Li Kang-shing Investing in Vietnam Through Van Thinh Phat
Li Kang-shing is one of the leading billionaires in Asia and the world. He was born in 1928 in a poor family moved to Hong Kong when he was 12 years old.
In Vietnam, through the subsidiary, Hutchinson Ports SITV, Li Kang-shing’s CK Hutchinson has been investing in SITV port in Ba Ria-Vung Tau since 2007 until now. This container terminal provides a wide range of professional loading and unloading services with a capacity of about 80,000 MTS.
CK Hutchinson is also one of the two main shareholders of Vietnamobile, one of the rare foreign-invested mobile networks present in Vietnam since 2016 with the original name of HT Mobile.
In the retail segment, the company owns the health and beauty retailer A.S Watsons with 16,300 stores in 28 markets.
The fields that billionaire Li Kang-shing has invested in in Vietnam. Image: Realtique
At the end of fiscal year 2021, the Group achieved revenue of HKD 445 billion (equivalent to USD 56.7 billion) with profit after tax of HKD 40 billion (USD 5 billion). In the revenue structure of the group, retail (40% of total revenue) and telecommunications (21%) account for the largest proportion.
Most recently, CK Asset Holdings Limited, one of two investment funds of Li Kang-shing, has expressed its wish to cooperate with Van Thinh Phat Group to invest in Ho Chi Minh City, providing opportunities for infrastructure development of this city.
CK Assets Holdings works with Van Thinh Phat to promote investment in Vietnam
CK Asset Holdings mainly focuses on real estate business. They sell and rent properties in Hong Kong and China, and are involved in the development of hotel services. In addition, they also manage real estate investments through investment trusts in this segment (REIT). In addition to China and Hong Kong, the company also invests in infrastructure in many other countries around the world.
Among them, Vietnam is also an ideal choice of the company when recently CK Asset Holdings and Orix of Japan expressed their desire to go through Van Thinh Phat to strongly invest in the infrastructure of Ho Chi Minh City.
The company’s main investment segments include economic and social infrastructure, bringing stronger development to the city in the coming years.
In a recent meeting, CK Assets Holdings committed to invest in high-end real estate projects in Ho Chi Minh City, including office buildings, commercial centers, entertainment facilities and home business.
Other large-scale infrastructure projects will also be launched simultaneously, indicating a large amount of money will be invested in these areas soon.
This has attracted the attention of the business community. With this meeting, it seems that Mr. Li Kang-shing, after withdrawing from Europe, will choose Vietnam as his next stop.
These moves are considered consistent with a series of new projects and are located at golden addresses in Ho Chi Minh City of Viva Land, a subsidiary of Van Thinh Phat from April 2022:
- Reviving office building in District 1: IFC One Saigon
- Land lot 76 Nguyen Van Huong, Thao Dien Ward, District 2: Diamante
Diamante – 15 Million Dollar Super Vip Villas in Thao Dien of Viva Land are expected to be deployed in the near future
- Project name: Diamante
- Developer: Viva Land
- Location: Street 76 and Nguyen Van Huong Street, Thao Dien Ward, Thu Duc City, HCMC
- Project type: Villa
- Land area: 9,808m2
- Quantity: 15 villas
- Construction floor area: 8,606m2
IFC One Saigon, changing glass quickly, the facade system is expected to be completed this year
IFC One Saigon with Facade system is likened to dragon scales. It is known that the building at night, instead of using LEDs, will use artistic lights placed on the top of the triangular glass.
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