Signing ceremony of strategic partnership between BankInvest and Hoa Phat Group

On April 25 2008, BankInvest and Hoa Phat Group (Hoa Phat) sign a strategic partnership at Hilton Hotel - Hanoi. Under the agreement, BankInvest will become a more 5% shareholder, and committed partner to Hoa Phat.

There were the attendance of Mr Hans Christian Jacoben – General Director of PENM BankInvest Fund, Mr Tran Dinh Long – Chairman of Hoa Phat Group, Mr Tran Tuan Duong – General Director, the directors of member companies and more than 30 journalists.

To be a strategic partner of Hoa Phat, BankInvest will utilize its broad management experience, gained from long careers in industry and as investment managers to support the company in strategic planning which is particularly important at its present stage of growth. With the capital provided by BankInvest will assist in supporting Hoa Phat’s investment plan in various areas including steel and steel plate capacity and expands its industrial park and urban construction business.

Thanks to an efficient management structure, which provides a solid foundation, an integrated production platform, and enthusiastic & skilful staffs and workers, Hoa Phat is now an iconic industrial conglomerate with a dynamic reputation. Hoa Phat will continue to consolidate its leading position in industrial production activities, especially in its core businesses. The average annual turnover and profitibility is expected to increase by 20-25% and the investment from BankInvest will help support this growth.

Hoa Phat charter capital currently is VND 1.320 billion, being one of top ten of market capitalization in Vietnam. In 2007, Hoa Phat revenue reached VND 5,733 billion (USD360million), net profit is VND 644bilion (USD 40million). Expected revenue in 2008 will be VND 7,657billion (USD480million), net profit is VND 740billion (USD 46million). 1Q2008 revenue, net profit is VND 2,307billion and VND 451billion respectively (presented 30% and 60% 2008 revenue and net profit respectively).

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