VinaChem exits billion-dollar Long Son project  

Long Son petrochemical Complex

Vietnam National Chemical Group (VinaChem) has successfully exited the $4.5 billion Long Son petrochemical project.

This was done by signing a contract that transferred the company’s 11% stake in this project to the Vietnam National Oil and Gas Group (PVN).

After the transfer, PVN holds 29% ownership in the Long Son Petrochemical complex.

According to Vietnam Investment Review, VinaChem has received 30% of the total payable amount from PVN right after the contract was signed.

Long Son Petrochemical Complex, which was started as a joint venture between The Siam Cement Public Company Limited (SCG), Thailand Plastic Company, Qatar Petroleum, PVN and VinaChem, has a paid up capital up to $4.5 billion.

While the foreign partners hold 71 per cent equity stake, PVN and VinaChem held 18 per cent and 11 per cent  equity stake, respectively. This is Vietnam’s third petrochemical complex, after Dung Quat and Nghi Son.

Singapore Reporter/s

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

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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.