Many enterprises set higher business targets in 2011

Growth and restructuring are highlights in the business plans in 2011 announced recently by listed firms.

Large firms such as Hoang Anh Gia Lai (HAG), Hoa Phat (HPG), Phu My Fertiliser (DPM) built business plan in 2011 with growth of 15-20 percent against the actualised figure in 2010. Some medium sized enterprises also announced optimistic business plan in 2011.

Tan Binh Investment and Export-Import Joint Stock Co (TIX) is seeking shareholders’ opinion at the shareholders’ meeting on January 15, 2011 on this year’s business targets with 93.7 billion dong of after tax profit, up 24.1 percent year-on-year and 885.8 billion dong in revenue, rising 20.6 percent y-o-y.

Tran Quang Truong, TIX’s deputy general director, said that his firm established a joint venture company in the US to support export and trade activities in the US market.

Phung Quang Ha, general director of PetroVietnam general Service Joint Stock Corp (PET), said that his firm’s revenue in 2010 is estimated at 10 trillion dong and pre tax profit at 240-250 billion dong. In 2011, the company’s figures are targeted at over 10 trillion dong and 220 billion dong respectively. According to Ha, although this target is not high as in 2010, but the company always exceeds the target.

Notably, in 2011, PET will make a restructuring. In 2010, PET reduced four members via dissolution or merger. In 2011, from six members with 100 percent stake held by PET, the company will make equitisation for four members to keep only two ones.

At its real estate project in Thanh Da, HCM City, a joint venture with the investor of Saigon Pearl project, PET invested 51 percent of the investment capital. The project with a total investment of about 1.6 trillion dong is expected to start construction in Q1 this year.

PetroVietnam Fertiliser and Petrochemical Corp (DPM) will also focus on restructuring for its membership companies in 2011 with an aim to list two joint stock companies by the middle of this year.

After crisis, large private groups are also continuing to make restructuring to focus on sectors with high profitability.

After 2010, HAG will continue to make restructuring via establishing membership companies in each business sector. The group will continue its plan of listing for its arms in sectors of real estate, mining, and hydropower in 2011 and flowing years.

Regarding smaller groups, Dat Xanh Real Estate Joint Stock Co (DXG) are finalising procedures to hike its chartered capital to 320 billion dong and issue 500 billion dong of common bonds. In addition, DXG also targets to reach earning per share (EPS) at 4,000 dong. As planned, the company will set up membership companies in each field such as installation and construction, brokerage and real estate.

The unfavourable business conditions will force enterprises to expand production and business at the same time strengthen the core competitive capacity to overcome hardships. The stocks of these firms promise to be bright spots in the stock market in coming time. – Dautu chung khoan

Tags: Vietnam companies, Vietnam enterprises