SD2 continues issuing 300b dong corporate bonds for carrying out projects

In the latest annual shareholders meeting, the shareholders of Song Da Joint Stock Co No 2 (HNX-listed SD2) agreed to authorise the company’s management board to issue the corporate bonds and spend 514.7 billion dong for carrying out projects.



In details, due to instable economic and financial policies last year, the company could not issue corporate bonds in accordance with the approved plan in 2010 shareholders meeting.

Therefore, this year, the company planned to issue the bonds to raise capital for investment and business purposes.



SD2 planned to issue 300,000 corporate bonds with terms of three years valued at 300 billion. The bond has face value of 1 million dong per bond with market rates.



This year, the company will make investment of 514.7 billion dong in carrying out projects, including expanding production scale of 490.7 billion dong in sectors of trading real estates, mining. The company planned to carry out construction projects of Ho Xuong Rong urban area, in Thai Nguyen City with total investment value of 443.5 billion dong, Hoa Binh semi-detached houses of 34.18 billion dong and Phu Luong housing complex in Ha Dong Dist, Hanoi of 8 billion dong.



At the meeting, SD2 also passed the 2011 year plan with total revenue of 419.4 billion dong, pre-tax profit of 30 billion dong and dividend payment of 15 percent.



Last year, the company reported gaining 399.4 billion dong in revenue; 17.6 billion dong in after tax profit and dividend ratio of 15 percent. Previously, SD2 had advanced first round dividend of 10 percent in cash.

Tags: Vietnam companies, vietnam enterprices

Posted by VBN on Apr 5 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