Truong Hai’s turnover estimates to reach VND2,070 billion this year

(ĐN)- Truong Hai Auto Company has just held its first shareholders’ meeting to report the result of the transformation of the company into join-stock company with chartered capital of VND450 billion and to approve the company’s business strategy for this year. Accordingly, Truong Hai will invest VND500 billion to build automobile assembly and production company in Chu Lai Open Economic Zone in Quang Nam province; the first phrase of the project extimated to cost VND220 billion and will be put into operation by the end of 2007. Besides, Truong Hai plans to set up a Specialised Vehicle and Mechanical Production Plant with total investment of VND80 billion and an Auto Spare Parts Trading Company worth VND 30 billion in Bien Hoa 2 Industrial Zone.   

According to the plan, Truong Hai will raise its chartered capital to VND680 billion in 2007 from VND450 billion now. The company also plans to list its shares on the HCM City Security Trading Centre in the first quarter of 2008. It is expected to reach turnover of VND2,070 billion in 2007, nearly doubling last year’s figure and to pay dividends of 20 percent this year.

Reported by K.Loan