MST Investment (MST): Business activities expected to return to growth in Q3/2023Friday, September 22,2023
AsemconnectVietnam - Continuously signing high-value construction contracts and implementing construction of civil real estate projects, MST Investment Joint Stock Company (MST code - HNX exchange) expects profit growth in the third quarter of 2023 doubled over the same period.
Information from MST said that the Company has continuously signed and implemented infrastructure and industrial construction contracts in parallel with developing real estate projects.
Regarding infrastructure construction, MST held a groundbreaking ceremony - starting the construction investment component project of the Dien Chau - Bai Vot section under the "Construction investment component project of some expressway sections on the Northern route". - South of Dong Nai in the period 2017-2020 on August 26, 2023. The total construction value is more than VND56.51 billion over a period of about 11 months. The capital source for implementation is the State budget in the form of PPP projects. The project will contribute significant profits to the Company in the next period.
Regarding industrial construction, in April 2023, VINA2 Investment and Construction Joint Stock Company (VC2) - MST's affiliated company as the main contractor coordinated with the investor Huanyu Co., Ltd. Automation Vina held a groundbreaking ceremony to build the Huanyu Automation factory. The factory is located at Lot CNC - G1, Street 5, Chau Son Industrial Park, Phu Ly City, Ha Nam province. Construction area is 1.2 hectares, high-tech machinery and equipment production function. Total project investment is more than USD13.5 million with a construction period of 365 days, expected to be put into use in May 2024.
In addition, VC2 will continue to be the main contractor in coordination with the investor VINGA Vietnam Co., Ltd. to organize the Groundbreaking Ceremony to construct the VINGA Vietnam factory at Lot CNI0.3, Road D6, Chau Son Industrial Park, Phu Ly City, Ha Nam province. Construction area is 1.32 hectares, purpose is to produce leather products, total project investment is more than 11.4 million USD, construction time is 365 days, the factory is expected to be put into use in June 2024.
This is considered a premise in promoting industrial construction in addition to expanding cooperative relationships with foreign partners in general and Taiwan (China) in particular in the next period.
Regarding civil real estate construction, MST is completing the final legal procedures to put into construction the Greenhill Village Quy Nhon Project in September 2023. Greenhill Village project - the largest 5-star resort complex in the coastal city of Quy Nhon, with an investment of over VND2,500 billion. The project includes 500 luxury resort apartments and hilltop villas with panoramic views of Quy Hoa beach area and Quy Nhon city center area. Greenhill Village project owns a prime location in the area of National Highway 1D passing through Quy Nhon and Song Cau, in the area of Ghenh Rang, Quy Hoa, Quy Nhon. This is also one of the most beautiful coastal roads in the Central region, adjacent to many tourist areas and major commercial centers of the city.
In addition, the key project The Sailing Quy Nhon has been built to the 33rd floor, lot B. The Sailing Quy Nhon is a complex of apartments and commercial services located in the center of Quy Nhon city by Do Thanh Company - Cong. MST's affiliated company is the investor. The Sailing Quy Nhon project integrates a 5-star utility system including 2 towers of 36 - 41 floors, 2 basements and 5 podium floors as a commercial and service center.
Accordingly, block A is 41 floors high with a total of 515 apartments, block B is 36 floors high with a total of 478 apartments. This is one of the key projects in Quy Nhon that has attracted many investors in recent times.
The change at the right time is gradually bringing positive results. According to information from the Company, profits in the third quarter of 2023 are expected to increase about double over the same period.
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