Bamboo Capital to focus on core business activities
Bamboo Capital to focus on core business activities
Bamboo Capital JSC has said it will focus on three main business lines in 2018-20, infrastructure, property and renewable energy.
Speaking at the annual general meeting in HCM City on June 18, Pham Minh Tuan, the company’s deputy general director, said infrastructure and property projects are expected to bring dramatic profits in the medium term.
It has widened provincial roads 830 and 824 in Long An Province and operates them in a joint venture with Bang Duong, he said.
In the second half of this year it would deploy some large property projects such as the US$66 million Malibu resort in Quảng Nam Province, the $198.2 million Dragon Bridge in Da Nang (a mixed-use project comprising retail, hotel, office, and luxury apartment spaces) and the $97.8 million Thao Dien apartment in HCM City, he said.
Also in the second half the company would start building solar energy plants in Long An and develop new projects such as a 150MW wind power plant in Soc Trang and a solar power plant in Quang Nam, he said.
It has tied up with foreign partners and hopes to become a pioneer in the solar field in Viet Nam, he said.
In 2018 production and export of products such as outdoor wooden furniture, cassava starch and coffee have greatly contributed to turnover and profit, he said.
Bamboo targets turnover of VND1.98 trillion (US$86.8 million) this year, almost the same as last year.
Tuan explained that last year Phu Thuan Trading and Services Company contributed VND640 billion ($28.07 million) to the top line, but this year Bamboo had divested its capital at the company as part of its restructure plan.
This year after-tax profit is expected to be VND89.43 billion, a 50 per cent increase, he said.
