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Does anyone have any interest in this stock besides me?
Did anyone know there was a new PR firm? I contacted the old one a few days ago and was informed that they were replaced back around August.
We finally made it. I wonder if the ride will begin? Anyone buying more? I'm considering a little more.
LOS ANGELES & HANOI, Vietnam -- Cavico Corp. ("Cavico" or "the Company") (OTCBB:CVIC), a leading infrastructure development company in Vietnam, today announced that on April 22, 2009 the Company's subsidiary, Cavico Vietnam entered into an agreement with Laos Ministry of Planning and Investment to explore and exploit copper, gold, and other ores in Muang Hom district, Vientiane province, Laos.
Anyone think that maybe CAVICO is sitting on contract news until after the NASDAQ listing? It's been pretty quite recently.
HANOI, Vietnam--(BUSINESS WIRE)--Cavico Corp. (OTCBB: CAVO - News), a leading infrastructure development company based in Vietnam, today announced that its wholly owned subsidiary, Cavico Transport Construction JSC (“Cavico Transport”) has received additional work from the Dakdrinh Hydropower Joint Stock Company for stone processing related to Dakdrinh’s hydropower plant located in Son Tan village, in the Quang Ngai province. Phase I of Cavico’s original agreement was for stone processing with revenues of $1.4 million. Recently, the scope of work was increased significantly and the revenue increased by an additional estimated $12 million.
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In Phase II of the Dakdrinh project, Cavico will extract and process rock at the project’s Stone Mine No.5. The processed stones will be used for other construction purposes. The scope of the work will include dynamite blasting, transporting stones to and from processing facilities, storage and delivery of the processed stones to other contractors at the project site. Cavico expects the contract to be completed within four years.
The Dakdrinh facility, a 125 Megawatt hydropower plant, is considered to be the largest hydropower plant on Tra Khuc River and services power to Vietnam’s central region. The plant, which has an investment capital of $177 million, is expected to generate about 521 million kilowatt-hours per year.
“This increase in the scope of work for Dakdrinh Hydropower reinforces our commitment to provide high-quality services to our customers. We continue to strengthen our relationships with existing customers and are delighted to be awarded such a significant contract within a short period of time,” stated Mr. Hai Thanh Tran, vice president of Cavico Corp. “We look forward to providing further services to Dakdrinh as they continue to grow their business.”
Vietnam’s Cavico plans to list shares on Nasdaq in September
Vietnam’s Cavico plans to list shares on Nasdaq in September Cavico Corp., a construction and mining company, expects to list its shares on Nasdaq Stock Market as early as next month.
The company increased its share price through a reverse stock split earlier this month to help meet Nasdaq listing rules, said Executive Vice President Tran Manh Hung.
Every 40 shares were converted into 1 common share, he said by phone Friday.
“If our shares traded on the US’s OTC Bulletin Board maintain at more than $4 for about 30 days, we expect to get Nasdaq listing approval in September,” Hung said.
A Nasdaq listing may help bolster the company’s reputation with international investors, Hung said.
Shares of Hanoi-based Cavico last traded at $6.18 on the OTC Bulletin Board, an over-the-counter trading platform, on August 19, according to the OTC Bulletin’s website.
I agree that they need he capital. Not sure if I'll buy more or wait.
Cavico Tunnel Bridge Construction Co. conducts overseas projects
Posted: Wednesday, February 11, 2009
Catalogues: Cavico
VNStockNews - Cavico Tunnel Bridge Construction Joint Stock Co (under Cavico Viet Nam) will start key construction items of Thuen HinBoun hydropower project expansion in Laos by the end of this month.
This is the result of the 6-month negotiation with the main contractor of the project including a power plant near the Theun HinBoun 220 MW factory, and new Nam Gnoung 60 MW plant with the total initial signing value of US$6.257 million.
The project is expected to finish by February 2011.
The firm is carrying out a tunnel bridge for the 400-kilometre expressway project in Algeria. The work will be finished in April 2010.
VNStockNews.com - Cavico Corp., a leading infrastructure construction company in Vietnam, today announced that it has filed an application to list its common stock on the NASDAQ Capital Market.
Upon approval, Cavico will become the first Vietnamese company to list on a U.S. national securities exchange. Cavico’s listing application is subject to review and approval by NASDAQ’s Listing Qualifications Department for compliance with all NASDAQ Capital Market standards. The Company believes it currently meets NASDAQ’s eligibility requirements with the exception of a minimum bid price of $4.00. However, Cavico’s shareholders recently approved a reverse stock split of the Company’s common stock, which will assist Cavico in meeting the minimum stock price requirement. The Company is working diligently with NASDAQ to complete the application process. Cavico’s common stock will continue to trade on the OTC Bulletin Board under its current symbol, CVIC, until NASDAQ approves the Company’s application.
The listing application to NASDAQ was first disclosed in the Company’s registration statement on Form S-1. This registration statement for a secondary offering was filed on May 22, 2009 but has not yet been declared effective by the Securities and Exchange Commission. Copies of the registration statement and other documents filed with the SEC by Cavico may be obtained through the web site maintained by the SEC at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Application for Nasdaq was submitted.
I found it somewhere, but I don't remember where.
Now we just applied to the NASDAQ. Let's hope for the best.
Cavico Corp. Files Application for NASDAQ Capital Market Listing
June 11, 2009 10:25 AM ET
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Cavico Corp. (“Cavico” or “the Company”) (OTC BB: CVIC), a leading infrastructure construction company in Vietnam, today announced that it has filed an application to list its common stock on the NASDAQ Capital Market.
Upon approval, Cavico will become the first Vietnamese company to list on a U.S. national securities exchange. Cavico’s listing application is subject to review and approval by NASDAQ’s Listing Qualifications Department for compliance with all NASDAQ Capital Market standards. The Company believes it currently meets NASDAQ’s eligibility requirements with the exception of a minimum bid price of $4.00. However, Cavico’s shareholders recently approved a reverse stock split of the Company’s common stock, which will assist Cavico in meeting the minimum stock price requirement. The Company is working diligently with NASDAQ to complete the application process. Cavico’s common stock will continue to trade on the OTC Bulletin Board under its current symbol, CVIC, until NASDAQ approves the Company’s application.
The listing application to NASDAQ was first disclosed in the Company’s registration statement on Form S-1. This registration statement for a secondary offering was filed on May 22, 2009 but has not yet been declared effective by the Securities and Exchange Commission. Copies of the registration statement and other documents filed with the SEC by Cavico may be obtained through the web site maintained by the SEC at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
It looks like the 40 to 1 split just went through.
Yes, and a pretty large one. I've owned Cavico for several years now. Hopefully, the share price will start to improve so I can come close to breaking even...but then again, I love working!
Another contract!
June 18, 2009 13:30 UTC
Cavico Wins the Bidding for Package 4 of Da Ban Irrigation Dam Contract Valued at $2.5 Million
LOS ANGELES & HANOI, Vietnam--(BUSINESS WIRE)-- Cavico Corp. (“Cavico” or “the Company”) (OTCBB:CVIC), a leading infrastructure development company in Vietnam, today announced that Cavico Energy Construction JSC (“Cavico Energy”), a wholly own subsidiary of Cavico Corp, won the contract bid involving construction of an overfill spillway (Package 4) for Da Ban Irrigation Dam. The minister of the Vietnam Ministry of Agriculture and Rural Development signed the winning bid for Cavico Energy valued at approximately $2.5 million.
As part of the contract, Cavico Energy will be responsible for excavating and removing 160,000 cubic meters (m3) of common earth and rock for dam foundation and constructing 9,000 cubic meters (m3) of concrete walls and water slopes. Cavico Energy is required to complete the contract within 27 months.
Supported by the world organization Official Development Assistance (ODA) funds, the 162-square-kilometer Da Ban Irrigation Dam was constructed in the 1980s and is located in the Ninh Hoa district, north of Khanh Hoa province, Vietnam. The 26-meters high and 348-meters long dam has a reservoir volume of 79.2 million cubic meters and provides water to 9000 hectares of farming land in the south central region of Vietnam. It has recently been upgraded and modernized as a result of increasing demand for farming activities and the growing population in this region.
“With our valuable experience at the Buon Tua Shar, Ka Nak, and Ba Ha projects, we are confident that our team will successfully complete this project in a timely and efficient manner,” commented Mr. Ha Thanh Trung, president of Cavico Energy. “The winning of the contract reflects Cavico’s positive market reputation and the Ministry’s confidence in our capabilities in the fields of irrigation and hydropower construction.”
Cavico Corp. Files Application for NASDAQ Capital Market Listing
LOS ANGELES & HANOI, Vietnam--(BUSINESS WIRE)-- Cavico Corp. (“Cavico” or “the Company”) (OTC BB: CVIC), a leading infrastructure construction company in Vietnam, today announced that it has filed an application to list its common stock on the NASDAQ Capital Market.
Upon approval, Cavico will become the first Vietnamese company to list on a U.S. national securities exchange. Cavico’s listing application is subject to review and approval by NASDAQ’s Listing Qualifications Department for compliance with all NASDAQ Capital Market standards. The Company believes it currently meets NASDAQ’s eligibility requirements with the exception of a minimum bid price of $4.00. However, Cavico’s shareholders recently approved a reverse stock split of the Company’s common stock, which will assist Cavico in meeting the minimum stock price requirement. The Company is working diligently with NASDAQ to complete the application process. Cavico’s common stock will continue to trade on the OTC Bulletin Board under its current symbol, CVIC, until NASDAQ approves the Company’s application.
The listing application to NASDAQ was first disclosed in the Company’s registration statement on Form S-1. This registration statement for a secondary offering was filed on May 22, 2009 but has not yet been declared effective by the Securities and Exchange Commission. Copies of the registration statement and other documents filed with the SEC by Cavico may be obtained through the web site maintained by the SEC at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
VNBusinessNews.com - Cavico Transportation Construction Co. started constructing a $57 million wind-power plant in Vietnam's Central Highlands, state media said Tuesday.
The 30-megawatt plant is located in the tourist city of Da Lat, 300 kilometers northeast of Ho Chi Minh City, Vietnam News Agency said, citing a local government official it didn't identify.
The plant will feature 20 wind turbines of 1.5 MW each, and is scheduled to start operations from late 2011, the report said. (Dow Jones)
Cavico Corp. Files Registration Statement for Secondary Public Offering
LOS ANGELES & HANOI, Vietnam--(BUSINESS WIRE)-- Cavico Corp. (“Cavico” or “the Company”) (OTC BB: CVIC), a leading infrastructure development company in Vietnam, today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission (“SEC”) for a proposed secondary public offering of its common stock. It is currently contemplated that the offering will consist of the sale of approximately $15 million worth of the Company’s securities. Cavico plans to use the proceeds from the offering for general corporate purposes and investments in civil construction projects and other commercial projects, including mining projects, cement factories, urban development projects and Cavico Tower, Cavico’s office tower development in Hanoi.
The registration statement was filed on May 22, 2009 and has not yet been declared effective. The securities referred to in the registration statement may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The offering, which is expected to be commenced immediately following the effectiveness of the registration statement, will only be made by means of a prospectus. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Copies of the registration statement and other documents filed with the SEC by Cavico may be obtained through the web site maintained by the SEC at www.sec.gov.
About Cavico Corp. (OTCBB: CVIC)
Cavico Corp. is focused on large infrastructure projects, which include the construction of hydropower facilities, dams, bridges, tunnels, roads, mines and urban buildings. Cavico is also making investments in hydropower facilities, cement production plants and urban developments in Vietnam. The company employs more than 3000 employees on projects worldwide, with offices throughout Vietnam and a satellite office in Australia.
Founded in 2000, Cavico is a major infrastructure construction, infrastructure investment and natural resources conglomerate headquartered in Hanoi, Vietnam. Cavico is highly respected for its core competency in the construction of mission-critical infrastructure including hydroelectric plants, highways, bridges, tunnels, ports and urban community developments. One of the Company’s primary competitive advantages is its ability to nurture a project “from concept through completion” with a vertical portfolio of interrelated investment, permitting, design, construction management and facility maintenance services. Cavico’s project partners include top multi-national corporations and government organizations. The Company employs more than 3,000 full-time, part-time, and seasonal workers. For more information, visit http://www.cavicocorp.com. Information on the Company’s Web site or any other Web site does not constitute a portion of this release.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's ability to obtain the necessary financing to continue and expand operations, to market its construction services in new markets and to offer construction services at competitive pricing, to attract and retain management, and to integrate and maintain technical information and management information systems; the effects of currency policies and fluctuations, general economic conditions and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. These statements include, without limitation, statements regarding our ability to prepare the Company for growth, the Company's planned expansions, and predictions and guidance relating to the Company's future financial performance. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Good find! I was looking in the VN news, but didn't see it.
The company is in Vietnam. The website is below.
http://cavicocorp.com/web/cavico/default.html
I agree. It's only a matter of time before Cavico begins to move.
Getting started!
Cavico Subsidiary Receives Investment Certificate for the Lam Dong Wind Power Plant
LOS ANGELES & HANOI, Vietnam--(BUSINESS WIRE)-- Cavico Corp. (“Cavico” or “the Company”) (OTC BB: CVIC), a leading infrastructure development company in Vietnam, today announced that Cavico Transportation, the Company’s wholly owned subsidiary, received the investment certificate from the Lam Dong’s People Committee for the windpower plant in Cau Dat-Xuan Truong Village, Da Lat City, Lam Dong province.
Cavico had earlier announced that it planned to actively pursue wind energy projects. The receipt of the investment certificate is the final legal documentation required for the Company to develop a wind power plant as a builder-owner-operator (BOO). Lam Dong’s People Committee also approved the plant’s location at which Cavico has conducted feasibility studies and measured the available wind power. Cavico expects the entire process of completing construction work and commencing operations to take three years. From now through the end of 2010, the Company plans to meet with potential co-investors, select a CDM partner (Clean Development Mechanism, a Kyoto Protocol mechanism to assist industrialized countries reducing their greenhouse gas emissions), determine engineering and technological requirements, and negotiate the electricity selling price with the Vietnamese government. Upon finalizing these details, Cavico will begin construction work, import the required equipment, and install the wind turbines.
In the first phase of the project, Cavico plans to construct a 30 megawatt (MW) windpower plant which upon completion will be connected to the national grid. According to the results from studies by the Company’s consultant firm, PECC 3 (Power Engineering Consulting Company 3) the plant may be expanded to 100-300 megawatt. Cavico expects the plant will use 350 hectares of land of which 10.8 hectares will be permanently occupied. A total of 339.2 hectares of land will be impacted by this plant. Cavico projects that total capital investment on this project will be approximately $56.6 million. The Company plans to invest equity of $11.4 million, about 20% of the total capital investment, in the project and finance the remaining amount with debt.
“We are happy to report the successful receipt of the investment certificate for the wind power plant. Results from our preliminary studies show that there is a huge potential for wind power in the Lam Dong province,” commented Mr. Thanh Vu Tran, President of Cavico Transportation. “The Vietnamese government has an increased focus on clean energy projects. We have received increased amount of support and encouragement from the Lam Dong’s People Committee and local government. We have also received a lot of interest from investors and financing groups. We strongly believe that the wind power plant will contribute significantly in easing the electricity shortage problems in Vietnam.”
I think if we could just get some financing we may be able to complete more projects and take on more. It appears there is plenty to do and the government is willing to spend the money. Also, I would like to see additional contracts in other countries. I'm really hoping they can move to the NASDAQ and the exposure will benefit. Any thoughts?
Cavico Won the Bidding for a Portion of Ngan Truoi Reservoir Contract Valued at $8.5 million
LOS ANGELES & HANOI, Vietnam--(BUSINESS WIRE)-- Cavico Corp. (“Cavico” or “the Company”) (OTC BB: CVIC), a leading infrastructure development company in Vietnam, today announced that on May 11, 2009 it was awarded a contract for $8.5 million from the Vietnam Ministry of Agriculture and Rural Development for construction at Ngan Truoi reservoir of Ngan Truoi Irrigation Dam. Cavico won the bidding for a portion of the reservoir project located at Vu Quang village, Ha Tinh province.
Cavico will be responsible for the construction of a diversion dam and a flood spillway with a diameter of seven meters and a length of 287 meters. Cavico expects to start the construction toward the end of May 2009 and complete the project within 20 months.
The Ngan Truoi irrigation dam project is being developed by the Ministry of Agriculture and Rural Development with a capital investment of approximately $167 million. The Ngan Truoi project was initially approved by the Vietnam Government Office in 2006 and is considered the most critical project of this province and the Ministry. This large project is divided into many portions and contracts which are being awarded at different stages of the project. Upon completion, the dam will provide water to 35,000 hectares of farming land in the six provinces north of Ha Tinh. It also will reduce the damages from the Song La River during flooding season and provide a 20MW power plant.
“We are delighted that the Ministry of Agriculture and Rural Development continues to trust and select Cavico as the main contractor for projects of which they act as the main investor,” commented Mr. Phuc Minh Pham, President of Cavico Vietnam. “After Ta Trach irrigation dam in Hue, this is the second project that the Ministry has awarded to Cavico. We are confident that with our capability and reputation, we will successfully complete the project as planned. We also hope to be awarded other larger construction packages at the Ngan Truoi irrigation dam.”
Cavico Corp. Held Special Meeting of Shareholders
HANOI, Vietnam & LOS ANGELES--(BUSINESS WIRE)-- Cavico Corp. (“Cavico” or “the Company”) (OTC BB: CVIC), a leading infrastructure development company in Vietnam, announced that it held its Special Meeting of Shareholders on April 27, 2009, in Huntington Beach, California. At the meeting, shareholders cast 93,535,396 votes totaling 71.4% of the shares outstanding.
At the meeting, Cavico’s shareholders approved a proposal to grant discretionary authority to Cavico’s Board of Directors to effect a reverse stock split of Cavico’s common stock at any whole number ratio between 1 for 20 and 1 for 60 (“Proposal 1”). The Board of Director’s decision whether or not to affect the Reverse Stock Split, and at what whole number ratio, will be based on a number of factors, including market conditions, existing and anticipated trading prices for Cavico’s common stock and the initial listing requirements of the national securities exchanges.
The Company’s shareholders also overwhelmingly approved an amendment to the Company’s Certificate of Incorporation to change the terms of the authorized shares of preferred stock to make the authorized shares “blank check” preferred stock (“Proposal 2”). The shareholders also approved an incentive plan to help the Company attract, retain, and motivate officers, employees, directors, and consultants (“Proposal 3”).
The voting results by percentage for each proposal were:
AS A PERCENTAGE OF 93,535,396 SHARES VOTED
Proposal
Yes
No
Abstain/Broker Non-Vote
Proposal 1 97.7% 2.3% -
Proposal 2 89.3% 10.5% 0.2%
Proposal 3 87.7% 12.1% 0.2%
AS A PERCENTAGE OF 130,997,693 SHARES OUTSTANDING
Proposal
Yes
No
Abstain/Broker Non-Vote
Proposal 1 69.8% 1.6% -
Proposal 2 63.8% 7.5% 0.1%
Proposal 3 62.6% 8.6% 0.2%
About Cavico Corp. (OTCBB: CVIC)
Cavico Corp. is focused on large infrastructure projects, which include the construction of hydropower facilities, dams, bridges, tunnels, roads, mines and urban buildings. Cavico is also making investments in hydropower facilities, cement production plants and urban developments in Vietnam. The company employs more than 3000 employees on projects worldwide, with offices throughout Vietnam and a satellite office in Australia.
Founded in 2000, Cavico is a major infrastructure construction, infrastructure investment and natural resources conglomerate headquartered in Hanoi, Vietnam. Cavico is highly respected for its core competency in the construction of mission-critical infrastructure including hydroelectric plants, highways, bridges, tunnels, ports and urban community developments. One of the Company’s primary competitive advantages is its ability to nurture a project “from concept through completion” with a vertical portfolio of interrelated investment, permitting, design, construction management and facility maintenance services. Cavico’s project partners include top multi-national corporations and government organizations. The Company employs more than 3,000 full-time, part-time, and seasonal workers. For more information, visit http://www.cavicocorp.com. Information on the Company’s Web site or any other Web site does not constitute a portion of this release.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company's ability to obtain the necessary financing to continue and expand operations, to market its construction services in new markets and to offer construction services at competitive pricing, to attract and retain management, and to integrate and maintain technical information and management information systems; the effects of currency policies and fluctuations, general economic conditions and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. These statements include, without limitation, statements regarding our ability to prepare the Company for growth, the Company's planned expansions, and predictions and guidance relating to the Company's future financial performance. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts
Cavico, Corp.
Timothy Pham, 714-843-5456
Vice President and Director
cavicohq@cavico.us
or
CCG Investor Relations Inc.
Roger Ellis, 310-477-9800
Senior Vice President
Roger.ellis@ccgir.com
http://www.ccgir.com
Source: Cavico Corp.
View this news release online at:
http://www.businesswire.com/news/home/20090429005665/en
Good question. I received an email from Roger and he informed me that the numbers should be out by the 15. Should be interesting.
Any word on the numbers?
Roger Ellis
Sorry, my previous post was a response to an email by their PR firm.
As fyi re Cavico:
Cavico is moving ahead on plans to do a reverse stock split. Cavico sent out a notice to current shareholders that a reverse stock split would be submitted to shareholders for approval. No timeline was set for securing shareholder approval, but we assume it will coincide with the Annual Shareholders Meeting in late April. The reverse stock split ratio would be set by the target stock price to list either on the NASDAQ or the newly rebranded NYSE AMEX Exchange. Cavico management is considering the advantages/disadvantages of both exchanges and the post reverse stock price necessary to meet listing standards.
At this point only a few investment banks have visited Vietnam. The extreme US market conditions and continued economic slow down has discouraged many funds from visiting Vietnam. Cavico is developing a virtual video tour of Vietnam to incorporate into a virtual road show concept to encourage more investors to visit Vietnam. A NYC retail brokerage firm is putting together a tour of Asia to include mainland China, Hong Kong and Vietnam. Concern about current US market conditions keep pushing back the date of this trip.
Cavico presented at the Rodman & Renshaw Conference in November 2008 and is tentatively set to repeat at the November 2009 Conference. Cavico has been invited to the DA Davidson Conference in September in San Francisco. Cavico will be presenting as part of the Vietnam track at the China Rising Conference in NYC on May 18th. Cavico is considering presenting at the Las Vegas Money Show for retail investors on May 11-14. Cavico is currently pursing an invitation to present at the Oppenheimer Conference in NYC on May 20-21. Cavico is also considering attending various for-pay conferences in NYC later in the year.
The deadline to file the year end financials is tomorrow March 30th unless they file for a 10 day extension. If they file the 10K tomorrow, we will issue a press release and schedule an earnings conference call before market open on Wednesday. The auditing firm is reviewing the numbers and will make the final recommendation.
For Cavico, I don’t agree that a reverse split is a bad thing. They need to migrate to the NASDAQ or NYSE for the exposure. It depends on what they do after the split that will determine if it was good or bad. I’m sitting on 85,000 at .57, and right now, I’m not a happy camper…
I wonder if new contracts are about to happen? Any thoughts?
So far, they have been doing exactly what they said they would be doing...a good sign.
Some high vol. I wonder if they are still looking to uplist in the first qtr?
Down .01, not worried about a penny. It's under 10%...
Did anyone take a look at the new website? The PR firm said they would be putting up a new one in Feburary and they did! Let's hope they are on schedule for the NASDAQ move!
I too miss Walt...
Good News?
Strong Vietnamese Economy Signals Robust Growth for Cavico
Monday February 9, 9:00 am ET
LOS ANGELES & HANOI, Vietnam--(BUSINESS WIRE)--Cavico Corp. (“Cavico” or “the Company”) (OTC BB: CVIC - News), a leading infrastructure development company in Vietnam, today announced that the Company doesn’t foresee any negative impact on the Vietnamese government’s planned infrastructure spending for 2009 due to the current global financial crisis. Cavico management believes that infrastructure growth continues to remain top priority for Vietnam.
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Martin Rama, the World Bank’s Acting Country in Vietnam, was quoted as saying “Vietnam’s forecast GDP growth will take the lead in the South East Asia next year,” explaining that Vietnam is better at dealing with crisis than other countries in the region thanks to its economic restructuring before. The high GDP forecast of 6.5% is based on Vietnam’s FDI (Foreign Direct Investment) attraction and exports. Despite the global downturn, Vietnam’s exports posted 34% growth from Jan-Nov, and attracted $59.3 billion in first ten months, which is equivalent to two thirds of the country’s GDP value. The World Bank also predicted that the government will boost spending in the coming months.
Vietnam has topped a list of 2008’s biggest investors in Laos, implementing 146 projects with a total investment capital of $758 million. Vietnam’s projects in Laos are predominantly in the fields of mining, agriculture and forestry product processing, and hydro-power plant construction in Southern Laos. Lao Deputy Prime Minister and Minister of Foreign Affairs, Thongloun Sisoulith said in an interview that “Laos and Vietnam have enjoyed a close, long-lasting and historic relationship of friendship and cooperation in all aspects.”
“We continue to remain positive and confident of Vietnam’s strong growth potential. Cavico’s business growth is highly correlated to Vietnam’s economic and infrastructural development. Cavico is one of the largest and highly efficient hydropower and mining construction companies in the country. We believe Vietnam’s attractive growth outlook in 2009 combined with close ties with Laos will be favorable for Cavico’s future growth potential. In a span of two weeks in the month of January 2009 we have secured two hydropower tunnel construction projects, one in central Vietnam and one in Laos, totaled at $16 million,” commented Mr. Hung Manh Tran, executive vice president of Cavico Corp. “Our senior management has strong relationship with government officials which provide us a leading competitive edge and we expect to sign many more contracts in 2009.”
Any thoughts on today's volume?
Something from the PR company:
Mike,
Cavico is moving forward on the reverse stock split. We don’t have a timeline set. Market conditions are still a factor, but we anticipate that a window of opportunity will open in Q1 or early Q2 2009. Cavico management is considering several options to develop the best strategy and timing. I know Hung discussed the issues in play with John at the Rodman Conference.
We also met with several brokerage firms in November willing to put together a retail and institutional outreach to their investor client base in support of the reverse stock split for targeting new investors, arranging block trades and laying out options for any future capital raises.
Cavico management mentioned on the road show that selling off partnership interests in real estate projects would be an alternative method of raising capital in lieu of attempting a PIPE or secondary offering in current market conditions and at current stock price. We also met with a few US REIT and real estate investment funds as part of this process to find new real estate partners.
We met with several interested micro cap funds on the November road show. Current market conditions were the most often cited reasons for not taking a position in Q4 2008. We are doing follow up meetings with these interested funds as part of their due diligence. Three buy-side funds, four sell-side research analysts and a group of retail stock brokers at a NYC small brokerage firm have expressed an interest in visiting Vietnam in Q1 2009. We are in further discussion with these funds and individuals to arrange their visits.
We also met with a few select sell-side analysts who cover emerging markets and global construction and energy stocks. We anticipate that we will get invited to at least three US investor conferences sponsored by these analysts in Q1 2009, Q2 2009 and Q3 2009. We will schedule US road shows around these investor conferences.
We are also setting up and beginning filming of all Cavico projects with the video to be completed in February to be incorporated into a virtual tour of Vietnam. The feedback from the road show confirmed that many potential investors can’t grasp the scale and scope of Cavico projects. We will be incorporating the video into a virtual tour of Vietnam as part of an expanded video teleconference outreach program to target additional institutional investors and sell-side research analysts. We will also put the video on the new corporate website that will go active in February.
I assume you already saw the recent press releases on 2008 and 2009 outlook as well as the announcement for the wind energy initiative.
I will keep you updated on these developments. We expect to announce Q4 2008 and full year 2008 results on schedule in March followed by a conference call.
There may be a reverse stock split so we can move up. Anyone interested?
More good news to come!
LOS ANGELES & HANOI, Vietnam - (Business Wire) Cavico Corp. (“Cavico” or “the Company”) (OTC BB: CVIC), a leading infrastructure development company in Vietnam, today announced that the Company’s wholly owned subsidiary, Cavico Hydropower Construction, was awarded a $9.8 million construction contract by Song Giang 2 Hydropower Joint Stock Company (“Song Giang”) on January 12, 2009.
Cavico Hydropower will be responsible for the construction of a 3,900 meter long headrace tunnel, two sub tunnels of total 650 meters in length, and a 42 meter tall surge tank. Cavico Hydropower expects to complete the construction within a period of 20 months. The first phase of the project which will involve site preparation is expected to commence in the first quarter of 2009.
Song Giang 2 hydropower plant will be built on the Song Giang River. This plant will be located southwest of Khanh Hoa province, which is 30 miles away from Nha Trang city. Upon completion, the 37 megawatt hydropower plant is expected to generate 141 million kilowatt-hour of electricity annually. The plant will be connected to the national grid to help to ease the shortage of electricity supply in the country. The Song Giang 2 hydropower plant has a total estimated value of approximately $50 million and is considered to be one of the largest hydropower projects in the Khanh Hoa province.
“We are pleased to announce our first contract of the year 2009. We believe the construction of the hydropower plant is a great start for the year as we have an experienced team of professionals deployed to work on this project,” commented Mr. Hai Thanh Tran, vice president of Cavico. “We expect to enter into additional contracts during the year as the Vietnamese government intends to revive the economy by encouraging additional infrastructure projects.”