Vincom Retail (VRE) held the 2022 shareholders’ meeting and approved a plan to obtain VND8 trillion in revenue and VND2.4 trillion in post-tax profit for this year. 

VRE operates 80 shopping centers in the country with total floor area of 1.7 million square meters. Of these, Vincom Mega Mall Smart City, opened on April 28, is the largest shopping mall in Vietnam with retail premises of 68,000 square meters. The company plans to have 3 million square meters of retail premises.

Prior to that, Vingroup (VIC) announced the first phase of a bond issuance to the international market in 2022. The issuance of $525 million worth of 5-year bonds is expected to be done in May. The bond issuance is part of a plan on issuing no more than $1.5 billion worth of bonds of the group. Bond holders have the option to receive VinFast shares owned by Vingroup.

The money to be raised from international bond issuance will be used to develop the VinFast automobile manufacturing complex.

VinFast’s car sales were good in the first fourth months of the year. The manufacturer is still selling petrol-run cars and is speeding up the delivery of electric cars VF e34, which have received thousands of orders.

In late April, Vinhomes, the subsidiary specializing in real estate development, opened Royal Wave Park at Vinhomes Ocean Park 2 – The Empire. This is part of Vinhomes Dream City, a mega urban area development project, covering an area of 460 hectares in Hung Yen.

Also in 2022, Vinhomes plans to open two other large urban area development projects, including Vinhomes Wonder Park, 133 hectares, in Dan Phuong, Hanoi, and Vinhomes Co Loa, 388 hectares, in Dong Anh, Hanoi.

In a statement to the 2022 shareholders’ meeting, Vingroup projects an impressive business plan after a difficult year 2021: VND140 trillion, or $6.3 billion in net revenue, an increase of 11.4 percent over 2021, and VND6 trillion in post-tax profit. 

The core business fields of Vingroup are real estate (Vinhomes – VHM), retail (Vincom Retail – VHE) and electric cars (VinFast).

In 2022, VinFast is introducing smart electric cars to the global market and taking orders for three models VF 5, VF 8 and VF 9.

According to Forbes, as of May 10, 2022, Vuong had stock assets worth $6.3 billion.

However, if calculating stock assets based on share prices in the Vietnamese stock market, Vuong would have $7.2 billion, a fall of $2.5 billion over the last five months because of the stock price decrease.

V. Ha