BT6 to Boost Investment in Finance Sector
The listed Chau Thoi Concrete 620 Company (BT6) plans to boost its investment in the finance sector.
In the shareholder meeting held two weeks ago, BT6 decided to spend VND154.5 billion (US$9.7 million) for investment in 2007, of which VND80 billion will be poured into finance and securities investment.
The company will also pump VND56 billion into expanding operations and VND18.5 billion into BOT and joint stock companies.
In 2006, the Ho Chi Minh City-based firm spent VND10.4 billion in securities investment, VND59.3 billion in joint ventures, and VND17.3 billion on expansion.
This year, BT6 targets revenue of VND500 billion and profit of VND46 billion, compared with VND465 billion and VND31 billion in 2006, respectively. It plans to pay dividend at 16-18 per cent in 2007, compared with 16 per cent last year.
As of the end of 2006, BT6 had total assets of VND608 billion (US$38 million) and equity of VND88 billion (US$5.5 million). BT6 shares rose 25.5 per cent so far this year to close at VND69,000 Tuesday. (Vietnam Economic Times, VSE)
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