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

Cambodia-ASEAN Trade Volume to Exceed USD 14 Billion in 2024

In 2024, the trade volume between Cambodia and ASEAN member countries surpasses USD 14.3 billion, marking a significant increase of 12.8% compared to the same period in 2023. This data comes from a recent report by the Ministry of Commerce. According to the report, Cambodia’s exports to ASEAN countries amounted to over USD 4.620 million, […]

Cambodia’s Steel Imports Surge by Nearly 70% in 2024

The construction sector in Cambodia is experiencing significant growth, as evidenced by the substantial increase in steel imports. In 2024, Cambodia imported over USD 631 million worth of steel, marking a remarkable 69.6 percent rise compared to the previous year’s imports of just over USD 372 million. This data was reported by the General Department […]

ISI Special Economic Zone Launches and Boosts Investment Growth in 2025

ISI Special Economic Zone, a new landmark development spanning over 800 hectares in Sihanoukville spearheaded by Cambodia’s esteemed ISI GROUP in collaboration with capital partners, is officially unveiled today during a grand launch ceremony at the ISI TOWER — ISI GROUP’s headquarters in Phnom Penh. (From left to right: Mr. Kang Sen, Executive Director of […]

Cambodia and Korea Strengthen Economic Partnership in 2024

The bilateral trade volume between Cambodia and the Republic of Korea has surged to USD 762 million by the end of 2024, marking an impressive increase of 11.49 percent compared to the previous year, according to a report from the Ministry of Commerce. Cambodia’s exports to Korea have reached USD 288 million, reflecting a robust […]

The rapid progress of riverbank construction in Kampong Cham has reached 65%

In a remarkable display of swift action and engineering prowess, the construction of a vital riverbank in the Srey Santhor district has surged ahead, reaching an impressive 65% completion in under a month. The Moan Dob Leu village project, Meanchey commune, commenced on December 23, 2024, following the alarming collapse of the Mekong River bank […]

Evercore Focuses on Clean Energy Investment in Cambodia

The Global investment banking firm Evercore is interested in investing in Cambodia’s clean energy sector. During a meeting on January 8, 2025, between Prime Minister Hun Manet and Evercore Asia President Keith Magnus, the firm also expressed interest in the country’s emerging sectors, including energy, health, and tourism. Magnus emphasized Evercore’s operations and its intention […]