After eight years, as part of Searefico’s strategy to restructure the investment pool, the divestiture was crucial to enhance the cash flow, thus attracting more investment for technology and production, with the goal to increase revenues from production to 50 per cent of the company’s total revenues.

In 2022, Searefico plans to collect $21.7 million from divestment and capital calls. This new capital will be the foundation for the expansion of the neo-building material factories in the northern area, the development of factories for rent, and investments in machinery and technologies for high-tech production chains.

Searefico focuses on investing in production and technology

Since 2019, Searefico shifted to the holdings company model, with its parent company focusing on capital management and investing in new industries while the subsidiaries inherit the previous businesses such as EPC contractor, MEP construction, industrial refrigeration, and neo-building material production.

Through a series of firm actions for business transformation, Searefico’s stock increased by nearly 30 per cent on the market this year, promising continuous stable growth in the near future.

Investment in Renewable Energy

Just a few days before the divestment, on March 17, Searefico signed an MoU with Shire Oak International, marking a milestone on the business’ pivoting roadmap and enlarging the company’s proportion of investment and profits in production and technology.

According to the agreement, Shire Oak promises to spend $50 million with Searefico in cooperation to develop renewable energy systems, including factories’ roof-top solar panels, onshore and offshore wind farms, electricity distribution and storage networks.

Through this cooperation, Searefico will benefit from being both the investor and providing EPC contractor services through the two subsidiaries Searefico Engineering and Construction JSC and Phoenix Energy & Automation JSC.

Furthermore, Shire Oak also offers Searefico training on green solutions through their team of veteran professionals with more than 20 years of experience in the renewable energy industry.

Searefico and Shire Oak also intend to develop rooftop solar projects on industrial buildings, some of which are already existing or under construction, as well as on- and offshore wind farm projects that are in late-stage or final stage of development.

At the signing ceremony, Le Tan Phuoc, chairman of Searefico, emphasised that the company’s coordination of sustainable development will not only promote bilateral growth and create more jobs but also be solid proof of the commitment to create a better world through collaboration and partnership in green activities, reducing the carbon footprint, and de-escalating negative impacts on the environment.

Regarding Searefico, Mark Shorrock, CEO at Shire Oak shared, “It is wonderful to see the potential cooperation between Searefico and Shire Oak. I understand that Searefico empowers its people to make a positive change under the principles of sustainable development on a constant basis. In addition, giving back to society is also in Searefico’s DNA. Apart from the profits, I want to address the positive impact we can have together on Vietnam, Asia, and the world.”