Business, banking and stock market report Apr 15

15-Apr-2009 Intellasia | | 8:00 PM Print This Post

* Tan Tien Plastic Packaging Joint Stock Co will raise last year’s dividend by 5% to 30%, or 3,000 dong per share, the company announced at its annual meeting last week. The packaging manufacturer has already paid 15%. Tan Tien’s share price surged 4.73% to an eight-month high of 28,800 dong Monday.

* The Chu Lai Truong Hai Auto Assembly & Manufacture Plant Monday unveiled two new models, Cerato and Soul. The company, based in the Chu Lai Open Economic Zone in Quang Nam Province, said the new models are targeted at young buyers and their prices are likely to be in the US$27,000-29,000 range.

* Sugarcane Joint Stock Co No 333 has nearly doubled the daily capacity of its processing plant to 900 tonnes of sugarcane. The company plans to produce 13,000 tonnes of sugar in the 2008-09 crop.

* Korean Air has teamed up with Samtour Travel Agency to run tours to Korea with a 25% discount for tourists departing from Hanoi. The Korean airline will also reduce airfares for Vietnamese passengers flying from Hanoi to Europe and North America from now until June.

* Lien Phat Footwear Co Ltd has signed a contract worth over US$l million with its foreign partners to process 600,000 pairs of women’s shoes for export to Germany and the UK from now to July at a subcontracting fee US$1.8 per pair. The company is searching for new contracts.

* Hanoi -based Cavico Transport Construction Joint Stock Co has been approved by Da Lat City to carry out a US$57 million wind power project including 20 wind-powered turbines with a combined capacity of 30 MW in Xuan Truong District. The project is scheduled to start construction in 2010 and to be operational by June 2011.

* Nang Mai Co Ltd, the physically impaired labourer company, has broken ground for a handicraft village project worth over three billion dong including five showrooms and a restaurant covering 5 hectares in Da Lat City. The village, aiming to serve tourists and offer jobs to the physically impaired, opens in September.

* After having sold 97,940 HBC coded shares, PetroVietnam Finance Corp (PVFC) continued registering to sell extra 630,460 HBC coded shares of Hoa Binh Real Estate Construction and Trading Joint Stock Co between April 16, 2009 and April 15, 2010.

* Kinh Bac Joint Stock Co (coded KBC) on April 13 announced that its shareholders’ meeting passed the plan of issuing bonus shares and paying a 2008 dividend of 20% in shares to the existing shareholders. Under it, 65,041,330 shares will be offered to the shareholders according to a ratio of one new share for two old shares.

* Bien Viet Securities Co (CBV) has released two sets of stock indexes namely CBV Vietnam Stock/bond composite Index and CBV Vietnam Asset Allocation Indexes. CBV Vietnam Stock/bond composite Index is a combined index of share and bond markets.
* Hoang Anh Gia Lai Joint Stock Co (HAGL) yesterday passed the plan of paying a 2008 dividend of 15% in cash. The remaining profit of 2008 will be deducted for investment restructure (51.5%), welfare fund (2%) and reward fund (3%).

* Dai Nam Joint Stock Co, investor of Dai Nam Van Hien tourism site project in Binh Duong province announced that they would continue pouring extra one trillion dong for the second phase of the project in 2009 and next year.

* During the first quarter of 2009, An Giang Export Import Joint Stock Co (coded AGF) earned US$7.66 million from exports and 5.6 billion dong in after-tax profit, jumping 145% year-on-year. As planned, in 2009, the company will export 33,000 tonnes of products worth US$72 million and reach 52 billion dong in pre-tax profit.

* State Bank of Vietnam’s governor on April 13 approved Vietnam Industrial and Commercial Joint Stock Banl (Vietinbank) to issue 10 trillion dong and US$400 million of long-term valuable papers in 2009. Interest rate of long-term valuable papers in dong of Vietinbank is suitable with SBV’s Decision No 16/2008/QD-NHNN dated May 16, 2008 regulating the management mechanism of dong basic rate.

* From April 14 to July 7, Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) will apply the preferential programme of discounting 50% of export payment fee as for export companies. Accordingly, the export payment fee will be only US$2 each transaction if customers commit to sell 100% of US dollar earned from export contracts to Sacombank.


Category: Stocks

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