Hoa Phat Group to go all out for Dung Quat 2 venture

HCMC – Native steelmaker Hoa Phat Group (HPG) will chorus from new funding exercise to channel all assets into the Hoa Phat Dung Quat 2 venture, whose worth topped VND75 trillion.

The data was introduced by Tran Dinh Lengthy, HPG’s board chairman, throughout a common assembly of shareholders organized yesterday, March 30.

The venture is slated for completion in early 2025 and anticipated to assist the steelmaker generate additional revenue of VND80 trillion to VND100 trillion.

“We have now the power to compete domestically and globally with larger gamers. HPG would deal with manufacturing high-quality metal merchandise and depart the development metal market to different corporations,” Lengthy mentioned.

Because the venture calls for an enormous amount of cash, the agency wouldn’t pay dividends in money throughout this era, he added.

Final 12 months, the agency posted over VND142.7 trillion in income and VND8.4 trillion in revenue after tax. It appears to acquire VND150 trillion in income and VND8 trillion in revenue this 12 months.

Metal inventory HPG closed the buying and selling session right this moment, March 31, on the reference worth of VND20,800 and reported an identical quantity of greater than 27.7 million shares.

The Hochiminh Inventory Trade ended the ultimate session of the week in bullish temper because the VN-Index prolonged its profitable streak to the ninth straight day with a achieve of 5.2 factors, up 0.49% from Thursday. With 198 winners and 184 losers, the principle index now stands at 1,064.64 factors.

Commerce quantity totaled 639.9 million shares valued at round VND11.8 trillion, barely rising in quantity however a 7.12% rise in worth over the earlier session. There have been practically 65.7 million shares price over VND1.3 trillion traded in block offers, together with 50.2 million SHB shares priced at VND570.4 billion.

Securities inventory SSI took the lead by liquidity with practically 32 million shares altering arms, adopted by VND with 29 million shares.

With 82 shares rising and 75 others dipping, the HNX-Index of the Hanoi Inventory Trade added 1.55 factors, or 0.75% from the session earlier, at 207.5.

The northern bourse recorded over 78.3 million shares valued at VND1 trillion altering arms, with securities inventory SHS taking the lead with an identical quantity of 26.6 million shares.

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