Lilama, SHB bank reach cooperation deal

Thursday, May 22, 2008
The Vietnam Machinery Erection Corporation, known as Lilama Corp, and the Saigon-Hanoi Commercial Joint Stock Bank (SHB) have reached an agreement on their long-term, comprehensive cooperation.

Under the agreement, signed in Hanoi on May 22, SBH will give Lilama and its subsidiaries loan priority while Lilama pledges to use the bank’s services, including international and salary payments and share and bond issuances.

The two sides also agreed to focus their cooperation in constructing power plants, trading centres and office buildings for rent.