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PHR [NON-RATED] - Bonanza expected from land transfer transactions - Visit Note

We visited PHR on June 16, 2017 and were warmly welcomed by the management team. According to management, PHR expects to realize compensation of VND1 billion-VND1.5 billion (USD44,000-USD66,000) per hectare on 700 ha land transferred to Vietnam-Singapore Industrial Park (VSIP) over the next two to three years. The transfer terms are being negotiated this week.