PHNOM PENH — The Viet Nam Rubber Group (VRG) 's four subsidiaries yesterday kicked off a project to plant 100,000ha of rubber trees in Cambodia's Kratie Province under an agreement between the two countries.
The subsidiaries are the Dong Nai Kratie, Dong Phu Kratie, Phu Rieng Kratie and Loc Ninh Kratie companies.
Addressing the ceremony, Cambodian Deputy Prime Minister Yim Chhay Ly said foreign investors, including the VRG, had played a major role in Cambodia's socio-economic achievements in recent years.
The VRG has planted rubber trees in Cambodia since 2007. Its 11 subsidiary companies were allocated more than 95,000ha of land of which 26,000ha were already planted, according to Tran Ngoc Thuan, its general director.
It plans to plant 50,000ha of rubber trees in Cambodia this year. The entire project is set for completion by the end of next year, with a total investment of US$200 million.
Robusta experiences big month in futures exchange
HCM CITY — Vietnamese robusta coffee had a big month on the London International Financial Futures and Options Exchange in May, with most stocks managing to meet quality specifications.
LIFFE's statistics show that 7,853 lots (equivalent to 78,530 tonnes), or 97 per cent of the more than 8,050 lots of Vietnamese robusta coffee submitted for inspection last month, met the futures market's specifications.
They also accounted for 73 per cent of all robusta from around the world.
In the period from October 2010 to May 2011, Viet Nam exported 1.1 million tonnes of robusta coffee, used mainly for blending, to become the biggest producer and exporter of this type of coffee.
Viet Nam also exports around 25,000 tonnes of arabica coffee, which defines the aroma and taste of the beverage.
Firm scoops up Asia-Pacific architecture award
HCM CITY — Alinco Ltd Co, Viet Nam's top architecture firm, has won the 2011 Asia - Pacific Property Awards in the category of Architecture Multiple Residence for its Tan Son Nhat Golf Course Residential project.
Alinco Ltd is the first Vietnamese company to win in this category.
The awards are given as part of the long-established International Property Awards and its winners' logos are recognised as a symbol of excellence throughout the global industry
Expert highlights benefits of building information
HCM CITY — Architects and designers in the construction industry should use the building information modelling (BIM) process to save cost and improve efficiency, an industry expert told a seminar held in HCM City on Thursday.
The conference, which attracted around 100 architects, designers and consultants, discussed applying BIM to deliver economic, environmental and social benefits, reduce consumption, and save cost and energy.
BIM includes data components representing building elements and characteristics such as materials, weight, thermal resistance and other physical properties that determine building performance.
It helps analyse heating and cooling requirements and water usage, and select building equipment that reduce energy use.
Quang Nam allots 50ha to An Long Viet
QUANG NAM — The central province of Quang Ngai has announced the allocation of a 50ha area in Cam Pho and Thanh Ha communes of Hoi An City for the construction of the An Long Viet Tourism Complex.
The US$137 million project received its investment certificate from local authorities during the first month of the year.
Key investors include the Hungarian Whitestone Investment Hoi An Company Ltd who has been permitted to use of 11 out of the total 50ha in order to develop a property business.
Vinpearl launches luxury, golf projects
KHANH HOA — Vinpearl recently opened two new projects including
Vinpearl Luxury Nha Trang and the Vinpearl Golf Course.
Located on Hon Tre Island, Nha Trang City, the Vinpearl Luxury Nha Trang covers an area of 1,800sq.m, the first tourism complex in Viet Nam to offer a "five-star plus" service.
The Vinpearl Golf Course is the first 18-hole island golf course in Viet Nam, covering an 182ha area in the Vinpearl Nha Trang complex.
In addition, Vinpearl announced a new strategy aimed at sustainably developing, investing in and managing luxury tourism projects with two trademarks called Vinpearl Luxury and Vinpearl Resort.
Construction of the Ba Thien 2 IZ begins
VINH PHUC — The construction of Ba Thien 2 Industrial Zone, assisted by the VinaCapital Group and the Vina CPK Company Ltd, has been kicked off in the Binh Xuan District of northern Vinh Phuc Province.
The US$45.5 million project is set to cover an area of 308ha and will be divided into different phases, the first of which will see the construction of 65ha of infrastructure.
Upon completion, the project is hoped to attract investors focused on light industry, electronics and high technology.
Cu Chi Golf course attracts new investor
HCM CITY — The GS Engineering & Construction Corp said that it planned to partner with the CT Group in further developing a 36-hole golf project in Cu Chi District of HCM City.
The company confirmed that the project would go ahead as planned, but did not release any information pertaining to the exact shares that each company held.
The project, started in 2008, set to have reached completion by 2010, has received several warnings for falling behind schedule.
Government bond auction mobilises $97 million
HA NOI — The State Treasury successfully mobilised VND2 trillion (US$97 million) through the government bond auction held on Thursday on the Ha Noi Stock Exchange.
The auctioned bonds, with two terms of three years and five years worth VND1 trillion ($48.5 million) each, were both sold at the interest rate of 13 per cent per year. Both bonds were issued on May 30 with a face value of VND100,000 ($4.85).
Thus, the State Treasury raised over VND19.41 trillion ($942.4 million) worth of government bonds since the beginning of the year.
Property developer reveals rising profits
HCM CITY — Property developer Hoang Anh Gia Lai (HAG) announced its operating result in Q1, with VND717 billion (US$34 million) in revenue, up 36.6 per cent over the same period last year.
Therefore, gross profit came to VND343.7 billion ($16.4 million), increasing VND115 billion ($5.5 million). Notably, financial revenue reached VND435 billion ($20.7 million), up 120 per cent.
HAG's pretax profit in Q1 reached VND593.7 billion ($28.3 million), up 87 per cent over the same period last year.
Two firms set to buy back shares
HCM CITY — Thu Duc Housing Development Corp (TDH) registered to buy back 2 million of its shares from June 13 to September 13, using its undistributed profit. The company currently does not hold any treasury shares.
Meanwhile, Viet Nam Mechanisation Electrification&Construction Joint Stock Co (MCG) will also repurchase its 2.19 million shares as treasury stocks from June 8 to September 5 to stablise its share price. The total number of treasury shares the company is holding is 3.3 billion.
Companies announce dividend payouts
HA NOI — Both Pomina Steel Corp (POM) and Quang Ninh Construction and Cement Joint Stock Co (QNC) announced they will pay dividends with ex-right date on June 13 and the deadline for registration on June 15.
POM will carry out the cash payouts at 20 per cent on June 30, while QNC will pay by shares at 8 per cent.
Profiting ship builder reveals new business plan
HAI PHONG — Vinaship Joint Stock Co is targeted to earn VND920 billion (US$43.8 million) in revenue and VND35 billion (US$1.7 million) in pretax profit this year. It also aims to invest around $47.5-52.5 million to buy and build new ships.
Vinaship approved the issuance plan to increase its capital from VND200 billion ($9.5 million) to VND300 billion ($14.3 million).
The company last year gained VND938 billion ($44.7 million) in revenue and VND53.5 billion ($2.5 million) in pretax profit, up 103.6 and 133.6 per cent respectively compared to 2009. — VNS