Apparel manufacturer Saigon Garment Manufacturing and Commerce Joint Stock Company (GMC) fetched a turnover of VND131.6bn (US$8.23m) for the first half of the year, representing a 49.8% rise year-on-year.

The turnover accounted for 52.6% of its target of whole year 2007.

The GMC has also inked a cooperation contract with Thai Yuan Company from Taiwan to carry out a project on construction of a 20 storey, 17,000 square metre building.

For the remainder of the year, the company plans to post revenues of VND122.4bn (US$7.7m) as well as issuing an addition volume of 1.5m shares to public.

The company has merged its five apparel workshops to establish two apparel and fashion companies in a bid to improve management and product quality to satisfy increasing demand from foreign clients.

By Ngo Tuan.