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Friday, August 12, 2022

Becamex to invest VND5.5 trillion in industrial park project

The Saigon Times

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HCMC – Investment and Industrial Development Corporation (BCM) has announced a VND5.5 trillion plan to develop the Cay Truong industrial park project in the southern province of Binh Duong.

The project will cover some 700 hectares of land encompassing parts of Cay Truong II Commune and Lai Uyen Town in Bau Bang District.

Of the total investment, VND818.95 billion, or 15%, will be backed by the company’s own budget, while the rest will come from bank loans.

Becamex will build the industrial park from 2022 to 2026 and start leasing infrastructure in the park between 2022 and 2030.

In the first quarter of this year, Becamex’s net revenue improved 2% against the same period last year to VND1.4 trillion, with most of them coming from real estate sales.

The company saw its after-tax profit down 16% year-on-year at VND391 billion.

Wrapping up the first quarter, the company has reached 14.8% of the revenue target and 13.5% of the profit target.

In 2022, Becamex looks to achieve VND9.68 trillion in revenue and VND2.88 trillion in after-tax profit, rising 19% and 98% versus the year-ago figure, respectively.

On the HCMC market, BCM closed 1.26% lower at VND62,800 today, July 15.

Despite improved liquidity, the underperformance of bluechips and the increased selling kept the VN-Index of the HCMC bourse below the 1,180-point level at the close.

With 215 winners and 233 losers, the benchmark index shed 2.92 points, or 0.258%, against the previous session at 1,179.25. Trade on the southern bourse improved nearly 13% in volume and over 19.5% in value at more than 604 million shares and VND13.1 trillion.

Similarly, the Hanoi stock exchange came under selling pressure toward the end of the session. The HNX-Index lost 0.36 points, or 0.13%, over the session earlier to end at 284.4, with 89 stocks inching up and 99 others sliding.

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