Chairman of Kinh Bac, Mr. Dang Thanh Tam, recently shared with the press about signing a cooperation agreement with Hyatt Group (USA) to build a hotel project [...]
Share at the talk show Select category with the topic "Following the giant" organized by Investment Newspaper, Mr. Dang Thanh Tam, Chairman of Kinh Bac Urban Development Corporation-JSC (KBC-HoSE) said that he signed a contract with Hyatt Group (USA) to invest in a 5 billion USD hotel project in Hai Phong.
Mr. Tam shared that KBC has completed compensation and clearance, the land is ready and the land use fee has been paid. Our partners will join us in investing in a 5 billion USD project to build a 5-star hotel in Hai Phong. This project includes a series of projects such as building 1,000 hotel and resort rooms, not only that, but also 1,000 villas and 1,000 luxury apartments.
Talking about KBC's future prospects, Mr. Tam said that from the beginning of the year until now, KBC has been licensed to invest more than 1,500 new hectares. All projects have been pursued by the company for 5 years. It is expected that this newly licensed 1,500 hectares will bring about 20,000 billion in profit in the next 5 years. Recently, KBC was also licensed to invest in 3 industrial parks with a total area of more than 2,000 hectares and the Company has compensated for clearance and created a ready land fund.
Mr. Tam shared that KBC's land fund is quite large, in addition to the current land fund that will soon be licensed for investment in Tien Giang. He said that the more important issue besides the land fund is attracting good investment, meaning where the State and local authorities allocate land, compensate for clearance and build infrastructure extremely quickly and effectively.
According to the 2021 annual report, as of December 31, 2021, Kinh Bac is managing nearly 5,216 hectares of land for industrial park development (IZ), accounting for nearly 4.22% of the total area of industrial park land in the country and approximately 1,178 hectares of land for urban development (KDT) and residential areas. Of which, 1,013 hectares of industrial park land belonging to 4 industrial parks have been 100% filled and an industrial park with an area of 426 hectares has been filled 96.78%.
According to Kinh Bac leaders, the business will accelerate infrastructure investment and attract investment in industrial parks and urban areas including: Nam Son Hap Linh Industrial Park, expanded Quang Chau Industrial Park, Tan Phu Trung Industrial Park, Phuc Ninh Urban Area, Trang Due Urban Area; Trang Due Industrial Park expanded; Hung Yen Industrial Cluster, Long An Industrial Cluster; Trang Cat mega project.
In addition, KBC has been preparing large-scale industrial park land funds and full infrastructure in strategic locations to meet the diverse needs of investors in terms of area and location with solutions including: Developing existing land funds, establishing new industrial park and urban area projects in some provinces such as Long An, Hung Yen, Tien Giang, Hai Duong, Vung Tau...
Regarding the business situation of the first quarter of 2022, KBC's net revenue decreased by 65.5% to VND 691.6 billion, mainly due to income from land rental and infrastructure, the segment accounting for the largest proportion of total revenue, decreasing by 82.3% from VND 1,794.1 billion to VND 317.2 billion. Profit after tax was 523.3 billion VND, down 26.8% over the same period.
According to the 2022 annual report, the Board of Directors of Kinh Bac Urban proposed a business plan for 2022 including total consolidated revenue of 9,800 billion VND, consolidated profit after tax of 4,500 billion VND. Thus, at the end of the first quarter, revenue reached 7.1% and profit completed 11.6% of the yearly target.
This is an extremely ambitious profit plan, equal to the previous 6 years combined. Compared to 2021, revenue is 2.2 times and profit is 5 times. The Board of Directors believes that the plan is based on the results of attracting FDI last year, the prospects of attracting FDI this year, the need to rent land and factories of potential customers that have been negotiated, and the business's own investment promotion program...
Linh Phong/Fatherland Electronic Newspaper
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