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FLC Group to list on Singapore exchange

Update: August, 05/2014 - 09:19
FLC Group meets with Singaporean partners in Ha Noi — VNS Photo

HA NOI (VNS)  — FLC group has, in Ha Noi, worked out the finer points with its Singaporean partners about its plan to list on Singapore's stock exchange.

It was the second meeting between the group and the Singaporean financial consulting company Putri Resources&Capital Pte Ltd and the United Overseas Bank (UOB) after the first one in April 2014 with regard to the plan.

FLC chairman Trinh Van Quyet said that the group has successfully listed on the local stock exchange and it aimed to list in other countries to attract more investment for its growing projects.

Quyet said Singapore was one of the biggest financial centres in the Asian market, adding that listing in the market would give FLC an opportunity to boost its managing capacity and transparency.

Meanwhile, Ernie Yap, Director of Putri Resources&Capital said the financial reports proved that FLC met all the requirements to be listed on Singapore's mainboard without being listed on its auxiliary exchange of Catalist. The director also said not all the companies in Viet Nam can meet the requirements.

Daniel Lim Jin Kong, Deputy Chairman of UOB, while appreciating what the group has achieved, added that a listing in Singapore will help the group enhance its managing standards to international levels.

In the first six months, profit before tax and after audit of the FLC Group reached over VND177 billion (US$8.428 million), completing 51 per cent of the whole year's profit plan in 2014.

Since early this year, FLC has kicked off constructions of the FLC Garden City in Dai Mo with the total investment of VND3.5 trillion ($166.6 million), FLC Complex Pham Hung at the cost of VND1.2 trillion ($57.1 million) in Ha Noi and international standard FLC Sam Son Golf Links in Sam Son, Thanh Hoa with an investment of VND5.5 trillion ($261.9 million). — VNS

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