Saturday, July 20,2024 - 19:22 GMT+7  Việt Nam EngLish 

Hai An Transport and Stevedoring (HAH) divests capital from Luu Nguyen Cai Mep Port Services after half a year of control 

 Saturday, July 6,2024

AsemconnectVietnam - In December 2023, HAH approved the transfer of more than 4.6 million shares of Luu Nguyen Cai Mep Port Services, but has now decided to divest.

The Board of Directors of Hai An Transport and Stevedoring Joint Stock Company (code HAH) recently approved the divestment at Luu Nguyen Cai Mep Port Services Joint Stock Company.
HAH authorized Mr. Nguyen Ngoc Tuan, General Director and legal representative of the Company to research, find partners and sign the Share Transfer Contract and related documents to complete the procedures. Transfer shares in accordance with the law and the Company's charter.
Previously, in December 2023, HAH received the transfer of more than 4.6 million shares, equivalent to 51.54% of capital at Luu Nguyen Cai Mep Port Services with a transfer price of more than VND124 billion.
Luu Nguyen Cai Mep Port Services Joint Stock Company was established in December 2020, with a charter capital of VND90 billion. This enterprise operates in the field of providing seaport services, warehousing and goods storage, headquartered in group 13, Thi Vai neighborhood, My Xuan ward, Phu My town, Ba Ria - Vung Tau province.
Thus, after half a year of domination, HAH has decided to divest capital from Luu Nguyen Cai Mep. As of the end of the first quarter of 2024, HAH has 7 subsidiaries and 2 affiliated companies. If the company divests capital at Luu Nguyen Cai Mep Port Services successfully, the number of HAH subsidiaries will decrease from 7 to 6.
Regarding the business situation, in the first quarter of 2024, HAH recorded VND704 billion in net revenue, an increase of 7% over the same period last year, but profit after tax decreased by half to more than VND59 billion.
The company said the decrease in profits was due to reduced transportation activities. Specifically, transport output has increased due to the opening of additional transport routes, but sea freight prices have decreased and ship rental prices have also decreased, leading to a sharp decrease in ship operating profits. In addition, the business activities of subsidiaries and affiliated companies are also affected, reducing profits.
N.Nga
Source: VITIC/Tinnhanhchungkhoan
 

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