UOB Asset Management

UOB Asset Management announced yesterday that it has completed the acquisition of VAM Vietnam Fund Management Joint Stock Company, which was first reported over a year ago, in a move that will rev up its presence in Asean.

The entity will be renamed UOB Asset Management (Vietnam) Fund Management Joint Stock Company, subject to regulatory approval. It was announced in December 2019 that the Vietnam firm was acquired for a cash consideration of 113.68 billion dong (S$6.7 million).

THE BUSINESS TIMES

Boustead Projects

Mainboard-listed real estate player Boustead Projects yesterday said it has obtained its first green loan of about $130 million from United Overseas Bank to refinance Alice@Mediapolis, a smart eco-sustainable business park development.

The loan was extended to BP-Dojo, Boustead Projects' joint venture special purpose vehicle under the Boustead Development Partnership, a collaboration between Boustead Projects and the Abu Dhabi Investment Council.

BP-Dojo developed and owns Alice@Mediapolis.

THE BUSINESS TIMES

Audi

A global semiconductor shortage is forcing Audi to delay the production of some high-end cars and furlough workers, its chief executive officer told the Financial Times.

The Volkswagen brand has put more than 10,000 workers on furlough, but overall output for this year should not be affected because the company expects to make up for lost time in the second half.

VW, the world's biggest carmaker, had said last month that it could face a major production disruption in first-quarter manufacturing around the globe because of the bottleneck.

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