In a document sent to the authorities, Mr. Le Viet Hai, Chairman of the Board of Directors of Hoa Binh Construction (HBC), said that the enterprise has been and is implementing comprehensive restructuring to improve the efficiency of production and business activities and overcome the crisis.
It is expected that HBC will increase capital by issuing shares. The maximum number of units expected to be issued is 274 million, the expected issuance price is 12,000 VND/share, the total value is 3,288 billion VND. Of which, HBC will issue 54 million individual shares, the price is 12,000 VND/share, the total value is 648 billion VND to swap debts with suppliers and subcontractors. The expected implementation time is in 2023-2024.
According to Mr. Le Viet Hai, the period of 2023-2024 is forecasted to be the peak of public investment disbursement. Based on its reputation and capacity in the industry, HBC will participate in bidding for potential projects and increase the proportion of revenue in the infrastructure sector.
Regarding debt, HBC mobilizes maximum human resources to serve the work of collecting outstanding debt, using many effective measures to collect debt including resolving debt disputes through economic courts or international arbitration.
Mr. Hai said that Hoa Binh's goal is to ensure a balanced cash flow in the short term to maintain continuous operations and restore a growth rate of 30-40% in revenue in the next 5 years.
In the third quarter of 2023, Hoa Binh Construction recorded revenue of VND 1,893.29 billion, down 49.9% year-on-year; profit after tax of parent company shareholders recorded a loss of VND 168.45 billion compared to a profit of VND 6.28 billion in the same period.
Accumulated in the first 9 months of 2023, Hoa Binh Construction recorded revenue of VND 5,355.85 billion, down 50.9% over the same period; profit after tax of parent company shareholders recorded a loss of VND 879.9 billion compared to the same period of profit of VND 63.6 billion.
Listed company news
The stock market has a number of other important events of listed companies.
* BID : BIDV Bank approved the implementation of a plan to issue individual bonds with a total value of VND 5,500 billion, par value of VND 100 million/bond, term of 5 years or more, maximum issuance quantity of 30 batches. Expected implementation time in the fourth quarter of 2023.
* VCG : According to the separate financial statements for the third quarter, Vinaconex achieved 1,219 billion VND in revenue, and the parent company's pre-tax profit reached 86.2 billion VND. In the first 9 months, the corporation achieved 5,328 billion VND in revenue. The parent company's pre-tax profit reached 165 billion VND.
* BCG : According to the third quarter 2023 financial statements, Bamboo Capital recorded revenue of VND 1,017.9 billion. Consolidated profit after tax reached VND 9.1 billion. By the end of the third quarter 2023, Bamboo Capital's total assets reached VND 42,976.6 billion, a slight decrease of 1.9% compared to the beginning of 2023.
* PAN : In the third quarter of 2023, PAN Group recorded consolidated net revenue of VND 3,703 billion, with accumulated revenue of VND 9,008 billion in the first 9 months of 2023. In the first 9 months of 2023, PAN completed about 60% of the revenue plan and 50% of the net profit plan for shareholders.
* VNS : Tael Two Partners Ltd, a major shareholder of Vietnam Sun Corporation, registered to sell 2.5 million shares from November 6 to December 5 by negotiation and order matching.
* BCM : Industrial Development Corporation approved to contribute more than VND 517 billion in capital to Vietnam - Singapore Industrial Park Joint Venture Company Limited (VSIP JV). Implementation time in the fourth quarter of 2023.
* KPF: Mr. Nguyen Khanh Toan, Chairman of the Board of Directors of Koji Asset Investment JSC, registered to buy 3 million shares from November 6 to December 5 by negotiation and order matching.
* HUB : Ms. Nguyen Thi Phuong Hoa, a major shareholder of Thua Thien Hue Construction JSC, sold nearly 2.9 million shares in the session on October 26 and 27. Ms. Hoa still holds 2.16 million shares, accounting for 8.23%.
* HTN : Hung Thinh Investment JSC, a major shareholder of Hung Thinh Incons JSC, sold more than 5.84 million shares from October 24-26 by negotiation.
VN-Index
At the end of the session on October 31, VN-Index decreased by 14.21 points (-1.36%), down to 1,028.19 points. Total trading volume reached more than 755.5 million units, worth VND 14,881.7 billion.
HNX-Index decreased 5.17 points (-2.44%) to 206.17 points. Total matched volume reached more than 102.6 million units, worth VND1,814.8 billion.
UpCoM-Index decreased by 1.35 points (-1.64%) to 80.93 points. Total matched volume reached more than 35 million units, worth VND513.7 billion.
Market assessment, KB Securities Vietnam (KBSV) said that strong selling pressure on some large-cap stocks has had a negative impact on the entire industry group, putting the market situation at a riskier level.
The downtrend is still playing the main role. The index is still likely to face the risk of falling back to around the support level of 1,000 (+/-15) points. Investors are recommended to sell to reduce the proportion in the early recovery sessions.
According to SHS Securities, VN-Index is still at risk of continuing to decline to the next support levels but can also recover technically in the coming sessions. Short-term investors should stay out of the market and observe market developments and take advantage of recovery periods to reduce the proportion of stocks in their portfolio if they are holding a high proportion of stocks.
For medium and long-term investors, the market has been confirmed to have bottomed out at 950 points. Although the uptrend has ended, there is a high possibility that the market will enter an accumulation zone again.
Therefore, long-term investors do not need to worry too much. If the structure is good from the beginning, they can continue to hold the portfolio and wait for the market to stabilize again.
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