Little developer with big plans lists shares

10:07 | 20/10/2010
HCM CITY - The Hoang Quan Real Estate Corporation (HQC) will make its debut on the HCM City Stock Exchange today, listing all its 40 million shares.

The listing price is set at VND38,000 ($1.94) per share with a trading band of 20 per cent on the first trading day.

The company, with a charter capital of VND400 billion ($20.5 million), mainly runs businesses in investment, trade, design, high-rise building constructions, and price assessment.

Truong Anh Tuan, general director of Hoang Quan Corporation, said the company posted net profits of VND80 billion (4.1 million) in the first nine months of this year, an increase of 36 per cent over the last year, fulfilling 40 per cent of its annual target.

In the 2010-2020 period, the company aims to earn net profits of more than VND200 billion ($10.2 million) per year, he said.

This year, it plans to achieve net profits of VND120 billion ($6.1 million) on VND450 billion ($23.07 million) in revenues from leasing contracts in the Binh Minh and Ham Kiem1 industrial zones in the fourth quarter of this year. Together with projects like the Cheery Apartment, Binh Minh residential area and Hoang Quan Ecological Villas, the firm is confident of meeting its set targets.

At present, Hoang Quan has 10 affiliates and representative offices in America, Netherlands and Taiwan. The real estate firm also has a network of large trading floors in HCM City, Vinh Long, Can Tho and Binh Thuan provinces.

It has been implementing several major projects including: the 132ha Binh Minh Industrial Zone; the 30ha Binh Minh residential area; the 146ha Ham Kiem 1 Industrial Zone; the 19,000 sq.m 12-storey Cheery Apartment building; the 3.76ha Hoang Quan Plaza with five apartments and two office blocks; and the 4.5ha Hoang Quan ecological villas.

Besides, the company has also invested in the educational sector with projects like the Long An Industrial Economic University, Tay Nam A Technical Economic Vocational School and Cuu Long Dong Bang University urban area.

It plans to open a stock trading firm, a financial company and a bank by 2020, Tuan said.

VNS

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