Kosy’s Group Chairman: “The listing has been driven since named Kosy”
Kosy Joint Stock Company is the largest enterprise in the series of 9 enterprises under the Kosy Group with the main business areas in the fields of real estate, construction, energy, hydropower, information of technology and laws.
At present, this company is investing in many real estate projects such as Kosy Lao Cai, Kosy Song Cong, Kosy Gia Sach, Kosy Bac Giang … with total investment of nearly 3,000 billion/dong.
On this special occasion, Mr. Nguyen Viet Cuong, Chairman of Kosy Group and Chairman of board Kosy Joint Stock Company, had shared his enthusiasm for the directions and development of Kosy expectations with reporters.
– Dear sir, in terms of the stock market, in Vietnam, there are two large exchanges in HoSE and HNX, and enterpries often focus on their resources on listing and trading on these large playgrounds. So why did Kosy choose UpCOM before going to HNX?
Mr. Nguyen Viet Cuong: Talking about the plan to list on the stock market, here is the idea and orientation was founded by shareholders determined right right from the naming of the enterprise. We do not personalize the choice of the very common name Kosy, suitable for everyone with the idea and strong desire to develop a public company Kosy.
Kosy has focused on preparing for the last two years, including the supplement and strengthening of the human resources as well as the fulfillment of criteria that meet the listing requirements.
So the reason we selected UpCOM before transferring to HoSE or HNX also has many reasons, but basically because Kosy is the enterprise which is on the development, moderate scale and capital raising needs at the present time is not really big.
This time, our goal is to create and publicize the image of a publicly-traded corporation, thereby increasing the credibility of the business, towards the goal of capital mobilization in the future. hybrid. Besides, we realize that there are many largeenterprises like VIB, Lienvietbank …, Vietjet Air, … or recently Habeco also select UpCOM to be listed before going to HoSE or HNX.
Therefore, UPCoM is definitely will be a lively playground for Kosy has achieved objectives, looking for investment opportunities and it is important to accumulate enough to move the larger listing arena.
Next time, Kosy has plans to move the stock exchange at the right time, reaching the bigger playground, in the short term is HoSE or HNX.
– Yes. Indeed, there are great goals and huge expectations in the future. However, it is the story of the latter day , while the current reality with Kosy’s financial statements is showing the business results, profits, cash flow of the company recently also modest. This with effect and may have a big impact on the assessment and valuations of investors interested in Kosy. What can you explain about this?
Mr. Nguyen Viet Cuong: Thank you for sharing. The results of the company in the financial report for the first nine months of this year show that the results have not reached our target. If you look at the numbers will not evaluate the potential of the company.
In fact, If you do see the number, will not underestimate the potential of the company, in the first months of 2017, Kosy is busy with many projects being launched, introduced and opened for sale, which is bringing big revenue for the company.
In the last 3 months of 2017, Kosy is expected to earn about 300 billion dong and by the end of this year, the company will earn about 500 billion dong. However, due to the characteristics of the real estate industry, it is recognized that revenue from the document is only available at the end of the project life cycle. This year Kosy’s projects are mostly in the stage of completion of the basic technical infrastructure and are eligible for “Red” books, but some new projects after the construction of raw materials began to record sales. In the first three quarters of financial statements, revenue and profit targets are not as expected. In the year to 2018, when Kosy’s projects are completed, revenue recognition will reach our target of trillions and will probably be higher in the following years.
– On 08/12/2017, Kosy listed 41.5 million shares on UpCOM. In your opinion, what is an attractive reason for investors should buy KOS shares?
Nguyen Viet Cuong said “In fact, financial investors are most intelligent and alert, they often have a comprehensive view when deciding to invest shares. Normally, they not only rely on financial figures, but also research, assess and evaluate based on the potential, business plans and long-term strategies of enterprises. These are the criteria that determine the investment efficiency and liquidity of shares.
In 2018, we have focused on accelerating the implementation of more large-scale projects, especially the project located north of Nhat Tan Bridge, Hanoi includes 6 buildings ranging from 30 to 35 floors and 400 adjacent villas with the total investment of over VND 4,000 billion, expanding three more urban projects in Sapa and Lao Cai, or projects in Vinh (Nghe An), Ninh Binh, Phu Tho, Ha Nam,…
Now, these projects are under the stage of completion of legal procedures, some projects are under the stage of site clearance and completion of site clearance for official commencement in 2018.
Actually, any enterprises have their own expectation when listed. However, the popularity of share will be determined by many factor, especially those from the market.
Therefore, standing in the corporate position, Kosyhas determined that we have a long way to grow and develop as well as assert ourselves. We always try our best, have policies to attract talents and develop feasible development strategies, invest well in the existing projects to achieve good revenue, good profit, determine to achieve thebest business results, affirm the position, ensure the brand of a reputable developer and meet the expectations of shareholders, investors, partners and customers..”
– Thank you for your wholehearted shares. Wish Kosu more and more development in the future!