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Financial Services Monitor Worldwide
Toyo Ventures Holdings Bhd has entered into an investment and development agreement with its wholly-owned subsidiary Toyo Ink Group Bhd (TIGB) and also China Energy Engineering Investment Corporation Ltd (CEEIC) for the development of the Song Hau 2 Thermal Power Plant project in Vietnam.
In a filing with Bursa Malaysia today, Toyo Ventures said the agreement was aimed at providing a framework for a proposed divestment of the investment holding companys equity interest in TIGB to the Chinese state-owned CEEIC.
A substantive agreement will be finalised and executed within eight months from the date of the agreement, it said, adding that the 2x1,060 megawatt coal-fired power plant is located in Hau Giang province.