CapitaLand, Southeast Asia’s largest property firm, announced that its wholly-owned subsidiary, Vibrant Coral Overseas Inc, has completed the acquisition of a 90 percent stake in Somerset Central TD Company Ltd (SCCL) in Vietnam.
SCCL owns a tower of an existing integrated development in Hai Phong, Vietnam, to be fitted out by CapitaLand as a 132-unit serviced apartment called Somerset Central TD Hai Phong City.
CapitaLand noted that the property will be operated by its wholly-owned unit Ascott International Management (Vietnam) Company Ltd.
Meanwhile, CapitaMalls Asia Ltd also announced that it has pumped in S$999,999 additional investment in its wholly-owned subsidiary, CMA CapitaStar Pte Ltd.
It noted that the additional capital will be used to finance the working capital requirements of CapitaStar.
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