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Vinhomes steps up social housing construction

The Saigon Times

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HCMC – Vinhomes JSC (HOSE: VHM) is stepping up social housing construction to meet the high demand and boost its revenue this year, as outlined in its documents for the upcoming annual general meeting of shareholders for 2024.

The company has begun work on several social housing projects, including Trang Cat in January and the sales launch for the Vinhomes Royal Island project in Haiphong City in March.

Despite economic challenges, Vinhomes remains bullish on Vietnam’s real estate sector. The company has prepared solutions to navigate uncertainties and strengthen its position in the market.

In order to expand its market presence, Vinhomes plans to improve distribution channels, including via in-house sales and existing nationwide agencies, while upgrading its online business platform to enhance transparency and customer experience.

Vinhomes will convene its annual general meeting of shareholders on April 24 to seek approval for its business plan.

The company aims to achieve revenue of VND120 trillion and after-tax profit of VND35 trillion in 2024, representing respective increases of 16% and 4% compared to the previous year.

Vinhomes intends to reinvest its earnings into business activities and continue its policy of retaining dividends for the second consecutive year. The company also plans to diversify its business operations by expanding into 19 more sectors, including education, electronics-computers, and transportation, to support its various projects.

Closing the trading session today, April 3, VHM inched down by 0.12% to VND43,100 per share, with a matching volume of 11.8 million shares.

On the southern bourse, losers outnumbered winners by 368 to 130, sending the VN-Index down by 1.21% to 1,271.30 points.

The trading volume barely changed from the previous session, reaching nearly 1.1 billion shares worth more than VND27.4 trillion. Block deals contributed 81.8 million shares valued at VND2.2 trillion.

All bluechips in the VN30 basket closed down. Seven stocks, including GVR, CTG and MWG, fell by more than 2%, while 11 others lost over 1%. The VN30-Index slipped by 18.03 points, or 1.40%, to settle at 1,274.27 points.

Securities stock VIX took the lead by liquidity with over 42.4 million shares changing hands, edging down by 2.15% to VND20,500 per share.

The HNX-Index of the Hanoi Stock Exchange also inched down by 0.79% to 243.96 points. The trading volume on the northern bourse reached 123.2 million shares worth over VND2.8 trillion.

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