Kinh Bac City (KBC VN) – Completed the first step of developing a 653-hectare project
The Government approved a subsidiary of Kinh Bac City to invest and develop the Trang Due 3 Industrial Park. This is a substantial project located in Hai Phong, with a land size of 652.7 hectares (about 1,613 acres). Expected investment of VND8.1 trillion (about USD319 million).
Other related projects, Trang Due 1 and Trang Due 2, were all developed by this subsidiary of Kinh Bac City, and both already came into operation in 2019. Kinh Bac City has prepared to convene shareholders for the upcoming EGM, voting for 2025 objectives and other issues. Record date is 3rd February 2025. KBC VN closed at VND29,900 per share on 15th January 2025, thus 54.5x P/E and 1.2x P/B.
Dong Phu Rubber (DPR VN) – Dismissed the Chief Accountant
The Board of the rubber company passed a resolution on dismissing Mr. Pham Ngoc Huy – Chief Accountant, from his post after his two full tenures. At the same time, Mr. Nguyen Huu Viet – Deputy Head of Financial Accounting was authorized to sign all accounting documents of Dong Phu Rubber until appointment of the new Chief Accountant.
The company generated revenue of VND348 billion in Q3 2024 (about USD13.7 million, up +21.8% YoY) and net income of VND44 billion (about USD1.7 million, up +19.3% YoY). DPR VN closed at VND37,250 per share on 15th January 2025, hence 12.7x P/E and 1.3x P/B.
911 Group (NO1 VN) – Establishment of a new subsidiary
911 Group announced its decision to create a new subsidiary with a charter capital of VND20 billion (about USD788,000) and Ms. Nguyen Thi Thom – Chairlady will become representative of 911 Group at its newly founded business. Before that, 911 Group announced its cooperation with T-ZON, a Korea-based corporation, to build an assembly plant, manufacturing ATOM self-propelled cranes for both domestic and export markets. Beside its core operations, 911 Group diversified its portfolio by signing an agreement with PMK Construction Sole – a Laotian company to supply electrical devices to Laos market, and collaboration with Vinfast to build up 911 Taxi with an expected fleet of 2,200 EVs.
Last month, an entity of Mirae Asset Daewoo purchased 100,000 NO1 VN shares, thus becoming a major shareholder with 5.04% ownership. NO1 VN closed at VND9,060 per share on 15th January 2025, therefore 7.2x P/E and 0.7x P/B.
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