HK’s Sunwah to invest $100m in Vietnam, forms JV with Saigon Asset Management

SAM 7th November, 2016

Deal Street AsiaNovember 3, 2016 – Hong Kong-headquartered Sunwah Group is investing $100 million in Vietnam, as well as forming an advisory service joint venture with the local fund manager Saigon Asset Management (SAM).
The new investment is funneled through Sunwah Vietnam Investment Company (SVIC), which is a subsidiary of Sunwah Group.
Meanwhile, Sunwah Kingsway and SAM’s new joint venture will provide advisory services for both local and international enterprises in Vietnam.
The JV- Sunwah Kingsway Vietnam – will be based out of Ho Chi Minh City.
Louis Nguyen, CEO of SAM and the new JV, has been assigned as investment advisor for SVIC, which will be headed by Johnson Choi, director of Sunwah Group and general director of Sunwah Vietnam.
SAM will own 40 per cent of the JV, while the Hong Kong partner will hold the remaining 60 per cent.
“The increased global investment interest in Southeast Asia, specifically Vietnam, was the genesis of the formation of Sunwah Kingsway Vietnam,” Nguyen noted.
The JV, through its Hong Kong licensed associates, plans to offer proprietary investments as well and services in corporate finance/capital markets, private equity, real estate, fund management, and managed accounts in Hong Kong. “We have invested in excess of $1 billion here in Vietnam and have seen positive developments over our 45 years of operations in this rapidly growing country,” Choi commented. “With the latest changes in government leadership and policies, plus seeing a rising tide of investment opportunities, adding this new $100 million validates our long term commitment to Vietnam.”
SVIC will provide investment for the expansion stage of companies in sectors that are strategic to the parent group. These include food and beverage, real estate, e-commerce, media, education, healthcare, and green technology, the companies said in a statement.
“Because of the long term on-the-ground experience and conglomerate nature of Sunwah Group, we offer the flexibility to invest in a wide array of asset classes including private equity, listed equities, and real estate,” said Nguyen.
Regarding the exit strategy, SVIC said that it invests and assists companies that plan to list on the Hong Kong Stock Exchange or other international markets.
“Vietnam is currently on the cusp of entrance into the Transpacific Partnership (TPP) as well as the MSCI Emerging Market index, and incoming investors will need a local partner with strong investment as well as operational expertise. By partnering and capitalising on the investment track record of SAM, as well as increasing Sunwah Kingsway’s presence in Vietnam prior to these two significant milestones, Sunwah Kingsway Vietnam seeks to provide our clients and investors with quality deal flow opportunities and fruitful returns,” commented Michael Choi, CEO of Sunwah Kingsway.