The Board of Directors approved the transfer of the Group's total capital contribution at MATEC Construction Machinery Company Limited to investors with sufficient financial capacity.

Recently, Hoa Binh Construction Group (Stock code: HBC) announced Resolution No. 32/2023 of the Board of Directors approving the transfer of all the Group's contributed capital at MATEC Construction Machinery Company Limited to investors with sufficient financial capacity.

MATEC Construction Machinery Company Limited was established in 2010 with a 100% capital contribution from Hoa Binh Construction Group. Matec operates in the field of buying, selling, or leasing construction machinery and equipment for the construction of large and small projects throughout the country. During more than ten years of operation, MATEC has constantly built and developed into a reputable company, providing customers with the best services with the criterion "Friendly - Professional - Effective." MATEC manages many machinery and equipment such as tower cranes, concrete placing booms, hoists, containers, concrete pumps, aluminum formwork, wheel loaders, etc. Matec's equipment is now stored at warehouses in Hanoi, Phu Quoc, Ho Chi Minh City, Long An, etc.

Hoa Binh Construction Group has also discussed with investors to negotiate the transfer, and after this resolution, the two sides will officially deploy. The total value of the transfer and a part of depreciated equipment is expected to be more than VND 1,100 billion and added to the working capital for Hoa Binh Construction Group. This capital source will help Hoa Binh's financial have stable liquidity, ensuring business activities are maintained and developed.

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