Business, banking and stock market report Apr 7

07-Apr-2009 Intellasia | | 8:57 PM Print This Post

* Vietnam Investment Ltd continued selling 70,000 DTT coded shares of Do Thanh Technique Joint Stock Co between March 25 and 26, reducing its size in DTT from 5.83% (303,307 shares) down to 4.48% or 233,307 shares.

* Toshiba Corp yesterday April 6 reported setting up a new limited joint venture with Nguyen Vu Ltd Co to carry out the Clean Development Mechanism (CDM) projects in Vietnam. Accordingly, Toshiba (Vietnam) Clean Development Service Ltd Co headquartered in Tay Ninh province includes 51% capital contribution of Toshiba Corp.

* US air firm Northwest Airlines obtained Civil Aviation Authority of Vietnam (CAAV)’s permission to open the direct flight between HCM City and San Francisco, Los Angeles by using Boeing 757 plans and transiting at Tokyo.

* The investors’ meeting of Bao Viet Securities Investment Fund (BVF1) announced its performance in 2008 with a profit of 7% thanks to the fund restructured investment portfolio and cash flow by increasing the bond investment ratio from 40% to 67%.

* Hyundai Vietnam (HMV) has announced the new car price benchmark based on direct impacts of special consumption tax taking effects from April 4. But the new car prices will be applied from May 1 as a measure of supporting customers.

* Hanoi Civil Construction Investment Joint Stock Co (HANCIC) reported that last year it gained 224.062 billion dong in net revenue from sales and service provision, up 13.46% y-o-y, 12.705 billion dong in pre-tax profit, 9.149 billion dong in after-tax profit and EPS of 3,050 dong.

* Hanoi-Thai Binh Beer Joint Stock Co has released the 2008 business results with total beer sales of 24.5 million litres, total revenue of 171.55 billion dong, 9.49 billion dong in after-tax profit and a dividend of 15% in cash.

* Bidv Securities Co announced 2008 business results with total revenue of 478.92 billion dong, after-tax profit of 544.08 billion dong, total asset of nearly 5.092 trillion dong, equity of 274.2 billion dong, Phu Hung Securities Co with 19.5 billion dong, a loss of 38.13 billion dong in after-tax profit, 99.19 billion dong in total asset and ownership capital of 61.9 billion dong, Dong Duong Securities Co with 1.8 billion dong, a loss of 13.4 billion dong in after-tax profit, 108.86 billion dong, 108.2 billion dong, Click&Phone Securities Co with 26.4 billion dong in revenue from securities business, 7.1 billion dong after-tax profit, and equity of 140.8 billion dong.

* Ministry of Industry and Trade licensed Petrolimex Jet Fuel Joint Stock Co (PJF) to import and re-export the jet fuel to Cambodia, regarded as a preparation step for PJF to soon join the jet fuel provision to the domestic market. The event will end the monopoly of Vinapco in the fuel provision to the air firms in Vietnam.

* Saigon Hanoi Commercial Joint Stock Bank (SHB) announced to launch the “Super-attractive saving 3+” programme for individual customers from April 2 to June 2, 2009 on the whole network. The programme is applied on terms of 3, 6,9 and 12 months with the minimum deposit of five million dong or US$500.

* A US$200 million loan for Dung Quat Oil Refinery project was signed between Vietnam Industrial and Commercial Joint Stock Bank (Vietinbank) and Vietnam National Oil and Gas Group (PetroVietnam) on April 3.

* An Binh Commercial Joint Stock Bank or ABBank last month earned 35 billion dong in after-tax profit, a month on month growth of 36%, bringing the total figure in Jan-March to over 87.7 billion dong, fulfilling 22% of the year’s plan.

* Bank for Investment and Development of Vietnam (Bidv) is issuing the long-term Certificate of Deposit (C/Ds) in both dong and US dollar for first phase of 2009 with terms of 1, 2, 3 and 5 years. The programme is for all Vietnamese and foreign institutions and individuals. As joining the programme, customers will be allowed to buy C/Ds with the unlimited sum of money according to the investment demand, attractive interest rate which will be adjusted annually to the level higher 12-month saving rates. Thus, longer deposit means higher interest rate.

* Vietnam Technological and Commercial Joint Stock Bank (Techcombank), Bao Viet Life Insurance Co and Bao Viet Insurance Corp officially signed an agreement on distributing high-class insurance package named Priority to the bank’s customers.

* Eximbank has launched three new deposit products including “Active deposit with flexible interest rate”, Eximbank chip card and a prised based deposit promotion programme all over the system.

* In Hanoi, Petrolimex Commercial JS Bank (PG Bank), Military Bank, GP Bank, and OceanBank pledged to finance Vipco Petrol Transportation Joint Stock Co to purchase a 46,732 dwt oil tanker vessel named Petrolimex 16.


Category: Stocks

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