Thailand IP developer Amata's profit in Vietnam down 69% to $3.8 mln in 2024
Amata VN, the Vietnam subsidiary of Thailand’s top industrial park developer Amata, earned a profit of THB132.7 million ($3.8 million) in 2024, down 68.8% year-on-year.
Amata VN’s performance review for 2024 attributed the lower profit to the higher real estate costs and the write-off of assets damaged by super typhoon Yagi.
Amata City Ha Long (Quang Yen Industrial Park) in Quang Ninh province, northern Vietnam. Photo courtesy of Amata VN.
Its total revenue grew 24.2% year-on-year to THB5.32 billion ($157 million). The revenue included THB2.4 billion from real estate sales, up 6.5%; THB2.88 billion from utility services, up 49.8%; THB27 million from rental services, down 18.1%; and other incomes.
It clarified that the real estate revenue featured sales of 69.61 hectares in Amata City Ha Long (Quang Yen Industrial Park) in the northern province of Quang Ninh and 5.38 hectares in Amata City Long Thanh (Long Thanh high-tech park) in the southern province of Dong Nai.
Despite higher revenue, the real estate sector recorded lower gross profits, at THB520.4 million ($15.3 million), down 32.3% year-on-year.
Amata started investing in Vietnam with Amata City Bien Hoa (Long Binh Industrial Park) in Dong Nai province in 1994. So far, Amata’s industrial parks in Vietnam have attracted foreign investments of $6.7 billion, employing 60,000 people.
Its industrial real estate portfolio in Vietnam now has Amata City Bien Hoa, Amata City Long Thanh, Amata City Ha Long, and Quang Tri Industrial Park.
- Related News
- Read More
Vietnam launches International Financial Center, pledges 'special process' to resolve investor hurdles
Vietnam on Sunday announced the establishment of its International Financial Center (IFC), with Prime Minister Pham Minh Chinh pledging to fast-track the resolution of investor difficulties through a “special process”.
Economy - Sun, December 21, 2025 | 9:18 pm GMT+7
The new target for VN-Index is 3,200: Finnish fund PYN Elite
The earnings growth of listed companies in Vietnam will continue to support equity prices in 2026. According to the consensus forecast, a market P/E of 10.0 for 2026 looks very attractive, writes Petri Deryng, portfolio manager at Finnish fund PYN Elite.
Consulting - Sun, December 21, 2025 | 6:33 pm GMT+7
Mastering AI key to Vietnam’s leap beyond middle-income trap: FPT chairman
Mastering and innovating technology is no longer optional but the sole path for Vietnam to escape the middle-income trap and rise alongside global powers, said tech giant FPT Corporation chairman Truong Gia Binh.
Economy - Sun, December 21, 2025 | 2:33 pm GMT+7
Vietnam among world’s top 15 countries by im-export value: ministry
Vietnam’s import-export turnover is expected to reach $920 billion for the first time in 2025, placing the country among the world’s top 15 by trade value, according to the Ministry of Industry and Trade (MoIT).
Economy - Sun, December 21, 2025 | 11:07 am GMT+7
Dung Quat oil refinery operator BSR targets 187% net profit growth in 2026
Binh Son Refining and Petrochemical JSC (HoSE: BSR), operator of Dung Quat - Vietnam’s first oil refinery, expects net profit to surge in 2026, supported by stable oil price assumptions and a major investment plan to expand and upgrade its core refining assets.
Companies - Sun, December 21, 2025 | 8:00 am GMT+7
Dragon Capital-managed VEIL plans trio of 10% tender offers
Vietnam Enterprise Investments Limited (VEIL), the largest foreign-managed equity fund in Vietnam, has announced a tender offer for up to 10% of its issued share capital, with the option to conduct up to two additional tenders over the next year.
Finance - Sat, December 20, 2025 | 11:19 pm GMT+7
Vingroup builds development hubs across multiple sectors
With the groundbreaking and inauguration of 11 large-scale projects on Friday, Vingroup (HoSE: VIC), Vietnam's biggest listed company by market cap, reinforces its role as a pioneering private enterprise in urban development, infrastructure, energy, and industry.
Investing - Sat, December 20, 2025 | 6:32 pm GMT+7
Kinh Bac breaks ground on $437 mln industrial park in northern Vietnam province Thai Nguyen
Kinh Bac City Development Holding Corp (HoSE: KBC) on Friday broke ground on the VND11.5 trillion ($437.06 million) Phu Binh Industrial Park project in Thai Nguyen province.
Industrial real estate - Sat, December 20, 2025 | 5:46 pm GMT+7
Construction giant Fecon starts work on Hanoi metro line, northern Vietnam rail link
Fecon, a leading Vietnamese construction group, on Friday broke ground on two major rail projects: a metro line in Hanoi and a strategic railway linking the capital city with northern localities.
Infrastructure - Sat, December 20, 2025 | 2:08 pm GMT+7
SJ Group to build smart urban area in western Hanoi to bolster Hoa Lac High-tech Park
Vietnam's leading developer SJ Group JSC is outlining plans for its over 1,200-hectare Tien Xuan Smart Urban Area project in Hanoi, which is expected to be a residential and service hub of the Hoa Lac science and technology city.
Real Estate - Sat, December 20, 2025 | 10:36 am GMT+7
Indonesia to deepen role in global semiconductor supply chain
Indonesia is rolling out efforts to identify opportunities and map its natural resources to support the semiconductor industry, as part of a broader strategy to build domestic industrial capacity.
Southeast Asia - Sat, December 20, 2025 | 9:36 am GMT+7
Indonesia to stop rice imports next year
Indonesia will not import rice for either consumption or industrial use next year, citing sufficient domestic production, according to a government official.
Southeast Asia - Sat, December 20, 2025 | 8:00 am GMT+7
Northern Vietnam port city Hai Phong charts sustainable growth path for free trade zone
The establishment of Hai Phong Free Trade Zone (FTZ) is a strategic direction that will elevate the role and position of Vietnam in general and Hai Phong in particular within the global value chain, heard a conference held in the northern port city last week.
Economy - Fri, December 19, 2025 | 8:12 pm GMT+7
Construction begins on $32.5 bln Red River Scenic Boulevard project in Hanoi
The gigantic project Red River Scenic Boulevard, with a preliminary investment of about VND855 trillion ($32.49 billion) in Phu Thuong ward, Hanoi, broke ground on Friday.
Real Estate - Fri, December 19, 2025 | 4:57 pm GMT+7
Major Vietnamese groups kick off mega projects in south-central Vietnam
Vingroup, BIN Corporation, Hoa Phat, and FPT simultaneously broke ground on large-scale projects in south-central Vietnam on Friday, raising expectations for new national growth momentum in the coming period.
Economy - Fri, December 19, 2025 | 4:36 pm GMT+7
Mega-airport Long Thanh in southern Vietnam welcomes first passenger flights
The first passenger flights touched down at Long Thanh International Airport in Dong Nai province on Friday morning, marking the inaugural civil aviation operation at Vietnam’s largest airport.
Economy - Fri, December 19, 2025 | 2:07 pm GMT+7
