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Bamboo Capital aims for explosive growth this year

The Saigon Times

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HCMC – Bamboo Capital Group (HOSE: BCG) is eyeing an expansion this year, with plans to achieve VND6.1 trillion in consolidated revenue and VND951.7 billion in net profit, up by 280% and 556% year-on-year, respectively.

Identifying renewable energy and real estate as key growth sectors, BCG is focusing its efforts on these areas to drive its business forward.

With its subsidiary BCG Energy, the company is prioritizing offshore wind power and waste-to-energy projects. With eight onshore wind power projects totaling 925 MW in different parts of the country, BCG Energy is actively working to expedite the construction of additional wind power projects totaling 550 MW, targeting commercial operation by 2025. Moreover, the company is actively pursuing solar projects, with phase one of the Krong Pa 2 Project already completed.

In the real estate sector, BCG Land is determined to complete ongoing projects and streamline legal procedures for new ventures to commence commercial operations at the earliest possibility, contingent upon market improvements. Notably, projects such as Malibu Hoi An and Hoian d’Or are expected to contribute significantly to the company’s revenue, targeting nearly VND2.2 trillion.

The firm intends to distribute 5% of its profits as a dividend for 2023.

BCG shares ended the trading session today, April 8, up by 0.8% to VND8,800 per share, with a matching volume of 4.6 million shares.

The stock market closed in a downbeat mood as losers far outnumbered winners by 355 to 112, sending the VN-Index of the Hochiminh Stock Exchange down by 4.76 points, or 0.38%, to 1,250.35 points.

Stock trade dipped by around 19% in volume and value over the previous session, with over 876 million shares worth VND20.4 trillion changing hands. Block deals contributed 85.7 million shares valued at VND1.9 trillion.

Bank stocks played a crucial role in maintaining the VN-Index above the 1,250-point mark. BID contributed over 0.8 positive point to the benchmark index with a 1.2% increase, while other bank stocks such as TCB, MBB, LPB and CTG made marginal gains, offsetting losses from other major stocks.

However, several major stocks declined, including VRE, MWG, GAS, SAB and VNM, intensifying downward pressure on the market.

The only bright spots in the market were banking, construction materials, and other financials. These sectors recorded slight gains, while others dragged down the main index.

With 47 advancers and 121 decliners, the HNX-Index of the Hanoi Stock Exchange lost 1.6 points, or 0.67%, against the previous session, at 238.08 points.

The northern bourse saw around 79.5 million shares worth VND1.6 trillion shares change hands.

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