KPMG appointed to provide advice and support to Vinashin

December 08, 2010 | 14:10

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KPMG has confirmed its appointment to provide advice and support to Vietnam Shipbuilding Industry Group (Vinashin) in relation to its $600 million facility agreement.

The team will be led by Edward Middleton, Head of Restructuring Services, KPMG Asia-Pacific and John Ditty, Head of Advisory, KPMG Vietnam.

John Ditty said of the firm’s appointment: “KPMG has a strong network of financial restructuring professionals across Asia-Pacific. The combination of KPMG’s international experience and our understanding of Vinashin and the local environment will be beneficial to all parties involved. “

He further commented that: “Some reports in the media referred to KPMG being appointed to advise on the restructuring of Vinashin however our current engagement relates specifically and only to providing advice and support with regards to the above foreign loan facility and reports that we have been engaged to assist with the overall restructuring are not correct.”

KPMG is a global network of professional firms providing Audit, Tax and Advisory services, which operate in 146countries and have 140,000 people working in member firms around the world. KPMG in Vietnam is one of the leading professional services firms, with over 800 staff working from offices in Ho Chi Minh City and Hanoi.

By Song Ngoc

vir.com.vn

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