Gamuda Land secures VND3,750 billion loan for Eaton Park project
Gamuda Land will use the loan to invest in a luxury real estate project in Ho Chi Minh City.
Days after Singapore began a probe into the deal between Grab and Uber under anti-competition scrutiny, the Philippines and Malaysia said that they will look into it on similar concerns.
According to a statement of Philippine Competition Commission (PCC) qouted by Reuters, “the Grab - Uber acquisition is likely to have a far-reaching impact on the riding public and the transportation services. As such, the PCC is looking at the deal closely.”
PCC said the acquisition will put Grab in a virtual monopoly in the ride-sharing market and it will determine whether this deal substantially reduces competition.
Malaysia also said that it will monitor Grab for possible anti-competitive behavior.
In “Philippines, Malaysia put Uber-Grab deal under anti-competition scrutiny” article published by Reuters, government minister Nancy Shukri whose portfolio oversees the public transport licensing authority in Malaysia said that “We won’t take it lightly. We will monitor this because it is still early days and we don’t know what will happen next. If there is any anti-competitive behavior, the Competition Act will come into force”.
On March 26, Uber agreed to sell its Southeast Asian operations to Grab and in return, it will get a 27.5 percent stake in Grab and its chief executive officer will join the board of Grab in Singapore.
In a statement, Grab’s CEO Anthony Tan emphasized that the deal between this company and Uber marks the beginning of a new era.
However, Grab seems to be struggling with this acquisition. A few days ago, the Competition Commission of Singapore began an investigation into this deal and proposed interim measures that will require Uber and Grab to maintain their pre-transaction independent pricing.
Gamuda Land will use the loan to invest in a luxury real estate project in Ho Chi Minh City.
Amid global economic volatility, WHA Group has rapidly rolled out multiple expansion projects in Vietnam, signaling its strategic focus on the country.
Hai Phong Port JSC. has inaugurated international container terminals No. 3 and 4 at Lach Huyen, raising its throughput capacity to 3.5 million TEUs per year.
Hoang Huy expects revenue to exceed VND4 trillion and post-tax profit to reach up to VND2 trillion in fiscal year 2025-2026, targeting annual growth of over 30% for the next five years.
Cen Land is shifting from brokerage to development, targeting a 170% revenue increase and 424% profit growth in 2025.
Menas Group has entered a strategic partnership with Keppel to co-develop an integrated ecosystem of lifestyle services across Keppel’s real estate projects in Vietnam, beginning with the landmark Celesta City development in Saigon South.