Wednesday, June 20, 2007

Malaysia's SP Setia to Start Vietnam Project as Housing Glut Looms at Home

(Bloomberg) -- SP Setia Bhd., Malaysia's biggest
developer, will form a joint venture this year to build homes in
Vietnam's Ho Chi Minh City, targeting one of the region's
fastest-growing economies in the company's first foreign venture.

SP Setia is negotiating with a government-linked company to
build a township in Ho Chi Minh City, Executive Director Voon Tin
Yow, 49, said in an interview. The project will be similar to the
company's 3.5 billion ringgit ($1 billion), 791-acre Setia Eco
Park development near the Malaysian capital of Kuala Lumpur.


Read more at Bloomberg Emerging Markets News

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