COMPANY’S NEWS – Page 9 – Công Ty Cổ Phần Sợi Thế Kỷ

Synthetic fiber manufacturer to hold IPO

26 May, 202127 November, 2014 by Phạm Ngọc Thái

Century Synthetic Fiber Corporation plans to make its initial public offering (IPO) of shares on December 9 and get listed at the Hochiminh Stock Exchange after that.

The State Securities Commission allowed the new company, a synthetic fiber manufacturer, to issue three million shares at a reference price of 18,000 VND (0.85 USD) each.

The company and its major shareholder, Red River Holding, held a roadshow on November 26 to introduce the potential of the stock.

After holding the IPO and issuing its audited financial report for this year, Century Synthetic Fiber will file for the listing of its shares at the Hochiminh Stock Exchange sometime in the second quarter of 2015.

The IPO aims to raise funds for the company’s 729-billion VND (34.3-million USD) factory expansion plan which began last May at Trang Bang in Tay Ninh province, company officials said.

The company also plans to put 50 percent of the factory’s capacity to commercial use in the third quarter of next year.

According to Dang Trieu Hoa, chairman of the company’s board of directors, Century Synthetic Fiber had to enhance capacity because of the increasing demand of its clients, all suppliers of large brands such as Nike, Adidas and Uniqlo, as well as Zara and The North Face.

From 2008 to 2013, the company’s revenues increased by 39 percent and its profits, by 65 percent. It expects the expansion to help increase by about 20 percent its revenues, to 2.3 trillion VND (108.4 million USD), and its profits, to 132 billion VND (6.2 million USD), in 2016.

In the first nine months of 2014, its revenues reached more than 1 trillion VND (47.1 million USD) and its profits, 82 billion VND (3.8 million USD).-VNA

THURSDAY, NOVEMBER 27, 2014 – 11:31:58

Quote: “http://en.vietnamplus.vn/synthetic-fiber-manufacturer-to-hold-ipo/68785.vnp“

Synthetic fiber firm to launch IPO next month

26 May, 202125 November, 2014 by Phạm Ngọc Thái

STK representatives introduce investment opportunities at the IPO road show on November 24 – PHOTO: THU NGUYET

HCMC – Century Synthetic Fiber Corporation (STK) is expected to launch its initial public offering (IPO) on December 9, offering five million shares to investors on the Hochiminh Stock Exchange (HOSE).

The enterprise will raise fund for production expansion via a public auction of three million shares at the starting price of VND18,000 each. Meanwhile, Red River Holding, its foreign shareholder, will also offload two million shares of the enterprise.

The enterprise has plans to list on HOSE in the second quarter of 2015. It estimates an annual dividend payment at 15% for shareholders in both cash and stock.

According to STK’s leaders, the IPO aims to raise fund for its factory expansion project in Trang Bang District of Tay Ninh Province. The project has the total investment of VND729 billion.

Once completed, the factory will turn out an additional 15,000 tons of fiber, taking its annual capacity to 52,000 tons. The project will start running at 50% of its capacity in the third quarter of 2015 and at full capacity in the first quarter of 2016.

In addition, it is considering investment in a dyeing and textile factory at Thanh Thanh Cong Industrial Park in the southern province with the total invested capital of US$45 million.

During at a road show for the IPO in HCMC on November 24, Saigon Securities Inc. (SSI), which is the auction agent of STK, expected each STK share price at nearly VND23,300 while DongA Securities, the issuance consultant, expected it at over VND26,800.

The brokerages highly lauded STK shares given its robust business in recent years.

Between 2008 and 2013, STK obtained an average revenue increase at 39% while its after-tax profit grew 65% annually. Between January and September this year, the enterprise attained VND82 billion in after-tax profit, surging by 79.4% year-on-year, on revenue of around VND1 trillion, a 4.2% rise.

STK expects to obtain VND104 billion in after-tax profit in 2014 and VND140 billion in 2016.

According to DongA Securities Company, STK’s return on equity (ROE) is 15.3% compared to the average rate of 10.4% in the garment and textile industry. In the next three years, it estimates to reach an average ROE of 20%.

Besides, the firm will enjoy advantages as Vietnam is expected to sign the Trans-Pacific Partnership next year.

However, STK will also face some risks such as material price fluctuations and tough competition from foreign investors in the local fiber sector in the coming time.

Tran Thu
Tuesday, Nov 25,2014,19:04 (GMT+7)

Quote: “http://english.thesaigontimes.vn/38053/Synthetic-fiber-firm-to-launch-IPO-next-month.html“

Local firm opens fiber plant in Tay Ninh

26 May, 202119 January, 2011 by Phạm Ngọc Thái

HCMC – HCMC-based Century Synthetic Fiber Corporation on Tuesday opened a fiber plant in Trang Bang Industrial Park in the southern province of Tay Ninh to increase its fiber production for export and the local market.

Dang Trieu Hoa, chairman and CEO of the company, told the opening ceremony that the US$19.5-million plant was equipped with the closed production chain of Draw Textured Yarn (DTY) from polyester chips with an output of 11,000 tons per year, taking the company’s total capacity to 25,000 tons per year.

Being equipped with advanced machines imported from Germany’s Oerlikon Barmag Group, fiber products from the new factory will meet customers’ demands at home and abroad, according to thecorporation.

The company’s customers include Thanh Cong Textile and Garment Investment Trading Co., Thai Tuan Textile and Garment, and major foreign brand producers in Vietnam like Nike, adidas, Columbia, Ikea, Reebok, Guess, Decathlon. Its products will also be shipped to overseas markets such as Turkey, Switzerland, Taiwan, South Korea, and Thailand, the company said.

According to the corporation, the demand for DTY at home and abroad is rising quickly. Therefore, the company will invest in the second phase of the new plant this year, with a budget of US$12.2 million and an annual output of 10,000 tons per year, Hoa said, adding the phase will be put to operation next year.

Century Corp. currently also operates a plant in HCMC’s Tay Bac Cu Chi Industrial Park producing micro filament draw textured yarn fiber from partially oriented yarn. Given the new plant in Tay Ninh with total capacity of some 25,000 tons a year, the company will have a combined output of 35,000 tons in 2012.

Current output of Century Corp. accounts for 15% of national DTY production estimated at nearly 166,000 tons last year.

The corporation obtained revenues of some VND500 billion last year and it targets to double the figure this year after opening the new factory.

Century Corp. was founded in 2000 as a producer of polyester filament products. The company at a meeting in HCMC last year got approval from shareholders to list on the Hochiminh Stock Exchange, and it is considering a suitable time to trade shares on the market this year.

JANUARY 19, 2011 BY THESAIGONTIMES

Quote: “http://www.vietnambreakingnews.com/2011/01/local-firm-opens-fiber-plant-in-tay-ninh/“

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Copyright © 2018 Century Synthetic Fiber Coporation

Copyright © 2018 Century Synthetic Fiber Coporation

Copyright © 2018
Century Synthetic Fiber Coporation

Copyright © 2018
Century Synthetic Fiber Coporation