Bamboo Capital Aims To Increase Profits, Reaching 311 Billion VND In 2019

(ĐTCK) The Annual General Meeting of Bamboo Capital Joint Stock Company (BCG) on May 10, approved the plan of the year 2019 the with revenue of nearly 3,000 billion VND, up 166% expected profit of 311 billion VND, surpassing the number of 11.32 billion VND achieved in the previous year.

At the meeting, Mr Nguyen Ho Nam, Chairman of BCG's also set the revenue and profit plan for 2020 at 5,630 billion VND and 434 billion VND respectively; in 2021 was 4,498 billion VND and 906.87 billion VND.

Discussing the structure plan in the period of 2019-2021, Mr Nam said: "If in 2019, the revenue was drawn from the real estate market in Quang Nam and Ho Chi Minh City, the revenue in 2020 would come mainly from solar power projects".

Regarding the dividend plan, the meeting approved the expected dividend of 2019 at 20%, of which 10% in cash and 10% in shares. In 2020, it is anticipated that dividend payment will be 10% in cash and 20% in shares.

Information on ongoing real estate projects, Mr Nam said, Malibu Hoi An project in Quang Nam with expected revenue of 3,051 billion VND, is expected to reach 3,000 billion VND this year when handing over in the quarter II, bringing a profit of over 400 billion VND. Condotels have been sold out, and villas have sold 2/3 of the total amount.

King Crown Village project in Thao Dien district with 17 sold-out villas is expected to hand over at the end of this year with 500 billion VND. In stage 2, a 25-storey building will be functioned as a 5-star hotel with a total investment of over 1,500 billion VND.

In addition, BCG is implementing legal procedures for the Casa Marina project in Quy Nhon including 160 villas and the 38-storey PEGAS condominium project in Nha Trang.

With solar energy field, the BCG Bang Duong expects the Gaia Project with the capacity of 40.6 MW and 100.4 MW would be completed and will generate electricity in part before June 2019, and the end of 2019 will produce the rest.

Besides, BCG continues to deploy solar projects in Long An province with a total capacity of 100 MW, one in Dak Lak province with 50MW, three in Ben Tre province with the capacity 500 MW and wind power project in Soc Trang province of 45 MW. BCG's goal is to increase the total capacity to 400 MW in 2019-2020 and 1,000 MW to 2023.

For the BOT 830 project in Long An, Mr Nguyen Thanh Hung, Deputy General Director of BCG, said that the company had been allowed to charge 18 years for auditing. The number of vehicles going through is increasing rapidly.

Emphasizing on a steady growth business plan, Mr Pham Minh Tuan, Deputy General Director of BCG shared, the company believes that it will fulfil the objectives of completing solar energy projects and real estate projects with high-profit margins.