CSC Steel sells off stake in Vietnamese unit amid fierce competition
2020-04-23 14:18:52 [Print]
CSC Steel Holdings Bhd (CHB) is disposing of its entire 6% shareholding in CSGT Metals Vietnam Joint Stock Company for US$1.2 million, as it has not been able to secure a commanding share of the Vietnam steel market due to stiff competition from Vietnam's local manufacturers and imported steel products after the implementation of several free trade agreements.
The group said it had inked a share transfer agreement (STA) with CSGT International Corp for the disposal. It expects to complete the disposal within three months of the date of the STA.
The group said it had inked a share transfer agreement (STA) with CSGT International Corp for the disposal. It expects to complete the disposal within three months of the date of the STA.
