Vietnam’s Gemadept to have 51% stake in $30m new logistics centre

Brand logo from the company website

Vietnam’s logistics firm Gemadept Corporation will contribute 51 per cent capital to establish the VND669 billion ($31 million) logistics centre in southern Hau Giang province, the company has announced.

The 15 hectare project is located in the Song Hau Industrial Park, a key area for the company to develop its logistics system in the Mekong Delta region.

Logistics is one of the firm’s two core business activities, besides port operation. In addition, it also has strategic investments in forestry and real estate.

In the logistics industry, the Ho Chi Minh City-based Gemadept is engaged in all segments, including maritime transport, aviation cargo terminal, road transport, forwarding, etc. The company owns and operates six important ports across the country, including the Nam Hai Dinh Vu container port in Hai Phong, in which it is holding 84.7 per cent, and the Dung Quat Port, which it owns nearly 74 per cent.

Its aviation cargo terminal, named SCSC and located within the Tan Son Nhat International Airport, is Vietnam’s largest of its kind. The $50 million cargo station was inaugurated in 2010.

In terms of overseas investment, Gemadept has been planting rubber in Cambodia and is building a real estate complex in Vientiane. The company says the $35 million complex is implemented by a joint venture it forms with a Lao company, and Gemadept holds a controlling stake.

In last fiscal year, the company’s profit after tax jumped by almost three times over 2013, to stand at VND531 billion.

Related stories:

Vietnam based Vinalines plans to retain majority stake in Hai Phong Port

Oman’s SGRF vies for controlling stake in Vietnam’s Hai Phong Port

Vietnam realty major Vingroup eyes stake in Saigon & Hai Phong Ports

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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).

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  • 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.