Alphanam Electricity and Machinery Co profits for the first quarter will meet company expectations of around VND75 billion, says Board Chairman Nguyen Tuan Hai.
His assessment is based on strong returns from investments made throughout the first three months of the year.
On March 19, Alphanam purchased a 10 per cent stake in Phu Thai Distribution and Investment Group. The company also signed a memorandum of understanding to become a strategic partner in Civil Engineering Construction JSC No 118 (Momota), along with Cable and Telecommunications Material Co (Sacom).
Phan Chi Vinh, Momota general director, said the two co-investors would lend huge support to the company.
Alphanam signed another memorandum of understanding with Sacom to become a strategic partner.
Under the agreement, Alphanam holds 700,000 Sacom shares worth VND7 billion (US$437,500).
Nguyen Quang Huy, Alphanam deputy general director, said that joining forces with Sacom will help the company build a strong portfolio before it holds an initial public offering some time in the second quarter.
Alphanam shares in the over-the-counter market trade at about VND85,000 ($5.30) a piece.
Alphanam is also expanding its business overseas with a $5 million contract with Cambodia’s Amatak Angkor Elevator Co.
Alphanam, established in 1995, primarily produces electronic parts, composites and paints.
Last year, the company earned VND250 billion ($15.6million) in revenue, triple that of 2005, and offered a 30 per cent dividend payment. Revenues this year are expected to reach VND450 billion ($28.1 million).
Source: VNS
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