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  • News
  • News in Vietnam
  • 26 January 2022

Kinh Bac aims to make five-time more profit this year

In 2022, Kinh Bac plans to make a profit of VND 4,500 billion, an increase of 5 times compared to last year.

Kinh Bac Urban Development Corporation (KBC) has just said that consolidated profit  in 2021 is expected to reach VND 4,190 billion, up nearly 70% compared to the previous year. KBC’s profit after tax is estimated at 900 billion dongs, up 181% compared to 2020. However, this target is only 45% of the plan.

KBC explained that it made efforts to implement business plans last year but did not achieve the results approved inthe general meeting of shareholders. The main reason is the impact of the outbreak of pandemic in the company’s industrial parks and urban areas such as Bac Ninh, Bac Giang, Hai Phong, and Ho Chi Minh City.

This year, Mr. Dang Thanh Tam’s enterprise aims to achieve consolidated profit of VND 9,800 billion and profit after tax of VND 4,500 billion. From the end of 2021, in Hai Phong, KBC’s expanded Trang Due industrial park has been focused on implementing and completing new establishment procedures by management agencies. This project has been submitted to the Ministry of Planning and Investment for approval.

In Hung Yen, at the end of December, KBC has been granted the decision on investment policy with a project scale of 200 hectares of the industrial park. In Long An, the company is compensating for industrial clusters with the scales of219.8 hectares and 43.52 hectares of social housing areas.

According to the proposal of the upcoming extraordinary general meeting of shareholders, KBC is planning to issue a maximum of nearly 192 million shares worth nearly VND 1,920 billion. In addition, this company has also submitted a plan for a private placement of up to 150 million shares worth 1,500 billion VND. This plan aims to supplement working capital for production and business activities of the corporation, restructure loans, increase the scale of working capitaland invest capital in subsidiaries and joint ventures.

(Source: vnExpress)

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