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Wednesday, October 5, 2022

TDC to transfer Uni Galaxy to Malaysian firm

The Saigon Times

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HCMC – Binh Duong Trade and Development JSC, which trades its TDC shares on the Hochiminh Stock Exchange, has approved a plan to transfer its Uni Galaxy townhouse project to Malaysia’s Gamuda Land at some VND1.3 trillion.

Of the total, the value of land use rights accounts for VND1.25 trillion, while the value of technical infrastructure the balance, nearly VND35 billion.

The payment will be conducted in two phases, the local media reported.

Uni Galaxy covers over 56,000 square meters of land in Hoa Phu Ward in Binh Duong Province’s Thu Dau Mot City.

In Vietnam, Gamuda Land has developed the Celadon City project covering 82 hectares in HCMC’s Tan Phu and the Gumada City project in Hanoi City.

In the first half of 2022, TDC made VND799.2 billion in revenue, up 32.7% year-on-year, and VND23.6 billion in after-tax profit, down 36% year-on-year.

This year, the firm targets some VND2.9 trillion in revenue and VND139.3 billion in after-tax profit.

Closing the trading session today, September 16, TDC gained over 1%, its second straight winning session despite the market downtrend.

Strong selling pressure on bluechips dragged the VN-Index of the HCMC bourse down 11.63 points, or 0.93%, from the session earlier, at 1,234.03, with losers outnumbering winners by 368 to 95.

Over 632 million shares worth VND15.5 trillion changed hands, up 50% in volume and 40% in value against the previous session.

Property developer KDH plunged by 4.5%, while lenders CTG and STB, and mobile phone retailer MWG lost over 2% each.

Many other bluechips such as electricity firm POW, tech stock FPT and lenders ACB, TCB and MBB finished the day down.

Farming firm HAG stood at the reference price, but took the lead by liquidity on bourse with over 32.6 million shares changing hands.

On the Hanoi bourse, many large-cap stocks were in negative territory, sending the HNX-Index down 6.81 points, or 2.43%, from the previous session, at 272.88, with 49 advancers and 152 decliners.

Securities firm SHS was the most actively traded stock on bourse with a matching volume of 10.4 million shares.

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