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Sai Gon Garment intends to invest in Bach Tuyet
02
Feb '11
Bach Tuyet Cotton Corporation (BBT) is running short of capital to develop its business. The corporation has decided to raise its charter capital from VND168 billion to VND250 billion which is equivalent to US $11.9 million. Owing to the high lending rates, it had to undergo loss in 2010.

Sai Gon Garment Manufacturing Trading Company, at present, is waiting for the consent from Bach Tuyet after an investment proposal was made by the trading company.

In 2010, a pre-tax profit of VND37.5 billion ($1.8 million) has been realized by Sai Gon Garment Company and an annual turnover of VND631 billion ($30 million). For 2011, the company has set a revenue target of VND650 billion ($31 million) and a profit target of VND40 billion.

Fibre2fashion News Desk - India

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