Rang Dong Plastic reaches 2010 revenue of over 630b dong

In its annual shareholders meeting held on March 5, 2011, Rang Dong Plastic Joint Stock Co reported gaining whole year revenue of 630.187 billion dong, surpassing by 16.7 percent against the targeted year plan, pre-tax profit of 23.75 billion dong, compared to year plan of 23.5 billion dong and after tax profit of 19 billion dong.



The company reported gaining profit of 12 billion dong from transferring the 57 Vu Trong Phung project, increasing by 1 billion dong over the expected profit that had been proposed in last year’s annual shareholders meeting.



As for the project sited at No 190 Lac Long Quan St, Dist 11, HCM City, RDP at first planned to cooperate with Global Petroleum Investment and Construction JSC (GP Invest) in carrying out the project. However, after many negotiation periods, the two parties failed to reach agreement about the cooperation conditions.

Therefore, RDP planned to seek another partner this year.



In 2011, the company planned to invest about 44 billion dong in production, of which about 28.4 billion dong for purchasing new machines and equipment for the first packaging plant, and 9 billion dong for constructing Tien Son-Bac Ninh plant.



Within this year, the plastic firm planned to hold the extraordinary shareholders meeting for providing information for existing shareholders about seeking new partner to realise the 190 Lac Long Quan project.

Tags: Vietnam business

Posted by kilybard on Mar 8 2011. Filed under Enterprises. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry