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Amplefield Ltd Enters Into Framework Agreement With Sing Viet City Ltd

Monday, 24 Jun 2013 06:44am EDT 

Amplefield Ltd announced that it has entered into a framework agreement with Sing Viet City Ltd for development, on a joint venture basis, of certain properties in Ho Chi Minh City, Vietnam, in which the latter has an interest. Sing Viet City Ltd is a wholly owned subsidiary of Amanland Pte Ltd (formerly H.R.H. Integrated Engineering Services Pte Ltd) which in turn is 94.3% owned by Regionaland Pte Ltd, a company incorporated in the Republic of Singapore. Under the framework agreement, Amplefield Limited will incorporate a wholly owned subsidiary company with a legal paid up capital of USD1 million in Vietnam to carry out joint venture developments under separate business cooperation contracts with Sing Viet City Ltd. Among other things, Sing Viet City Ltd shall be responsible for identifying and providing suitable land parcels within the Project, designing the development plan for these land parcels that complies with local laws and for obtaining the necessary approvals from all governing and local authorities for development of the same. Amplefield Limited, through its subsidiary company in Vietnam, shall be responsible for the funding and construction of infrastructure and buildings in accordance with the approved development plan for the selected land parcels in the Project. 

Company Quote

-0.0010 -14.29%
19 Dec 2014