( CafeF) – During the 5-year strategic period, Searee Refrigeration Electrical Engineering Corporation (Searee) aims to expand its floor area for rent by an additional 50,000 m² and carry out an IPO.
Recently, Searee Refrigeration Electrical Engineering Corporation (Searee), a member of the Searefico ecosystem (HOSE: SRF), launched a series of key initiatives in Da Nang, including attracting strategic investment capital, securing medium-term financing, and resuming operations at its mechanical manufacturing plant.
In the context of Da Nang being officially approved to establish a Free Trade Zone under Decision No. 1142/QĐ-TTg by the Prime Minister, Searee also inaugurated a new production line for air ducts and accessories under the Thanh Xuan brand at the Searee Mechanical Plant. This activity marks the completion of Searee’s business model built on three core pillars: manufacturing, trading, and services.
On the same day, Searee signed a Share Subscription Agreement (SSA) with Taisei Oncho Vietnam (TOVH), along with a Shareholders’ Agreement (SHA) among three parties: Searee, Searefico E&C, and TOVH. Through the SSA, Taisei Oncho Vietnam officially became a direct equity investor in Searee to jointly develop the Searee Industrial Building (SIB) project in Da Nang. Under the SHA, Taisei Oncho Vietnam, Searefico E&C, and Searee agreed on a transparent and efficient cooperation, governance, and operation framework, aiming for a long-term and sustainable partnership.
In the event, Mr. Phan Dinh Vinh, Director of Searee and Vice Director of Searefico E&C stated: “The signing of the SSA and SHA not only reflects the consensus and trust among the shareholders, but also lays the foundation for a professional governance model, ensuring that capital is used transparently and effectively for its intended purpose, while fulfilling the commitments made to deliver maximum benefits to all stakeholders and contribute positively to overall development.”
Mr. Nguyen Khoa Dang, CEO of Searefico Corp and Chairman of the BOD of Searee, shared: “As part of our five-year strategy (2023–2028), Searee aims to expand an additional 50,000 m² of floor area for rent and pursue an IPO. We are confident that Taisei Oncho Vietnam will continue to accompany Searee on this journey, not only as a financial investor but also as a long-term strategic partner.”
Also at the event, Searee received a medium-term credit facility from Techcombank representatives, bringing the total capital mobilized from the recent agreement.
The additional resources will enable Searee to accelerate the construction of the Searee Industrial Building (SIB) at Hoa Khanh Industrial Park, which is scheduled to commence operations in January 2026. As one of the first high-rise industrial projects in Hoa Khanh, the building is designed to optimize land use with five above-ground floors, one semi-basement, and a total height of 28 meters. The SIB is a modern facility built to LEED and FM-approved standards, meeting stringent construction requirements, particularly for FDI projects with a focus on sustainability.
Alongside the series of initiatives at Searee, members of the Searefico ecosystem are actively advancing existing projects and releasing accumulated backlogs. In the first half of 2025, the total released backlog is estimated at nearly VND 1,400 billion, a notable figure given the ongoing volatility in the construction and building materials market.
The close coordination among ecosystem members is generating a positive ripple effect, shifting from isolated operations toward a value chain approach. This is regarded as a key strategy for Searefico to strengthen internal capabilities and enhance competitiveness.
The developments at Searee, combined with the operational efficiency of other ecosystem members, signal a promising outlook for the Searefico ecosystem in the first half of 2025. Timely mobilization of resources and a clearly defined collaborative model provide a solid foundation for sustainable growth in the coming period.
Source: CafeF
