$2 billion enterprise "moves house" to Ho Chi Minh City, allowed to research urban railway

(Dan Tri) - Becamex is currently one of the industrial real estate enterprises with the largest assets in Vietnam with 57,291 billion VND as of June 30 (more than 2 billion USD).

Becamex IDC (stock code: BCM) has just received 98.48% of shareholders' approval to change its name to Becamex Industrial Investment and Development Corporation - JSC (Becamex Group). The company also moved its headquarters from Binh Duong province to Ho Chi Minh City.

This happened after Binh Duong province merged into Ho Chi Minh City on July 1 and all state capital in the enterprise was taken over by the Ho Chi Minh City People's Committee.

At the end of June, the Board of Directors of Becamex IDC dismissed General Director Pham Ngoc Thuan and appointed Mr. Nguyen Hoan Vu as General Director and legal representative. The enterprise is promoting its development strategy with 6 major projects starting this year with a total investment of about 60,000 billion VND, including traffic infrastructure and key industrial zones.

On October 1, Becamex had a working session with the Ho Chi Minh City People's Committee and was assigned to research urban railway projects in Ho Chi Minh City. This group is aiming to become the leading industrial and urban development group in the Southern region.

Becamex is currently one of the industrial real estate enterprises with the largest assets in Vietnam with VND57,291 billion as of June 30 (more than USD2 billion).

In terms of business, in the first half of this year, Becamex achieved a net profit of VND1,825 billion, nearly 5 times higher than the same period last year.

As of June 30, the company had total assets of more than 2 billion USD, mainly allocated to receivables and inventories. Cash and cash equivalents were quite modest, only about 2,833 billion VND.

The company also has outstanding debt of more than VND35,878 billion, of which loans account for VND22,360 billion. The company's equity is at VND21,413 billion. The company has "savings" with more than VND3,000 billion in development investment funds and VND7,820 billion in undistributed after-tax profits.

Source: https://dantri.com.vn/kinh-doanh/doanh-nghiep-2-ty-usd-don-nha-ve-tphcm-duoc-nghien-cuu-duong-sat-do-thi-20251006142430234.htm