Lego plant builder Coteccons acquires 2 Singapore-invested infrastructure firms

By Anh Minh
Sun, February 11, 2024 | 3:31 pm GMT+7

Coteccons Construction JSC, the contract builder of the Lego plant in southern Vietnam, has wholly acquired two Singapore-invested infrastructure-focused companies in a bid to expand its operations in this field.

The two target firms are Sinh Nam Metal (Vietnam) Co., Ltd and UG M&E (Vietnam) Limited, Coteccons said in an announcement released Friday, the last day of the 2023 lunar year.

A factory of Sinh Nam Metal (Vietnam) Co. in Binh Duong, southern Vietnam. Photo courtesy of the company.

A factory of Sinh Nam Metal (Vietnam) Co. in Binh Duong, southern Vietnam. Photo courtesy of the company.

Sinh Nam Metal (Vietnam), established in 2008 under Singapore’s Kimteck Industries, provides aluminum and glass facade solutions for medium to large projects.

Located in the Vietnam-Singapore Industrial Park (VSIP) in Binh Duong province, its factory has a production capacity of 200 square meters of windows and doors and 300-450 m2 of alum curtain walls per day. It was a contractor for a terminal at Noi Bai airport in Hanoi.

Meanwhile, UG M&E Vietnam has more than 10 years of experience in the mechanical and electrical (M&E) sector, focusing on constructing and installing fire protection, water supply and drainage, air conditioning, and electrical systems. It was a contractor for Singapore's Changi airport.

In the fourth quarter of 2023, Coteccons Construction, listed on the Ho Chi Minh Stock Exchange as CTD, announced the acquisition of a construction business and an M&E company.

In the first half of its 2024 fiscal year, Coteccons Construction earned a consolidated net profit of VND135.71 billion ($5.56 million) on revenue of VND9.78 trillion ($400 million), up 8.8-fold and 4.7% year-on-year, according to its latest financial statement.

For its FY2024, the firm aims to make a net profit of VND274 billion ($11.22 million) on revenue of VND17.8 trillion ($728 million).

Its shares closed down 0.45% at VND66,200 ($2.71) apiece on February 7, the last trading day before the one-week Lunar New Year break.

Comments (0)
  • Read More
Vietnam's SHB bank okayed to expand charter capital to $1.76 bln

Vietnam's SHB bank okayed to expand charter capital to $1.76 bln

Saigon-Hanoi Bank (SHB) has received approval from Vietnam's central bank to raise its charter capital to VND45.942 trillion ($1.76 billion) after issuing a 13% share dividend, maintaining its position among the Top 5 largest private banks in Vietnam.

Banking - Tue, July 22, 2025 | 12:45 pm GMT+7

Update of typhoon Wipha in northern Vietnam

Update of typhoon Wipha in northern Vietnam

The cloud area north of the typhoon Wipha is moving into Hanoi, continuing to form and develop, causing rain in many suburban areas.

Society - Tue, July 22, 2025 | 10:18 am GMT+7

Vietnam’s BCG Energy aims for green energy comeback

Vietnam’s BCG Energy aims for green energy comeback

BCG Energy JSC (UPCoM: BGE), a subsidiary of Vietnam's multi-sector corporation Bamboo Capital, plans to hold its 2025 AGM on August 14, staying ready for a comeback to the green energy race.

Companies - Tue, July 22, 2025 | 9:54 am GMT+7

Vietnam’s benchmark VN-Index expected to surpass historical highs after correction: expert

Vietnam’s benchmark VN-Index expected to surpass historical highs after correction: expert

The VN-Index, representing the Ho Chi Minh Stock Exchange (HoSE), will establish a new base and potentially break through its historical peaks after a correction phase, said Tran Hoang Son, director of market strategy at VPBank Securities (VPBankS).

Finance - Tue, July 22, 2025 | 9:07 am GMT+7

Passion fruit, banana, pineapple, coconut could be Vietnam's next billion-dollar exports

Passion fruit, banana, pineapple, coconut could be Vietnam's next billion-dollar exports

Passion fruit, banana, pineapple, and coconut are emerging as Vietnam’s next billion-dollar export items, offering strong potential to diversify the country’s fruit and vegetable sector, experts told a recent forum held in Ho Chi Minh City.

Companies - Tue, July 22, 2025 | 8:53 am GMT+7

Keppel Land to entirely divest from Nam Long after a decade of being strategic shareholder

Keppel Land to entirely divest from Nam Long after a decade of being strategic shareholder

Ibeworth Pte Ltd, a company under Singapore's Keppel Land, on Monday announced that it will sell over 29.4 million Nam Long Group (HoSE: NLG) shares to restructure its portfolio.

Companies - Mon, July 21, 2025 | 11:24 pm GMT+7

Vietcomank proposes not to pay taxes on behalf of foreign entities without physical presence in Vietnam

Vietcomank proposes not to pay taxes on behalf of foreign entities without physical presence in Vietnam

Vietcombank, one of the Big 4 Vietnamese banks, has proposed removing a regulation that requires commercial banks to withhold and pay taxes on behalf of foreign organizations and individuals that earn income from commercial activities in Vietnam but do not have physical presence in the country.

Finance - Mon, July 21, 2025 | 8:54 pm GMT+7

Typhoon Wipha approaches Vietnam's coast, expected to trigger torrential rains, landslides

Typhoon Wipha approaches Vietnam's coast, expected to trigger torrential rains, landslides

Typhoon Wipha, the third storm this year in Vietnam, is forecast to make landfall along the coast from Hai Phong city to Thanh Hoa province on Tuesday, bringing extreme rainfall to northeastern provinces as well as the mountainous regions of Thanh Hoa, Nghe An, and Ha Tinh.

Society - Mon, July 21, 2025 | 5:06 pm GMT+7

Vietnam's personal income tax brackets proposed to decrease from 7 to 5

Vietnam's personal income tax brackets proposed to decrease from 7 to 5

Vietnam’s Ministry of Finance (MoF) has proposed reducing the number of personal income tax brackets from seven to five, while widening the income ranges for each bracket.

Finance - Mon, July 21, 2025 | 4:11 pm GMT+7

Vietnam's leading broker SSI appoints 37-year-old CEO

Vietnam's leading broker SSI appoints 37-year-old CEO

Chairman of SSI Securities Nguyen Duy Hung has called the appointment of Nguyen Duc Thong as new CEO "a strategic move aimed at propelling the company into a new phase of breakthrough development".

Companies - Mon, July 21, 2025 | 2:21 pm GMT+7

Vietnam fertilizer major PVFCCo approves massive bonus share issuance

Vietnam fertilizer major PVFCCo approves massive bonus share issuance

After finalizing the record date for a 15% cash dividend, Petrovietnam Fertilizer and Chemicals Corporation (PVFCCo or Phu My Fertilizer), a subsidiary of state-owned Petrovietnam, will issue bonus shares at a striking rate of 73.74% on August 8.

Companies - Mon, July 21, 2025 | 12:37 pm GMT+7

New apartments under $2,300 per sqm gradually disappear in Vietnam

New apartments under $2,300 per sqm gradually disappear in Vietnam

New apartments priced under VND40 million ($1,530) per square meter have completely disappeared from the markets of major Vietnamese cities in recent years, and now those below VND60 million ($2,295) are almost non-existent.

Real Estate - Mon, July 21, 2025 | 11:43 am GMT+7

Storm Wipha nears northern Vietnam with heavy rain, strong winds and flood risk

Storm Wipha nears northern Vietnam with heavy rain, strong winds and flood risk

Tropical Storm Wipha (Storm No. 3) is closing in on northern Vietnam after entering mainland southern China early Sunday, bringing heavy rains, strong winds, and heightened risks of flash floods and landslides across large parts of the country.

Society - Mon, July 21, 2025 | 11:15 am GMT+7

Motorbike 'king' Honda and the race towards electric two-wheelers

Motorbike 'king' Honda and the race towards electric two-wheelers

Dominating Vietnam’s gasoline-powered motorbike market with a 83% share, Japan’s Honda - long considered the "king of motorbikes" - appears to be lagging in the electric motorbike race.

Companies - Mon, July 21, 2025 | 8:00 am GMT+7

Vietnam's pharma major Imexpharm sees profit surge on OTC sales recovery

Vietnam's pharma major Imexpharm sees profit surge on OTC sales recovery

Imexpharm Pharmaceutical JSC (IMP) has reported a strong profit rebound in the second quarter of 2025, driven mainly by a resurgence in the over-the-counter (OTC) sales channel, following a subdued period during 2023-2024.

Companies - Sun, July 20, 2025 | 2:32 pm GMT+7

SCG-backed $5.4 bln petrochemical complex in southern Vietnam set to restart operations in August

SCG-backed $5.4 bln petrochemical complex in southern Vietnam set to restart operations in August

The $5.4 billion Long Son Petrochemicals Complex, located in Long Son commune, Ho Chi Minh City, is expected to resume full operations this August after a period of temporary suspension due to market fluctuations.

Industries - Sun, July 20, 2025 | 10:07 am GMT+7