Business, banking and stock market briefs July 21

* The southern region branch of Vietnam Steel Corp. has revised up its steel wholesale prices by 300,000 dong and 400,000 dong to about 11.4 million dong and 11 million dong per tonne of steel billet and coil respectively.

* Representatives of Thai Trung Rolled Steel Joint Stock Co. and their Italian partner Danieli met in Hanoi to sign the EPC (Engineering – Procurement – Construction) contract for a rolled steel mill with annual capacity of 500,000 tonnes. Once operational by the last quarter of next year, the project worth 1.3 trillion dong and covering 5.3 hectares in Thai Nguyen City’s Cam Gia District will have an initial production volume of about 100,000 tonnes of steel products in its first year and reach 100 percent capacity by 2012.

* Hyundai-Vinashin Shipyard Co. (HVS) has launched a 56,000 dwt cargo vessel, the second of 10 to be built under a contract with Germany’s E.R.Shiffahrt, which is expected to be handed over to its owner on October 30. The ship, 187.8 meters long, 32.2 meters wide and 18.3 meters high, can reach 14.5 nautical miles per hour. It was built in seven months, one month less than the previous vessel.

* Ba Ria-Vung Tau Housing Development Co (HDC) has earned 26.4 billion dong in profit after-tax in the first six months of the year, up 32.5 percent from the same period last year and representing 67.5 percent of the year’s plan.

* Saigon Securities Joint Stock Co (coded SSI) has announced in its balance sheet that up to June 30, the company’s ownership equity was at 4.245 trillion dong, increasing by 348 billion dong in comparison with that released on December 31, 2008, in which the stake capital surplus was posted at 1.996 trillion dong.

* Vinh Son Song Hinh Hydropower Joint Stock Co (coded VSH) has estimated to gain 236 billion dong in profit after tax in Jan-June, in which the company’s Q2 profit was 115 billion dong. The company attributed rise in profit in H1 of 2009 to favourable weather conditions, which helped the total electricity production volume to touch about 519.3 million KWh in the first six months of this year.

* The Global Telecommunication Joint Stock Co (Gtel Mobile) – a joint venture between Vietnam’s Global Telecommunication Corp (Gtel Corp) and VimpelCom Group, a Russian group, officially introduced its new products of Beeline, the country’s 7th mobile network, in Hanoi yesterday.

* SMC Commercial Joint Stock Co (coded SMC) has announced that it earned accumulative profit of 27.678 billion dong in Jan-June, down 32.5 percent against the same period of last year.

* Saigon Cable Joint Stock Co (coded CSG) has announced that it reached total revenue of 75.66 billion dong in April-June and pre-tax profit of 12.66 billion dong during the same period.

* Vinaconex Advanced Compound Stone Joint Stock Co (coded VCS) has announced that its H1 pre-tax profit touched 46.7 billion dong.

* KITMC Worldwide Vietnam Rsp Balanced Fund has bought 136,000 shares of HCM City Infrastructure Investment Co (Cll) to increase its ownership from 4.8 percent to 5.14 percent;

* Saigon Cables Co (CSG) has bought 100,000 shares of Cables and Telecommunication Materials Co (SAM) to up its holdings to 399,000 shares.

* Hoang Anh Gia Lai Group (HAG) has announced July 24 as the date to shortlist shareholders to seek their approval for issuance of bonus shares at the 2:1 ratio. The company will also issue one million shares to the staff.

* Lu Gia Mechanical Electric Co (LGC) will trade 753,000 additional shares on the Ho Chi Minh Stock Exchange on July 23.

* Kim Long Securities Co (KLS) will trade six million additional shares on Hanoi Stock Exchange on July 24. The company has increased its paid-in capital by 10 percent to 660 billion dong.
* Song Da 9.09 Co (S99) will trade over 1.43 million additional shares on Hanoi Stock Exchange on July 23.

* Vietnam Development Bank last Friday failed to raise funds via a Government bond issue. The bank planned to sell 500 billion dong worth of two-year debt and 500 billion dong worth often-year debt. The lowest coupon bid was 9.7 percent for the two-year bond and 9.5 percent for the ten-year bond. However, the issuer’s respective offered rates were 8.7 percent and 9.2 percent.

* The State Bank of Vietnam said the amount of outstanding subsidised loans had reached 377.7 trillion dong by July 16, with 266.1 trillion dong coming from State-owned lenders, 88.9 trillion dong from joint-stock banks, and 18.7 trillion dong from foreign-owned banks.

* Ocean Commercial Joint Stock Bank (OceanBank) has announced that its Internet Banking services would officially be introduced to public on July 24.

* The State Bank of Vietnam (SBV) has issued the document No 5440/NHNN-CSTT in which SBV’s governor approved Tien Phong Commercial Joint Stock Bank (TienPhongBank)’s application for launching new banking products of market-related deposits.

 

Category: Stocks