29/08/2008
Aseana Properties is putting £15 million into the first international hi-tech park in Ho Chi Minh City.
Fully listed Aseana, chaired by Dato Mohammed Azlan bin Hashim, has taken a 51 per cent interest in the development of the park in the city’s Binh Tan district.
The company says this means it will invest around $27.6 million (nearly £15 million) in the project, whose total development costs are expected to exceed $400 million, in anticipation of good returns from a still growing economy.
Dollar-denominated Aseana shares now trade at 50 cents (27p), down from a $1.10 high and value the company at $125 million.
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