Sembcorp Industries' urban business forms JV to expand warehousing properties in Vietnam

LISTED conglomerate Sembcorp Industries' urban business has formed a joint-venture company with Japanese property firm CRE Asia, as part of an effort to facilitate the expansion of its warehousing properties in Vietnam.

Sembcorp Industries, in a regulatory filing on Thursday, said that its wholly-owned urban business Sembcorp Development has partnered CRE Asia to form a joint-venture company, Sembcorp Infra Holdings. The joint-venture company, in which Sembcorp Development has an effective ownership of 70 per cent, was incorporated in Singapore with an issued capital of US$100,000.Sembcorp Infra Services recently increased its share capital via the issuance and allotment of about 6.

Following the allotment, Sembcorp Development’s effective shareholding in Sembcorp Infra Services went down from 70 per cent to 52.5 per cent.

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Stocks to watch: Frasers Centrepoint Trust, Keppel, Sembcorp, Perennial, SPH, ESR-ReitTHE following companies saw new developments that may affect trading of their securities on Wednesday: Read more at The Business Times.
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