Mr. Dang Thanh Tam's company is about to do a project worth more than 5,500 billion VND.

According to Kinh Bac, the Song Hau 2 project has a scale of about 380 hectares, in Mai Dam town and Phu Huu commune, Chau Thanh district, Hau Giang province. The total investment capital is nearly 5,570 billion VND, of which the cost of technical infrastructure investment is nearly 3,442 billion VND, and the cost of compensation and site clearance is more than 2,128 billion VND.

Regarding investment capital, equity is 835 billion VND, the rest is borrowed capital. The project operation period is 50 years from the date of land allocation and land lease.

Regarding the implementation progress, Mr. Dang Thanh Tam's enterprise plans to apply for approval of the project investment policy within 3 months (from October to December 2023); carry out construction from July 2025 to December 2026 and is expected to be able to sublease the land/factory from June 2026 onwards.

kbc stock.png — *Kinh Bac plans to build the Song Hau 2 Industrial Park project.*

Before Song Hau 2, Kinh Bac invested in building industrial parks in Long An with Tan Lap Industrial Park (Can Giuoc district, scale of 654 hectares, investment capital of nearly 10,000 billion VND) and Loc Giang Industrial Park (Duc Hoa district, scale of 466 hectares, investment capital of nearly 5,200 billion VND).

By the end of 2022, Kinh Bac managed more than 6,386 hectares of industrial park land, accounting for 5.19% of the country's industrial park land fund, an increase of 22% compared to 2021. Kinh Bac's land fund in some industrial parks is almost full.

In the third quarter of 20223, sales and service revenue reached VND 247 billion; consolidated profit in the quarter was VND 18.55 billion, down VND 1,916.53 billion compared to the same period in 2022.

In the first 9 months of the year, Kinh Bac achieved 4,798 billion VND in net revenue and 1,926 billion VND in net profit, 4 times higher in revenue but 5% lower in profit compared to the same period last year.

At the end of the trading session on November 3, KBC shares reached 28,450 VND/share.

Business News

The stock market has a number of other important events of listed companies.

* CLW: Cho Lon Water Supply JSC reported a net profit of more than VND12 billion in the third quarter, down 16% year-on-year. Accumulated for 9 months, net profit reached nearly VND48 billion and exceeded the 2023 profit plan by more than 50%.

* DHC: Dong Hai Ben Tre Joint Stock Company announced the closing of the right to pay the first cash dividend of 2023, at a rate of 10%. The ex-right date is November 24. It is estimated that Dong Hai Ben Tre needs to spend VND 80.5 billion for this dividend payment. The expected implementation date is December 22.

* CMX : Consolidated financial statements for the third quarter of 2023 of Camimex Group JSC recorded revenue of VND 539 billion and net profit of VND 7 billion, down 34% and 74% respectively over the same period.

* CC1: Mr. Le Bao Anh, Vice Chairman of the Board of Directors and General Director of Construction Corporation No. 1 - JSC registered to buy 14 million shares for investment purposes, by negotiation and order matching. Expected transaction time from November 6 to December 5.

* LTG: On November 2, Loc Troi Group Joint Stock Company announced the signing and exchange of letters of intent for a credit package of 90 million USD (more than 2,100 billion VND) with the Netherlands Enterprise Development Bank to finance capital for sustainable rice production.

* TMS: Transimex Corporation's net profit in the third quarter decreased by 58% compared to the same period last year to VND48 billion. In the first 9 months of the year, TMS achieved nearly VND1,652 billion in net revenue and more than VND142 billion in net profit, down 44% and 73% respectively compared to the same period last year; achieving 66% of the revenue plan and 70% of the annual profit target.

* XMC: Xuan Mai Investment and Construction JSC has just announced its consolidated financial statements for the third quarter of 2023 with a net loss of nearly VND 12 billion. Notably, the company plans to pay dividends for the whole year of 2021 at a rate of 7% in cash and 6% in shares in 2022.

* PXS: According to the third quarter 2023 financial statements of Petroleum Metal Structure and Equipment Assembly JSC, net revenue in the period reached nearly 36 billion VND, down 75% compared to the same period last year. As of the end of September 2023, PXS's accumulated loss was nearly 577 billion VND.

VN-Index

At the end of the trading session on November 3, VN-Index increased by 1.31 points (+0.12%) to 1,076.78 points, HNX-Index decreased by 0.22 points (-0.1%) to 217.75 points, UpCOM-Index increased by 0.19 points (+0.23%) to 84.16 points.

VietCap Securities (VCSC) predicts that in the next trading session, VN-Index may continue to fluctuate between resistance at 1,083 points and support at 1,065 points.

If after this consolidation, the demand continues to be boosted to help VN-Index rise above the 1,083 mark, the index will extend its recovery momentum to the resistance level of 1,105-1,110 points. Conversely, if the selling pressure dominates and causes VN-Index to fall below 1,065 points, the index may return to the bottom support level at 1,025 points to regain balance.

According to VNDirect Securities, the recent sharp decline in the market was largely due to pressure on exchange rates, so when the exchange rate cools down, the market may enter a clear recovery phase.

At the same time, after a prolonged correction, VNDirect believes that the stock market valuation has returned to an attractive level. The discount rate based on the P/B of the VN-Index has returned to nearly the same level as the mid-term bottom in November 2022 and the COVID-19 bottom.

Therefore, this is a good time for medium and long-term investors to start accumulating stocks for 2024.

KBC of tycoon Dang Thanh Tam: Revenue increased 4 times, the reason why profit still decreased Due to not being able to hand over industrial park land in this quarter, the company chaired by Mr. Dang Thanh Tam recorded a sharp decrease in profit.

Source