SAO MAI GROUP (ASM) SIGNING SYNDICATION AGREEMENT ON FINANCING CLEAN ENERGY DEVELOPMENT

Sao Mai Group (ASM) signed a financing agreement worth over 400 billion VND with a consortium of banks in An Giang province on October 27, 2023.

The syndication includes China Construction Bank Corporation - Ho Chi Minh City Branch (CCB.HCM), First Commercial Bank - Ho Chi Minh City Branch, Shinhan Bank Vietnam Limited - North Saigon Branch, the Shanghai Commercial & Savings Bank Ltd - Dong Nai Branch, and Sinopac Bank - Ho Chi Minh City Branch. In addition, Sao Mai Group signed a strategic cooperation agreement with CCB-HCM to promote the funding arrangement of about US$100 million for the former’s projects. The two sides also strengthened comprehensive cooperation on CCB-Match Plus service (connected with global CCB customer trade).

Speaking at the signing ceremony, Mr. Le Tuan Anh, General Director of Sao Mai Group, emphasized: “The syndication of banks will be the foundation to create new growth momentum for Sao Mai Group. At the same time, it demonstrates that the two sides are committed to working closely together in many activities and projects that the group will carry out in all fields.” For Sao Mai, renewable energy is one of the very important areas that it has constantly researched and developed more wind power plants, solar power plants and biomass power plants to increase total clean electricity output to gigawatt as planned.

Mr. Huang Guo Yong, General Director of CCB-HCM pins high hopes on long-term strategies with Sao Mai Group

The signing ceremony of the Strategic Cooperation Agreement between Sao Mai Group and CCB-HCM Bank

With many flexible credit mechanisms in place, the consortium of these banks will facilitate and support Sao Mai Group in strengthening its financial capacity to activate more important projects such as real estate, construction, farming, seafood processing, renewable energy and labor export. Especially, eco-tourism, health care and wellness travel are forecast by the World Tourism Organization as one of six tourism trends that will thrive in the future.

Sao Mai Group leaders and bank leaders in a group photo shooting

The cooperation ties between banks led by China Construction Bank Corporation - Ho Chi Minh City Branch and promised by Sao Mai Group will open up new opportunities and bring great and sustainable values to both sides and to Vietnam. Their commitments at the signing ceremony are positive information for shareholders and other partners, showing that Sao Mai Group is gradually developing, integrating and expanding many investment activities to reach the world.