PHR prepares for building Tan Binh Industrial Park

News - Phuoc Hoa Rubber Joint Stock Co (coded PHR) announced to get approval for construction project of Tan Binh Industrial Park at a total investment capital of 500 billion dong.

The project was sited in an area of 700 hectares in Binh Duong province, to be conducted by the rubber producer as main investor. The company has currently focused on establishing the new joint stock company to speed up the implementation process for the project. The new company would have chartered capital of 100 billion dong, of which PHR would contribute 70 percent of the total, and the rest 30 percent from other two partners.

On February 16, PHR would close the shareholders list for advancing second round dividend in cash at applied ratio of 15 percent for existing shareholders. So the company has paid 2011 dividend in cash for current shareholders.

In the coming annual general meeting to be held in March, PHR would seek approval for paying 2011 dividend at 30 percent. The unallocated profit would be supplemented to the company's working capital in order to reduce the pressure of lending costs, in the context of high lending interest rates.