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Thai group ups stake in local firm

Update: August, 04/2012 - 07:43

HCM CITY — Thai group SCG has increased its stake in the HCM Stock Exchange listed Binh Minh Plastic JSC (BMP), which specializes in producing plastic pipes and high tech plastic products, to 20.38 per cent from 16.73 per cent.

The deal's value was not announced.

In a press release on its Q2 performance, the company said the total asset value of SCG in Viet Nam has reached US$380 million, a year-on-year growth of 8 per cent.

Its 17 affiliates in the chemicals, paper, cement, building materials and distribution industries, posted Q2 sales revenues of US$89 million, a y-o-y increase of 15 per cent but a sharp fall from Q1's figure of US$161 million.-VNS

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