On tỷ lệ bóng đá cúp c1 12th of August, even on Sunday, at Caravelle Hotel, HCMC, Petro Vietnam Finance Company - HCMC Branch (PVFC-HCM) and Hoa Binh Construction and Real Estate Corporation (HBC) signed an agreement of strategic cooperation and a memorandum for tỷ lệ bóng đá cúp c1 joint venture in a complex project of complex shopping mall, 5-star hotel, 36 floors at a nice location in tỷ lệ bóng đá cúp c1 center of Nha Trang.

On tỷ lệ bóng đá cúp c1 12^th of August, a Sunday notwithstanding, in a ceremony at tỷ lệ bóng đá cúp c1 Caravelle Hotel, HCMC, PetroVietnam Finance Company HCMC (PVFC-HCM) and Hoa Binh Construction and Real Estate Corporation signed an agreement of strategic cooperation and a memorandum for tỷ lệ bóng đá cúp c1 joint venture regarding tỷ lệ bóng đá cúp c1 construction of a 36-storied commercial center and five-star hotel complex at a nice location in tỷ lệ bóng đá cúp c1 center of Nha Trang, of which tỷ lệ bóng đá cúp c1 land area is 7,000 sq meters and tỷ lệ bóng đá cúp c1 invested capital is US$ 70 million. Vietnam Economic Times has had an interview with Mr. Luu Quang Lam, Director of PVFC-HCM on this event. 

Interviewer: Could you explain why PVFC-HCM bought 1.2 million HBC shares at tỷ lệ bóng đá cúp c1 total price of VND 78 billion (VND 65,000 /share), more cheaply than tỷ lệ bóng đá cúp c1 two foreign investors, Chip Eng Seng of Singapore and Citadel Investment Fund of tỷ lệ bóng đá cúp c1 US did. They bought HBC shares at tỷ lệ bóng đá cúp c1 price of VND 76,920/share. Why did PVFC choose Hoa Binh Corp as a strategic partner?

Mr. LUU QUANG LAM: We negotiated with Hoa Binh Corp before tỷ lệ bóng đá cúp c1 two foreign strategic partners did. We bought 1.2 million HBC shares at a price equivalent to 80% tỷ lệ bóng đá cúp c1 actual price on tỷ lệ bóng đá cúp c1 stock market at tỷ lệ bóng đá cúp c1 time tỷ lệ bóng đá cúp c1 two companies negotiated tỷ lệ bóng đá cúp c1 contract of strategic cooperation.

Through research and studying we know that Hoa Binh is a very prestigious company in tỷ lệ bóng đá cúp c1 field of construction and real estate. It is a trademark which is highly valued (esteemed) by both local and foreign investors, especially those investors who are highly demanding in their requirements about construction quality, execution speed, safety standard and cost sensibility…. Hoa Binh is a partner that can enjoy priority and trust of many companies in tỷ lệ bóng đá cúp c1 areas of construction and real estate among which are big investors from abroad

On July 31, 2007 Hoa Binh also signed contracts of strategic partnership with Chip Eng Sang, a construction company from Singapore and Citadel Investment Fund from tỷ lệ bóng đá cúp c1 US. In tỷ lệ bóng đá cúp c1 past 20 years since it was first established Hoa Binh has developed very fast and has left tỷ lệ bóng đá cúp c1 stamp of its trademark on a lot of projects that are of national scale and very significant to tỷ lệ bóng đá cúp c1 national economy. Apart from that, Hoa Binh has a staff and work force of high professionalism, young and dynamic and very wholeheartedly devoted to their company. As a strong financial institution of tỷ lệ bóng đá cúp c1 National PetroVietnam Group, w are confident that we will be able to bring about and contribute tỷ lệ bóng đá cúp c1 financial strength to Hoa Binh Corp to help it develop and make it become a powerful construction and engineering group.

Interviewer: Could you give us some information about PVFC’s strengths?

Mr. Luu Quang Lam: During tỷ lệ bóng đá cúp c1 7 years of development, PVFC has made a lot of important achievements in all aspects. PVFC increased its chartered capital to VND 3,000 billion at tỷ lệ bóng đá cúp c1 beginning of 2007, and is going to raise it to VND 5,000 billion by tỷ lệ bóng đá cúp c1 end of this year when we complete tỷ lệ bóng đá cúp c1 process of equitization and transforming tỷ lệ bóng đá cúp c1 company into one that operates under tỷ lệ bóng đá cúp c1 parent company model

tỷ lệ bóng đá cúp c1 company’s chartered capital is expected to amount to VND 15,000 – 16,000 billion (approximately US$ 1 billion) in tỷ lệ bóng đá cúp c1 period 2010-2015. Up to 31/7/2007, tỷ lệ bóng đá cúp c1 total assets of PVFC are VND 33,600 billion, and tỷ lệ bóng đá cúp c1 turnover in tỷ lệ bóng đá cúp c1 first 7 months of this year totaled VND 1,887 billion. PVFC’s business network has expanded very fast with its subsidiaries such as: PVFC joint stock real estate company, PVFC Communications Company, PVFC financial fund Management Company….

PVFC itself affirmed since tỷ lệ bóng đá cúp c1 day it was first established (over 4 years ago) its development direction to become an important financial institution on tỷ lệ bóng đá cúp c1 monetary and financial market in tỷ lệ bóng đá cúp c1 southern part of tỷ lệ bóng đá cúp c1 country. In 2004, PVFC-HCM’s total assets amounted to VND 994 billion, was increased to VND 1,884 billion in VND 2005 and reached over VND 3,500 billion in 2006. tỷ lệ bóng đá cúp c1 total turnover for these 3 successive years was respectively VND 99 billion, VND 266 billion and VND 512 billion. tỷ lệ bóng đá cúp c1 projected turnover for 2007 is VND 700 billion. Similarly tỷ lệ bóng đá cúp c1 profit in these years was VND 7.5 billion, VND 27 billion and VND 53 billion respectively. tỷ lệ bóng đá cúp c1 projected profit for 2007 is VND 120 billion.

PVFC has planned to do IPO towards tỷ lệ bóng đá cúp c1 end of September 2007 in order to carry out equitization with tỷ lệ bóng đá cúp c1 ratio 30% of tỷ lệ bóng đá cúp c1 chartered capital, (about VND 1,000 billion –– tỷ lệ bóng đá cúp c1 projected chartered capital by 31/7/07 is expected to reach VND 3,000 billion). 70% of PVFC’s chartered capital will be owned by tỷ lệ bóng đá cúp c1 state. At present PVFC is carrying out negotiations to find foreign strategic partners and there are more than 10 big financial groups and organizations in tỷ lệ bóng đá cúp c1 world wishing to invest into PVFC

(Hoang Loc - Vietnam Economic Times - 15/8/2007)

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