Thep Viet Capital, Malaysian firm sign strategic cooperation pact

Vietnam’s Thep Viet Capital on July 1 signed a strategic cooperation pact with the Inter-Pacific Capital Sdn Bhd, a subsidiary of the Malaysian Berjaya group.

Under the pact, Inter-Pacific Capital will become a large shareholder of the Thep Viet Capital in the areas of fund management, investment and business development.

Inter-Pacific Capital General Director Kuok Wee Kiat said he believes that many recent initiatives by the Vietnam Government to instill market confidence and combat inflation, and measures to maintain a stable currency and improve the overall balance of payments will succeed.

Thep Viet Capital, a leading private company in Vietnam, earned revenue of US$450 million in 2007 from steel production and distribution. Meanwhile, Berjaya has invested in five projects in Vietnam, including the project US$3.5 billion international university urban area in Hoc Mon district, Ho Chi Minh City.