Duc Giang Chemicals replaces General Director; Saigon Port raises capital for super port

Duc Giang Chemicals replaces General Director; Sao Ta's 2-month sales increase by 54%; Thac Ba Hydropower plans to... go backwards; Saigon Port prepares to raise capital for Can Gio international "super port"; Taseco invests heavily in high-end services at T3 Tan Son Nhat.

Duc Giang Chemicals replaces General Director; Saigon Port raises capital for "super port"

Duc Giang Chemicals replaces General Director; Sao Ta's 2-month sales increase by 54%; Thac Ba Hydropower plans to... go backwards; Saigon Port prepares to raise capital for Can Gio international "super port"; Taseco invests heavily in high-end services at T3 Tan Son Nhat.

Taseco invests heavily in high-end services at T3 Tan Son Nhat

Taseco Aviation Services Joint Stock Company approved a resolution to contribute capital to invest in building a waiting room and restaurant at passenger terminal T3 - Tan Son Nhat International Airport.

Taseco is currently a leading enterprise in the field of providing non-aviation services.

Accordingly, Taseco will cooperate with Taseco Saigon Aviation Services JSC in a joint venture model to expand the non-aviation service ecosystem at the country's largest airport. This is a strategic move to take advantage of opportunities from the new T3 Tan Son Nhat terminal, which is expected to solve the overload situation at Vietnam's largest airport.

Specifically, this joint venture will deploy two main service categories, including CIP/VIP Room services and restaurant services with a total expected investment of nearly 106 billion VND.

Taseco holds 70% of investment capital in both categories.

The project's capital will be 100% from the equity of both parties and is expected to be completed in the second and third quarters of 2025.

The investment decision comes as Taseco records a positive business situation thanks to the strong recovery of international tourists . In 2024, the Company recorded net revenue of more than VND 1,330 billion and net profit of more than VND 148 billion, up 21% and 29% respectively compared to the previous year.

Taseco is currently a leading enterprise in the field of providing non-aviation services with a network of 102 stores spread across major airports across Vietnam, including Hanoi , Da Nang and Ho Chi Minh City. The Company's diverse service portfolio includes souvenir shops, duty-free goods, restaurants and fast food chains, business lounges, advertising services, and hotel management.

Saigon Port prepares to raise capital for Can Gio international "super port"

  Saigon Port aims to increase pre-tax profit by 40% in 2025, and announced an investment plan for the Can Gio international transit port project.

Can Gio International Transit Port Model.

In 2025, Saigon Port JSC targets consolidated revenue of VND1,214 billion, down 13% compared to 2024. However, pre-tax profit is expected to increase sharply by 40% to VND316 billion.

In 2024, SGP will achieve consolidated revenue of nearly VND 1,389 billion, a sharp increase of 43% compared to 2023, exceeding the annual plan by 26%. However, pre-tax profit will decrease by 27% to below VND 225 billion, only reaching 95% of the annual profit target.

The leaders of Saigon Port Corporation predict that in 2025, the Company will be affected by many objective impacts from the activities of joint ventures, changes in policies and mechanisms. The construction of Thu Thiem 4 Bridge, expected to start in 2025, will affect customer psychology. The exploitation area at Tan Thuan Port has been narrowed, reducing the ability to receive ships. The relocation of Nha Rong - Khanh Hoi area has affected exploitation activities.

To cope, SGP will seek new customers, focus on development in Hiep Phuoc, Tan Thuan, Ba Ria - Vung Tau areas, and develop value-added services to compensate for the decline in output.

Saigon Port Corporation said it will maximize operating capacity at Tan Thuan port, upgrade and renovate yards, speed up equipment rental at Saigon - Hiep Phuoc port and cooperate with partners to develop in the Cai Mep - Thi Vai area.

In preparation for the Can Gio international transit port project, Saigon Port will develop a plan for capital sources and investment phases. This project, proposed by a joint venture between SGP and Terminal Investment Limited Holding SA, has a scale of 571 hectares, a total investment of no less than VND50,000 billion, and is expected to be put into operation in 2045.

Previously, on January 16, 2025, Deputy Prime Minister Tran Hong Ha signed Decision No. 148/QD-TTg approving the investment policy for the Can Gio international transit port project.

According to the report, Saigon Port JSC plans to invest more than VND104 billion and spend more than VND140 billion on equipment repairs and construction in 2025, totaling VND244 billion.

Vinh Son – Song Hinh Hydropower Plant sets cautious goals

Vinh Son - Song Hinh Hydropower Joint Stock Company aims for slight growth in revenue and profit amid unfavorable hydrological forecasts in the Central and Central Highlands regions in 2025.

The company aims to produce 1,945 million kWh of electricity by 2025.

According to the 2025 Annual General Meeting of Shareholders document, Vinh Son - Song Hinh Hydropower Plant said that based on the hydrological situation and forecast of water volume, the Company's production and business situation in 2025 may face many difficulties. The ongoing El Nino phenomenon may affect the Central and Central Highlands regions.

In addition, the 2025 electricity market operation policy continues to be unfavorable when the alpha rate (payment according to contract price) increases to 98%, and Qc is determined through monthly operating mode planned output. This greatly affects the revenue rate of participating in the electricity market of plants.

Therefore, the Company aims to achieve electricity production of 1,945 million kWh and commercial output of 1,916 million kWh in 2025. Expected revenue is nearly 1.9 trillion VND, a slight increase of 1.4% compared to 2024; target after-tax profit is over 541 billion VND, an increase of 21%.

Although the planned profit increased sharply, the actual reason was that the base level of the same period was too low, when VSH only had a profit after tax of VND 448 billion, down 55% compared to the previous year. VSH said that in 2024, it faced many hydrological disadvantages due to El Nino, as well as the impact of the 98% Alpha coefficient (hydropower enterprises prioritize low alpha coefficients to participate more in the competitive electricity market), leading to a decline in results.

Thac Ba Hydropower Plant plans to... go backwards

In the recently announced 2025 Annual General Meeting of Shareholders document, most production and business targets are lower than those achieved in 2024.

In 2025, the Company plans to have revenue of nearly 505 billion VND, down 7% compared to the previous year.

Specifically, in 2025, the Enterprise plans to have revenue of nearly 505 billion VND, down 7% compared to the previous year; target profit after tax is 198 billion VND, down 13.5%.

Electricity production and consumption targets also declined, with targets of 530 million kWh and 521 million kWh, respectively, down 6% and nearly 7% compared to the previous year. The Board of Directors also proposed a 2025 dividend of 20%, equal to the 2024 rate.

Regarding personnel, the 2025 General Meeting of Shareholders is expected to approve the resignation of Ms. Lai Le Huong - Member of the Board of Supervisors. Ms. Huong is a representative of shareholder REE Energy Company Limited (a 100% owned subsidiary of REE) participating in the Company's Board of Supervisors, and resigned due to a change in representative.

The replacement nominee is Mr. Hoang Kim Minh (born in 1994), with a Bachelor's degree in Auditing, also a representative from REE Energy. Mr. Minh is also an internal control specialist at REE.

Sao Ta's 2-month sales increased by 54%

The Soc Trang-based shrimp exporter has been reporting record sales. Sao Ta has just reported its February 2025 performance, with sales reaching $21 million, up 85% year-on-year.

Sao Ta's sales will start to increase sharply from the third quarter of 2024 as the Company aims to increase exports to the US market.

Due to the difference in the timing of Lunar New Year each year, a cumulative comparison of 2 months would be more useful.

Accordingly, in the first two months of this year, the enterprise led by Mr. Ho Quoc Luc achieved revenue of 46.9 million USD, an increase of nearly 54% over the same period. Production output and consumption output both increased by double digits. According to the latest report, Sao Ta said it has completed harvesting shrimp in the new farming area and is harvesting in the old farming area.

Sao Ta's sales began to increase sharply from the third quarter of 2024 as the company aimed to increase exports to the US market. However, profits were held back by transportation costs as well as taxes related to trade litigation.

The tough earnings environment has made the stock market hesitant to pay higher prices for stocks, despite companies reporting strong sales growth.

Duc Giang Chemicals changes General Director

Duc Giang Chemical Group Joint Stock Company changes senior leaders in the context of the Company's upcoming 2025 Annual General Meeting of Shareholders.

Duc Giang Chemicals has just dismissed Mr. Dao Huu Duy Anh from his position as General Director so that he can assume the new position of Permanent Vice Chairman of the Board of Directors for the appointment period from 2024-2029.

Mr. Dao Huu Duy Anh took on the new position of Permanent Vice Chairman of the Board of Directors.

Mr. Duy Anh is the son of Mr. Dao Huu Huyen - Chairman of the Board of Directors of DGC (currently holding more than 18% of capital here).

He is also holding many positions at other organizations such as Member of the Board of Directors of Vietnam Apatite Phosphorus JSC, Member of the Board of Directors of Tia Sang Battery JSC and Chairman of Duc Giang Dak Nong Chemical One Member Co., Ltd.

Deputy General Director Luu Bach Dat was appointed as General Director to replace Mr. Duy Anh. The appointment period is 5 years, effective from March 3.

DGC changes senior leadership in the context of the Company's upcoming 2025 Annual General Meeting of Shareholders on March 31 in Hanoi.

According to the document, Duc Giang Chemical Group plans to submit to shareholders a production and business plan with a total consolidated revenue of VND 10,385 billion and a profit after tax of VND 3,000 billion, down 1% and 4% respectively compared to 2024. The company also plans to pay dividends in 2025 at a rate of 30%.

For the 2025 basic construction investment plan, DGC plans to build the Duc Giang Nghi Son Chemical Complex worth VND 1,200 billion; complete the Dak Nong alcohol factory worth VND 50 billion; research to upgrade and expand the Tia Sang Battery factory worth VND 40 billion; repair and upgrade the detergent factory in Hung Yen;...

Source: https://baodautu.vn/hoa-chat-duc-giang-thay-tong-giam-doc--cang-sai-gon-huy-dong-von-cho-sieu-cang-d251425.html