SINGAPORE (Nov 21): Sembcorp Industries through its wholly-owned subsidiary, Sembcorp Development, is increasing its interest in Vietnam Singapore Industrial Park (VSIP) to 96.6% from 92.9% previously.

VSIP represents the Singapore consortium which holds a 51% stake in Vietnam Singapore Industrial Park Joint Venture, the developer of the Vietnam Singapore Industrial Park projects in Vietnam.

The group acquired the shares from a minority shareholder for a consideration of US$6.9 million ($9.4 million).

The acquisition is expected to be completed by end November and will be funded internally.

Shares in Sembcorp closed at $3.06 on Tuesday.