Industrial developer Becamex buys back $8.49 mln bonds before maturity
Becamex IDC, Vietnam's leading developer of large-scale industrial townships, has bought back VND200 billion ($8.5 million) worth of bonds before maturity on August 31.
The value of outstanding bonds decreased from VND1,800 billion ($76.51 million) to VND1,600 billion ($67.98 million).
This bond lot had a total issuance volume of VND2,000 billion ($85 million) with a term of five years, an issuance date of August 31, 2020, and maturity date of August 31, 2025. Becamex has bought back a total VND400 billion of this bond lot.
The owners of the bonds Becamex bought back this time were Shinhan Bank Vietnam, Tien Phong Bank, Vietnam-Russia Joint Venture Bank and BIDV bank.
By the end of the second quarter of 2022, Becamex's outstanding long-term bonds were worth more than VND9,116 billion ($387.5 million), accounting for the majority of its total debt.
Becamex recorded an after-tax profit of VND1,370 billion ($58.67 million) in the first half of 2022, up 40% year-on-year. The corporation achieved a net revenue of VND3,358 billion ($143.8 million) during the period, an 8% rise compared to the same period last year, according to its consolidated financial statement.
Becamex leaders told the company's annual general meeting in late April that in future, Vietnam-Singapore Industrial Park Joint Venture (VSIP), Becamex's largest joint venture with Sembcorp Industries, will make an IPO.
Besides, in the next two years, Becamex plans to list shares of BW Industrial Development JSC (BWID), Becamex's second largest joint venture with global private equity firm Warburg Pincus, on a stock exchange.
In March 2022, VSIP held a groundbreaking ceremony for the third industrial park project in the southern province of Binh Duong with a scale of 1,000 hectares.
VSIP parks have attracted a total $15 billion in foreign investment, serving about 880 tenants from 30 countries and territories.
Apart from VSIP, Becamex owns many other large industrial parks like My Phuoc Industrial Park 1-3 (1,287 hectares); Expanded Bau Bang and Bau Bang industrial parks (1,489 hectares); Thoi Hoa Industrial Park (153 hectares); and Cay Truong Industrial Park (500 hectares).
On the Ho Chi Minh City Stock Exchange, the BCM shares price hit VND89,500 ($3.80) a piece at the closing session on Sept. 9.
- Read More
Saudi Aramco seeks to invest in Vietnam, partner with Petrovietnam
State-owned Saudi Arabian Oil Group (Aramco), the world’s largest oil producer, is eyeing to invest in petrochemical-oil refining and petroleum distribution in Vietnam, said president and CEO Amin Hassan Nasser.
Energy - Wed, October 30, 2024 | 11:01 am GMT+7
Emirates seeks to expand presence in Vietnam
Emirates, the flagship carrier of the UAE, has signed two separate memorandums of understanding (MoUs) with Vietnam Airlines and Vietjet as part of the airline's efforts to expand its footprint in Vietnam.
Companies - Wed, October 30, 2024 | 10:02 am GMT+7
Brightening outlook for Vietnam steelmakers with real estate recovery, infrastructure development: analysts
While Q3 results among Vietnam’s steelmakers are a mixed bag of gradual recovery and continued losses, there are several factors pointing to a brighter outlook for the industry, analysts say.
Industries - Wed, October 30, 2024 | 8:00 am GMT+7
Former National Assembly General Secretary faces disciplinary action
The Party Central Committee’s Inspection Commission has proposed competent authorities take disciplinary action against Bui Van Cuong, who stepped down last week as the National Assembly’s General Secretary.
Politics - Tue, October 29, 2024 | 11:10 pm GMT+7
Indonesia aims to become Southeast Asia's EV production hub
Indonesia is actively seeking to boost investment in a bid to establish itself as a center for electric vehicle (EV) and battery production in Southeast Asia.
Southeast Asia - Tue, October 29, 2024 | 10:38 pm GMT+7
Singapore trials autonomous vehicles on public roads for cargo transportation
Singapore’s FairPrice Group (FPG) recently announced that it has become the first organization in the country to receive approval from the Land Transport Authority (LTA) for the final stages of trials to use autonomous vehicles (AVs) on public roads for cargo transportation.
Southeast Asia - Tue, October 29, 2024 | 10:37 pm GMT+7
Malaysia promotes green energy transition
The Malaysian Government has increased the National Energy Transition Facility Fund allocation to over RM300 million ($60.80 million) in the 2025 budget from only RM100 million this year.
Southeast Asia - Tue, October 29, 2024 | 10:35 pm GMT+7
Singapore spends $270 mln on AI infrastructure, human resources
Singapore’s National Research Foundation (NRF) will allocate $270 million to the National Supercomputing Centre (NSCC) in the next three years to train specialists and develop next-gen supercomputers in order to boost AI through supercomputing talent and infrastructure.
Southeast Asia - Tue, October 29, 2024 | 10:34 pm GMT+7
Vietnam gov’t removes curbs on retail investors in private bond offerings
The Vietnamese government has dropped initially drafted restrictions on retail investors of corporate bonds via private placements in a move to beef up the local stock market after recent financial scandals.
Finance - Tue, October 29, 2024 | 10:16 pm GMT+7
Germany’s PNE seeks Vietnam partners for $4.6 bln offshore wind power project
Germany-based wind energy developer PNE AG is seeking “sustainable partners” in Vietnam to deploy the $4.6 billion Hon Trau offshore wind power project in the central coastal province of Binh Dinh.
Energy - Tue, October 29, 2024 | 6:55 pm GMT+7
E-wallet turned financial assistant MoMo banks on ‘power of small things’: exec
MoMo e-wallet believes in the power of small things, Vietnamese ingenuity, technological advancement, and positive change, says Nguyen Manh Tuong, co-founder, vice chairman of the board, and CEO of MoMo.
Companies - Tue, October 29, 2024 | 6:29 pm GMT+7
Keppel subsidiary M1 buys 70% stake in Vietnamese IT firm ADG for $29 mln
M1 Limited (M1), a telecommunications firm under Singaporean conglomerate Keppel, will acquire a 70% stake in Vietnam-based information technology (IT) solutions provider ADG for SGD37.8 million ($28.5 million).
Companies - Tue, October 29, 2024 | 4:27 pm GMT+7
Vietnam’s Masan MEATLife posts $4.14 million in Q3 after-tax profit
Masan MEATLife (MML), a subsidiary of Vietnamese consumer retail giant Masan Group, recorded net profit after tax and pre-minority interest (NPAT Pre-MI) of VND105 billion ($4.14 million) in the third quarter of 2024.
Companies - Tue, October 29, 2024 | 3:25 pm GMT+7
Vietnam’s PV Gas, Russia’s Zarubezhneft to further core area cooperation
PV Gas, under state-owned Petrovietnam, and Russia’s state-owned Zarubezhneft will further cooperate in oil-gas and energy activities, the former said on Monday.
Energy - Tue, October 29, 2024 | 3:05 pm GMT+7
Vietnam steel major Hoa Phat’s net profit may reach $1 bln with new mill
Hoa Phat Group, which claims to be the biggest steel producer in Vietnam and Southeast Asia, may record a net profit of VND20-25 trillion ($793-991 million) when its new mill in the central region becomes fully operational, according to Vietcombank Securities (VCBS).
Companies - Tue, October 29, 2024 | 2:42 pm GMT+7
IFC plans $200 mln loan to LG Innotek Vietnam
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, plans to make a sustainability-linked loan (SLL) of up to $200 million to LG Innotek Vietnam Haiphong Co., Ltd.
Finance - Tue, October 29, 2024 | 10:11 am GMT+7
- Consulting
-
Remove roadblocks to lure foreign investment into Vietnam: HSBC exec
-
Rethinking resilience: How typhoon Yagi redefines supply chain strategies in northern Vietnam
-
In trade and investment, ASEAN and China are better together
-
AI can be a game changer for Vietnam tourism
-
Investment opportunities in LNG-to-power projects in Vietnam
-
Pepper prices 2024: will the dream of 'black gold' repeat?