Vinhomes targets record-high revenue of $4.3 bln in 2023
Vinhomes, a subsidiary of Vietnam’s largest listed conglomerate Vingroup, will ask shareholders to approve a 2023 revenue target of VND100 trillion ($4.25 billion) and after-tax profit of VND30 trillion ($1.28 billion).
The target revenue is a record high, up 60% year-on-year, while the target after-tax profit is a 3% increase.
A Vinhomes project in HCMC. Photo Courtesy of the company.
The firm, listed on the Ho Chi Minh City as VHM, aims to push sales of remaining apartments at Vinhomes Ocean Park 2 and 3 in Gia Lam district, Hanoi. It plans to launch new big urban area projects this year, depending on market conditions.
Vinhomes will continue opening two social housing projects named Happy Home for sale in Thanh Hoa and Quang Tri provinces. The firm will also complete the legal process to expand Happy Home to Hai Phong city, Hung Yen province and Khanh Hoa province. This is one of Vinhomes’ development focuses.
The developer is actively promoting investment activities to increase the occupancy rate of industrial real estate projects in Cat Hai district, Hai Phong city.
With the advantage of land funds, experience in project development and factors supporting industry growth, Vinhomes will also finish the legal process and build infrastructure for some industrial park (IP) projects this year.
The firm will research and applying modern industrial real estate models like smart IPs, ecological IPs, and large-scale specialized IPs, it said.
Vinhomes will hold its annual general meeting of shareholers on April 27.
- Related News
- Read More
Ca Mau company director faces legal proceedings for illegal invoice trading
Police in the southernmost province of Ca Mau have launched legal proceedings against Dang Quoc Viet, who established three companies to illegally trade 350 invoices for VND130 billion ($5.12 million).
Society - Fri, May 3, 2024 | 9:00 am GMT+7
IMF makes new recommendations for Indonesia’s economy
The International Monetary Fund (IMF) has given some comments on Indonesia’s economy as the country is undergoing a government transition from President Joko Widodo to President-elect Prabowo Subianto.
Southeast Asia - Fri, May 3, 2024 | 8:40 am GMT+7
Indonesia aims at three-fold increase in EV sales this year
The Indonesian government has set a target for the sales of battery-based electric cars to reach 50,000 units in 2024.
Southeast Asia - Fri, May 3, 2024 | 8:36 am GMT+7
Thailand's economy grows 1% in first quarter
The Bank of Thailand estimates that the country grew by just 1% in the first quarter on both a quarterly and annualised basis, reported the Bangkok Post.
Southeast Asia - Fri, May 3, 2024 | 8:35 am GMT+7
Thailand aims for 5% growth in future food exports
Thailand is targeting future food export growth of 2-5% this year, driven by the global economic recovery and sustainability trends.
Southeast Asia - Fri, May 3, 2024 | 8:34 am GMT+7
Malaysia asserts pioneering role in halal industry
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Southeast Asia - Fri, May 3, 2024 | 8:33 am GMT+7
Indonesia, Malaysia step up defence cooperation
Indonesian Defence Minister Prabowo Subianto and his Malaysian counterpart, Mohamed Khaled Nordin, discussed opportunities for stronger defence cooperation between the two countries at their meeting on Wednesday in Jakarta.
Southeast Asia - Fri, May 3, 2024 | 8:08 am GMT+7
HCMC needs 50,000 apartments per year to meet demand: Savills
Ho Chi Minh City will need about 50,000 new apartments each year to meet demand, with 60-70% in the affordable segment, but current supply is falling way short, according to Savills Vietnam.
Real Estate - Fri, May 3, 2024 | 8:00 am GMT+7
Vietnamese retail majors set for prosperous year after robust Q1
Vietnamese retail majors have reported Q1/2024 profits several times higher year-on-year or turned losses into profit after purchasing power recovered significantly during Tet (Lunar New Year) holiday, market observers say.
Companies - Thu, May 2, 2024 | 10:21 pm GMT+7
Vietnam assigns vice chairman to take charge of parliament
National Assembly standing Vice Chairman Tran Thanh Man has been tasked with running the national parliament after Chairman Vuong Dinh Hue was dismissed from his position.
Politics - Thu, May 2, 2024 | 7:37 pm GMT+7
Vietnam investment environment favorable for strategic M&A opportunities: KPMG
With inflation under control, projected growth of 5.8% and public debt kept manageable this year, Vietnam’s investment environment offers strategic opportunities, especially in M&A, says audit and consulting firm KPMG.
Economy - Thu, May 2, 2024 | 4:59 pm GMT+7
PV Gas sees Q1 net profit go down 26% to $99 mln
PV Gas, Vietnam’s largest dry gas and LPG supplier, earned consolidated net profits of VND2,511.66 billion ($98.96 million) in Q1/2024, down 26.5% year-on-year.
Companies - Thu, May 2, 2024 | 3:38 pm GMT+7
Key infrastructure projects face site clearance issues, material shortages
Progress of the Long Thanh international airport project and component projects for the North-South Expressway’s eastern section in the 2021-2025 period is being held back by uneven site clearance and material shortages.
Infrastructure - Thu, May 2, 2024 | 3:35 pm GMT+7
Ba Ria-Vung Tau province health department head in trouble for bidding rules violations
Legal proceedings have been initiated against Pham Minh An, director of Ba Ria-Vung Tau province's Department of Health for alleged bidding regulation violations related to equipment supply for a hospital.
Society - Thu, May 2, 2024 | 3:21 pm GMT+7
USD weakens slightly against VND after Fed holds rates steady
The U.S. dollar slid against the Vietnamese dong (VND) on Thursday morning hours after the U.S. Federal Reserve (Fed) kept its policy rate unchanged in the 5.25-5.50% range.
Banking - Thu, May 2, 2024 | 11:37 am GMT+7
PV Gas takes delivery of third LNG batch to meet rising power demand
PV Gas, the gas production arm of state-owned Petrovietnam, has taken delivery of its third batch of liquefied natural gas (LNG) to meet demand for power generation as the country battles to cope with a prolonged heat wave.
Energy - Thu, May 2, 2024 | 10:52 am GMT+7
