Berjaya keeps investing into Vietlott despite ailing real estate operationsDespite its failed businesses in the Vietnamese real estate market, Malaysia-based Berjaya Group has committed to invest more in Vietlott to help the firm achieve an annual turnover of VND13 trillion ($572.6 million) and reach a growth rate of 20 per cent per year. Additionally, in 2025-2034, the Malaysian partner will help Vietlott achieve a total turnover of VND258.513 trillion ($11.3 billion) and VND59.398 trillion ($2.6 billion) to pay to the state budget. On the other hand, despite the huge financial support, Berjaya is facing difficulties in the Vietnamese property market. Later that year, Berjaya Group was threatened to have the Vietnam International University Township (VIUT) project withdrawn for slow progress. Mai also said the project needs extensive land area and high investment capital, but the capacity to disburse registered investment capital is very low.

Source: VietNamNet News March 29, 2018 06:56 UTC