Simco Song Da subsidiary spends 243b dong on projects

Thursday, May 15, 2008
Simco Song Da Joint Stock Co (coded SDA)'s shareholders' meeting recently passed the plan to pay 20% dividend including 10% in cash and 10% in shares.

Last year, the company brought 121.8 billion dong in revenue and 32.17 billion dong from pre tax profit and that could be 200.6 billion dong and 37.2 billion dong respectively within this year. During the first quarter of this year, Simco Song Da reported gaining over 6.6 billion dong from after tax profit.

In order to gain this year's target of revenue and profit, the company plans to invest 243.8 billion dong in many projects such as Van Phuc-Ha Dong new urban zone project worth 174.47 billion dong, 53.5 billion dong in hydropower projects and industrial zones and 7.7 billion dong in Song Da Corp.

In addition, the company strives to boost exporting worker to abroad traditional markets as well as new markets with the number of 2,000 workers within this year.