Vinaconex (VCG) divests all capital from Van Ninh International Port

Vietnam Construction and Import-Export Corporation - Vinaconex (Code VCG) has just announced the transaction of transferring all shares at Van Ninh International Port Joint Stock Company.

Previously, on May 22, 2024, the Board of Directors of Vinaconex approved the plan to transfer 2 million shares at Van Ninh International Port, equivalent to 40% of charter capital.

Vinaconex (VCG) divests capital from Van Ninh International Port (Photo TL)

Van Ninh International Port Joint Stock Company is the investor of Van Ninh General Port Phase 1 project, project scale of 83 hectares, located in Van Ninh commune, Mong Cai city, Quang Ninh province. Total investment of phase 1 project is about 2,200 billion VND.

Vinaconex has invested in Van Ninh International Port since September 2021. By October 2021, the project had started construction and was expected to be put into operation in the fourth quarter of 2024. Thus, Vinaconex divested right before the international port was put into operation.

Regarding business activities, in the first quarter of 2024, Vinaconex recorded revenue of VND 2,650 billion. Of which, gross profit was VND 754 billion, profit after tax reached VND 483 billion, a sharp increase compared to the same period last year.

The reason is explained that the corporation has invested heavily in the real estate business. These include projects such as: Green Diamond 93 Lang Ha Project; Cat Ba Amatina Project; Office for rent project - Cho Mo Commercial Center (preparing for exploitation); Kim Van - Kim Lu project...

Source: https://www.congluan.vn/vinaconex-vcg-thoai-het-von-khoi-cang-quoc-te-van-ninh-post301799.html