US giant backs Vietnam’s bid to lead ASEAN gas trade
With strategic deals and strong policy alignment from the Vietnamese government, Excelerate Energy aims to anchor Vietnam’s LNG ambitions in the region.
Samsung SDS will become CMC Corporation’s strategic foreign investor should the private placement of 25 million CMC Corporation ordinary shares be approved by its shareholders at the upcoming annual general shareholder meeting in June.
In its file sent to the Ho Chi Minh City Stock Exchange dated May 24, CMC Corporation has announced its plan to issue 25 million ordinary shares to Samsung Group’s ICT arm Samsung SDS in the coming time.
At the price of VND37,500 ($1.63) a share closed on May 28, the value of the share issuance will amount to VND937.5 billion ($40.76 million).
Should the private placement plan be backed by CMC’s shareholders at the annual shareholder meeting to be held on June 26, the local technology firm’s total shares will add up to over 100 million pieces.
PYN Elite Fund currently has 6.1 per cent holdings at CMC Corporation, being the largest foreign shareholder of the company.
According to the company’s consolidate financial statement, pre-tax profit for the first three months of the year was reported at VND57.33 billion ($2.49 million), an up of 47.6 per cent on-year.
On May 25, CMC has signed a strategic partnership agreement with Samsung SDS for a comprehensive cooperation in a wide range of high-tech areas including smart factory, cloud, cyber security, blockchain and big data.
The agreement is believed to help foster Samsung SDS’s expansion in Vietnam while promoting CMC Corporation closer to achieving its $1-billion takings goal by 2023.
With strategic deals and strong policy alignment from the Vietnamese government, Excelerate Energy aims to anchor Vietnam’s LNG ambitions in the region.
Scheduled for completion in 2027, the logistics facility will be the first of its kind in Vietnam significantly boosting parcel processing capacity up to 7 million parcels daily.
Gamuda Land will use the loan to invest in a luxury real estate project in Ho Chi Minh City.
Amid global economic volatility, WHA Group has rapidly rolled out multiple expansion projects in Vietnam, signaling its strategic focus on the country.
Hai Phong Port JSC. has inaugurated international container terminals No. 3 and 4 at Lach Huyen, raising its throughput capacity to 3.5 million TEUs per year.
Hoang Huy expects revenue to exceed VND4 trillion and post-tax profit to reach up to VND2 trillion in fiscal year 2025-2026, targeting annual growth of over 30% for the next five years.