Major Vietnam taxi firm Mai Linh Group (MLC) said on Thursday it expected its 2007 net profit to jump nearly 13-fold from last year to 173.3 billion dong ($10.7 million) due to its enlarged fleet.
The Ho Chi Minh City-based group forecast revenues would reach 3.83 trillion dong ($240 million) this year, Chairman Ho Huy said in a statement.
Huy has said Mai Linh Group, which has added around 1,000 cabs and more than 100 buses to its fleet this year to expand its operation to 50 cities and provinces, would list its shares in August next year.
The firm, which also operates bus services between Ho Chi Minh City and Cambodia, is about 25% owned by foreign investment funds, including Vinacapital and Indochina Capital.
Source: Reuters
Showing posts with label MLC. Show all posts
Showing posts with label MLC. Show all posts
Thursday, June 21, 2007
Wednesday, June 06, 2007
Four new partners add to MLC family
Mai Linh Joint Stock Co (MLC) brought its total number of strategic investors to six after four new investors – IndochinaCapital, Arisaig Asean Fund, Phiem Aizawa Trust and Vina Securities – joined existing investors REE and Investco.
The six strategic investors will hold 24.65% of the preferential and common shares of MLC’s equity, of which, IndochinaCapital holds 14.45% while the Refrigeration Electrical Engineering Co (REE) holds 6.27%.
Earlier, VinaCapital financed VND50 billion (US$3.1 million) worth of converted bonds for MLC, according to a statement made at the latest shareholder’s meeting on Wednesday.
At the meeting, the company announced it had posted a revenue of VND280 billion ($17.5 million) in 2006, for a year-on-year increase of 13% and an after-tax profit of VND13.5 billion (over $840,000).
The firm also increased its charter capital in 2006 from VND68 billion ($4.3 million) to VND380 billion ($24 million). This year, the company plans to raise its capital to VND980 billion ($61.3 million).
During the meeting, it was also decided that the company would convert preferential shares to public shares at a 1:1 ratio from July 1 to 17.
Source: VNN
The six strategic investors will hold 24.65% of the preferential and common shares of MLC’s equity, of which, IndochinaCapital holds 14.45% while the Refrigeration Electrical Engineering Co (REE) holds 6.27%.
Earlier, VinaCapital financed VND50 billion (US$3.1 million) worth of converted bonds for MLC, according to a statement made at the latest shareholder’s meeting on Wednesday.
At the meeting, the company announced it had posted a revenue of VND280 billion ($17.5 million) in 2006, for a year-on-year increase of 13% and an after-tax profit of VND13.5 billion (over $840,000).
The firm also increased its charter capital in 2006 from VND68 billion ($4.3 million) to VND380 billion ($24 million). This year, the company plans to raise its capital to VND980 billion ($61.3 million).
During the meeting, it was also decided that the company would convert preferential shares to public shares at a 1:1 ratio from July 1 to 17.
Source: VNN
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