Cavico Corp (fka CAVO)

[98point6NY]

Hey Goldie, how about these...

Tue, Jul 11, 2006
• Cavico Corporation Begins Inlet Tunnel Excavation on the $333 Million Dong Nai 4 Hydropower Project
Marketwire (Tue, Jul 11)

Tue, Jul 18, 2006
• Cavico Corporation Begins Construction of USD $211 Million SEREPOK 3 Hydropower Project
Marketwire (Tue, Jul 18)

Wed, Jul 26, 2006
• Cavico Corporation Signs US $16.625 Million Bank Loan Agreement for Construction Financing of Chien Ngan City Urban Project
Marketwire (Wed, Jul 26)

Mon, Jul 31, 2006
• Cavico Corporation to Begin Tunnel Works Excavation for USD $24 Million Nam Chien Hydropower Company Project
Marketwire (Mon, Jul 31)

Wed, Aug 2, 2006
• Cavico Corp Provides Forward Guidance to Investment Community, With Revenues for FY2006 to Exceed $80 Million and $130 Million Projected for FY2007
Marketwire (Wed, Aug 2)

Fri, Aug 4, 2006
• US $375 Million in Funding for Dong Nai 3 and Dong Nai 4 Hydropower Complex Completed
Marketwire (Fri, Aug 4)

• Cavico Corp Signs New Contract to Begin Service Road Work on the USD $168 Million ALuoi Hydropower Plant Project
Marketwire (Fri, Aug 11)

Here is the Press Release on the 500 million backlog, seems to be pretty specific. I believe YOU HAVE AN AGENDA!!!

Press Release Source: Cavico Corporation

Cavico Corp Reports US $500 Million Backlog, Company Reviews Active Projects and Historical Revenues
Wednesday August 16, 2006 6:30 am ET

LOS ANGELES, CA and HANOI, VIETNAM--(MARKET WIRE)--Aug 16, 2006 -- Cavico Corporation (Other OTC:CVCP.PK - News), a Vietnamese company working in the fields of infrastructure development, including the construction of hydropower facilities, dams, bridges, roads, mines and urban buildings throughout Viet Nam and the Pacific Rim, has reviewed historical revenues and backlogged projects in order to present the following update to its shareholders.

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Cavico, which is perhaps the only pure play available to US investors on Viet Nam's rapidly growing infrastructure development, was founded in 2000 as a construction and engineering firm specializing in large scale infrastructure and urban development projects. Merrill Lynch has stated that, "Vietnam will be the fastest-growing Asian country in the next 10 years..." and that, "Vietnamese shares were a 10-year buy on the strength of recent policy changes."

Cavico's first year revenues were US$ 2.8 million (un-audited), and have grown strongly since inception. Un-audited revenues for 2005 were US$ 45 million. The Company has projected to grow 2006 revenues conservatively to US$ 70 million and forecasted US$ 130 million for 2007. Cavico earned US$ 1 million (un-audited) in 2005, expects income to grow to US$ 7 million in 2006 and US$ 14.3 million in 2007. Cavico is cash flow positive, with current assets totaling over US$ 64 million. Current shares issued and outstanding are 93,142,282.

According to Timothy Pham, Executive Vice President and Secretary for Cavico, "We are working very hard to get our financial statements audited under US GAAP. This is extremely important and we are focused on the task at hand." He added, "As stated in a previous release, Cavico's goal is to have this process completed in the next few months and then apply to list our shares on a senior exchange. This should give us the ability to attract longer term interest in Cavico and enable us to fully capitalize on our status as a US public company."

Cavico estimates that its current backlog of infrastructure projects is approximately US$ 500 million. The backlog is forecasted through 2009. "Viet Nam's infrastructure construction boom continues to positively effect Cavico's operations," stated Mr. Son D Pham, Chief of Cavico's Planning and Marketing Department. An August 12th, Boston Globe article stated that, "Hanoi has plans to spend an estimated US$ 115 billion on infrastructure over the next five years," and "The government also has a stated plan to attract US$ 25 billion in direct foreign investment over the next five years, and investors poured $5.8 billion into Vietnam last year alone, helping the economy grow 8.5 percent and making it one of Asia's hottest, according to the Asian Development Bank."

Cavico, as the largest non-state owned construction company in Viet Nam, should benefit greatly from spending directed toward infrastructure development. Over the past several months Cavico has announced the following projects (beginning with the most recent):

-- August 11 - Signed a new contract to begin work on the US$ 168 million
ALuoi Hydropower Plant project. Cavico has been sub-contracted to build
the service roads for the project. ALuoi is an important contract for
Cavico, as it opens the door for the company to secure a larger role as a
main contractor as the project matures;

-- August 7 - Cavico completed initial boring for the Dai Ninh Hydropower
project tunnel. Cavico uses a state-of-the-art Tunnel Boring Machine
(TBM), in fact it is the only one of its kind in Asia. This machine,
coupled with Cavico's engineering expertise has made Cavico the 'go to'
firm for tunnel construction throughout Viet Nam. The company is actively
pursuing opportunities in other Asia Pacific countries as well;

-- July 31 - Signed the US$ 24 million Nam Chien Hydropower contract.
Cavico has been contracted to complete the tunnel works on this project,
which involves the Song Da Corporation, Petrol Vietnam and others;

-- July 26 - Signed a US$ 16.625 million dollar bank loan with the Son La
branch of the Viet Nam Development Bank to begin development of the Chien
Ngan City urban project. This is an important urban works project for
Cavico, which demonstrates their expertise across multiple disciplines;

-- July 24 - Cavico completed the US$ 20 million Ban Ve underground
tunnel project two months ahead of schedule. This was one of Electricity
of Vietnam's (EVN) main projects, in which Cavico was able to deliver ahead
of schedule;

-- July 18 - Secures US$ 54 million contract for its 37 percent owned
VINAVICO member company, on the US$ 211 million SEREPOK 3 hydropower
project;

-- July 11 - Signs US$ 26 million contract to begin tunnel inlet
excavation for the Dong Nai 4 hydropower project. Cavico is the lead
contractor for tunnel works on this project;

-- June 27 - The Hai Van Tunnel project received the United States Global
Technique Awards Association's highest honor. The Association had deemed
the project one of the 24 most outstanding structural accomplishments
existing in the world today;

-- June 14 - Cavico signs US$ 4.3 million economic contract to provide
construction service and supply equipment for the tunnel works, power
waterways, intakes, tunnel access, surge tanks and other works for the
Dasiat hydropower project;

-- June 1 - Cavico begins construction of the US$ 43 million dollar Van
Chan hydropower project. Cavico was the main investor and a major
contractor for this project;

-- May 25 - Cavico begins Song Tranh 2 bridge project. This US$ 1.26
million dollar project is slated for completion in December of 2006.

Timothy Pham added, "With Viet Nam's economy growing at 8-9 percent GDP year over year, we feel comfortable with our projected and forecasted numbers going forward. We continue to be presented with new opportunities within Viet Nam, and we are aggressively pursing opportunities elsewhere in the Asia Pacific region. If things continue on the same track our numbers may prove to be highly conservative."

For more information about Cavico, please refer to the company's website at: http://www.cavicocorp.com.

About Cavico Corporation

Cavico (www.cavicocorp.com), founded in 2000, is a major infrastructure construction, infrastructure investment, and natural resources conglomerate headquartered in Hanoi, Vietnam. The company is highly respected for its core competency in the construction of mission-critical infrastructure including hydroelectric plants, highways, bridges, tunnels, 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 often include top multi-national corporations as well as government organizations. The company currently employs more than 3,000 people.

Vietnam's transition to a market economy has generated rapid economic growth. The country's impending ascension to the World Trade Organization is likely to provide an additional boost to economic growth and a further acceleration in the country's current infrastructure construction boom. The aggressive development of Vietnam's energy, transportation, and urban infrastructure is absolutely essential to the country's ability to compete internationally, and this aggressive build-out is creating huge growth opportunities for infrastructure construction companies such as Cavico.