FINWIRES · TerminalLIVE
FINWIRES

Kamigumi Increases Vietnam Subsidiary's Capital After Expanding Warehouse Plans

By

Kamigumi Co (TYO:9364) is boosting its Vietnam subsidiary's capital by 200 billion dong to 650 billion dong, making it a specified subsidiary representing over 10% of the parent's capital, according to a Tokyo bourse filing on Friday.

The move comes after the company revised its original plan from a general warehouse to include a cold storage facility, pushing projected construction costs beyond initial estimates.

The subsidiary, established in May and fully owned by Kamigumi, will now develop both a general warehouse and a cold storage warehouse at the same site in Ho Chi Minh City.

Construction is slated to begin in April 2027, with completion expected by September 2028.

What else is happening in Asia?

Asia

Media Reports: Small Aircraft Hits Citic Tower, Beijing's Tallest Skyscraper

Shanghai Composite^SZSE
Asia

China's Central Bank Plans Overnight Reverse Repo in End-June

The People's Bank of China will increase the overnight reverse repurchase operation in its open market operations on June 29 and June 30.The operation will adopt a fixed interest rate and quantity bidding, according to a Thursday statement.The new rate will be an addition to the PBOC's regular seven-day reverse repo rate, currently at 1.4%, which has served as the main policy benchmark since 2024, Bloomberg reported.Standard Chartered's Becky Liu said the move is a major step toward aligning with U.S. policy rate structures, according to the report. She added that the overnight reverse repo rate is the figure to watch and anything at 1.25% or below would amount to a de facto PBOC rate cut.

Shanghai Composite^SZSE
Asia

Hong Leong Bank Sells 640 Million Ringgit Bonds

Hong Leong Bank (KLSE:HLBANK) issued 640 million ringgit of bonds divided into two tranches, according to a Friday Malaysian bourse filing.The issue comprised 350 million ringgit of 10-year bonds carrying an interest rate of 3.9% per annum, and 290 million ringgit of 12-year bonds carrying a 4% interest rate.The call dates for the two tranches will be June 26, 2031, and June 27, 2033, respectively.The bonds were issued under the lender's multi-currency tier 2 subordinated bond program.

KLSE:HLBANK