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Viglacera does well as JSC

Released at: 14:31, 20/04/2015

Viglacera does well as JSC

Corporation will focus on producing high-tech and green construction materials and developing real estate projects in 2015, AGM told.

by Hoang Thu

Viglacera Corporation targets recording growth 6 per cent in 2015 compared with the last six months of 2014 in all sectors of its business. "The corporation will also promote its investment this year in the two core areas of producing construction materials and developing real estate projects," Chairman Luyen Cong Minh told its 2015 annual general shareholders meeting on April 20.

Regarding the production of construction materials, Viglacera focuses on developing green materials under "the production line of energy efficient glass"- one of national high-technology projects approved by the Prime Minister in January. The project is entitled to preferential conditions under the National Program for Developing High Technology to 2020. The corporation also continues to produce other high-quality products, such as autoclaved aerated concrete and clinker bricks, and has increased its use of environmentally-friendly materials at some of its plants. The corporation plans to establish a joint venture to produce sanitary ware and ceramic tiles in Cuba this year.

Regarding real estate, the corporation will continue to utilize 997 hectares of available land at its industrial Parks (IPs) and ensure construction progress at key under-construction projects being expanded to a total of 949 hectares, such as Phu Ha IP, Phong Dien IP, and the expanded Yen Phong IP. The corporation also plans to invest and develop new IPs with a total area of 400 hectares, such as Thuan Thanh IP (Bac Ninh province), Tien Hai IP (Thai Binh province), and Ha Vang IP (Ha Tinh province), and develop housing projects in the social housing segment and the high-end apartment segment.

The corporation has gained approval from the Ministry of Construction to increase its charter capital to VND3.07 trillion ($142 million) from VND2.64 trillion ($122.5 million) and to cut its State-owned capital from 91.48 per cent to 75 per cent. It plans to list on the stock exchange before the fourth quarter of this year.

Viglacera officially converted its operations into the joint stock company model last July. It the last six months of 2014 its business results were 17-88 per cent higher than the targets set at its first annual general meeting on July 2. Among others, its profit reached VND270.6 billion ($12.5 million), 74 per cent higher than planned, and its dividend was 2.5 per cent, as committed.

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