Sembcorp adds three industrial parks to its Vietnam portfolio through subsidiary

Nicole Lim
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Sembcorp’s effective shares in the three new projects range from 24.6% to 49.3%.

Sembcorp Industries (Sembcorp) adds three Vietnam Singapore Industrial Parks (VSIP) to its portfolio in Vietnam under its wholly owned subsidiary, Sembcorp Development.

The investment licences for VSIP Thai Binh, VSIP Quang Ngai II and Becamex-VSIP Binh Thuan were awarded to companies held by VSIP Joint Venture Company (VSIP JV Co), Sembcorp’s 49.3%-owned joint venture company with Vietnam state-owned enterprise, Becamex IDC Corporation.

Sembcorp’s effective shares in the three new projects range from 24.6% to 49.3%.

In total, Sembcorp has participated in the development of 18 VSIPs with a total licensed land area of 11,588 hectares.

These new projects are not expected to have a material impact on the earnings per share and net tangible assets per share of Sembcorp for the financial year ending Dec 31.

Lee Ark Boon, CEO of Sembcorp Development, said “As a master developer and growing renewables player in Vietnam, Sembcorp contributes to the development of low-carbon industrial parks through our comprehensive suite of solutions. These include solar energy, battery energy storage systems, as well as carbon management solutions such as the provision of verified renewable energy certificates. By partnering our key stakeholders including tenants and the government to incorporate our solutions into the operations of our low-carbon industrial parks, we will continue to support Vietnam’s industrial transformation and energy transition goals.”

Shares in Sembcorp closed 4 cents lower or 0.78% down at $5.09 on May 31.

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