Shares of the General Forwarding and Agency Corp (Gemadept) are seen as the four most attractive securities by foreign investors together with Vinamilk, Sacombank and REE.
Concerning revenue, Gemadept is one of the market’s leaders in forwarding and transportation with an estimated rise of 1.2 trillion dong this year. In 2007 and 2008, their revenue will be increased to 1.6 trillion and 1.8 trillion dong equalling a 32% and 13% rise when compared with previous years. Their financial report for the first three quarters showed 829 billion dong revenue and 103 billion dong after-tax profit. The company is completely capable of posting a 160 billion dong pre-tax profit this year and this figure will be accelerate to respectively 235 billion dong and 261 billion dong in 2007 and 2008.
According to assessments from foreign financial organisations, Gemadept's strong points lie in package services or one-stop services that help reduce expenses therefore increasing competitiveness for producers and importers. With an annual export growth of about 25% of the economy, the revenue and profits of forwarders and transporters are likely to soar up strongly and this also points to the great potential that Gemadepts has to develop.
More importantly, Gemadept is operating large two project groups including construction and development of port infrastructure and real estate.
Foreign investors buy shares of Gemadept under the form of agreement and order-matching in the last three months.
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