Investment
Singapore's wealth fund GIC invests nearly US$1.3 billion in Vietnam
VinHomes is GIC`s largest investment to date with the current market value of VND15 trillion (US$639.25 million), followed by Masan with VND6 trillion (US$255.7 million) and Vietjet Air with VND3.7 trillion (US$157.68 million).
With investment portfolio of nearly VND30 trillion (US$1.3 billion) in Vietnam, Singapore's sovereign wealth fund GIC is one of the largest investors in the country, along with Dragon Capital, VinaCapital and Korea Investment Management (KIM).
On October 5, GIC, through its subsidiary Ardolis Investment, bought roughly half of US-based KKR & Co.'s 4.7% stake worth around US$100 million in Masan, one of the three largest privately-run conglomerates in Vietnam in terms of market capitalization. After the deal, GIC holds a total of 75.7 million shares or a 6.5% stake in Masan.
An investment in Masan will join GIC purchases in Vietnam's airlines, banking and real estate industries. GIC Chief Executive Officer Lim Chow Kiat said last month that he saw potential opportunities in emerging markets, which are experiencing "idiosyncratic" rather than "systemic" challenges, according to Bloomberg.
Additionally, GIC also holds stakes in VinHomes (5.74%), Vietjet Air (5%), Vinamilk (0.7%), FPT (3.5%), Pan Group, Vinasun and others. Among them, VinHomes is its largest investment to date with the current market value of VND15 trillion (US$639.25 million), followed by Masan VND6 trillion (US$255.7 million) and Vietjet Air VND3.7 trillion (US$157.68 million).
In 2015, GIC reportedly acquired a 10% stake in Vietnam's leading technology firm VNG for US$100 million, implying the valuation of the latter at US$1 billion.
Established in 1981 to manage Singapore's foreign reserves, GIC is a global long-term investor with over US$100 billion in assets in over 40 countries worldwide.
In addition to GIC, the Singaporean government also owns another investment fund in the name of Temasek Holding with assets of US$200 billion.
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An investment in Masan will join GIC purchases in Vietnam's airlines, banking and real estate industries. GIC Chief Executive Officer Lim Chow Kiat said last month that he saw potential opportunities in emerging markets, which are experiencing "idiosyncratic" rather than "systemic" challenges, according to Bloomberg.
Additionally, GIC also holds stakes in VinHomes (5.74%), Vietjet Air (5%), Vinamilk (0.7%), FPT (3.5%), Pan Group, Vinasun and others. Among them, VinHomes is its largest investment to date with the current market value of VND15 trillion (US$639.25 million), followed by Masan VND6 trillion (US$255.7 million) and Vietjet Air VND3.7 trillion (US$157.68 million).
In 2015, GIC reportedly acquired a 10% stake in Vietnam's leading technology firm VNG for US$100 million, implying the valuation of the latter at US$1 billion.
Established in 1981 to manage Singapore's foreign reserves, GIC is a global long-term investor with over US$100 billion in assets in over 40 countries worldwide.
In addition to GIC, the Singaporean government also owns another investment fund in the name of Temasek Holding with assets of US$200 billion.
