SJS lowers 2011 financial targets

Phan Ngoc Diep, chair of management board in Song Da Urban and Industrial Zone Investment and Development Joint Stock Co (coded SJS) announced that the company has lowered the targeted revenue and profit in 2011. However, the dividend rate remained unchanged.

In 2011, SJS aims to obtain total investment value of 4.057 trillion dong, up 30 percent while total production value is estimated to touch 4.196 trillion dong, up 107 percent against the previous year, and targeted profit of 982 billion dong. The company plans to pay dividend at 20 percent at minimum.

Last month, SJS successfully issued 700 billion dong corporate bonds at offering price of 1 billion dong per bond, equalling to the par value. These bonds have three-year term, to be issued for purposes of supplementing capital for the company’s current investment projects. The coupon will be paid periodically every six months while the principal to be paid once at due date of September 1, 2014.

 

Category: Business