HCMC – VinSpeed, Vingroup’s infrastructure development arm, has raised its charter capital by 36% to VND45 trillion.
The increase lifts its capital from VND33 trillion. Of the total, VND24.97 trillion, or 55.5%, is cash. The remaining VND20.03 trillion is recorded as other assets. The cash portion rose by VND2.77 trillion from the previous level, reported local media.
The move comes as parent company Vingroup said it would withdraw from the proposed North–South high-speed railway project, valued at about US$67 billion.
In a document released on December 25 and sent to the Government, Vingroup requested to cancel its investment registration for the project. The group had submitted the proposal for review in May.
Vingroup said the decision was made to focus resources on other strategic infrastructure projects assigned by the Government. It said spreading capital across multiple large projects could affect progress and execution.
The group remains involved in two other high-speed rail lines: Ben Thanh–Can Gio in southern Vietnam and Hanoi–Quang Ninh in the north.
After Vingroup’s withdrawal, three investors remain interested in the North–South project, including Truong Hai Group (Thaco).
On December 24, one day before Vingroup’s announcement, Thaco increased its charter capital by 33% to VND40.52 trillion from VND30.39 trillion, according to data from the national business registration portal.
Domestic private shareholders hold 73% of Thaco. Foreign investors own 27% through 106 entities.
Singapore-based Jardine Cycle & Carriage remains the largest foreign shareholder, holding 26.7%. Its capital contribution rose to VND10.84 trillion from VND8.13 trillion.
Under its investment proposal, Thaco said it would provide 20% of the project’s equity capital. The remaining 80% would be raised from domestic and international partners and loans. The group has said it aims to complete the full rail line within seven years.
