Tan Ky Construction and Real Estate Trading Joint Stock Co (HNX-listed TKC) has lately approved for halting the construction project of Splendor Thu Duc, so as to use the investment capital for supplementing the company's working capital, serving for business activities.
According to the report released by the management board, the company has already finished compensation and ground clearance works. However, predicting the standstill trend for high-rise apartment buildings in the current real estate, the management board proposed for changing the capital usage purpose.
As for 2012 business plan, the company's shareholders have passed the targeted plan of 400 billion dong in revenue, equivalent to 82 percent of 2011, and after tax profit of 12 billion dong, up 38 percent year-on-year. TKC planned to pay dividend at 10 percent.
Last year, the company reported gaining total revenue of 490 billion dong, after tax profit of 8.7 billion dong and paid dividend in cash at 10 percent. - Source: Vietbiz24
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