(ĐTCK) In Annual Report 2019 of Bamboo Capital Group Joint Stock Company (stock code BCG), Mr. Nguyen Ho Nam, Chairman of the Board of Directors shared that the Covid-19 pandemic had a strong impact on many aspects of economic life, many businesses face to the risk of bankruptcy or staff cutback.
In this situation, BCG affirmed that there was no policy of personnel reduction, supported all employees to unite to focus on the dual-task which is both actively fighting epidemics and fulfilling the production objectives business set out.
In 2020, a number of implemented BCG projects will be put into commercial operation. Real estate projects will be recorded in revenue after completing the handover to the investor. Next year renewable energy will continue to generate stable cash flow from operating of the BCG CME Long An 2 Solar Power Plant with a total capacity of 100.5 MW. It is expected that 2020 will be the financial balance year of BCG.
According to The Annual Report, on December 31, 2019, BCG’s total assets increased sharply from VND 5,321 billion to VND 7,255 billion, 136% compared to the previous year, mainly due to the increase of money from the implementation of real estate and renewable energy projects. Accordingly, loans for project development increased, leading to a significant change in liabilities to exceed VND 5,630 billion.
In 2020, BCG shared that although the commercial group was negatively affected by the disease, in general, BCG did not suffer too much because BCG accounted for only a small part of the revenue structure of Group, the real estate of BCG are also heavily influenced by the projects under construction.
BCG sets a new 2020 plan for key groups
Excepted to produce high-quality agricultural products, ensure food safety and hygiene. BCG will conduct research on high-tech agricultural application methods combining organic agriculture trends in agricultural production.
The EVFTA, which is expected to operate in 2020, is an opportunity for BCG to expand its export markets with the goal of increasing sales in the commercial segment.
The implemented real estate projects will be promoted and completed to be delivered to customers, helping BCG record extraordinary revenue and profit in 2020. In addition, there will continue to complete the development of legal procedures, declare more potential projects.
In the renewable energy segment, BCG focuses on developing rooftop solar energy which is currently the most suitable energy solution in the context of the electricity industry in Vietnam. BCG Energy aims to develop a minimum of 100 MW of total capacity by 2020.
BCG CME Long An 2 Solar Power Plant with a total capacity of 100.5 MW
BCG produces in four key areas of production and agriculture, construction and trade, infrastructure and real estate, renewable energy with more than 30 subsidiaries and associates.
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