Toyo Ventures has provided updates with regards to the execution of the BOT Contract with the Ministry of Industry and Trade of the Socialist Republic of Vietnam and the Government Guarantee with the Government of the Socialist Republic of Vietnam for the investment and development of “Song Hau 2 Thermal Power Plant Project” in Vietnam.
In this sense the board informs that Song Hau 2 Power Company Limited a wholly-owned subsidiary of Toyo Ink Group Berhad which in turn is a wholly-owned subsidiary of TVHB, has issued a notification letter to MOIT stating that SH2P has successfully achieved the Financial Closing Date for the Project on 28 June 2024.
The financing details is required under the BOT Contract and the subsequent extension under Decision 500/QD-TTg of the Prime Minister of Vietnam dated 15 May 2023. Tovo said it will make the necessary announcement on the progress of the project to Bursa Malaysia Securities Berhad in due course.
However, the group has yet to detail the financing value and source in its Bursa filing as of now.
