Timex A&S currently owns 28 gas stations located on major national routes, key intersections and industrial parks of Dong Nai province. In addition, the Company also operates 3 additional gas stations which are owned by Tin Nghia Company Limited. The Company intends to expand its business through the acquisition and construction of additional gas stations on major national routes and industrial parks. The Company has taken the initial steps to build a gas and oil depot in the Nhon Trach district near Ho Chi Minh City (“HCMC”). Currently, this project is in the technical and engineering designs and final stage of land clearance and is estimated to require an estimated investment of US$30 million. The Company is also taking aggressive measures to build gas stations in the best available real estate zones in industrial park in Long Thanh district and plans to build gas stations around Vietnam’s upcoming main international airport.
