Indochina Capital Still Bargain Hunter in Vietnam: CEO
Peter R. Ryder, CEO of Indochina Capital Corp (ICC) told state-run Dau Tu Chung Khoan newspaper that ICC will not withdraw its cash out of Vietnam, and instead plans to raise more funds to invest in.
ICC is managing several funds totaling US$750 million in Vietnam, including London-listed Indochina Capital Vietnam Holding (ICVH) specializing in listed and unlisted shares in Vietnam.
“ICC is sitting on cash and is waiting opportunities behind the slumping market. Last year, ICC raised about US$150 million to invest into Vietnam, and that sum has not been disbursed,” Ryder said.
Prices of ICVH shares dropped and its shareholders had reviewed operations and are mulling over continued investments in Vietnam, Ryder noted.
“Our operations are normal and we have confirmed that we will stay in Vietnam,” Peter Ryder said.
ICC is in talks with Goldman Sachs and several other partners to raise funds for infrastructure projects in Vietnam. “Once Vietnam’s economy recovers, ICC is expected to mobilize US$300 million to US$500 million” for local investments, he said.
ICC is optimistic about fundamentals of Vietnam’s economy, he added. (Securities Investment)
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