Apparel maker House of Pearl Fashions Ltd is to buy a 38% stake in Vietnam-based garment firm Nam Long Garment Joint Stock Co.

The acquisition is being made by its Mauritius-based subsidiary Multinational Textiles Group Ltd.

Nam Long Garment produces ready-made garments and has an annual production capacity of 3m pieces.

House of Pearl says the deal will enable it to establish a manufacturing base in Vietnam.