Sao Mai Group organized a ceremony in HCMC on June 26, 2024, to sign a syndicated facility agreement on a loan of up to US$80 million” with First Commercial Bank.
The event was attended by Malcolm Wang, vice president of First Commercial Bank (headquarters), Li Pao Yuan, CEO of First Commercial Bank-HCMC Branch, Aaron Yang, representative of SinoPac Bank-HCMC Branch, along with representatives from other banks such as the Export-Import Bank of the Republic of China, Taiwan Business Bank, Branch in Taiwan, Chang Hwa Commercial Bank, Branch in Taiwan, and Bank of Taiwan, Branch in Hong Kong.
Sao Mai Group’s representatives joining the event included Le Thanh Thuan, chairman of the Founding & Development Council, Le Tuan Anh, CEO of Sao Mai Group, and 100 delegates who are partners, customers, employees of Sao Mai Group and First Commercial Bank.
Under the cooperation agreement, First Commercial Bank will serve as the lead manager for the syndicated loan of up to US$80 million for Sao Mai Group. This aims to ensure stable financial resources for the group’s business activities in various sectors such as construction, agriculture, seafood processing, labor export, and tourism, particularly renewable energy with a focus on solar and wind power.
Malcolm Wang, vice president of First Commercial Bank (headquarters), said, “First Commercial Bank would like to extend great thanks to Sao Mai Group for their trust in our bank to arrange funding for the group’s projects, totaling up to US$80 million, which is 1.56 times higher than the initial plan of US$50 million. This also demonstrates that the First Commercial Bank’s team has shown full confidence in Sao Mai Group’s development. In addition to providing financial services and products to the group, First Commercial Bank also hopes to collaborate with Sao Mai Group to offer additional credit packages such as personal financial services for employees, trade connection services.” Malcolm Wang believed that this collaboration will bring optimal benefits to customers and employees of both parties.
Speaking at the signing ceremony, Le Tuan Anh, CEO of Sao Mai Group, emphasized, “That Sao Mai Group has successfully borrowed around US$80 million from leading financial organizations like First Commercial Bank demonstrates the trust that major financial organizations have placed on Sao Mai Group’s solid business foundation. This serves as a motivation for the group to further expand market share, enhance competitiveness, and further penetrate international markets.
“This becomes not only a significant milestone, marking a new step in the comprehensive cooperation, elevating the bilateral relationship to a strategic level, but also promising to open up a bright future with many development opportunities for Sao Mai Group.”
The combination of strengths in addition to mutual support in all aspects will pave the way for the two brands to continue their successful business journey. Sao Mai Group commits to utilize funding flexibly, creatively, and responsibly to drive business strategies and create unique values. In doing so, the efficiency of each party’s operations will be elevated, contributing to creating positive impacts on the community and society.
