New real estate firm lists on HoSE

VietNamNet Bridge - Binh Chanh Construction and Investment Company (BCI) yesterday became the latest listed firm on the board of the HCM City Stock Exchange, bringing the total number to 175.

Having a charter capital of VND542 billion (US$31 million), the BCI has several foreign insitutional shareholders, accounting for over 20 per cent of the total equities. The State holds 28 per cent.

The company focuses on real estate business, investing in developing residential areas, industrial parks as well as industrial and transportation projects.

The company has completed projects including the 81-ha An Lac Binh Tri Dong Residential Area, the 49-ha Tan Tao 4 Residential Area and the 100-ha Le Minh Xuan Industrial Park in HCM City.

Others under development are the Dam Sen Complex, the expansion of Le Minh Xuan Industrial Park and several residential projects, all in the city.

Currently the company is a partner in various businesses, contributing 20 per cent or nearly $4.8 million in a joint venture with a French company for the Big C supermarket system in Viet Nam.

Additionally, it represents 70 per cent in the Bach Binh Real Estate Company, which has a charter capital of VND300 billion.

Last year the company netted a profit of VND129 billion, 88 per cent of the year’s target, but up 87 per cent compared to 2007’s figure, according to general director Pham Minh Duc.

He expects this year’s figure will reach VND199 billion.

VietNamNet/VNS

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