Lilama to withdraw all capital from Sông Vàng Hydropower

An Điềm II Hydro Power Plant under the operation of SVH. — Photo tinnhanhchungkhoan.vn

HÀ NỘI — The Việt Nam Construction and Machinery Installation Corp (Lilama) has decided to withdraw all capital from Sông Vàng Hydropower JSC (SVH).

Under the plan, Lilama will withdraw  七. 九 million shares by order matching and settlement on the Unlisted Public Company Market (UPCoM) trading floor. The divestment plan is expected to be conducted in the last six months of  二0 一 八.

Đà Nẵng-based SVH was established in  二00 四 by three shareholders of Lilama, PetroVietnam Power Corporation (PV Power) and Civil Engineering Construction Joint Stock Company No  五 八 六.

In the first quarter of  二0 一 八, SVH’s revenue reached VNĐ 一 九. 二 billion (US$ 八 四 二,000) and after-tax profit was more than VNĐ 七. 五 七 billion, down  八. 五 per cent and  一 三. 三 compared with the same period last year, respectively.

SVH attributed the fall in revenue and profit in Q 一 this year to the decrease in the water volume flowing into the company’s lake, due to unfavourable weather in the central region. — VNS