On July 24, 2022, Construction Joint Stock Company 47 (HOSE: C47) signed the contract for construction of Nam Pha, Nam Phak and Phouphong Dams under Nam Phak Hydropower Project, Lao PDR with Song Da 5 Joint Stock Company (SD5). This is an opening contract within the previously signed strategic cooperation program between C47 and SD5, in order to exploit and promote the strengths in the operation and business fields of the both, especially construction of the oversee large-scale projects.

At the ceremony, two parties signed two contracts including: Contract for construction of Nam Pha, Nam Phak and Phouphong Dams and Contract for mix design and testing for main works under Nam Phak Hydropower Project, with total value of nearly VND 800 billion, the expected completion time is 1,458 days.

For signing this contract, almost for a year, C47 and SD5 coordinated to negotiate with the Project Owner. The construction contract with main volume of about 6.0 million m3 of rock and soil excavation, this is one of strengths of C47. With the current capacity, C47 will definitely execute the contract to ensure progress, quality and efficiency.

Nam Phak hydropower project with total installed capacity of 128 MW is located in the Southwest of Bolaven Plateau, about 10 km southwest of Paksong in the southern region of Lao PDR and takes advantage of the high elevation variations of 700m between the plateau and the plain to the south. The project will gather flows from several streams on the plateau flowing in the northwest and southwest directions and divert this flow through two streams to Nam Pha reservoir. The preferred scheme includes two reservoirs and two power generation facilities, of which the larger facility is located on the shores of Houay Namphak at foot of the plateau cliffs.

This is an important package that determines the project quality and selection of a good contractor is a prerequisite. C47 is a long-tradition company and a leading construction firm in fields of irrigation, hydropower, civil and industrial works across the country, who has fully met the requirements of package requirements and is selected for project implementation.

Thus, from the early of year to July 2022, total newly contracted value of C47 with the project owners and strategic partners is more than VND 1,200 billion, which includes the following projects:

• Excavating and levelling work item for the plan preparation under Hoa Phat Dung Quat 2 Steel Integrated Complex Project.
• Bridge item of Cat Tien – Diem Van road section under Binh Dinh Province Coastal Road Project.
• Infrastructure item under Becamex Binh Dinh Industrial Park Project.
• Leveling work item under Long Thanh International Airport – Phase 1.

Currently, C47 is continuing to negotiate with the project owners and partners to expand the scope of work, adding the contracts and the contract addendums for the on-going projects in order to optimize the construction revenue and profit. In addition, C47 is promoting of bidding and contract negotiating for new projects in 2022-2023 with total value of about VND 5,000 billion, ensure continuous works for the coming years. Previously, in 2021, C47 signed and commenced the construction works with total contracted value of nearly VND 2,000 billion for implementation period from 2021 to 2025, such as Hoa Binh Hydropower Plant Expansion Project (Hoa Binh province), Phu Phong Wier Dam Project (Binh Dinh province), Separate Wastewater Collection System and Rain Water Transfer Sewers to Han River Project (Da Nang city), Ta Hoet Reservoir Project (Lam Dong province).

For the sectors of hospitality and travel services of C47, after nearly two years of “freezing” in 2020 and 2021 because of the Covid-19 pandemic, 2022 is seeing a strong recovery. Besides owning 100% of system of 2 hotels including 4-star Hai Au Hotel with 170 guest rooms and 3-star Hai Au Bien Cuong Hotel with 80 guest rooms, and a system of Hai Au restaurants, Cafe & Bar at the hotels, C47 also owned 100% of Hai Au Travel Service Co., Ltd., regularly organizes domestic and foreign tours to serve customers in many provinces. This system sets a revenue target of more than VND 100 billion in 2022, EBITDA over VND 30 billion. This is also the sector that makes a significant contribution to C47’s annual business performance.

Was highly appreciated on its construction capacity, progress and quality, Construction Joint Stock Company 47 (HOSE: C47) continuously signed a contract amendment with the Client – Hoa Phat Dung Quat Steel JSC for additional works valued more 109 billion dong, rising the signed contract amount up to 250 billion dong.

On June 10, 2022, Construction JS Company 47 (HOSE: C47) and the Client – Hoa Phat Dung Quat Steel JSC signed the Contract Amendment No.3: Construction for excavation and levelling at coordinates of N30, N29, N27, N14, N11, 8, P4, P5 – Hoa Phat Dung Quat Steel Integrated Complex Project – Phase 2.

Hoa Phat Dung Quat Steel Integrated Complex Project – Phase 2, with construction area of over 280 hectares, located next to Hoa Phat Dung Quat Steel Integrated Complex Project – Phase 1, designed capacity of 5.6 mill HRC per year, total investment of VND 85,000 bill owned by Hoa Phat Dung Quat Steel JSC, expected on 2024 the complex shall be completed and commercial operation.

Signing the contract amendment for works, C47 affirmed its trademark, prestige and professional skill on management, operation and construction of the PJT works have been undertaken. As well as showing the development trend that oriented by the Company’s leaders for 2020-2025 period.

The C47’s Board of Directors (BOD) met and agreed to elect Mr. Le Dong Lam for the position as Vice Chairman of the Board for term 2020-2025.

On July 5, 2022, the Board of Directors of Construction Joint Stock Company 47 (HoSE: C47) elected Mr. Le Dong Lam – currently a member of the Board for the position as Vice Chairman of the Board for term 2020 – 2025, replacing Mr. Ta Nam Binh who has just issued a resignation application by personal wants and working conditions. Mr. Binh is currently an independent member of the C47’s BOD.

Mr. Le Dong Lam, born in 1980, holds a M.B.A degree. At the 2022 Annual General Meeting of Shareholders on April 24, 2022, Mr. Lam was appointed to the C47’s BOD Member with 100% approval rate. Currently Mr. Lam is the CEO and Member of the Board of PPG Vietnam Co., Ltd., a part of PPG Group of USA – the paint firm with the largest sales in the world.

Past time, Mr. Le Dong Lam has successfully bought nearly 800,000 C47-shares, increasing his holdings up to 961,000 C47-shares, accounting for 3.49% of the share capital. From July 6 to August 4, 2022, Mr. Lam continued a new registration to buy and order matching for another 500,000 C47-shares, shall increase his holding rate up to 5.3% if the transaction is successful.

Addition of Mr. Le Dong Lam’s management and operation experience applied for the companies which the past and current in charge of, especially domestic and international experience in industrial projects, he will work with the C47’s BOD to set up and execute a new era adaptable business strategy, expanding business scopes related to industrial infrastructure and energy, bringing C47 to new heights.