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Transimex: Speed up for the strong development

Early in June, Transimex Corporation (TMS) has successfully organized the 2020 annual Meeting of Shareholders. According to the Meeting brief, in the second-half year of 2020, TMS was forecasted to have a strong development. The Corporation will “speed up” following several new development directions, from enhancing the capacity of Logistics Centers to investing in some new bussiness fields. TMS expected that the 2020 profit before tax will increase by 44% compared to that in 2019.

TMS expected that the 2020 profit before tax will increase by 44% compared to that in 2019

The profit estimated to increase by 44%

In 2019, the total revenue of TMS was about 2,340,091 billion VND, reaching the 100.70% of plan compared to 2018, whereas the profit before tax was 256,285 billion VND that fulfilled 97.32% of the year plan. Although the total revenue decreased 3% compared to the result obtained in 2019, the 2020 profit before tax is still estimated to reach 368 billion VND, increasing about 44%.

According to Mr Bui Tuan Ngoc, president of Transimex: “We expect to have a suddenly greater profit in 2020. We have just signed a real estate contract for the industrial zone. The success of this contract may depend on our partner. If everything going well, right in August and September 2020, TMS will reap a boost profit”.

Mr Ngoc shared that the COVID-19 pandemic did not affect too much on the sale revenue of TMS. By the first week of June, TMS already completed the plan of the first half-year. Next time, TMS will launch the vessel with capacity of up to 200TEUs – this is the biggest vessel that TMS own so far and will help to raise the cargo load and revenue for our corporation.

Many plans for the new development

In the next period, TMS will continue the trategies for the sustainable development of logistics by developing “Green” logistics and completing the logistics-service supply chain widely in the whole country, and focusing on the core activities. We also maximize the effectiveness of Logistics Centers in Da Nang, in high-tech IZ of HCM City and Thang Long logistics Center in Hung Yen.

TMS will also promote the application of modern information technologies in business activities, warehouse administration, cost management etc

On 2nd Oct 2020, TMS will start the build of Logistics Center in Vinh Loc IZ, Binh Tan district, HCM City. This is one of the big centers in the South East Asia region and the total cargo stowage can be up to 120,000 Palletes.

Along with that, TMS will exploit effectively the Mipec seaport in Hai Phong, invest in the companies that operate in the same areas and have the high potentials for further development or provide supporting services for the Corporation. To do that, TMS will cooperate with these companies to invest in building warehouse and exploit profitably all available land sources of the partners.

In the last 6 months of 2020, TMS will continue seeking new projects, researching the investment opportunities in logistics centers and warehouses located in the ideal areas and improving the capacity in providing logistics services and complete the logistics service supply chain in Vietnam, especially in the key provinces and cities. TMS will also promote the application of modern information technologies in business activities, warehouse administration, cost management etc.

The mobilization of 400 billion vnd for the term 2020 - 2021

With the need of about 400 billion VND for the investment purpose in the term 2020 – 2021, Transimex outlined three budget mobilization plans: issue bonds, sell private equity stock, issue plain bonds. The money earned from the bond exchange will be used for starting investment in the projects developing logistics infrastructure (at the holding company and/or via subsidiary companies and joint stock companies), and supplement budget for business and financial actitivies of the Corporation. In case of convertible bond issuance, TMS plan to issue about 2 million bonds (with a value of 100,000 VND/bond) that equivalents to the total value of 200 billion VND isssued into two halves (Quarter 4 in 2020 and Quarter 3 in 2021). The bond term is 2 years since the date of issue with the interest rate of 6%/year. TMS intended to issue bonds in 2020 and 2021 after having an approval from State Securities Commission of Vietnam.

The shareholder Congress has approved the adjustment, amendment and the supplementation related to the business types of the Corporation. For the profit purpose, TMS changes the real estate business types, expand the business scopes in real estate field, for example using budget to invest in building constructions, buying, selling and transferring for sale, transferring, leasing and re-leasing the real estates, performing real estate broker services, real estate trading floor services, real estate consulting services or real estate management services.

In addition, TMS wants to add the power generation business type into the profile. The reason is that TMS intend to sell the excess amount of electricity generated from solar power system at Transimex ICD port Warehouse center and Logistics center of Transimex Hi Tech Park Logisitcs Ltd. Co and other TMS sub-companies that have the same solar power system for the Electricity Vietnam.

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