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SINGAPORE: Mainboard-listed Jardine Cycle & Carriage has increased its stake in Vietnam's Truong Hai Auto Corporation (THACO) to 29.2 per cent.
JC&C had earlier on Wednesday subscribed for new shares representing a 5.8 per cent interest in the firm for US$29 million.
THACO is principally involved in the manufacture, assembly, distribution, retail, repair and maintenance of commercial and passenger vehicles in Vietnam.
The subscription was funded from JC&C's existing financial resources and is not expected to have any material impact on its net tangible assets and earnings per share for the year. - 938LIVE/vm
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