SGX Hot Stock News: Wilmar International Establishes Vietnam Joint Venture Specializing In Condiments

SGX Hot Stock Update: Wilmar International and Saigon Union of Trading Cooperatives (Saigon center) have declared the execution of a joint endeavor contract to set up Nam Duong International Foodstuff Corporation, a constrained obligation organization to be fused in Vietnam work in the assembling of sauces and toppings for both local and fare markets.

Nam Duong International Foodstuff Corporation might attempt a venture with an aggregate speculation capital of VND577.2 billion (proportionate to US$25.6 million) to build another industrial facility in Ho Chi Minh City which will assume control over the present operations of Saigon Co-operation's plant for the production of sauces and toppings sold under the Nam Duong brand.

The gathering and Saigon Co-operation will every hold 51 percent and 49 percent stake in the joint endeavor organization individually.

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