On October 16, the North Hanoi Smart City Development Investment Joint Stock Company (NH Smart City) announced information about changes in business registration content. This enterprise is the investor of the North Hanoi Smart City project, headquartered in Hanoi. This unit said it increased its charter capital from VND3,538 billion to VND14,260 billion, a four-fold increase.
This enterprise is a joint venture between Japan's Sumitomo Corporation and BRG Group. After the capital increase, Sumitomo still holds 50% of the charter capital, equivalent to VND7,130 billion.
Notice of change in business registration content of North Hanoi Smart City Development Investment Joint Stock Company (Source: National portal on business establishment).
The current legal representatives of the company are Mr. Eita Fujikawa (Chairman of the Board of Directors) and Ms. Nguyen Thi Nga (General Director). Mr. Eita Fujikawa is Chairman and General Director of Sumitomo Corporation Vietnam and Ms. Nguyen Thi Nga is Chairwoman of BRG Group.
After changing the business registration content, Smart City Bank's charter capital is only lower than Vinhomes Joint Stock Company (nearly 43,544 billion VND), No Va Real Estate Investment Group Joint Stock Company (19,501 billion VND), surpassing Khang Dien House Joint Stock Company (7,993 billion VND), Phat Dat Real Estate Development Joint Stock Company (6,716 billion VND)...
According to information from the BRG Group website, the North Hanoi Smart City project has a total investment of 4.2 billion USD, a scale of nearly 300 hectares divided into 5 phases.
In June 2018, BRG and Sumitomo were officially granted investment certificates at an investment conference in Hanoi. In October 2019, the investor held a groundbreaking ceremony for the project, however, the project was not implemented further because the 1/500 detailed planning had to be adjusted.
In July, the Hanoi People's Committee issued a Decision approving the local adjustment of the 1/500 scale detailed planning on both sides of Nhat Tan - Noi Bai route (section 3) of the Smart City construction investment project area, phase 1 and phase 2, in Dong Anh district, to the North Hanoi Smart City Development Investment Joint Stock Company.
The capital increase shows the company's preparation to build the first phase of the project. The company is expected to start construction of the financial center tower (Phuong Trach Tower) on November 10. The total area of the land is 272 hectares. The construction area is 172 hectares. The expected construction density is 45%.
With 108 floors, this tower is expected to be the tallest in Southeast Asia with about 7,000 apartments to be built.
The 2020 prospectus of Southeast Asia Commercial Joint Stock Bank (SeABank - stock code: SSB) said that Ms. Nguyen Thi Nga was born in 1955. She is a bachelor of economics - National Economics University.
After graduating from university in 1991, Ms. Nga was self-employed until 1993 when she founded BRG Group with the import-export business. Currently, the group focuses on real estate (hotels) and retail. From 1998 to 2018, Ms. Nga was Chairwoman of the Board of Directors of many joint stock commercial banks and is currently Vice Chairwoman of the Board of Directors of Southeast Asia Commercial Joint Stock Bank.
As of November 10, this female billionaire owns assets of about 5,566 billion VND from representing the ownership of SSB, TSJ, and VEA stocks.
Sumitomo Group is the developer of Thang Long Industrial Park (Hanoi), Thang Long Industrial Park 2 (Hung Yen province), general contractor for the construction of the elevated section of Ho Chi Minh City's urban railway line No. 1 (Ben Thanh - Suoi Tien), general contractor for the construction of Pha Lai thermal power plant, Duyen Hai 3 expansion,...
In the financial sector, the group stands out with the $1.4 billion deal to buy 49% of FE Credit shares from Vietnam Prosperity Joint Stock Commercial Bank. This unit also invested in the insurance sector through M&A between Sumitomo Life and Bao Viet Insurance.
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