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.