On the morning of March 26, Binh Duong Water and Environment Corporation (Biwase, code BWE - HoSE) held its 2025 annual general meeting of shareholders.

Speaking at the Congress, Mr. Nguyen Van Thien, Chairman of Biwase, said that by the end of 2024, Biwase recorded total revenue of VND 4,387 billion, after-tax profit of VND 568 billion and a water loss rate of only 4.8%.

To achieve the above positive business results, in 2024, the Company has strengthened customer development and product promotion in all areas of water supply, waste and wastewater; focused on promoting and marketing Con Voi Binh Duong fertilizer and brick products to customers, especially in the provinces of the Mekong Delta region.

In addition, Biwase promotes investment activities in Binh Duong province, developing business networks in companies that Biwase participates in contributing capital and investing in such as Gia Tan - Dong Nai; Can Tho, Binh Phuoc, Long An, Quang Binh.

Mr. Nguyen Van Thien, Chairman of Biwase. Photo by Duy Bac

Regarding the plan to apply International Financial Reporting Standards (IFRS), Mr. Thien further emphasized: "The company has gradually completed financial statements according to international standards IFRS".

It is known that the roadmap for implementing IFRS is divided into three phases: Phase 1 (from 2019 to 2021) is the preparation phase. The Ministry of Finance will publish the Vietnamese translation of IFRS, train human resources, and develop guidelines for applying IFRS; Phase 2 (from 2022 to 2025) will have enterprises voluntarily or selected by the Ministry of Finance to apply IFRS when preparing consolidated financial statements or separate financial statements; And Phase 3 (from 2025 onwards) will apply IFRS compulsorily to the consolidated financial statements of all parent companies of state-owned economic groups, all listed companies, and large-scale public companies that are unlisted parent companies.

Participate in investing in a new Water Supply Company in Can Tho and Ho Chi Minh City in 2024

Also in 2024, Biwase had many outstanding activities worth continuing to invest in additional water supply companies.

In January 2024, Biwase inaugurated and put into operation a waste-to-energy incineration plant with a capacity of 5 MW and increased the capacity of waste sorting, recycling and treatment to 2,520 tons/day. In particular, all works in the complex are designed, installed and technology mastered by Biwase engineers and managers.

In July 2024, Biwase completed the procedures to convert 4 affiliated branches into 4 subsidiaries and held a launching ceremony in early September 2024, including: Biwase Binh Phuoc Water Company Limited (BIWASE BP), Biwase Science - Technology - Environment Company Limited (BIWASE ETS); Biwase Production - Trade - Service Company Limited (BIWASE PTS) and Biwase Consulting Company Limited (BIWASE WD).

In September 2024, Biwase and Vietnam Development Bank (VDB) - Transaction Office II signed a cooperation agreement to finance state investment credit capital for clean water and environmental protection projects. According to the agreement, VDB will finance from VND 10,000 billion to no more than VND 16,000 billion with preferential interest rates for environmental protection projects invested by Biwase and its subsidiaries.

In October 2024, in Can Tho City, Saigon - Can Tho Water Joint Stock Company held an extraordinary General Meeting of Shareholders to approve the contents of increasing charter capital, changing the name to Biwase Can Tho Water Joint Stock Company, restarting the project of building Saigon - Can Tho Water Plant with a capacity of 50,000 m3/day. In which, Biwase with 47% ownership ratio appointed 1 representative to hold the position of Vice Chairman of the Board of Directors and General Director - legal representative and 1 representative to join the Board of Directors.

In November 2024, Biwase achieved many great successes when Biwase Long An successfully issued a bond lot worth 700 billion VND with a fixed interest rate of 5.5%/year, the best interest rate in the current bond capital market to invest in increasing the capacity of Nhi Thanh Water Plant from 60,000 m3/day to 120,000 m3/day, marking an important financial milestone demonstrating strong confidence from investors and affirming the Company's solid financial position.

And in particular, Biwase's legal department completed the procedures for transferring shares with a 43% ownership ratio at Tan Hiep Water Investment Joint Stock Company, with the Tan Hiep Water Plant project - Tan Hiep Commune, Hoc Mon District, Ho Chi Minh City, with a capacity of 300,000 m3/day and night. At the same time, Biwase also nominated personnel to participate in the management here (including 3 members of the Board of Directors, 1 member of the Board of Supervisors and 1 General Director as the legal representative).

Continue to upgrade the capacity of existing factories and seek potential investment opportunities in 2025

Entering 2025, Mr. Thien emphasized that the Company will continue to implement its investment and development plans well, ensuring the supply of clean water in the provinces where Biwase participates in investing such as Dong Nai, Binh Phuoc, Can Tho, Long An, Quang Binh, Ho Chi Minh City, ensuring safe water supply, clean and safe environment for investors, ensuring that the level of water loss is maintained or lower than the current level.

In terms of corporate governance, the Company continues to build a corporate governance system according to good practices; Develop and approve a sustainable development framework and strategy (ESG) and implement ESG practices; Train and select qualified staff for appointment and nomination in subsidiaries and affiliates; Continue to maintain corporate culture and Board of Directors culture to create an environment and motivation for sustainable development.

In the field of water supply, Biwase will organize investment to expand and increase the capacity of water plants, ensuring adequate water supply in all situations in both short-term and long-term strategies.

In particular, starting the project to increase the capacity of Nhi Thanh Water Plant by 60,000 m3/day (total capacity of 120,000 m3/day), expected to be officially put into operation in the third quarter of 2025; Expanding the scope of water supply services to Can Giuoc and Can Duoc districts - Long An province.

Shareholders approved the Board of Directors' Report with 100% approval. Photo: Duy Bac

In addition, from 2025 to 2030, the Company is expected to increase the capacity of BIWASE Quang Binh plant to 30,000 m3/day, develop and expand the water supply system to the entire Quang Trach district and neighboring areas; Increase the capacity of phase 3 of Chon Thanh Water Plant from 30,000 to 60,000 m3/day; Build Saigon - Mekong Water Plant, with a capacity of 50,000 m3/day with an investment capital of 100 billion VND, completed and put into use in the second quarter of 2025.

In the field of waste, Biwase will research and invest in expanding the market in strategic locations; Research waste treatment solutions more deeply and modernly; Continue to research and find output solutions for recycled products, especially Con Voi Binh Duong fertilizer, contributing to supporting farmers in producing organic agricultural products according to the Government's policy of clean agricultural products; Invest in a 500-ton/day waste incinerator combined with a 12 MW power generation; and continue to complete and submit for approval the waste price plan.

In the wastewater sector, Biwase will continue to deploy and strengthen customer connection for wastewater; Continue to complete and submit for approval the unit price plan for domestic wastewater drainage services; Strengthen asset management and maintenance for effective operation, contributing to protecting the water environment.

"In 2025, we will switch to domestic currency loans instead of high-cost foreign currency loans, debt restructuring will help lower costs. In addition, 2025 will have many highlights, hopefully with stable growth. In particular, the water supply industry needs to have its own requirements, diligent service and the trend of Binh Duong is a bright spot when the province is still a bright spot attracting foreign investment, this is also an opportunity for the Company, at the same time, people in the West tend to come to Binh Duong to seek development opportunities, thereby helping to increase water consumption, so there will be many growth opportunities in Binh Duong province", Mr. Thien further emphasized the potential of water supply in the Binh Duong market.

Regarding project implementation, continue to monitor and organize the implementation of legal documents for the Long Thanh Water Highway project in Dong Nai province; Invest capital to serve the development needs of Biwase companies investing in Dong Nai, Can Tho, Long An, Quang Binh...; Implement water supply projects for Becamex - VSIP Industrial Parks.

Regarding merger and acquisition (M&A) opportunities, Mr. Thien further emphasized: "If there are good opportunities in the water and waste supply sectors in places with potential efficiency, within the scope of the Company's available capital, the Company will continue to invest in core industries."

Investment Electronic Newspaper - Baodautu.vn continues to update information on Biwase's 2025 Annual General Meeting of Shareholders.

Source: https://baodautu.vn/dhdcd-biwase-tiep-tuc-tim-kiem-co-hoi-tiem-nang-trong-linh-vuc-cap-nuoc-va-rac-thai-d259113.html