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Wednesday, October 5, 2022

TDC to contribute capital to townhouse project in Haiphong

The Saigon Times

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HCMC – Binh Duong Trade and Development JSC (TDC) has passed a plan to team up with Haiphong VSIP Company to execute the Bac Song Cam townhouse project in the northern port city of Haiphong on a 50:50 footing.

The townhouse project will cover nearly 102,000 square meters, with 330 houses, in the city’s Thuy Nguyen District.

The project will cost over VND1,689 billion, meaning that each side will contribute VND844.7 billion.

Regarding its business performance in the first half, TDC posted over VND799 billion in revenue and VND23.5 billion in after-tax profit, up nearly 33% and down nearly 36% year-on-year, respectively.

On the local stock market, TDC fell 5.95% against the previous session at VND22,900 today, September 19.

The benchmark VN-Index of the Hochiminh Stock Exchange lost 28.6 points, or 2.32%, over the session earlier at 1,205.43, with 64 winners and up to 399 losers. Trade on the southern bourse improved 11% in volume and 7.71% in value versus last Friday to 702 million shares and VND16,706 billion. Shares traded in block deals accounted for more than VND1,815 billion.

The VN30 basket left a major impact on the main index’s fall as up to 27 stocks in the basket fell into negative territory. Only tech giant FPT and real estate developer VIC inched up a slight 0.5% each, while brewery firm SAB stood at its reference price.

On the Hanoi bourse, strong selling also affected the HNX-Index. It shed 8.63 points, or 3.16%, against the previous session at 264.25 points, with 51 stocks rising and 162 others declining.

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