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Foreigners grab bigger stakes in HHS

Update: May, 13/2015 - 07:56

Hoang Huy Group manufactures and imports the DONGFENG brand trucks . — VNS Photo

HA NOI (VNS) — Two foreign investors recently purchased a 11.45 per cent stake in Hoang Huy Investment and Service Joint Stock Company (HHS).

The Ton Poh Thailand Fund last week bought more than 5.9 million HHS shares, amounting to a 5.32 per cent stake.

Established in Bangkok 10 years ago, the Ton Poh Fund has invested in companies that show potential to achieve high and sustainable long-term returns. Recently, it bought 2.5 million shares and became the largest shareholder of the local firm Coteccons Construction JSC (CTD).

At the same time, Finland's Mutual Fund Elite bought 897,670 HHS shares to increase its total holdings to 6.08 million shares, or a 6.13 per cent stake.

HHS, which was established in the northern Hai Phong City in 2008, has a charter capital of VND573.6 billion (US$26.55 million). It specialises in manufacturing and importing medium-size and heavy trucks of the DONGFENG – Hubei brand.

In the real estate market, HHS owns the Golden Land Building in Thanh Xuan District in the capital city.

HHS earned its largest-ever revenue of VND1.123 trillion ($51.9 million) and after-tax profit of VND246 billion ($11.38 million) in the first four months of 2015.

The group said it would hold the general meeting of shareholders on May 18 in Hai Phong City.

HHS share, which was listed on the HCM City Stock Exchange in 2012, yesterday closed at VND22,900 ($1.06). — VNS

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