HBC - A Long Way to Sustainable Growth
​HBC Corporation JSC (HSX:HBC) is proving themselves as one of the most reputable construction contractors in the domestic market owing to their capacity and experience. Their backlog and revenue are strongly increasing and their profitability is improving. Taking advantage of the expansion in the real estate market, HBC is capable of winning large and complicated bids in order to secure an abundant amount of jobs for 2017 and 2018.
However, the contrasting colors between HBC’s performance and its cash flow generation have recently raised concerns. HBC’s surging revenue has been inflating the receivables while the company cannot raise the payables proportionally. Consequently, the working capital needs funding by short-term borrowings. It is observed that HBC has been generating negative cash flows from operation and the situation is likely to prolong for the upcoming quarters.Â
Hoa Binh Construction Group Joint Stock Company, formerly Hoa Binh Construction & Real Estate Corporation, is a Vietnam-based company engaged in the construction industry. It constructs civil and industrial structures, as well as offers construction machinery and equipment for lease. The Company also provides land clearing services, house repair services, interior decorating services and consulting services for construction activities. In addition, it manufactures and trades construction materials, wooden furniture, interior fixtures and home furnishings. Moreover, it is involved in real estate trading.
Viet Dragon Securities belongs to top 20 biggest securities companies in terms of chartered capital in Vietnam. With a qualified, dedicated and professional team, a widespread network, advanced technology, diversified products and services, and good relationship with local and foreign institutions, we provide a wide range of services and products to our clients both individuals and institutions, both local and foreign. We commit to provide our clients with promising investment opportunities and a comprehensive and professional financial investment services.
RongViet Research reports are diversified and abundant, along with in-depth analysis and performed by experienced, highly-qualified and knowledgeable teams. With the objectives of transparency, accurate and timely manner, RongViet believes that our products would always be important sources of information for customers/investors’ investment decisions.”
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.