Business, banking and stock market briefs Sep 23

* Denmark-based Carlsberg Brewery plans to withdraw from Kronenbourg Vietnam Joint Venture after receiving capital contribution from Scottish & Newcastle Group, the foreign partner in this joint venture with Vietnam National Tobacco Corp (Vinataba) in the business affair of purchasing this group previously.

* On September 27, Ha Nam Mineral Joint Stock Corp (KSH) in conjunction with Song Trang Mineral Co and Hung Dung Co Ltd will start work on Na Lang gold mining in Luong Thuong commune, Na Ri Dist and Ho Ba Be Resort tourism site in Buoc Lom, Khang Ninh commune of Ba Be Dist, Bac Can province, Hochiminh Stock Exchange (STC) yesterday announced.

* Aviation Hotel Joint Stock Co. is renovating a five-floor building on a prime land plot in HCM City’s District 1 into an office building at the cost of 26 billion dong, Thoi Tre quoted company general director Pham Thuc Hoa. The building, scheduled for completion in February, will provide 4,000 square meters of office space.

* Korean-owned Sungil-Tech Vietnam Co Ltd, producing plastic spare parts for automobiles and motorbikes, has begun operations. The company has joined forces with spare parts producers and consumers including Vietnam Automobile Parts Production Co and Suzuki Vietnam Co to expand business.

* Nha Be Garment Corp has cut the daily shift by one hour following the technological upgrade of its production lines and the improvement to fits production management. The company plans to cut shifts by 1.5 hours next year. Monthly worker salary has been raised by 15 percent year on-year to 2.8-3 million dong. Nha Be is exporting 70 percent of its products to Japan, the US and EU, and 30 percent is consumed domestically.

* HCM City Power Co and EVN Telecom Co under the Electricity of Vietnam Group (EVN) have jointly concluded a two-day event at the HCM City Youth Cultural House to introduce new services and products including CDMA-based landline, mobile internet access and the 3G implementation progress to customers.

* Dakpsi Hydropower Development and Investment Joint Stock Co. has inaugurated the 2.8- kilometre water tunnel to Dakpsi 4 Hydroelectric Plant to become the first private construction company in Vietnam to finish such a project. The hydropower plant, with capacity of 30MW, is expected to operate its first generator by June and be completed by the third quarter next year.

* Thien Nam Trading and Import Export Co (TNA) in the first eight months of the year obtained 325 billion dong in revenue and 12.4 billion dong in pre-tax profit.

* Hoa Phat Group (HPG) in the first eight months of the year obtained 5.1 trillion dong in revenue and 940 billion dong in after-tax profit, attaining 72 percent of the year’s plan in revenue and beating the profit plan by 2 percent.

* Piaggio, the world’s fourth largest scooter and motorcycle manufacturer has recently introduced to the markets its three new scooter models of Vespa LX 150, Vespa GTS 125 Super i.e and Liberty RST.

* In the late two days of Sep 22 and 23, State Bank of Vietnam (SBV) co-ordinated with World Bank (WB) to hold a seminar in Hanoi to launch the project of “information management system and banking modernisation”. This project was approved by State Bank of Vietnam, on behalf of the country’s government and International Development Association (IDA) on April 21, 2009 and announced to officially start taking effects on July 20 by World Bank.

* PetroVietnam Construction Joint Stock Corp (HNX listed PVC) will carry out the project on 10-hectare depot in Nghi Son oil refinery, said the vice head of PVC’s Finance and Accounting Division, Pham Tien Dat announced.

* Ho Chi Minh Stock Exchange (STC) announced on Sep 22 about the latest information relating to the project of Thu Thiem Software Park of Saigon Telecommunication & Technologies Joint Stock Corp (Saigontel – coded SGT).

* Licogi 16 Joint Stock Co (coded LCG) announced that the shareholders meeting passed the plan on issuing 4.6 million more shares to raise its chartered capital from 204 billion dong to 250 billion dong. Accordingly, 4.37 million shares will be offered separately to big investors with a price of no less than 50,000 dong per share and another 230,000 shares to the employees.

* HCM City Fund for Urban Development (HIFU) will call bidders for 500 billion dong worth of five-year bonds at the Hanoi Stock Exchange on September 28. Meanwhile, Vietnam Development Bank will call bidders for 500 billion dong worth of two-year bonds and 500 billion dong worth of three-year bonds at the Hanoi exchange on September 25.

* No institution joined a bond auction of Vietnam Bank for Social Policies at the Hanoi Stock Exchange yesterday. The bank offered three trillion dong worth of two-year bonds at the ceiling interest rate of 9.3 percent per year.

* The board of directors of Vincom JSC (VIC) have decided to contribute 255 billion dong, or a 51 percent stake, to establish the 500 billion dong Sai Dong Urban Investment and Development Joint Stock Co.

* VietFund Management and its funds between July 19 and September 15 made transactions on Lam Son Sugar Joint Stock Co (LSS) to increase their ownership from 0.09 percent to 5.33 percent.

* Saigon Securities Inc (SSI) has sold 133,900 shares of Dong Hai Ben Tre Corp (DHC) to reduce its ownership from 7.49 percent to 5.82 percent.

* Ba Ria-Vung Tau Housing Development Co. (HDC) has finished selling out 201,100 shares from its-treasury stock.

* Vietnam Dragon Fund Limited, sitting on the board of directors of HCM City Infrastructure Investment Co (CII), sold out its 349,000 CII shares on September 15.

* Saigon Securities Inc (S5I) has sold 500,000 shares of PV Drilling Co (PVD) to decrease its holdings to 500,100 shares.

* Dang Thanh Tam, chair of management board, Kinh Bac Urban Development Joint Stock Co (coded KBC) said up to the end of 2009, the company would surpass the company’s business targets. The company plans to list its shares on the southern bourse within this year. With more than 199 million shares listed on Hanoi Stock Exchange (HNX) for a total listing volume of 8.6 trillion dong, KBC is the second largest cap share on the northern bourse, after ACB.

* Viet A Commercial Joint Stock Bank (VietABank) officially opened its 53rd transaction office of Thu Thiem transaction office in Dist 2, HCM City on Sep 22. Similar to other VietABank’s branches and transaction offices nation-wide, Thu Thiem Transaction Office offers the customers the whole range of banking products and services such as savings, deposits, loans, telex transfer, foreign exchange, issuing Advance cards, gold trade and international payment services.

* Bank for Investment and Development of Vietnam will launch a promotion programme system-wide from today to December 18, offering the total prize value of five billion dong for depositors.

 

Category: Stocks