Vietnamese firm’s growth has market baffled

An unprecedented rise in the value of a relatively unknown Vietnamese construction company had markets baffled in November.

Faro Construction and parent developer FLC Group are building a number of large projects including the USD250m Samson Beach and Golf Resort in Thanh Hoa province and the USD330m Quy Nhon Beach and Golf Resort in Binh Dinh.

Faro was listed on the Ho Chi Minh stock exchange (HOSE) for USD170 million in September, but by November its value had multiplied 13 times to be suddenly be worth USD2.2 billion making it the 7th largest company in Vietnam.

The company has announced an expected rise in value of a further 50 percent.

- Video Advertisement -

Related Post

Network News: How Digital Twins and Analytics Are Shaping the Future of Connectivity And 5G

Not entirely out of sight, but almost always out of mind, cell towers quietly form the backbone of modern communication, powering everything from texts and phone calls to TikTok videos. Some topping 200 feet, they can stand tall like sentinels along roads or poke up from the roofs of high buildings. Their thistle-like tops bristle […]

Cambodia Officially Withdraws from CLV Development Triangle, Focuses on National Infrastructure Projects

Cambodia has officially announced its withdrawal from the Cambodia-Laos-Vietnam Development Triangle Area (CLV-DTA), marking a shift in its regional development strategy. The decision was formalised through the promulgation of the Law on the Approval of the Agreement on the Promotion and Facilitation of Trade in the CLV-DTA and will take effect upon the completion of […]

Cambodia’s Mining Sector Attracts USD 2.764 Billion Investment Across 555 Licensed Operations

Cambodia’s mining sector continues to expand, with 555 registered mining licenses now active under the Ministry of Mines and Energy, driving a total investment of USD 2.764 billion and creating approximately 11,306 jobs. The Ministry highlighted this significant growth during its annual meeting on 21 November 2024, underscoring the sector’s vital role in national economic […]

Cambodia Achieves Over 7.7 Million Land Registrations, Eyes 2028 Completion

Cambodia has registered over 7.7 million land parcels nationwide, with only 1.5 million parcels remaining, marking substantial progress in its national land registration initiative. The Ministry of Land Management, Urban Planning, and Construction (MLMUPC) aims to complete the registration process by 2028, further strengthening land rights and management. Government Spokesperson H.E. Pen Bona shared this […]

Four Firms Submit Proposals to Redevelop Cambodia’s Block A Oil Project

The Ministry of Mines and Energy has announced that four companies have officially submitted proposals to redevelop Block A, Cambodia’s prominent oil exploration site. These proposals come as part of a broader effort to revitalise the country’s energy capacity following the suspension of operations due to KrisEnergy’s bankruptcy in 2021. An additional five companies have […]

Cambodia Unveils Modern National Assembly Building with USD25 Million Vietnamese Aid

Cambodia has inaugurated a modern National Assembly administration building, constructed with a USD25 million aid package from Vietnam. The ceremony, held on 21 November 2024, was attended by Samdech Khuon Sodary, President of Cambodia’s National Assembly, and His Excellency Tran Thanh Man, President of the National Assembly of Vietnam, symbolising the enduring friendship between the […]