TIẾNG VIỆT Becamex estimates 2019 after-tax profit at $73.4 million
VSIP is among industrial park join-venture by Becamex and Singapore's Sembcorp. Photo courtesy of Becamex
Investment and Industrial Development Corporation (UPCoM: BCM) has beat revenue and profit target by 1 percent, according to statement on its website.
The developer of residential areas, urban areas, and transportation infrastructure which is scheduled to pay 2019 dividend of VND800 ($0.03) per share plans 2020 revenue at VND6 trillion ($258.5 million), an increase of 3 percent and an after-tax profit of VND1.75 trillion, up 3 percent against 2019.
Becamex's board of directors approved 2020 from 8%.
In related development, Becamex plans to increase chartered capital in BW Industrial Development JSC (BW Industrial) from VND2.56 trillion to VND4.9 trillion.
It will inject nearly $30.4 million into the joint venture and continue to hold 30% of the company's charter capital.
In May 2018, BW Industrial was launched as a joint venture between global private equity fund Warburg Pincus (70%) and Becamex (30%).
BW Industrial is Vietnam's largest logistics and industrial developer, with more than 200 hectares of industrial land being developed for an investment of over $200 million.
The joint venture has put into operation a total of 230 hectares of industrial land nationwide, attracting several domestic and foreign investors including Ecco, Kaidi, Condor, Watanabe Rubber ...
