TLC expects revenue of over VND5 tril this year

(ĐN)- Tien Len Steel Corporation Joint-Stock Company (TLC) has recently listed its shares on the HCM City Stock Exchange at VND34,700 per share.

Established in 1988 as a building material shop, the company was upgraded into Tien Len Co. Ltd in 2001 with only VND15 billion of paid-in capital. Its capital now is VND540 billion.

In 2009, Tien Len reported a profit of more than VND135 billion from VND2,386 billion in turnover and paid a 20 percent dividend to its shareholders. It has targeted earnings of around VND5,000 billion this year and pay the 2010 dividend of over 20 percent.

Steel production at a plant of Tien Len Steel Group

Tien Len’s main business scopes are steel production, trading building materials, and transportation among others. Its two subsidiaries are the VND120-billion Dai Phuc Trading and Manufacturing Company and the VND161-billion Tay Nguyen Steel Company.

In addition, the company holds a majority stake in Bac Nam Steel Joint Stock Company in Tam Phuoc Industrial Park in Dong Nai Province. The company’s steel rolling factory is expected to start production by the second quarter this year to help increase the company’s capacity by five times from the current 60,000 tons to 300,000 tons of steel per year.

Reported by X.P