Ho Chi Minh City Stock Exchange (HoSE) has announced to receive the registration dossier for listing 25 million stocks of Hung Thinh Incons Joint Stock Company, a member unit of Hung Thinh Corp.
Thien Nam Apartment - One of the projects implemented by Hung Thinh Incons
Hung Thinh Incons Joint Stock Company, a subsidiary of Hung Thinh Real Estate Business Investment Corporation (Hung Thinh Corp), plays an important role in the system of Hung Thinh Corporation's member companies and is Construction units of Hung Thinh Corporation’s projects.
Hung Thinh Icons had charter capital of VND 250 billion and started operating in 2007, with main areas of investment, design and construction. Mr. Nguyen Dinh Trung, Chairman of BOD of Hung Thinh Corp and Chairman of BOD of Hung Thinh Incons.
Since 2009 Hung Thinh Incons has started to contract apartment projects, the company has used traditional construction methods in flexible combination with modern construction methods to ensure both progress and quality of the project. In particular, Thien Nam Apartment with 10 floors and 50 apartments in Thanh Thai Street, District 10, Ho Chi Minh City is the first product which is typical of being general constructor of the Company.
Many years ago, when the Top - down construction technique (technique allows both construction of basements and foundations of the building, and the construction of a limited number of floors of the upper body) was unfamiliar for Vietnam, Hung Thinh Incons has applied to its construction process.
After 10 years of development, by the end of 2017, the company achieved consolidated revenue of VND 2,701 billion, profit after-tax of VND 109.7 billion. Total assets of the company reached VND 3,861 billion, liabilities accounted for VND 3,383 billion.
Source: Documents for the Hung Thinh Incons’ 2018 Annual General Meeting
Previously, Hung Thinh Incons’ 2017 Extraordinary General Meeting of Shareholders approved the report of the Board of Directors on listing 25,000,000 stocks in order to bring stock liquidity and increase benefits for shareholders.
Accordingly, Chairman of BOD of Hung Thinh Incons said that the listing on stock exchanges and dividends would depend on the business results of the fiscal year 2017.
In addition, based on the contracts signed in 2017, in 2018, the Company agreed to set a revenue plan of VND 4,055 billion, profit after tax of VND 180.3 billion, increasing by 50% and 64% respectively compared to the previous year’s results.
In addition, with the construction activities of projects, with the strategy of expanding operations to the field of direct investment in real estate projects implemented by the Board of Directors from 2017, revenue and profit of the Company are forecasted to annually grow 20% in 2019-2021.
By Thoi Dai
