Industrial developer Becamex posts $59 mln in H1 profit
Becamex IDC, Vietnam's leading developer of large-scale industrial townships, 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 Binh Phuoc Industrial Park in Chon Thanh district, Binh Phuoc province, southern Vietnam. Photo courtesy of the company.
In the second quarter, Becamex's net revenue and after-tax profit reached VND1,924 billion ($82.36 million) and VND978 billion ($41.87 million), up 14% and 90% year-on-year, respectively.
After six months, Becamex has fullfilled 34.7% of the year's revenue plan and 47.4% of the year's profit target.
As of June 30, 2022, the company's total assets reached VND49,815 billion ($2.13 billion), up nearly VND1,000 billion compared to the beginning of the year. On the balance sheet, Becamex's equity reached VND18,293 billion ($783 million), up 6.7%.
Financial debt hit VND15,846 billion, of which long-term debt accounted for 70.3%. Bank loans hit VND4,660 billion, while outstanding bonds exceeded VND10,611 billion.
In future, Vietnam-Singapore Industrial Park Joint Venture (VSIP), Becamex's largest joint venture with Sembcorp Industries, will make an IPO, Becamex leaders told the company's annual general meeting in late April.
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.
Becamex IDC invested in VSIP at the original price of VND461 billion ($19.73 million), equivalent to a 49% stake. This investment has been re-evaluated according to the decision approving the corporate value to equitize the corporation at VND1,295.4 billion ($55.45 million). At the end of the second quarter in 2022, the investment value reached VND5,552 billion ($237.7 million).
Through VSIP, the company has cooperated with Sembcorp for more than 25 years, with a portfolio of eight industrial parks including VSIP Binh Duong I (500 hectares) and VSIP Binh Duong II (2,045 hectares); VSIP Bac Ninh (700 hectares); VSIP Hai Phong (1,600 hectares); VSIP Quang Ngai (915 hectares); VSIP Hai Duong (150 hectares); VSIP Nghe An (750 hectares); and Becamex VSIP Binh Dinh (1,374 hectares). The total area of these industrial parks exceeds 8,000 hectares.
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.
The 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 VND75,400 ($3.23) a piece at the closing session on August 1.
- Read More
Maintaining market status upgrade a bigger challenge: official
Vietnam's stock market status will be upgraded by FTSE Russell from "frontier" to "secondary emerging" from September 21 next year, but continued reform is critical as the bigger challenge is to maintain the new classification, said a market watchdog official.
Finance - Sat, October 18, 2025 | 1:30 pm GMT+7
HCMC partners with Nasdaq to develop int’l financial center
The Finance Department of Vietnam’s southern metropolis Ho Chi Minh City has signed an MoU with the U.S.-based stock exchange Nasdaq on the development of an international financial center (IFC).
Top News - Sat, October 18, 2025 | 11:56 am GMT+7
Vingroup plans $325 mln issuance of international bonds
Vietnam's leading private conglomerate Vingroup (HoSE: VIC) has announced a board of directors resolution to issue $325 million worth of international bonds, with a five-year term and a yield of 5.5% per year.
Companies - Sat, October 18, 2025 | 10:26 am GMT+7
Vietnam raises personal income tax deductions by over 40%
The Standing Committee of Vietnam’s National Assembly, the country's legislature, on Friday approved a resolution on adjusting personal income tax (PIT) deductions, marking a significant increase of over 40% from current levels.
Economy - Sat, October 18, 2025 | 9:11 am GMT+7
EVN subsidiary spreads the spirit of solidarity, compassion
The employees of National Power Transmission Corporation (EVNNPT) came together in an inspiring display of unity and compassion in October, each donating one day’s salary to support and express solidarity with the people of Cuba - a nation that has long shared a special friendship with Vietnam.
Companies - Sat, October 18, 2025 | 9:00 am GMT+7
Property fever prompts tighter inspection in central Vietnam's economic hub Danang
Chairman of Danang city People’s Committee, Pham Duc An, has ordered a comprehensive inspection and audit of land valuation and auction activities to prevent and address market manipulation that could destabilize the local property market.
Real Estate - Sat, October 18, 2025 | 8:00 am GMT+7
Vietnam mulls opening door for private investment in small modular reactors
Vietnam’s Ministry of Industry and Trade has drafted a parliamentary resolution that, for the first time, would allow private companies to participate in the development of small modular nuclear reactors (SMRs).
Energy - Fri, October 17, 2025 | 4:37 pm GMT+7
Kido seeks buyer for remaining 49% stake in frozen food affiliate
Kido Group (HoSE: KDC), a leading food company in Vietnam, has approved a plan to divest the firm's remaining 49% stake in its affiliate Kido Frozen Food JSC (Kido Foods).
Companies - Fri, October 17, 2025 | 4:25 pm GMT+7
Le Ngoc Quang appointed Danang city's Party chief
Le Ngoc Quang, a Party Central Committee member and Party chief of Quang Tri province, has been appointed Party chief of Danang for the 2025-2030 term - the highest position in the city, central Vietnam's economic hub.
Politics - Fri, October 17, 2025 | 4:17 pm GMT+7
T&T Group seeks to reshape north-central Vietnam’s urban landscape with major projects
Multi-sector conglomerate T&T Group is developing a model eco-urban complex in Ha Tinh province and plans to build a massive 236-hectare urban area in neighboring Nghe An, with an aim to reshape north-central Vietnam's urban landscape.
Investing - Fri, October 17, 2025 | 2:44 pm GMT+7
Toyota plans $359 mln plant expansion in northern Vietnam
Toyota Motor Vietnam (TMV) plans to invest about VND9.46 trillion ($359.2 million) in the first phase of its plant expansion project in Phu Tho province.
Investing - Fri, October 17, 2025 | 2:09 pm GMT+7
PVI Insurance sees 9-month profit before tax more than doubling
PVI Insurance has reaffirmed its position as the No. 1 non-life insurer in Vietnam, with total revenue increasing nearly 1.4 times in the first nine months of 2025 and pre-tax profit more than doubling year-on-year - surpassing its full-year targets for both revenue and profit.
Companies - Fri, October 17, 2025 | 9:08 am GMT+7
Vingroup to develop 4,600ha coastal urban project in northern Vietnam
A consortium of Vingroup (HoSE: VIC) and its real estate arm Vinhomes (HoSE: VHM) will develop a 4,600-hectare coastal urban complex in Ha An ward, Quang Ninh province, following local authorities’ approval of a zoning plan.
Real Estate - Fri, October 17, 2025 | 8:30 am GMT+7
Indonesia resumes int’l carbon trading after 4-year hiatus
Indonesian President Prabowo Subianto has issued a new decree to restart international carbon emissions trading after a four-year hiatus.
Southeast Asia - Thu, October 16, 2025 | 9:23 pm GMT+7
Investors seek 2-year delay for $2.56 bln LNG power project in northern Vietnam, citing equipment hurdles
Investors of a $2.56 billion LNG-fired power plant in Hung Yen province have proposed delaying the project’s commercial operation schedule by two years due to difficulties securing key equipment.
Energy - Thu, October 16, 2025 | 9:04 pm GMT+7
Vietnam to soon raise taxpayers' personal deduction: official
The personal income tax deduction in Vietnam is "very likely" to increase to VND21.7 million ($823,940) per month, including VND15.5 million (588,530) for the taxpayer and VND6.2 million ($235,410) for each dependent.
Finance - Thu, October 16, 2025 | 6:25 pm GMT+7
 
             
 
                    




















