Vietnam's top forwarder Gemadept Corp (GMD) forecast its profit next year would jump 50 percent from this year as it puts an office building, a port and a warehouse into operation.
"Even if we cannot increase our current business, next year we will have, maybe, a 50-percent profit increase compared to 2007," Gemadept CEO Do Van Minh told Reuters in an interview on Monday at the company's Ho Chi Minh City headquarters.
Minh did not say if the forecast profit was pre-tax or net, but Gemadept has projected an increase in net profit this year of 25 percent to 30 percent from last year's net 156 billion dong ($9.7 million).
Source: Reuters
Showing posts with label GMD. Show all posts
Showing posts with label GMD. Show all posts
Tuesday, September 11, 2007
Friday, August 31, 2007
Bosses try to ease investors’ jitters
The heads of four leading Vietnamese companies met with shareholders yesterday to allay fears amid tumbling share prices.
Investors fired more than 30 questions at bosses of the Refrigeration Electrical Engineering Corporation (REE), the Cables and Telecom Materials Company (SAM), the Gemadept Corporation (GMD) and the Kinh Do Corporation (KDC).
Top of investor concerns was falling prices - despite seemingly sound business performances and potential investment plans.
Sacom General Director Do Van Trac said three factors were chiefly to blame for declining stock values - the State’s macro-economic policies (such as the State Bank of Viet Nam’s decree 03), business results and investor confidence.
He said the most noticeable feature of the Vietnamese stock market was the imitative behaviour of investors.
"Vietnamese investors often follow each others’ decisions, which has a negative influence on share prices," said Trac.
"Investors cannot blame their losses on market factors, they must look to themselves. They should be patient and believe in their companies’ future, rather than just off-loading shares when they find prices go down, which makes the situation worse."
Trac added that he hoped the shareholder meeting would convince investors either to sell their shares or hold onto them.
GMD General Director Do Van Minh said prices had been inflated beyond their real value and that it was only normal to expect them to find their own level.
He said that GMD’s true share price lay between VND160,000 and VND180,000. Next year, if GMD profit’s grow by 30 per cent, as anticipated, investors could expect stock values to rise accordingly.
Investors also raised the issue of foreign ownership, which currently stands at 49 per cent of REE and GMD.
Investors asked if the companies intended to issue more shares to attract greater foreign investment to hike prices.
Minh said: "If the company issues more shares, we will try not to sell directly to foreign strategic shareholders in order to force them to buy on the stock exchange. This can make prices higher."
Trac said foreign investors now owned 40.3 per cent of SAM’s shares. He said if they wished to buy a larger stake in the company they would have to do it through the stock exchange. However, he doubted strategic shareholders would sell.
The chairwoman of REE Management Board, Nguyen Thi Mai Thanh, said her company would only issue more shares as part of its business plan.
On this issue investors expressed concerns about investment in real estate.
Thanh affirmed that REE’s main investments were in property and finance. She said profits from real estate investments this year would be VND100 billion (US$6.2 million), accounting for one-third of the company’s total targeted profit.
Source: VNS
Investors fired more than 30 questions at bosses of the Refrigeration Electrical Engineering Corporation (REE), the Cables and Telecom Materials Company (SAM), the Gemadept Corporation (GMD) and the Kinh Do Corporation (KDC).
Top of investor concerns was falling prices - despite seemingly sound business performances and potential investment plans.
Sacom General Director Do Van Trac said three factors were chiefly to blame for declining stock values - the State’s macro-economic policies (such as the State Bank of Viet Nam’s decree 03), business results and investor confidence.
He said the most noticeable feature of the Vietnamese stock market was the imitative behaviour of investors.
"Vietnamese investors often follow each others’ decisions, which has a negative influence on share prices," said Trac.
"Investors cannot blame their losses on market factors, they must look to themselves. They should be patient and believe in their companies’ future, rather than just off-loading shares when they find prices go down, which makes the situation worse."
Trac added that he hoped the shareholder meeting would convince investors either to sell their shares or hold onto them.
GMD General Director Do Van Minh said prices had been inflated beyond their real value and that it was only normal to expect them to find their own level.
He said that GMD’s true share price lay between VND160,000 and VND180,000. Next year, if GMD profit’s grow by 30 per cent, as anticipated, investors could expect stock values to rise accordingly.
Investors also raised the issue of foreign ownership, which currently stands at 49 per cent of REE and GMD.
Investors asked if the companies intended to issue more shares to attract greater foreign investment to hike prices.
Minh said: "If the company issues more shares, we will try not to sell directly to foreign strategic shareholders in order to force them to buy on the stock exchange. This can make prices higher."
Trac said foreign investors now owned 40.3 per cent of SAM’s shares. He said if they wished to buy a larger stake in the company they would have to do it through the stock exchange. However, he doubted strategic shareholders would sell.
The chairwoman of REE Management Board, Nguyen Thi Mai Thanh, said her company would only issue more shares as part of its business plan.
On this issue investors expressed concerns about investment in real estate.
Thanh affirmed that REE’s main investments were in property and finance. She said profits from real estate investments this year would be VND100 billion (US$6.2 million), accounting for one-third of the company’s total targeted profit.
Source: VNS
Thursday, August 30, 2007
Vietnam's Gemadept to build $410 mln container port
Vietnam's top forwarder Gemadept Corporation will start building a $410 million deep-water container port in early 2008 to handle more transhipments, its chief executive said on Thursday.
"So far transhipments are carried out in Singapore, Taiwan or Hong Kong but when we put the port into operation, ships from the United States could come directly to Cai Mep port for transhipments to regional countries," Gemadept CEO Do Van Minh told reporters.
The government has identified Cai Mep container port as one of five ports to be built in the southern province of Ba Ria-Vung Tau by 2010 to serve the region which handles 70 percent of containers in the country.
The five ports will be used when the government relocates Saigon Port and related facilities from Ho Chi Minh City over the next few years.
"We will strive to start construction in early 2008 and complete it in 2010," Minh said at a conference in Hanoi.
He did not say how much Gemadept would invest in the port which is designed to have a depth of 16 metres.
Minh said Gemadept has been building two more ports in the central region, the $36-million Dung Quat port and the $230-million Nhon Hoi port, each to get a 55 percent of investment from Gemadept.
Shares in Gemadept traded up 0.8 percent to 126,000 dong ($7.8) on Thursday, valueing the company at $336 million.
The Ho Chi Minh City-based company operates ports, provides logistics services including container transport and acts as an agent for several dozen foreign shipping lines.
Its two warehouses of 40,000 square metres are Vietnam's largest facility for stocking coffee.
Minh said Gemadept has also been diversifying its business into property and financial investment.
Source: Reuters
"So far transhipments are carried out in Singapore, Taiwan or Hong Kong but when we put the port into operation, ships from the United States could come directly to Cai Mep port for transhipments to regional countries," Gemadept CEO Do Van Minh told reporters.
The government has identified Cai Mep container port as one of five ports to be built in the southern province of Ba Ria-Vung Tau by 2010 to serve the region which handles 70 percent of containers in the country.
The five ports will be used when the government relocates Saigon Port and related facilities from Ho Chi Minh City over the next few years.
"We will strive to start construction in early 2008 and complete it in 2010," Minh said at a conference in Hanoi.
He did not say how much Gemadept would invest in the port which is designed to have a depth of 16 metres.
Minh said Gemadept has been building two more ports in the central region, the $36-million Dung Quat port and the $230-million Nhon Hoi port, each to get a 55 percent of investment from Gemadept.
Shares in Gemadept traded up 0.8 percent to 126,000 dong ($7.8) on Thursday, valueing the company at $336 million.
The Ho Chi Minh City-based company operates ports, provides logistics services including container transport and acts as an agent for several dozen foreign shipping lines.
Its two warehouses of 40,000 square metres are Vietnam's largest facility for stocking coffee.
Minh said Gemadept has also been diversifying its business into property and financial investment.
Source: Reuters
Wednesday, July 18, 2007
Gemadept, Hyundai to launch joint venture
Gemadept Corporation (GMD) and Hyundai Merchant Marine plan to open Hyundai Marine-Viet Nam after being granted a licence by Ho Chi Minh City authorities.
The 300,000 USD joint venture, which is 49 percent owned by GMD, will sell Hyundai Merchant Marine products and serivces.
Source: VNA
The 300,000 USD joint venture, which is 49 percent owned by GMD, will sell Hyundai Merchant Marine products and serivces.
Source: VNA
Friday, July 13, 2007
Gemadept licensed to build $229 mln port
The Vietnamese freight forwarder Gemadept has obtained the license Thursday to build a VND3.7 trillion (US$229 million) international port in central Vietnam .
The Gemadept Nhon Hoi International Port Joint Stock Company will develop the Nhon Hoi International Port in Binh Dinh province’s Nhon Hoi Economic Zone (EZ).
The two main 480-meter berths will be built in the first stage, allowing the port to accommodate 30,000-ton ships.
The port is designed to have annual cargo throughput of 3 million tons by 2010 and 12 million tons by 2020 when in full performance.
The project is expected begin by the end of September.
The VND70 billion Gemadept Nhon Hoi International Port Joint Stock Company is a joint venture between the Gemadept Corp, Vietnam largest listed freight forwarder, which holds 55 percent of the company, and the Saigon-Nhon Hoi Industrial Park Joint Stock Company and other partners.
The Ho Chi Minh City-based Gemadept Corporation is engaged in one other joint venture in Vietnam that is building a $35 million deepwater seaport in the central Dung Quat EZ – home of the country’s first oil refinery.
The 12,000-ha Nhon Hoi EZ was developed to house industries including agricultural processing, forestry and aquatic products, construction materials manufacturing, seaport logistics, petro-chemistry, manufacturing electronic goods and electric materials; textiles, garments and footwear for export.
The EZ has attracted numbers of projects worth VND9.5 trillion to date focusing on commercial-service-tourism complex, IP infrastructure and telecoms.
Source: Thanh Nien
The Gemadept Nhon Hoi International Port Joint Stock Company will develop the Nhon Hoi International Port in Binh Dinh province’s Nhon Hoi Economic Zone (EZ).
The two main 480-meter berths will be built in the first stage, allowing the port to accommodate 30,000-ton ships.
The port is designed to have annual cargo throughput of 3 million tons by 2010 and 12 million tons by 2020 when in full performance.
The project is expected begin by the end of September.
The VND70 billion Gemadept Nhon Hoi International Port Joint Stock Company is a joint venture between the Gemadept Corp, Vietnam largest listed freight forwarder, which holds 55 percent of the company, and the Saigon-Nhon Hoi Industrial Park Joint Stock Company and other partners.
The Ho Chi Minh City-based Gemadept Corporation is engaged in one other joint venture in Vietnam that is building a $35 million deepwater seaport in the central Dung Quat EZ – home of the country’s first oil refinery.
The 12,000-ha Nhon Hoi EZ was developed to house industries including agricultural processing, forestry and aquatic products, construction materials manufacturing, seaport logistics, petro-chemistry, manufacturing electronic goods and electric materials; textiles, garments and footwear for export.
The EZ has attracted numbers of projects worth VND9.5 trillion to date focusing on commercial-service-tourism complex, IP infrastructure and telecoms.
Source: Thanh Nien
Thursday, May 17, 2007
Gemadept to sell 24.5 mln shares
Gemadept Corporation (GMD), Vietnam's largest listed freight forwarder, said on Thursday it would issue 24.5 million new shares this year or in early 2008 to finance the construction of sea ports and cargo ship purchases.
The issue, slated for the second half of 2007 or the first quarter of 2008, would boost Gemadept's registered capital by 51.6% to 720 billion dong ($44.7 million), Gemadept chairman Do Van Nhan said in a statement.
He did say how much the firm aimed to raise in the issue. Shares in Gemadept closed flat on Wednesday at 168,000 dong ($10.4), valuing the company at $424 million.
The Ho Chi Minh City-based firm would sell 15,834,000 new shares to existing shareholders in a 3-for-1 scheme at a price of between 30% and 50% of the stock's price at the time of sale, Nhan said in the statement.
Gemadept would sell another 6,291,000 shares to strategic investors at a price of at least 80% the stock's price at the time of sale.
The firm would also sell 2,375,000 shares to employees at a price 5% higher than the selling price for existing shareholders, Nhan said.
The proceeds would go to the construction of four sea ports, one building, an industrial zone and to purchase ships, he said without detailing investment in each project.
Gemadept aims for a 15% rise in revenues this year from last year's 1.21 trillion dong ($75 million) and a rise in net profit of up to 30% from 156 billion dong ($9.7 million).
Source: Reuters
The issue, slated for the second half of 2007 or the first quarter of 2008, would boost Gemadept's registered capital by 51.6% to 720 billion dong ($44.7 million), Gemadept chairman Do Van Nhan said in a statement.
He did say how much the firm aimed to raise in the issue. Shares in Gemadept closed flat on Wednesday at 168,000 dong ($10.4), valuing the company at $424 million.
The Ho Chi Minh City-based firm would sell 15,834,000 new shares to existing shareholders in a 3-for-1 scheme at a price of between 30% and 50% of the stock's price at the time of sale, Nhan said in the statement.
Gemadept would sell another 6,291,000 shares to strategic investors at a price of at least 80% the stock's price at the time of sale.
The firm would also sell 2,375,000 shares to employees at a price 5% higher than the selling price for existing shareholders, Nhan said.
The proceeds would go to the construction of four sea ports, one building, an industrial zone and to purchase ships, he said without detailing investment in each project.
Gemadept aims for a 15% rise in revenues this year from last year's 1.21 trillion dong ($75 million) and a rise in net profit of up to 30% from 156 billion dong ($9.7 million).
Source: Reuters
Tuesday, November 28, 2006
Gemadept (GMD) has received the go to issue new shares
The new capital mobilized from the share issue will be invested into the company’s projects, port construction, facilities purchases and real estate.
In the first stage, more than 7 million shares will be sold to existing shareholders and the company staff.
In the second stage, it will issue 5.8 million shares to strategic investors.
Gemadapt shares closed at 148,000 VND on Monday, down 4.51 percent for the day.
The listed logistics firm, with a chartered 200 billion VND (13.3mio US$), has a market share of 23% of the national port operation service.
It expects to earn 1.2 trillion VND (75mio Us$) in revenue this year. Planned revenues for 2007 are to rise by 32% to 99mio US$ and to 111mio US$ (+12%) in 2008.
Gemadept is forecast to reach pre-tax profit of 160 billion VND (9.9mio US$) this year and this figure is set to accelerate to 235 billion VND (14.6mio US$) and VND261 billion VND (16mio US$) in 2007 and 2008 respectively.
In the first stage, more than 7 million shares will be sold to existing shareholders and the company staff.
In the second stage, it will issue 5.8 million shares to strategic investors.
Gemadapt shares closed at 148,000 VND on Monday, down 4.51 percent for the day.
The listed logistics firm, with a chartered 200 billion VND (13.3mio US$), has a market share of 23% of the national port operation service.
It expects to earn 1.2 trillion VND (75mio Us$) in revenue this year. Planned revenues for 2007 are to rise by 32% to 99mio US$ and to 111mio US$ (+12%) in 2008.
Gemadept is forecast to reach pre-tax profit of 160 billion VND (9.9mio US$) this year and this figure is set to accelerate to 235 billion VND (14.6mio US$) and VND261 billion VND (16mio US$) in 2007 and 2008 respectively.
Sunday, November 12, 2006
Gemadept to issue shares
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.
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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