Business, banking and stock market briefs November 23

* Saigon Palm Co Ltd has shipped two containers of furniture made from water hyacinths worth about $14,000 to Australia and New Zealand, Tuoi Tre quoted company deputy director Le Phuc Thinh. The company is exporting six to seven containers of such products worth about $60,000 on a monthly schedule to its traditional market of the EU and newly-tapped markets of Australia, New Zealand, Hong Kong and Brazil. Saigon Palm earned about $400,000 from exports in the first ten months of this year, up 100 percent year-on-year.

* Telecommunications Industry Electronics Joint Stock Co (TIE Electronics) has improved the quality of its products to grade A with new production lines. The HCM City- based manufacturer and distributor of electronics spare parts, telecom products and outsourcing services in the first ten months of this year realised 90 percent of its annual revenue target.

* SME Securities Co. obtained 15 trillion dong in profit after-tax in the first 10 months of this year. The enterprise is trading 150 million SME shares on the UPCoM exchange and will list on the northern bourse next year.

* VinaPhone, under the Vietnam Post and Telecommunications Group (VNPT), is the first domestic mobile service operator to become a member of Conexus Mobile Alliance, according to Conexus, Lao Dong reports. The event marks an important advancement for VinaPhone in the world’s telecom market, showing VinaPhone’s diversified development strategy. Conexus Mobile Alliance, one of Asia’s largest mobile alliances, was established in April, 2006 to develop and enhance international roaming and corporate mobile services for greater convenience and ease of use.

* National flag carrier Vietnam Airlines has launched a knowledge contest marking the coming 1,000th anniversary of Thang Long-Hanoi for Australian customers via the online portal www.hanoi-1000years.com.au. The winners will be awarded 500 pairs of return air tickets for domestic flights.

* PetroVietnam Gas Corp, under the Vietnam National Oil and Gas Group (PetroVietnam), and a consortium acting as the EPC contractor led by PetroVietnam Construction Corp will jointly begin work on the Liquefied Petroleum Gas (LPG) warehouse project covering 5.3 hectares in the Thi Vai Gas-Port Complex of Cai Mep Industrial Zone in Ba Ria-VungTau Province’s Tan Thanh District today. The project worth over 2.5 trillion dong with capacity of 60,000 tonnes of LPG is scheduled for completion within 34 months.

* Vietnam National Petroleum Corp (Petrolimex) has just launched its new member Petrolimex Singapore Pte Co Ltd in the island state. This subsidiary would be responsible for developing oil and gas, market research and seeking partners to ensure supply for Petrolimex.

* Hanoi-based Gia Tue Investment Joint Stock Co. has opened a representative office in the Tuoi Tre Yoko Building on Nguyen Thi Minh Khai Street in HCM City’s District 1. Gia Tue, owner of over 500 hectares of land in big cities nationwide, is planning to build resorts and five-star hotels. The company and partners State Capital Investment Corp and Tan Thuan Industrial Promotion Co have been approved by the city government to be the investors for the expansion project of HCM City North-South Axis Road and Hiep Phuoc Port-Urban Complex.

* Licogi 16 Co (LCG) has been licensed to establish Phu Hoi Urban Area Co. Ltd with chartered capital 985 billion dong. The affiliate will develop the Phu Hoi urban area project in Dong Nai Province.
* Long Giang Investment and Urban Development Co (LGL) has decided to triple chartered capital from 20 billion dong to 60 billion dong. The enterprise has plans to issue six million shares next month including four million for shareholders.

* Tine Giang provincial People’s Committee last week approved Bidv Expressway Development JSC (BEDC) to kick off construction on Trung Luong-My Thuan on November 29 with the first item Than Cuu Nghia traffic point in Tien Giang’s Chau Thanh Dist.

* Honkana Vina Co Ltd, under Japan-based Honkana Group officially held the opening ceremony of Hokana Vina animal feed processing plant with designed capacity of 7,000 tonnes of products per year on November 20. The plant is located in Vi Thanh Town industrial complex, Hau Giang province.

* Ba Ria-Vung Tau based Hoan Vu Joint Stock Co and Kim To Co officially began the construction works on Hoan Vu-Vung Tau Ocean View Complex on November 22 with the total investment capital of 114 billion dong.

* At the 39-year establishment anniversary held on November 20, Vissan food processor announced it targeted to reach 3.1 trillion dong in 2009 revenue, higher four times than 2000.

* Work on Binh Phuoc cement plant with total investment capital of over eight trillion dong and a designed capacity of two million tonnes a year has been basically completed.

* Nam Trieu Shipbuilding Industry Corp under Vinashin last Friday launched the 56,200 tonne cargo ship in Tan Hung commune, Thuy Nguyen Dist, Hai Phong City.

* PetroVietnam Low Pressure Gas Distribution Co has got approval to trade 33 million shares on the Ho himinh Stock Exchange under the code of PGD.

* Na Hi Harnico Mineral Co has sought approval to trade 11.8 million common shares on the southern bourse.

* Song Da Urban & Industrial Investment and Development Co (SJS) has been licensed to offer 60 million shares for existing shareholders including 40 million bonus shares.

* Tien Len Group has acquired 1.6 million shares of Phuc Tien Trade Manufacture Co (PHT) to increase its ownership from 6.3 percent to 21.3 percent.

* Asiavantage Global Limited has offloaded 256,800 shares of Saigon Garment Manufacturing Trade Co (GMC) to reduce its ownership from 6.2 percent to 3.3 percent.

* Tan Binh Import Export Corp (TIX) has announced to trade 12 million shares on the southern bourse since November 25 at the reference price of 65,000 dong each.

* Saigon Cable Co. has registered to offload all its 178,000 shares of the Cables and Telecommunications Material Co (SAM) between November 23 and December 31.

* VOF Investment Limited has sold 300,000 shares of Investment and Trading of Real Estate Co (ITC) to reduce its ownership from 9.2 percent to 7.9 percent.

* Ba Ria Thermal Power Co (BTP) has obtained approval to trade 60 million shares on the Hochiminh Stock Exchange.

* Thien Nam Trading Import Export Corp. (TNA) has been approved to trade 4.7 million additional shares on the southern bourse.

* Vietnam Petroleum Construction Corp (PVX) announced that PetroVietnam registered to transfer 36,749,900 PVX coded shares on the stock market (not via the trading system of HNX).

* Song Da Trading and Transport JSC (HNX coded SDP) will issue three million shares to increase its chartered capital from 50 billion dong to 80 billion dong, the chair Dinh Manh Thang announced.

* Petrolimex Insurance JSC (Pjico) passed the plan on offering extra 16,490,099 shares at 10,000 dong/share to increase its charter capital to 500 billion dong.

* Hochiminh Stock Exchange (STC) last Friday approved in principle Eastern Asia Plastic Group Joint Stock Co (DAG) to list 10 million shares on the bourse.

* Da Nang Airport Service Joint Stock Co (UPCoM coded MAS) announced that on December 4 it would close the shareholder list for advancing the first round dividend of 12 percent in cash. The ex-interest date is December 2 and the payment date is December 25, 2009.

* Hoang Lien Son Technical Ceramic Joint Stock Co (Hoceratec) lately announced its plan to list shares on the Hanoi Stock Exchange (HNX) in 2010.

* Microsoft Vietnam Co Ltd and Sacombank Securities one-member Co Ltd has recently signed the cooperation contract for developing the core information technology (IT) infrastructure between the two parties.

* Saigon Commercial Bank kicked off a promotion programme today to give cash and gold gifts for individual and corporate customers with deposit balances from one billion dong and five billion dong respectively.

* Maritime Bank had mobilised over 46 trillion dong as of the end of October, a 113 percent year-on -year increase. The bank has reached nearly 780 billion dong in pre-tax profit and 50 trillion dong in total assets.

* Southeast Asia Bank will inaugurate its new head office in Hanoi next month. The bank has the chartered capital of over four trillion dong.

* Habubank has been licensed by the State Securities Commission to offer 10 million shares, including 6.5 million bonus shares and 13.5 million for existing shareholders, according to Thoi bao Kinh te Vietnam.

* Vietnam Thuong Tin Commercial Joint Stock Bank (VietBank) announced launching its new product of “Tiet kiem lai suat cong – Plus” (savings with plus deposit rates).

* From December 1, 2009 to January 30, 2010, Bac A Commercial Joint Stock Bank (Bac A Bank) planned to issue bills of exchange in dong and US dollar with the expected total value of about 1 trillion dong and $10 million.

 

Category: Stocks