Binh Duong M&C Company expands trades after equitization

After 40 years of development, Binh Duong Materials and Construction One-member Ltd. Company (Binh Duong M&C) has become one of the leading construction companies in Binh Duong province and the Southeast region.

Despite of negative effects from the global and national economy, Binh Duong M&C achieved good results. Namely, in 2013, company revenue reached over VND 381 billion; revenue in 2014 soared to more than VND 458 billion.

Implementing PPC’s direction for quickly executing equitization at enterprises to keep up with integration trends, Binh Duong M&C is attempting to accelerate the completion of equitization. It is expected that the company would issue its first share to the public.

 Mai Van Chanh, General Direct of Binh Duong M&C, said company leadership announced to all employees that equitization, selling shares was to more social resources, seek strategic investors to diversify business line, build a strong brand and a fair playground… After equitization, the company would be listed and participate in stock exchange transaction; heightening corporate market position and image. In addition, due to the participation of experienced strategic investors, the company could reach modern methods of corporate governance to increase the market value of the company and maximize profits of shareholders.

Based on this plan, Binh Duong M&C set up development orientations and production plans after equitization to focus on specialization, main businesses with traditional and prestigious professions, such as: quarrying, manufacturing construction materials from clay, unfired construction materials, material facility, real estate... The company will diversify traditional professions, develop new products, expand areas of quarrying, clay, research and develop new projects in newly established districts. In particular, Binh Duong M&C will invest in projects of depots, oil, gas, petroleum, and liquefied gas; construct 3 retail stores of petroleum; factories of gas extraction and gas cylinders…

According to leadership of Binh Duong M&C, the company is a strong business, the company’s shares will certainly be very attractive to strategic investors and the public. Hopefully, with the new vision and flexible steps of equitization, M&C brand will go further.

On Aug 27, 2013, PPC issued Decision No. 2062 / QD-UBND on the transfer of equity ownership from Binh Duong M&C to Thalexim. On Jun 16, 2014, PPC continued to issue Decision No 1396 / QD-UBND on the equitization of Binh Duong M&C. On Nov 12, 2015, PPC approved the corporate value for equitization process of Binh Duong M&C.

Reported by Bao Anh – Translated by Ngoc Huynh