Apr 04, 2023 03:33 AM

BUSINESS

Yangzijiang Shipbuilding Buys Singapore Office Tower for $300 Million

By Yang Min, Li Rongqian and Denise Jia

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What’s new: China’s largest private shipbuilder bought an office building in Singapore for S$399 million ($300 million) from Vietnamese real estate conglomerate Van Thinh Phat Holdings Group after the group’s chairwoman was arrested for alleged bond fraud.

Yangzijiang Shipbuilding Group said in a statement March 29 that its unit Yangzijiang Realty Pte. Ltd. agreed to buy a 21-story office tower at 39 Robinson Road in Singapore from Viva Ventures Ltd., an affiliate of Thinh Phat Holdings.

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