Temasek to invest $55m into HAG’s rubber sector

images (2) Singapore-based Temasek Group and Hoang Anh Gia Lai Group Joint Stock Co (HAG) have recently signed a principle deal whereby Temasek will invest $55 million in HAG’s rubber industry.

Two signatories are discussing terms of a detailed contract which is expected to be finished in June, Vo Truong Son, HAG’s deputy general director in charge of Finance said.

In the future, Temasek will become a shareholder of Rubber Corp, one of five member corporations of HAG. Along with the $55 million investment in convertible bonds issued in August 2010 by HAG, total amount of money Temasek invested in HAG’s subsidiaries so far has been $110 million.

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