Investor of the US$321,7 million project at Thu Thiem New Urban Area exposed

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Song Viet complex is located at the functional area No.1 – Thu Thiem New Urban Area, An Khanh Ward, District 2, Ho Chi Minh city.

According to the approved master plan, Song Viet complex will comprise of commercial and service facilities for local residents and will help speed up infrastructure development in the urban area.

Quoc Loc Phat JSC was established on September 04, 2014 with charter capital of VND1,500 billion (equivalent to US$66,1 million). Its head office is located at No. 19, 31B Street, Quarter 5, An Phu Ward, District 2, Ho Chi Minh City. The company’s legal representative is Pham Quang Hung.

According to an announcement of business registration, four founding shareholders of the company include one company: Hai Dang Construction Investment Joint Stock Company and three individuals: Pham Quang Hung, Le Van Tu and Nguyen Minh Bao. Hung was the biggest shareholder, holding 70 per cent of stakes of Quoc Loc Phat JSC.

In March 2016, Keppel Land Thu Thiem Pte Ltd signed a sale agreement with Hung to acquire 30 million stocks, equivalent to 20 per cent ​​of total stakes of Quoc Loc Phat JSC, turning Quoc Loc Phat become an affiliate of Keppel Land.

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