Hoa Binh Construction Group shares to appear on unlisted public companies market from Wed

By My Ha, Thai Ha
Mon, September 16, 2024 | 10:36 pm GMT+7

More than 347 million Hoa Binh Construction Group (HBC) shares will be registered on the unlisted public companies market UPCoM Wednesday, after being delisted from the Ho Chi Minh Stock Exchange on September 6.

A property project with Hoa Binh Construction Group as main contractor. Photo courtesy of Thoi bao Tai chinh Vietnam (Vietnam Financial Times) newspaper.

A property project with Hoa Binh Construction Group as main contractor. Photo courtesy of Thoi bao Tai chinh Vietnam (Vietnam Financial Times) newspaper.

Hoa Binh Construction, one of the leading construction contractors in Vietnam, says the company commits to maintaining its transparent reporting mechanism to ensure it could list again on the major bourse HoSE in the next two years.

According to a company release, more than 347 million HBC shares can be traded on the UPCoM, under the Hanoi Stock Exchange (HNX), starting from Wednesday, September 18 with a reference price of VND5,700 (23 U.S. cents) apiece.

The group listed its shares on the HoSE in 2006. In August, the major bourse decided to delist 347.2 million HBC shares from September 6.

The reason was the company’s accumulated loss exceeded its charter capital (actual capital contribution) per the audited consolidated financial statements for 2023.

In the first half of the year, Hoa Binh Construction recorded positive business results, with profit after tax reaching more than VND829.7 billion ($33.8 million), far exceeding the plan set for the whole 2024.

The figure also showed a significant improvement compared to a loss of VND713 billion ($28.6 million) in the same period last year.

The group successfully issued 73.08 million shares worth VND730.8 billion ($29.77 million) to swap debt for 99 suppliers and subcontractors.

As a result, its charter capital increased from VND2,741 billion to VND3,472 billion ($141.5 million), while its owner’s equity rose from VND93 billion at end-2023 to VND1,662 billion ($67.71 million).

Hoa Binh Construction said the outcomes were derived from its comprehensive restructuring strategy. The firm has "successfully consolidated its manpower, optimized management costs, and restructured assets through divestment of inefficient subsidiaries and affiliated companies".

It has also accelerated debt collection and restructuring of products and services, improving business efficiency.

With a strong recovery momentum in the first half of 2024, Hoa Binh Construction continues to focus on promoting construction activities as core business line, while expanding its market, especially international projects, it stressed.

Company leaders assessed that the 2024-2025 period is forecast to be the peak time of public investment disbursement. Therefore, it would participate in bidding for potential projects and increase the proportion of infrastructure revenue.

It would also strengthen the industrial construction and logistics segment to cash in on the wave of FDI shifts to Vietnam.

Regarding the civil construction segment, the real estate market has been frozen and is facing many difficulties, so Hoa Binh Construction advocates finding customers with reputation and good financial potential.

Finally, the group plans to expand its provision of construction services related to construction, construction materials and design to the world market, increasing values in its business chains.

Comments (0)
  • Read More
Singapore, France to expand cooperation in civil nuclear energy, defence technology, AI research

Singapore, France to expand cooperation in civil nuclear energy, defence technology, AI research

Singapore and France have upgraded their Strategic Partnership signed in 2012 to a Comprehensive Strategic Partnership (CSP), marking Singapore's first CSP with a European country.

Southeast Asia - Mon, June 2, 2025 | 10:47 pm GMT+7

Masan MEATLife stock jumps on continued profit momentum

Masan MEATLife stock jumps on continued profit momentum

The ticker of Masan MEATLife (MML), a subsidiary of Vietnamese consumer retail giant Masan Group, jumped by 8.71% to VND31,200 ($1.2) per share on Monday, after it reported profit for the third consecutive quarter in Q1/2025.

Companies - Mon, June 2, 2025 | 10:34 pm GMT+7

Vietnam's VSIP Binh Dinh industrial park seeks to become 'golden destination' for Thai firms

Vietnam's VSIP Binh Dinh industrial park seeks to become 'golden destination' for Thai firms

The Becamex VSIP Binh Dinh service-urban-industrial complex in the central province of Binh Dinh is emerging as a promising destination for Thai enterprises, said its developer Becamex Binh Dinh JSC.

Industrial real estate - Mon, June 2, 2025 | 10:24 pm GMT+7

Termination of feed-in-tariff mechanism a major bottleneck in Vietnam’s electricity transition: expert

Termination of feed-in-tariff mechanism a major bottleneck in Vietnam’s electricity transition: expert

A major bottleneck in Vietnam’s electricity transition has been the termination of the feed-in-tariff (FIT) mechanism in 2021, with no suitable replacement mechanism in place, according to the director of Hanoi-based Institute of Energy Technology.

Economy - Mon, June 2, 2025 | 4:56 pm GMT+7

Vietnam Vaccine JSC launches high-quality healthcare shop chain

Vietnam Vaccine JSC launches high-quality healthcare shop chain

Vietnam Vaccine JSC (VNVC), well known for its vacciation services, on Saturday launched its VNVC Shop, a chain offering safe, high-quality healthcare products from globally recognized brands.

Companies - Mon, June 2, 2025 | 4:05 pm GMT+7

Vietnam heavyweight PV Gas plans $3 bln investment over next 5 years

Vietnam heavyweight PV Gas plans $3 bln investment over next 5 years

PV Gas, a subsidiary of state-owned giant Petrovietnam, plans to make "strong investment" over the next five years in areas such as infrastructure and import-distribution of LNG.

Energy - Mon, June 2, 2025 | 2:01 pm GMT+7

Vietnam sees renewed output expansion, improved business confidence in May: S&P Global

Vietnam sees renewed output expansion, improved business confidence in May: S&P Global

May saw a more stable picture in terms of U.S. tariff policies than April, helping lead to a renewed expansion in output and improved business confidence, says Andrew Harker, economics director at S&P Global Market Intelligence.

Economy - Mon, June 2, 2025 | 9:18 am GMT+7

Vietnam considers developing 2 inter-regional renewable energy service and industry hubs

Vietnam considers developing 2 inter-regional renewable energy service and industry hubs

The Ministry of Industry and Trade (MoIT) has proposed building two inter-regional renewable energy service and industry hubs in the country.

Economy - Mon, June 2, 2025 | 8:00 am GMT+7

Investors advised to take profits from stocks having risen sharply

Investors advised to take profits from stocks having risen sharply

Investors should maintain a balanced stock allocation in their portfolios and consider buying opportunities if the VN-Index retreats to the 1,300-1,320 point range, say market experts.

Finance - Sun, June 1, 2025 | 8:10 pm GMT+7

Shares of Vietnam's leading jewelry maker PNJ jump over 30% ahead of gold inspection report

Shares of Vietnam's leading jewelry maker PNJ jump over 30% ahead of gold inspection report

Shares of Phu Nhuan Jewelry JSC (PNJ), a leading jewelry producer in Vietnam, rallied sharply ahead of the central bank’s Friday release of its gold market inspection findings.

Companies - Sun, June 1, 2025 | 1:14 pm GMT+7

Vietnamese firm takes over 40-year-old Pierre Cardin shoe chain in Thailand

Vietnamese firm takes over 40-year-old Pierre Cardin shoe chain in Thailand

Emall Vietnam, which owns a network of 100 high-end business shoe stores under the Pierre Cardin and Oscar brands in Vietnam, has taken over the entire Pierre Cardin shoe system in Thailand.

Companies - Sun, June 1, 2025 | 10:29 am GMT+7

Southern Vietnam province Ba Ria-Vung Tau okays 53 projects

Southern Vietnam province Ba Ria-Vung Tau okays 53 projects

Ba Ria-Vung Tau authorities on Friday granted in-principle approvals or investment registration certificates for 53 projects, including a green light for a $400 million investment capital hike of the $5.4 billion Long Son Petrochemicals Complex.

Industries - Sun, June 1, 2025 | 8:00 am GMT+7

Who to receive over 97 mln ESOP shares from Vietnam's leading developer Novaland 

Who to receive over 97 mln ESOP shares from Vietnam's leading developer Novaland 

Novaland, a major real estate developer in Vietnam, will simultaneously implement plans to issue bonus shares and offer ESOP (employee stock ownership plan) shares, with a total issuance rate of 5%, equivalent to more than 97 million units.

Companies - Sat, May 31, 2025 | 11:09 pm GMT+7

Vietnam billionaire Pham Nhat Vuong to contribute 48 mln Vingroup shares to VinSpeed

Vietnam billionaire Pham Nhat Vuong to contribute 48 mln Vingroup shares to VinSpeed

Billionaire Pham Nhat Vuong has registered to transfer more than 48 million Vingroup (VIC) shares to the newly-established VinSpeed that registered to build the North-South high-speed railway project.

Companies - Sat, May 31, 2025 | 7:14 pm GMT+7

Two investors propose $65 mln wind power project in central Vietnam

Two investors propose $65 mln wind power project in central Vietnam

A consortium of Quang Tri Renewable Energy Investment JSC and Win Power Holding Pte Ltd, and Nam Binh Wind Power JSC have submitted an application to implement a 48-megawatt wind power plant in the central province of Quang Tri.

Energy - Sat, May 31, 2025 | 3:10 pm GMT+7

Central Vietnam city seeks investors for $209 mln LNG, LPG terminal project

Central Vietnam city seeks investors for $209 mln LNG, LPG terminal project

The central city of Danang is calling for investment in an LNG and LPG terminal project worth over VND5.43 trillion ($208.7 million).

Infrastructure - Sat, May 31, 2025 | 10:52 am GMT+7