HCM CITY (VNS)— Property developer An Duong Thao Dien (HAR) will buy a 51 per cent stake (equivalent to VND25.5 billion – US$1.2 million) in Ascentro Investment and Trading Co.
By so doing, it expands its business into agriculture and forestry.
In June, An Duong Thao Dien spent VND27 billion ($1.27 million) on a 40 per cent stake in Binh Dinh Mechanic and Mineral Co, hoping to reap a 35 per cent profit. An Duong Thao Dien's profits for the first nine months reached VND10.75 billion ($507,000), just 18.3 per cent of its yearly target. The below-par figure was attributed to declining real estate operations. — VNS