Business, banking and stock market report Apr 21
* Van Y Joint-stock Co. has broken ground for a US$12.6 million factory to produce fish fillet and canned products on six hectares in Binh Thanh Industrial Park in Dong Thap Province. With this new facility, the company targets a revenue increase of 105% this year as compared to more than 478 billion dong (US$26.8 million) last year.
* Dinh Quoe Corp is offering free stainless accessories for bathroom and vouchers of 10% discount to the consumers who buy its glass bathing cabins worth over five million dong (around US$280) until April 30.
* The Vietnam National Oil and Gas Group (PetroVietnam) has signed a deal with its Peruvian partner, PeruPetro, to explore and expfoit oil and gas in the South American country. Petro Vietnam was among 18 enterprises from Asia, Europe, America and Australia which signed investment contracts worth US$650 million with PeruPetro.
* The joint venture of Hoa Binh Automobile Mechanical Joint Stock Co and the Vietnam Motor Corp has introduced the Chery QQ3, a small car popular in China, following a deal inked between the Chinese Chery Automobile Co and the joint venture. Chery QQ3s, offered at US$9,900 each, will be assembled and distributed by the joint venture.
* Kien Giang Trade and Tourism Co. has been given the green light by the Vietnam Food Association (VFA) to export 53,500 tonnes of rice this month to East Timor and Africa following the Prime Minister’s order to the association. The export volume was disapproved by VFA after the Association on February 20 announced a February 21 deadline for first half rice exports.
* CMC – Japan Packaging Co. Ltd has inaugurated its second plant worth US$3. 7 million with monthly capacity of 1.2 million paper wrappers covering 4,000 square meters in HCM City’s Tan Thuan Export Processing Zone.
* National carrier Vietnam Airlines reported that last year it earned 165 million euro in total revenue from Europe market, a year on year growth of 20% while the regional figure was only 12%.
* Phu Nhuan Jewellery Joint Stock Co (STC coded PNJ) reported gaining 4.581 trillion dong in total revenue in Jan-March, fulfilling 109% of the year’s plan and growing by 343% year on year. Also the company attained 90.54 billion dong in pre-tax profit, rising by 58.85% y-o-y.
* Hanoi based Cavico Traffic Joint Stock Co (Cavico TC) with a chartered capital of 40 billion dong yesterday sent the application asking HASTC’s approval to list four million shares on the floor.
* Ho Chi Minh Stock Exchange (STC) yesterday approved HCM City Securities Joint Stock Co to list 39,463,400 HCM coded shares on the southern bourse.
* In the first session on Hanoi Securities Trading Centre (HASTC) yesterday, SHB coded share of Saigon Hanoi Commercial Joint Stock Bank led the market in terms of trading volume with 2,079,300 shares for 30 billion dong changing hands successfully. The lowest trading price of the bank share was 13,600 dong each, highest at 15,300 dong/share and average at 14,400 dong/share.
* An Binh Commercial Joint Stock Bank (ABBank) has launched the consumer lending programme aming to upgrade the competitiveness for the product whereby the customers borrowing loans for house purchase could enjoy a lending limit of 90% of their capital demand instead of the previous 70%.
Category: Stocks
