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.
Deputy Prime Minister Vuong Dinh Hue has approved the equitization plan of Hanoi Trade Corporation (Hapro) and Hapro's charter capital after equitization is estimated at VND2.2 trillion (US$97 million) accordingly.
The State will divest all its capital at Hapro by selling 65 per cent of Hapro’s stake to strategic investors.
For investors, the main appeal of Hapro is the firm’s access to prime land plots in central Ha Noi. With the initial offer price of VND12,800 (US$0.56), the strategic investor will have to spend nearly VND1,900 billion to purchase 65 per cent of Hapro’s stake.
In addition, 1,074,000 preferential shares will be sold to Hapro’s employees, accounting for 0.5 per cent of charter capital; The remaining 75,926,000 shares (34.5 per cent of charter capital) will be offered in a public auction.
As of June 2017, Hapro had a total asset of VND3,986 billion (US$175,75 million) and equity of VND1,976 billion (US$87,12million). In the first half of this year, the company obtained revenue of VND1,898 billion (US$83.68 million) and pretax profit of VND13.4 billion (US$590,828).
Hapro is currently operating supermarkets, Hapromart convenient stores, and Unimart-Seika co-branded supermarkets. In addition, the company's revenue is earned mainly from export of agricultural products such as rice, cashew nuts, coffee and handicrafts.
Last year, exports accounted for VND3,545 billion (US$156.3 million) out of total revenue of more than VND4,100 billion (US$180,77 million). In the first half of this year, export turnover reached US$59 million, a 19 per cent year-on-year decline.
Hapro is renting land from the State and pays land rental fee based on the land use plan approved by the competent authority and the law on land management and use. Under the equitization plan recently approved, Hapro must settle any problem regarding house and land (if any) before being officially transformed into a joint-stock company.
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.