Vietjet orders more aircraft; HBC builds social housing in Kenya; HAGL Agriculture plants trees to raise cows in Laos

An Trung Industries sells made-in-Vietnam plastic boxes to Costco; Vietjet orders 20 A330neo aircraft at Singapore Airshow; Hoang Anh Gia Lai Agriculture plants trees to raise cows in Laos; FLC restructuring results

Vietjet orders 20 A330neo aircraft at Singapore Airshow

At the Singapore Airshow 2024, Vietjet Air and Airbus signed an agreement in principle to purchase 20 new generation wide-body aircraft A330neo (A330-900).

Vietjet Air and Airbus announce agreement to purchase A330neo aircraft

This is Vietjet’s largest widebody aircraft order to date and one of the largest at this year’s Singapore Airshow. The aircraft will be operated on the airline’s growing long-haul network as well as on services to high-demand destinations in the region. The new aircraft will replace the airline’s current leased A330-300 fleet and support its network expansion plans.

“We are delighted to partner with Vietjet in the next phase of our expansion,” said Christian Scherer, Airbus CEO. “The A330neo will enable the airline to achieve the lowest possible operating costs per seat and continue to offer our customers the best value on every journey.”

Mr. Dinh Viet Phuong, CEO of Vietjet, said that the new A330neo aircraft is a strategic addition to the comprehensive modernization of Vietjet's fleet, significantly improving the airline's operational capacity to serve the development of its global flight network. The presence of the advanced, fuel-efficient A330neo aircraft in Vietjet's fleet will contribute significantly to Vietjet's sustainable development strategy with ESG goals, reducing net emissions to 0 (Net-Zero) by 2050. "I believe that our passengers will soon benefit from flying on longer, fully-equipped, modern flights at cost savings in the near future," said Mr. Phuong.

Owning a fleet of more than 105 aircraft with a continuously growing number of passengers transported every year, Vietjet is actively expanding its flight network across the continents, developing a new and modern fleet with strategic partner Airbus Group in the near future.

Hoang Anh Gia Lai Agriculture grows crops to raise cattle in Laos

Through written consultation, shareholders of Hoang Anh Gia Lai International Agriculture Joint Stock Company approved the Investment Project for fruit tree cultivation combined with large-scale cattle breeding in Attapeu and Sekong provinces of Laos.

The investor implementing the project is Hoang Anh Gia Lai International Agriculture Joint Stock Company. Nam Lao Agricultural Investment and Production and Business Company Limited is the enterprise implementing the project.

The total investment capital of the Project on Investment in Fruit Tree Cultivation and Large-scale Cattle Breeding in Attapeu and Sekong Provinces of Laos is more than 18,090 billion VND, equivalent to 750 million USD.

The project aims to grow fruit trees (bananas, mangoes, grapefruits, durians), combine with semi-grazing cattle and fattening beef cattle; fruit processing; fiber production; production of organic microbial fertilizers and biological pesticides. Investment is expected to be completed from 2024 to 2028. Operation period is 50 years.

The scale of the project is 27,384 hectares of land with a total investment of more than 18,090 billion VND, equivalent to 750 million USD. Of which, the equity capital is 9,650 billion VND and Hoang Anh Gia Lai International Agriculture will contribute 100% of this equity capital to implement the project through the form of contributing charter capital to the enterprise implementing the above project; the remaining 8,440 billion VND is mobilized from domestic and foreign banks and credit institutions according to regulations.

It is estimated that after completing the investment phase from 2028, the project can bring in annual revenue and profit of VND13,500 billion (USD550 million) and VND2,450 billion (USD100 million). Correspondingly, the profit margin is 18%.

An Trung Industries sells made-in-Vietnam plastic boxes to Costco

Recently, An Trung Industries and retail giant Costco have joined hands to bring high-quality “Made in Vietnam” household plastic food containers to Canada . The first shipment in cooperation with the Costco supermarket chain is clear PP plastic food containers.

An Trung Industries ' plastic box production line

As a subsidiary of Hanoi Plastics (a member of An Phat Holdings Group), An Trung Industries is invested in and owns a modern production line system, imported entirely from Korea, Japan... to meet the strict standards of high-standard markets such as Canada, USA, EU...

Mr. Ngo Van Thu, General Director of Hanoi Plastics, said: “This is the first time An Trung Industries has exported household plastic products but has cooperated with a major partner in the world. Currently, the US plastic household goods import market is up to nearly 8 billion USD/year, this is also the largest plastic household goods importing country in the world, so we will continue to expand production to develop in this market”.

In addition to ISO9001, ISO14001 and HACCP certifications for the manufacturing plant, An Trung Industries' food containers also meet a series of FDA Food Safety certifications, are reusable, dishwasher-safe, microwave-safe, freezer-safe, and leak-proof.

According to the leader of An Trung Industries, the maximum capacity of the factory is expected to be up to 8 million products/year, fully meeting the great demand of customers. In addition, food products are produced in absolutely clean rooms, the preservation process from input materials, and the cleaning of machinery and materials is thorough.

Previously, An Trung Industries also produced other food plastic products such as knives, spoons, forks, straws... and electrical and electronic components to export to Brazil, Taiwan, Philippines, Canada, India, Japan, etc. All shipments received positive reviews from partners and customers.

Costco's full name is Costco Wholesale - a famous American retail chain with a huge number of warehouses and products, present in many major countries around the world. The quality of products at Costco is always carefully checked before being sold. The origin of the products is also always very clear for users to easily follow. Becoming a partner of this brand is not a simple thing when brands must ensure strict standards before and after the product is sold. Thanks to all of the above, Costco is considered a reputable partner affirming the quality between manufacturers and buyers.

Hoa Binh Construction wins bid for 5 social housing projects in Kenya

Hoa Binh Construction Group Corporation (HBC) announced that it has received bids for five social housing projects in Kenya.

Specifically, the Company has received a letter of acceptance for 5 social housing projects from the Ministry of Lands, Public Works, Housing and Urban Development of Kenya. These social housing projects are for the police force, military and students of the University of Kenya.

Hoa Binh Construction Group has received the winning bid letter for 5 social housing construction projects from the Ministry of Lands, Public Works, Housing and Urban Development of Kenya.

Accordingly, HBC will be the general contractor for the design and construction of housing and infrastructure for the following units: Embakasi General Service Training School, Ruiru Police Headquarters, Buruburu General Service Training School Headquarters, Kiganjo National Police Training School, and Kenya Technical University. All five projects have a scale of about 3,400 apartments, with a total contract value of about 72 million USD.

In addition, HBC also received invitations to the next round for two other social housing projects in Kenya. The total number of apartments in these two projects is expected to be about 6,200, with a total contract value equivalent to 91.6 million USD. If Hoa Binh wins the bid for these two additional projects, the total value of social housing construction contracts in Kenya will reach 163.6 million USD.

Regarding operations in Kenya, Mr. Le Viet Hai, Chairman of the Board of Directors of HBC, shared that in the immediate future, Hoa Binh will focus on the segment of contracting for construction of social housing projects, then move on to constructing more high-end projects.

FLC restructuring results

According to information from the second extraordinary general meeting of shareholders in 2024 of FLC Group Corporation, the restructuring process has reduced FLC's human resources, with a 60% reduction in organic staff. This is to balance the organizational structure and stabilize income for more than 3,500 employees, with total salaries and bonuses in 2023 reaching more than 300 billion VND.

The system of member companies and associated companies includes 14 subsidiaries (owning 50-100% of charter capital) and 1 associated company.

Introducing the members of the Board of Directors and Board of Supervisors of FLC for the 2021 - 2026 term

The General Meeting of Shareholders also approved the company's 2024 business plan. Accordingly, FLC plans to continue to promote restructuring and reshaping core areas with three main pillars: real estate, resort business and M&A projects to restructure loans and maintain operations.

Regarding the real estate sector, the Group will continue to implement construction according to its commitment to customers at 7 key projects: FLC Premier Parc Low-rise, C4C5 Thanh Hoa, Ha Long Villa, Tropical 1&2, HH1-HH4. At the same time, there is a plan to implement construction of 6 more projects: Hilltop Gia Lai, Legacy Kon Tum, FLC Sam Son, Sadec, Quy Nhon and Quang Binh project. The goal for 2024 is that the real estate sector will bring FLC nearly 1.2 trillion VND in revenue to continue constructing and completing projects.

The Group will also continue to restructure assets towards retaining good quality assets with high profitability; transferring or cooperating in investment and business of some assets to generate financial resources.

In the hotel and resort tourism sector, FLC will focus on exploiting and operating existing areas such as FLC Ha Long, FLC Sam Son, FLC Quang Binh, FLC Quy Nhon, maximizing room capacity, ensuring cash flow to maintain the business's operations. Along with that, looking for potential partners, negotiating cooperation plans to exploit and operate some items. This sector is expected to bring FLC more than 1.2 trillion VND in revenue and enough profit to maintain operations and fulfill commitments to related parties.

In other areas, FLC aims to continue researching and implementing operations in a number of business areas that have the potential to generate revenue and profit for the Group.

The General Meeting of Shareholders approved the dismissal and election of additional members of the Board of Directors. The new Board of Directors of FLC after the congress consists of 5 members, including Mr. Le Ba Nguyen, Chairman of the Board of Directors, Ms. Vu Dang Hai Yen, Permanent Vice Chairman, and members Ms. Tran Thi Huong, Mr. Le Tien Dung and Mr. Ngo Dang Hoang Anh.

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