Vietnam steel magnate says excessive imports threaten domestic production
Rising steel imports are threatening domestic production, said Tran Dinh Long, chairman of Vietnamese steel producer Hoa Phat Group.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnams steel major Hoa Phat 'confident' about China competition
Senior officials of major Vietnamese steel maker Hoa Phat are confident that the company can deal with Chinese competition, given the attention they’ve paid to their costing.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Steel giant Hoa Phat aims for $406 mln profit, 10% dividends in 2024
Vietnam’s top steelmaker Hoa Phat Group is targeting VND140 trillion ($5.68 billion) in revenue and VND10 trillion ($405.7 million) in net profit this year, respective increases of 17% and 46% compared to 2023.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Top steelmaker Hoa Phat expects 2023 improvements to continue with higher sales, profits
Vietnam’s top steel maker, Hoa Phat Group, expects to carry further forward the year-on-year progress it made in 2023 with improved sales and better prices this year.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam's No.1 steelmaker Hoa Phat posts 5-quarter high Q3 profit
Stable raw material prices and improved sales helped Hoa Phat Group, Vietnam's largest steelmaker, earned a post-tax profit of VND2 trillion ($81.37 million) in the third quarter of 2023, the heftiest in five quarters.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Steel producer Hoa Phat to build 2 wharves in central Vietnam port
Hoa Phat General Port JSC, a subsidiary of steel giant Hoa Phat, has been given the green light to research, survey, and propose projects to build wharves No. 4 and No. 5 at Dung Quat I Terminal in line with planning, said Quang Ngai province's People’s Committee.
Infrastructure - Mon, Dec 22, 2021 | 11:30 am GMT+7
Steelmaker Hoa Phat welcomes first container ship to new port
The Hoa Phat Dung Quat general container port, invested by Vietnam’s biggest steelmaker Hoa Phat Group, welcomed its first container ship on Sunday.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Steel prices may recover slightly in final months of year: SSI Securities
The last quarter of the year is expected to see a rise in steel prices thanks to positive consumption signs, according to leading broker SSI Securities.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam steel industry still faces huge difficulties in Q3: KIS Securities
The third quarter of 2023 will be another challenging period for Vietnamese steel producers as market demand is forecast to remain weak due to the rainy season and falling prices that will affect companies’ profit margins.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Hoa Phat Group hands over first shipment of 100 containers
Hoa Phat Container Manufacturing JSC, a subsidiary of steel giant Hoa Phat, on Friday handed over a shipment of 100 20-foot containers to the Ho Chi Minh City-based New Way Lines Co., Ltd.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam’s major steel producers report Q2 profit plunge
Three of the nation’s steel majors - Hoa Phat Group, Hoa Sen Group and Nam Kim - have reported significant profit declines in the second quarter of this year, while Vnsteel has posted a loss.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Steel sales in Vietnam fall 17.5% to 12.5 mln tons in H1
Steel sales in Vietnam fell 17.5% year-on-year to 12.48 million tons in the first half of this year, according to a report by the 100-member Vietnam Steel Association (VSA).
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Hoa Phat steel sales down 27% in first six months
Hoa Phat Group, Vietnam's largest steelmaker, sold 2.9 million tons of construction steel, billets and hot-rolled coils (HRC) in the first half of the year, down 27% year-on-year.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Phu Yen lures mega investments with multi-sector advantages, preferential policies
The south-central province of Phu Yen has been able to attract mega investments from foreign and domestic businesses by presenting its multi-sector advantages and offering preferential policies.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam's steel sector sees light at end of tunnel: Hoa Phat executive
Vietnam's steel sector has endured a difficult period, but the worst days are over, according to Tran Dinh Long, chairman of Hoa Phat Group, the biggest Vietnamese steel producer, as its performance improved from a loss in January to a profit in March.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Steel giant Hoa Phat targets $336 mln in 2023 profit
Hoa Phat Group, the largest Vietnamese steelmaker, targets to reach revenue of VND150 trillion ($6.29 billion) in 2023, and after-tax profit of VND8 trillion ($336 million), up 6% but down 5% year-on-year, respectively.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Nam Kim Steel records first loss in 10 years
Nam Kim Steel, a major steelmaker in Vietnam, made a loss of VND66.7 billion ($2.84 million) in 2022, its first loss in 10 years, with net revenue reaching VND23,071 billion ($983.8 million), down 19% year-on-year.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Steel giant Hoa Phat’s post-tax profit drops 76% in 2022
Hoa Phat Group, the largest Vietnamese steelmaker, recorded a post-tax profit of VND8.4 trillion ($358 million) in 2022, down 76% year-on-year.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Steel sales drop 7% in 11 months
Steel output in Vietnam dropped 11.3% year-on-year in the first 11 months of the year to 27.12 million tons, while sales fell 6.8% to 25.1 million tons, according to Vietnam Steel Association.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Two Vietnamese entrepreneurs exit Forbes’ billionaire list
Two Vietnamese billionaires namely Tran Dinh Long, chairman of steel giant Hoa Phat, and Bui Thanh Nhon, chairman of real estate developer Nova Group, exited Forbes’ latest billionaire list announced Friday.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Retail steel prices hit record low in nearly 2 years
Retail steel prices in Vietnam dropped Wednesday to around VND14 million ($572) per ton, equivalent to the level at end-2020.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Steel major Hoa Phat proposes $4.3 bln projects in Central Highlands
Hoa Phat Group, Vietnam’s largest steel maker, is proposing to invest about $4.3 billion in four factories in the Central Highlands province of Dak Nong.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Hoa Phat to build $3.7 bln steel project in central Vietnam
Hoa Phat Group, Vietnam’s top steel maker, will embark on constructing its Dung Quat 2 iron and steel project in Quang Ngai province this month, the company said in a release.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Hoa Phat chairman becomes Vietnam’s 2nd richest, after Vingroup’s Vuong
Tran Dinh Long, Chairman of Hoa Phat Group, whose net worth quickly expanded an additional $200 million in the past three days, has surpassed CEO of Vietjet Air Nguyen Thi Phuong Thao to become the second richest person in Vietnam, according to Forbes.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Hoa Phat Group to sell containers from Q4
A plant invested by Hoa Phat Group, Vietnam’s leading steel maker, to manufacture containers in Ba Ria-Vung Tau province will test run in the third quarter and launch products from the fourth quarter.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
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