MCG plans to raise 350b dong for 2012

18-May-2012 Intellasia | DVT | 1:39 PM Print This Post

At its ongoing annual general meeting (AGM) 2012 on May 18, Vietnam Mechanisation Electrification & Construction Joint Stock Co (MCG) announced its plan to raise 350 billion dong for 2012 via two methods: issuing convertible bonds with fixed coupon rate or offering shares to the existing shareholders and strategic shareholders.

As planned, in 2012, the company will earmark 1.267 billion dong (or 76 percent of the capital demand) for investment projects such as Van Chan hydropower plant project, Truong Chinh project and Long Giang-Hung Yen urban zone project.

In 2012, the company targets 1.708 trillion dong in revenue and after tax profit of 64 billion dong resulting in a dividend of 5-8%.

In 2011, MCG did not pay a dividend, as after tax profit of 3.8 billion dong reached only 5.1 percent of the year’s target.

 


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