Khang An Real Estate Investment Joint Stock Co (coded KAC) has lately released the documents to be submitted in the upcoming annual general meeting (AGM) to be held on June 22, 2012.
Accordingly, the company has cancelled the plan of hiking chartered capital from 200 billion dong to 306 billion dong via offering additional shares to the existing shareholders and strategic ones.
In 2012, KAC aims to obtain whole year revenue of 317 billion dong, increasing by eight times against that of 2011, while after tax profit of 20.25 billion dong and dividend rates of 5%.
By the end of Q1, the company reported gaining revenue of 4.9 billion dong, equivalent to 1.5 percent of targeted year plan and incurring loss of 5.3 billion dong.
This year, the company would concentrate on sales activities for two main projects of Khang An-Phu Huu residential quarter sited in Dist 9, HCM City and residential quarter in Tan Tao A Ward (Zone A), Binh Tan Dist, HCM City. For the first project, KAC has already sold over 80 percent of the land fund, while for the later project, the company has signed contract with Da Cin Holdings Singapore. KAC expects to bring in revenue and profit from the two projects.