AsemconnectVietnam -  Focusing on promoting Nam An Khanh project, Song Da - Ngoc Vung eco-tourism area, Van La housing project, Hoa Hai - Da Nang urban area, Sudico is expected to be a support for growth in 2023.

The above information was given at the 2023 Annual General Meeting of Shareholders of Song Da Industrial Park and Urban Development Investment Joint Stock Company (Sudico - code SJS) taking place on the morning of March 16.
Speaking at the General Meeting of Shareholders, Chairman of the Board of Directors Do Van Binh said that although the market faced many difficulties, Sudico's business results in 2022 had growth, ensuring that it was as planned.
Specifically, by the end of 2022, the parent company's total revenue reached VND511 billion, an increase of 39% compared to 2021; pre-tax profit reached VND172 billion, an increase of 237% compared to 2021. Profit before tax of the whole complex reached VND176 billion.
In addition to maintaining from net business activities, a part of the profit growth in 2022 came from the fact that SJS was refunded the advance from the transfer of Hoa Hai - Da Nang project after when SJS won the case.
The recognition of a good profit growth is also the basis for setting new goals this year. Specifically, SJS has submitted a target plan for 2023 to grow 10-15% compared to the plan set out in 2022.
In which, the total production value of the parent company is expected to reach VND1,111 billion, the total investment value is VND2,366 billion, the total revenue is VND1,010 billion, and the pre-tax profit is VND300 billion. Corresponding targets in the whole complex are VND1,259 billion, VND2,645 billion, VND1,145 billion and VND320 billion. The 2023 dividend rate is 10%.
Sharing with shareholders, Mr. Do Van Binh said that the main task this year of the Company is to balance financial resources and provide capital in a timely manner according to the progress of investment projects; develop business plans for projects of Nam An Khanh, Van La, and North Tran Hung Dao, with extensions to generate cash flow, settle credit loans...
With the key project Nam An Khanh, Sudico focuses on promoting the completion of technical infrastructure, social infrastructure, construction of internal architectural works. Besides, focusing on completing legal procedures at Nam An Khanh urban area project, Song Da - Ngoc Vung eco-tourism area, Van La housing project, Hoa Hai - Da Nang urban area.
With the project development segment in 2023, Sudico plans to continue to seize opportunities to develop projects with low input costs and potential; Take advantage of the Government's preferential policies for the real estate market to mobilize cheap capital for investment activities.
In particular, Sudico has the orientation to strengthen joint venture expansion, associate with foreign partners with brand name and financial capacity to improve competitiveness. Although the number of shares owned by foreign shareholders is still modest, it has shown the interest of foreign investors in SJS shares.
SJS's management said that, in the medium and long-term vision, the proportion of the company's products includes: 65% - 70% for housing and urban business, 15%-20% for ecotourism business. Urban value-added service business accounts for 5%-10% of Sudico's total production value. The company has a strategy of exploiting added value in urban areas, synchronously providing urban operation management services and leasing premises for projects invested by Sudico.
In addition, the Board of Directors also re-submitted the plan to issue shares to increase capital, which was approved at the 2022 Annual General Meeting but has not yet been implemented. Accordingly, Sudico is expected to implement this plan this year. This is the plan to issue shares to pay dividends for 4 years 2018, 2019, 2020, 2021 and increase capital from equity, with a total additional capital of VND1,213 billion.
N.Nga
Source: VITIC/Tinnhanhchungkhoan