Vingroup sets up another Vinhomes company

Wednesday, Dec 10, 2014 17:13

Vinhomes Tan Cang in HCM City is one of Vingroup real estate projects in the local market.— Photo

HA NOI (Biz Hub) — Vingroup (VIC) established another Vinhomes real estate company with a charter capital of VND6 billion (US$282,000) in early December, the group announced on the HCM City Stock Exchange (HSX) recently.

In the Vinhomes 2 real estate company, Vingroup has contributed 94 per cent of the capital. The headquarters of Vinhomes 2 is located at No 7, No 1 Bang Lang Road in Vinhomes Riverside, in the capital's Long Bien District. It has not yet been disclosed as to who has contributed the rest six per cent of the company's capital.

Listed on HSX as of November 3, 2014, Vingroup has VND14.53 trillion ($682 million) in charter capital and has 51 subsidiaries.

According to the financial website, in 2014, Vingroup either established or acquired shares in many subsidiaries, including the e-commerce company VinEcom, Tan Lien Phat, the investor of Vinhomes Tan Cang in HCM City, and the Hong Ngan Real Estate Company.

Vingroup earned VND21.524 trillion (US$1.007 billion) in net revenue and an after-tax profit of VND3.4 trillion ($160.8 million) in the first nine months of 2014, an 86 per cent and 82 per cent year-on-year increase respectively.

On December 10, each VIC share closed at VND48,700 in the local market. — VNS

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