Vietnam Financial News

Advertisements

Random Post

• PM orders review of bank anti-risk rules
• International seminar on cashew trade in Binh Phuoc
• In era of power cuts, even used electric generators are dear
• Stock market’s recovery period begins
• Vietinbank To Raise Charter Capital By 35%
• Business associations need closer ties with State

Vietnam Financial News

Vietnam Business » Vietnam Financial News » Hoang Anh Gia Lai Group set higher turnover and profit figures for 2010

Hoang Anh Gia Lai Group set higher turnover and profit figures for 2010

Shareholders of the HCM City-listed Hoang Anh Gia Lai Group, which has interests in property, hydropower development and rubber farming, have approved the managements plans to set higher turnover and profit figures for this year.

At its annual shareholders meeting last Friday, the company announced it targeted a net profit of VND2.01 trillion (US$104.6 million) on a turnover of VND5.76 trillion, up 56 per cent and 25 per cent respectively from last year.

This year, the group will begin work on three new apartments projects in HCM City that will have more than 1,500 units - Hoang Anh Incomex, the second phase of Phu Hoang Anh, and Hoang Anh Tan Phu - and continue work on seven others that are already under way.

It will also begin construction of a 165,000-sq.m office block-shopping mall in the city, according to chairman Doan Nguyen Duc.

In other plans, the company will plant 12,000ha of rubber trees in Viet Nam, Laos and Cambodia this year, targeting to plant 51,000ha of rubber in the three countries by 2012. It had completed planting on 12,000ha by the end of last year.

Two of HAGLs hydropower plants, each with a capacity of 42MW, are expected to go on stream in the second quarter while work will begin on three others.

Shareholders also approved the payment of 10-per-cent cash dividends for 2009 and an issue of bonus shares at the rate of two shares for every share owned.

This year the company will also convert 1.45 million convertible bonds it issued last October into common shares.

Vietnam Business And Financial News Network. Source [english.vietnamnet.vn]

More Vietnam Financial News:

• Vietnam Ministry of Finance has ordered petrol retailers not to increase petrol and oil prices
• Vietnam banks increase US dollar interest rate
• IMF forecasts 8 percent GDP for Vietnam
• Vietnam March CPI seen up 0.5-0.6 percent from February
• HCMC Social Insurance recalls 41b dong
• Promising year for ATR, especially in South East Asia
• Bao Viet to sell travel insurance on HSBCs website
• Fitch Vietnam outlook shift is hasty
• Vietnam Finance ministry calls halt to fuel price hikes
• Capital honours excellent rural businesspeople

Popular Vietnam Business News

Vietcombank H1 Pretax Profit of VND2,450B Meets 75 per cent of Year's Target

The Joint Stock Bank for Foreign Trade of Vietnam (VCB) made pretax profit of VND2,450 billion in the first half this year, fulfilling 75 per cent of its yearly target,

Bank For Agricultural Of Ho Chi Minh City

These are some of the leading stories in the official Vietnamese press on Tuesday. Reuters has not verified these stories. -- Partly private Dong A Bank said it made a

PetroVietnam Asked to Rebuild Financial Plan for Dung Quat Refinery

The US$3.1-billion refinery has to date produced gasoline A92, kerosene, diesel oil, and liquefied petroleum gas (LPG) for the market. The plant had sold a total of 5,630 tons of

Sheraton set for Nha Trang market entry

The Sheraton Nha Trang, located in the central coastal city of Khanh Hoa Province, will host its soft opening on March 19 to welcome both business and leisure travellers. The

Dana - Italy Steel JSC applies for listing shares on northern bourse

Hanoi Stock Exchange (HNX) announced to receive application profile for listing 15 million shares of Dana - Italy Steel Joint Stock Co on March 19, 2010. The company with chartered

Low-income Apartment Segment Attracts Investors

While the apartment block segment has not yet seen recovery; low-cost houses are attracting speculators attention, which has helped to form a sudden price hike in realty in the west

Vietnam garment exports set to rise as industry holds line on prices

Viet Nams garment industry has a worldwide reputation for making competitively priced and high quality garments, a survey conducted by the US-based non-profit group Kearny Alliance has found.

Vienam eeal estate developers race to build skyscrapers

Thirty-seven, sixty-eight, seventy, even 102 storeys - in Hanoi and Ho Chi Minh City, bigger and bigger buildings are reshaping the skyline. Most skyscraper projects have been developed by heavyweights

Advertisement