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Friday, June 14, 2024

Hoa Binh Construction wins bids for five projects in Kenya

The Saigon Times

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HCMC – Hoa Binh Construction Group, whose HBC shares are traded on the Hochiminh Stock Exchange, has won bidding packages to develop five social housing projects worth US$72 million in Kenya.

With a total of 3,400 apartment units, the five projects aim to provide accommodation for the police, military forces, and students of the Technical University of Kenya.

Hoa Binh Construction will serve as a main contractor responsible for both the design and construction of housing and infrastructure systems for the projects.

Regarding its business performance, the group recorded revenue of VND7.5 trillion in 2023, down 47% against the previous year, and incurred a financial loss of VND778 billion.

In 2024, the group has set a target of achieving revenue of VND10.8 trillion and after-tax profit of VND433 billion.

Closing the trading session today, February 20, HBC rose by 5% day-on-day to VND9,030 per share, with nearly 5.3 million shares changing hands.

The VN-Index of the Hochiminh Stock Exchange added 5.09 points, or 0.42%, against yesterday’s session, closing at 1,230.06 points with 245 stocks advancing and 231 others declining.

Nearly 940 million shares worth VND21.2 trillion changed hands on the southern bourse, down by 10% and 15% day-on-day, respectively. There were more than 96.1 million shares traded in block deals, valued at nearly VND2.19 trillion.

VRE and VIC stood out as the market drivers. VRE rose by 6.03% with a trading volume of 25.1 million shares, whereas VIC shares advanced by 3.2%, with nearly nine million shares changing hands.

VIX saw the highest trading volume on the southern market, with more than 49.4 million shares traded.

With 75 winners and 83 losers, the HNX-Index of the Hanoi Stock Exchange moved sideways at 233.5 points, an uptick of merely 0.13 point against yesterday’s session. There were over 95.8 million shares worth VND1.7 trillion changing hands on the northern bourse.

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