W&B Vietnam Subsidiary Invests Over VND 315.5 Billion to Acquire Land Use Rights

ASEAN Financial Report (Total of 300 Articles)

Stay ahead of the New Southbound Policy and monitor the economic pulse of ASEAN. CNA's 'Southeast Asia Financial Information Portal' delivers curated financial headlines daily from Thailand, Vietnam, Indonesia, Malaysia, and the Philippines. Whether it's government policy changes, industry trends, or investment opportunities, stay informed with real-time insights to understand markets and seize business opportunities.

(Taipei, 17th) Wai Bao announced on behalf of its Vietnamese subsidiary, W&B PRECISION TECHNOLOGY (VIETNAM) COMPANY LIMITED, that the board of directors has resolved to invest VND 315.498 billion (approximately NT$378 million) to acquire land use rights in Yen Phong District, Bac Ninh Province, Vietnam, in response to future operational development, business needs, and production capacity expansion.

The land use rights acquired by Wai Bao's Vietnamese subsidiary will be valid until January 22, 2069, covering an area of 65,280 square meters. The counterparty in the transaction is VSIP BAC NINH CO., LTD.

Additionally, Wai Bao's board has approved a cash capital increase of USD 9 million (approximately NT$284.21 million) to W&B PRECISION TECHNOLOGY (VIETNAM) COMPANY LIMITED. Including this transaction, Wai Bao's total investment in the subsidiary reaches USD 22 million, with a 100% ownership stake. 1150617

Choose to stand with the facts. Your support is the force that protects press freedom.

Download the CNA 'First-Hand News' app to instantly receive the latest updates.

Text, images, and videos on this website may not be reproduced, broadcast, transmitted, or utilized without authorization.