Exchange welcomes 130th listed firm

Construction and property firm DESCON (DCC) listed on the Ho Chi Minh City Stock Exchange on December 12, becoming the bourse’s 130 th member.

The price reference on its opening day was 62,000 VND, and the stock closed at 69,000 VND after clocking volumes of over 326,000.

DCC has a charter capital of 103 billion VND with the State holding 5.53 percent and its staff 14.7 percent. A foreign institution, the Asian Worldwide Management, owns another 7.28 percent.

The company’s CEO Nguyen Xuan Bang believes that with major collections due in December, the year’s profit target of 18 billion VND will be achieved.

The targets for the next two years are respectively 26 billion VND and 37 billion VND.

DCC is developing a commercial-residential complex in Ho Chi Minh City ’s District 2 in partnership with Korean company Pumyang. The Preche project, with two blocks of 33 floors each, will have offices for lease and apartments and will be completed in 2010.

The company also plans to begin several other projects soon, including two hydropower plants in Dac Nong in collaboration with partners, a housing villa complex in Da Lat, and an apartment project in Can Tho province.

source: http://www.vnagency.com.vn