Business, banking and stock market report Apr 20

* In the first quarter of 2009, Vietnam Coal and Minerals Group (Vinacomin) earned 11.372 trillion dong in total revenue, and 247 billion dong in pre-tax profit (including 160 billion dong from coal production). Particularly, the group’s revenue from coal sales accounted for 7.165 trillion dong, mineral sales 222 billion dong, and electricity production 240 billion dong.

* The director board of Indochina Capital Holdings (ICV) recently signed an agreement with Dragon Capital Management, a branch of Dragon Capital Group to set up a new company in charge of managing investment for Indochina Capital Vietnam.

* Anh Duong Vietnam Joint Stock Co or Vinasun Corp last Saturday held the shareholders’ meeting in HCM City’s Dist 1 to report that in 2008, it achieved 828.16 billion dong in revenue, jumping 69.9% against 2007.

* HCM City-based Trai Thien Sea Transport Investment and Development Joint Stock Co obtained the license of Ba Ria Vung Tau provincial governance to build a deep water international transhipment port in Con Dao island. Total cost for the project is estimated at US$300 million.

* Vietnam National Oil and Gas Group, PetroVietnam on April 16 signed a partnership agreement with Perupetro to carry out the petroleum exploration and drilling projects in Block 162 offshore Peru.

* Binh Chanh Construction Investment JSC (BCCI) plans to reach 569.580 billion dong in revenue, after-tax profit of nearly 200 billion dong, dividend of 17%, EPS of 3,677 dong and total investment value of 1.194 trillion dong this year. Last year it posted 484.851 billion dong in total revenue, 125.530 billion dong in after-tax profit and a cash dividend of 15%.

* Ending the first quarter of 2009, Hoa Phat Group reached 1.612 trillion dong in revenue and 300 billion dong in after-tax profit that fulfilled nearly 52% of the year’s profit target of 585 billion dong.

* Saigon Fuel Joint Stock Co (SFC) will raise the chartered capital from 34 billion dong to 81.09 billion dong in the year end. Also, it plans 1.006 trillion dong in revenue, 27.60 billion dong in pre-tax profit, 22.125 billion dong in after-tax profit and a dividend of 15%.

* April 29 is the ex-interest date for Thu Duc Housing Development JSC (coded TDH) to pay a cash dividend of 15% for the second phase of 2008. The registration deadline is May 5. The payment date is May 22, 2009.

* April 28 is the ex-interest date for Chuong Duong Brewery JSC (coded SCD) to pay a cash dividend of 3% for the third phase of 2008. The registration deadline is May 4. The payment date is June 4, 2009.

* Bao Viet Securities Co (BVSC) on April 18 reported that last year it maintained 50% of capital structure for securities investment and another 50% for bond and cash investment to avoid risks. Till December 31, 2008, the broker posted total ownership capital of 1.067 trillion dong and surplus capital of 882 billion dong.

* Cholimex Foods Joint Stock Co on April 17 announced that Private Equity New Markets (PENM) investment fund became its strategic shareholder with a holding of 16.6% in Cholimex Foods whose chartered capital has been doubled from 30 billion dong to 60 billion dong.

* Becamex will double its chartered capital from the current 548.4 billion dong to nearly 1.097 trillion dong through issuing extra 54,838,905 shares to the existing shareholders at the ratio 1:1 with a price of 10,000 dong each. The capital raised from the share issue will be invested in the project of My Phuoc-Tan Van highway phase 1 (2009-2010) with total cost of 548.389 billion dong and used to upgrade the firm’s financial strength. In 2009, the company plans to reach 230 billion dong in revenue against 2008′s 223 billion dong, 85 billion dong in after-tax profit (2008′s 96.5 billion dong), and a dividend of 13-15%.

* From April 21, Viet A Commercial Joint Stock Bank will officially launch the unsecured consumer lending with the maximum limit of 200 million dong with the lending rate of 0.75-0.82% a month calculated based on the initial debt balance.

* The shareholders’ meeting of Asia Commercial Joint Stock Bank (ACB) on April 18 approved the 2009 business targets with total asset of 170 trillion dong, total deposits of 130 trillion dong, total outstanding loans of 65 trillion dong, and profit of 2.7 trillion dong.

* Vietnam Eximbank last Friday announced it targeted to gain about 63.3 trillion dong, chartered capital of 8.8 trillion dong, total deposit of 45.3 trillion dong, total outstanding loan of 34 trillion dong and pre-tax profit of 1.5 trillion dong in 2009.

* State Bank of Vietnam (SBV) recently approved Hanoi Building Commercial Joint Stock Bank (Habubank) to launch the derivative investment product enclosed with national credit risk management (supplied by HSBC and Standard Charted) as for Vietnam’s US dollar government bonds.

 

Category: Business