A building of Hoang Anh Gia Lai Group in Vietnam

Licence 61/BKH – DTRNN, which gives Hoang Anh Development (Hoang Anh Gia Lai Group) permission to invest in property trading in Thailand, has been lately signed by Vo Hong Phuc, Minister of Planning and Investment.

Accordingly, a joint venture, Hoang Anh Gia Lai Bangkok Co. Ltd, will be established in Thailand to carry out a project called HAGL Bangkok Apartments at a cost of 20.4 million USD. It is projected that the project will be started in October 2007 and completed in December 2008.

A former player on the Hoang Anh Gia Lai football club, Kiatisak, has been appointed as executive director of Hoang Anh Gia Lai Bangkok Co. Ltd.

The group has so far teamed up with nine strategic investors, namely Jacca Investment Fund, Vietcombank Fund Management Company, SSI Securities Company, Dragon Capital Fund, Thanh Viet Investment Fund, SBS Securities Company, Sacombank, Quan Dat Aluminum Company and Cuu Long Steel Company, who hold 25% of its 1,037 billion VND chartered capital.

Source: TP

Translated by Hoang Anh