Wednesday, March 29, 2023 11:57:33 PM - Markets open
VN-INDEX 1,056.33 +2.04/+0.19%
HNX-INDEX 205.59 -0.17/-0.08%
UPCOM-INDEX 76.73 +1.15/+1.52%
GVR: Looks to boost industrial zone development
Vietnam News - 7/7/2021 4:25:13 PM
 (0 ratings. You must sign in to rate.)
The Việt Nam Rubber Group (GVR) targets to earn revenue and profit of VNĐ26.9 trillion (US$1.17 billion) and VNĐ4.56 trillion this year, respectively.
It plans to spend VNĐ2.4 trillion to pay 2020's dividend at a rate of 6 per cent.
This year, the company plans to spend about VNĐ2.63 trillion on investment, of which about VNĐ578 billion is invested in basic construction projects and the remaining VNĐ2.05 trillion is for long-term financial investment.
The information was released at the annual general meeting of shareholders held late June.
Responding to shareholders about the roadmap for land conversion in the near future, the management board said that GVR’s main area in the 2021-2025 period will be industrial zone development, which is expected to bring more benefits and profits for the group.
GVR will also continue the traditional business of exploiting and selling rubber latex and processing and manufacturing industrial wood products.
In the long term, the conversion of rubber plantation land into industrial parks can help GVR become one of the largest industrial developers in the Southern region besides Becamex, Tín Nghĩa, Sonadezi and VSIP.
Speaking with shareholders about this new segment, the management board said that the advantage of GVR was owning an abundant rubber land fund, mainly in the provinces of Đồng Nai and Bình Dương, while the land fund for industrial parks in these areas is inadequate.
It is estimated that the area for lease of industrial land is expected to achieve a 5-year annual compound growth rate (CAGR) of 17 per cent, while the current main business of GVR - rubber latex production - only achieves a 5-year CAGR of 3.6 per cent.
GVR will also sell about 2,686 hectares of industrial land in the next five years, an increase of 76 per cent compared to the total sales of industrial land in the 2016-2020 period.
By the end of 2020, GVR had managed a domestic rubber area of ​​roughly 87,000 hectares.
Last year, the industrial zone segment contributes VNĐ1.52 trillion in revenue and VNĐ821 billion in profit. — VNS
Read original article here
Newer News
29/01 Viettel named most valuable telecoms brand in Southeast Asia
12/10 VIB: VIB's pre-tax profit up 46% in nine months
11/09 PV GAS affiliate opens LPG extraction, filling station in Khanh Hoa
19/08 GEG: Japanese firm buys 35.1 per cent stake in Việt Nam’s power company
18/11 TAR: Can Tho company to export 15,000 tonnes of rice to RoK​
09/11 French expert pins high hope on foreign companies’ prospects in Vietnam
15/10 FLC: Bamboo Airways opens Hà Nội-Điện Biên route
08/09 HAG: shares continue to trade under supervision of HoSE
16/08 VPB: VPBank's charter capital to reach $3.3 billion by 2022
15/07 HVN: Vietnam Airlines to raise over $346 million through share issuance
Older News
07/07 HVN: Vietnam Airlines signs 173.7-mln-USD credit deal with three banks
05/07 HVN: Vietnam Airlines, SeABank sign 2-trillion-VND credit contract
29/06 VIC: Car maker VinFast to expand dealership network to Laos
02/06 POW: POW faces risk of being kicked out of VN30-Index
23/02 KDC: KIDO Group aims for profit of 800 billion VND in 2021
13/01 HNG: HAGL Agrico shareholders approve new development strategy
08/01 BSR: Binh Son Refining and Petrochemical eyes 37.45 million USD in after-tax profits
08/01 HPG: Hoa Phat Group’s steel output surpasses 5 million tonnes for first time
19/12 ACV to invest more than $4.3 billion in Long Thành Int’l Airport
19/11 BDC: Nghị quyết Đại hội đồng cổ đông bất thường năm 2019
Newsletter Signup
Top Stories
VN-Index extends its long winning streak
Steel price rises despite falling demand
Central bank makes first rate cut since 2020 to support economic growth
Domestic investors open less than 100,000 new accounts in the first 2 months
MSN: Masan secures up to $650m syndicated loan, redeems $126.3m bonds
Market Update
Last updated at 3:05:02 PM
VN-INDEX 1,056.33 +2.04/+0.19%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.