Business

FLC Group to list on Singapore exchange

FLC group has, in Hanoi, worked out the finer points with its Singaporean partners about its plan to list on Singapore's stock exchange.
FLC Group to list on Singapore exchange ảnh 1FLC Group meets with Singaporean partners in Hanoi (Photo: VNA)
Hanoi (VNA) - FLC group has, in Hanoi, worked out the finer points with itsSingaporean partners about its plan to list on Singapore's stock exchange.

Itwas the second meeting between the group and the Singaporean financialconsulting company Putri Resources&Capital Pte Ltd and the United OverseasBank (UOB) after the first one in April 2014 with regard to the plan.

FLCchairman Trinh Van Quyet said that the group has successfully listed on thelocal stock exchange and it aimed to list in other countries to attract moreinvestment for its growing projects.

Quyetsaid Singapore was one of the biggest financial centres in the Asian market,adding that listing in the market would give FLC an opportunity to boost itsmanaging capacity and transparency.

Meanwhile,Ernie Yap, Director of Putri Resources&Capital said the financial reportsproved that FLC met all the requirements to be listed on Singapore's mainboardwithout being listed on its auxiliary exchange of Catalist. The director alsosaid not all the companies in Viet Nam can meet the requirements.

DanielLim Jin Kong, Deputy Chairman of UOB, while appreciating what the group hasachieved, added that a listing in Singapore will help the group enhance itsmanaging standards to international levels.

Inthe first six months, profit before tax and after audit of the FLC Groupreached over 177 billion VND (8.428 million USD), completing 51 percent of thewhole year's profit plan in 2014.

Sinceearly this year, FLC has kicked off constructions of the FLC Garden City in DaiMo with the total investment of 3.5 trillion VND (166.6 million USD), FLCComplex Pham Hung at the cost of 1.2 trillion VND (57.1 million USD) in Hanoi andinternational standard FLC Sam Son Golf Links in Sam Son, Thanh Hoa with an investmentof 5.5 trillion VND (261.9 million USD).-VNA
VNA
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