Industrial park developer Kinh Bac reports $85 mln H1 profit
Leading industrial real estate developer Kinh Bac City Development Holding Corp. reported revenues of VND4.5 trillion ($189.99 million) and profits of VND2 trillion ($84.5 million) in the first six months of this year.
The figures, released at the company's recent shareholder meeting, show that it had fulfilled more than 50% of its year plans.
Deputy general director Pham Phuc Hieu said that since the beginning of the year, Kinh Bac has leased more than 170 hectares of industrial land to companies like Foxconn and Goertek.
Kinh Bac, listed on the Ho Chi Minh Stock Exchange (HoSE) as KBC, will focus this year on completing site clearance compensation for the Nam Son-Hap Linh Industrial Park project in Bac Ninh province (the remaining 108 hectares); the expanded Quang Chau IP in Bac Giang province (38 ha); and the Tan Phu Trung IP in Ho Chi Minh City (the remaining 33 ha).
Quang Chau IP in Bac Giang province, northern Vietnam. Photo courtesy of Kinh Bac City Development Holding Corp.
It will also focus on speeding up progress on some new IPs like the Trang Due 3 IP and the Trang Cat Urban Area in Hai Phong city; the Kim Dong-Chinh Nghia-An Thi Industrial Cluster in Hung Yen province; the Dam Nha Mac Industrial Cluster in Quang Ninh province; and the Phuoc Vinh Dong IP, Loc Giang IP and Tan Tap Industrial Cluster in Long An province.
The company said it will also step up preparations for new IP projects in Hau Giang like the Song Hau 2 IP.
In Hai Phong city, the Trang Due Urban Area is set to hand over its last 83 villas this year. Kinh Bac is yet to break ground for the Trang Cat Urban Area and Trang Due Industrial Park 3 projects, but preparations are underway.
For the Phuc Ninh Urban Area in Bac Ninh province, the firm has met with provincial leaders to resolve procedural issues. It will continue signing contracts for houses in the project’s next phase.
A social housing project in Bac Giang province is set to be handed over this year.
KBC has targeted revenues of VND9 trillion ($383.26 million) and after-tax profits of VND4 trillion ($170.34 million) in 2023, up 9.5 times and 2.5 times year-on-year, respectively.
On the HoSE, KBC shares closed at VND30,600 ($1.29) on Friday.
- Related News
- Read More
Indonesia to end incentives for imported CBU BEVs in 2026
The Indonesian government has confirmed that it will stop providing incentives for imported completely built-up (CBU) battery electric vehicles (BEVs) from 2026.
Southeast Asia - Tue, September 16, 2025 | 9:44 pm GMT+7
Aquatic sector advised to navigate challenges, secure exports to EU, US
Despite positive production signals with growth in 2025 projected at 4.25%, Vietnam's aquatic sector is facing mounting export pressures, particularly strict technical barriers in major markets such as the EU and the U.S.
Companies - Tue, September 16, 2025 | 9:41 pm GMT+7
Vietnam pledges favorable conditions for UK businesses
Finance Minister Nguyen Van Thang has affirmed Vietnam’s commitment to improving its investment environment and creating favourable conditions for foreign enterprises, including those from the UK.
Companies - Tue, September 16, 2025 | 9:29 pm GMT+7
Lotte Shopping plans to open more shopping malls in Vietnam
South Korean retail giant Lotte Shopping has unveiled plans to open an additional two to three large-scale shopping malls in major Vietnamese cities by 2030, underscoring the country’s growing role in the group’s international expansion strategy.
Companies - Tue, September 16, 2025 | 9:25 pm GMT+7
Vietnam ratifies WTO Agreement on Fisheries Subsidies
Vietnam officially deposited its instrument of ratification of the Agreement on Fisheries Subsidies at the WTO General Council’s special session in Switzerland on Monday.
Companies - Tue, September 16, 2025 | 9:21 pm GMT+7
What makes NobleGo - Vietnam’s first home-bidding livestream platform - so notable?
NobleGo – Vietnam’s pioneering AI-powered livestream real estate bidding platform developed by Sunshine Group – has completed its first 20 livestream sessions.
Real Estate - Tue, September 16, 2025 | 4:53 pm GMT+7
Japanese retailer Aeon to debut another northern Vietnam shopping mall by end-2026
Japanese-backed Aeonmall Vietnam is ramping up construction on its Aeon Mall Ha Long project in Quang Ninh province, home to Ha Long Bay, with an aim to open it to the public by end-2026.
Industries - Tue, September 16, 2025 | 3:54 pm GMT+7
Hanoi terminates Vinaxuki auto plant project, repurposes land for commercial complex
A long-stalled automotive manufacturing project by Xuan Kien Auto JSC (Vinaxuki) has been officially terminated by Hanoi authorities, and the reclaimed land in Phuc Thinh commune will be repurposed for a new commercial and service complex.
Industries - Tue, September 16, 2025 | 2:44 pm GMT+7
Central Vietnam province reviews investment proposal for thermal power project after Thai EGATi pullout
Authorities in the central province of Quang Tri are evaluating a proposal from Power Generation JSC 1 (EVNGENCO 1), a subsidiary of state utility Vietnam Electricity (EVN), to take over the Quang Tri thermal power plant project, following the withdrawal of Thai investor EGATi.
Energy - Tue, September 16, 2025 | 1:44 pm GMT+7
Amata to sell stakes worth $46 mln in Vietnam units to Novaland-tied buyers
Amata VN, the Vietnam arm of Thailand’s leading industrial park developer Amata, has approved a plan for its subsidiary Amata City Long Thanh Urban JSC (ACLT) to sell its remaining 51% stakes in two entities to local developer Novaland-linked buyers.
Real Estate - Tue, September 16, 2025 | 12:19 pm GMT+7
Vietnam already meets FTSE's criteria for stock market status upgrade: Finance Minister
Vietnam has fulfilled the criteria for a stock market status upgrade by FTSE Russell through reforms aimed at facilitating foreign investment inflows into its market, said Minister of Finance Nguyen Van Thang.
Economy - Tue, September 16, 2025 | 9:36 am GMT+7
Banks should be allowed to distribute, invest in mutual fund certificates: Vietnam's finance ministry
The Ministry of Finance is proposing a key reform that would allow commercial banks to invest in and distribute mutual fund certificates, as part of a broader plan to restructure the investor base and foster the development of Vietnam’s fund management industry.
Finance - Tue, September 16, 2025 | 8:00 am GMT+7
E-commerce boom a major driver of Vietnam's packaging paper industry growth
Vietnam's paper packaging industry is entering a period of strong growth, with an average annual growth rate forecasted at 10% until 2030.
Companies - Mon, September 15, 2025 | 10:20 pm GMT+7
Vietnam needs support from UK in developing international financial center: Deputy PM
Permanent Deputy Prime Minister Nguyen Hoa Binh has called on the UK and the City of London to continue supporting and accompanying Vietnam in promoting and introducing its international financial center (IFC).
Finance - Mon, September 15, 2025 | 10:12 pm GMT+7
Vietnam enforces 8% capital adequacy ratio for banks from Sept 15
Commercial banks and foreign bank branches in Vietnam must maintain a minimum capital adequacy ratio (CAR) of 8%, including at least 4.5% in Tier 1 core capital and 6% in Tier 1 capital, starting from September 15.
Banking - Mon, September 15, 2025 | 10:04 pm GMT+7
Tool for wood traceability management debuts in Vietnam
The Vn-WoodID application has been officially launched in Vietnam, becoming a key tool contributing to wood traceability.
Companies - Mon, September 15, 2025 | 10:00 pm GMT+7
