Cen Land transforms into real estate developer with bold goals
Cen Land is shifting from brokerage to development, targeting a 170% revenue increase and 424% profit growth in 2025.
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.
Cen Land is shifting from brokerage to development, targeting a 170% revenue increase and 424% profit growth in 2025.
Menas Group has entered a strategic partnership with Keppel to co-develop an integrated ecosystem of lifestyle services across Keppel’s real estate projects in Vietnam, beginning with the landmark Celesta City development in Saigon South.
Phuc Sinh’s expansion underscores Vietnam’s growing role in sustainable agriculture and its increasing appeal to global investors
PVI Asset Management (PVI AM) and SonKim Capital (SK Capital), a business unit of SonKim Group has announced a strategic collaboration to develop innovative real estate investment products tailored for institutional investors and high-net-worth individuals.
Filum AI has successfully raised $1 million in funding despite a challenging venture capital market, underscoring the potential of AI and shifting investment strategies.
Enterprises are advised to promptly assess and evaluate the impact of the changes in the newly-issued to ensure timely compliance in the upcoming tax finalization period.