In June 2021, the Vietnam Competition and Consumer Authority received a complete and valid notification of economic concentration between VN Prosperity Pte. Ltd. and Phuoc Kien Construction Investment Joint Stock Company from VN Prosperity Pte. Ltd. and Phuoc Kien Construction Investment Joint Stock Company.

VN Prosperity Pte. Ltd. intended to buy 60 percent of Phuoc Kien Construction Investment Joint Stock Company's shares. VN Prosperity Pte. Ltd. will own 60 percent of the charter capital and control of Phuoc Kien Construction Investment Joint Stock Company after the deal is completed. As a result, under the terms of Clause 4, Article 29 of the Competition Law, the aforesaid transaction is judged to constitute an economic concentration in the form of acquisition.

Economic concentration companies are in the real estate business, specifically Phuoc Kien Construction Investment Joint Stock Company, which deals in separate houses; VN Prosperity Pte. Ltd., a company under the affiliated business group of Keppel Group (Singapore), is currently trading real estate products in Vietnam such as commercial townhouses, apartments, Grade A offices, and commercial centers.

The Ministry of Industry and Trade announced on June 30, 2021, that the economic concentration between VN Prosperity Pte. Ltd. and Phuoc Kien Construction Investment Joint Stock Company is not prohibited under Article 30 of the Competition Law and that it is permitted to carry out economic concentration procedures as prescribed in Clause 1, Article 43 of the Viet Nam Competition Law 2018.