Business, banking and stock market report Apr 8

* In Jan-March, Nui Ceo Coal Joint Stock Co (coded NBC) reached revenue of 347.69 billion dong that is expected to be 137.47 billion dong in April alone. The coal miner produced 383,315 tonnes of coal in March, bringing the total figure of first three months of this year to over 1.056 million tonnes. Its coal sales gained 410,832 tonnes in March and 1.040 million tonnes in Jan-March. Last year NBC posted nearly 1.480 trillion dong in revenue and more than 79 billion dong in after-tax profit.

* Minh Phu Fisheries Joint Stock Co reported exporting 2,160 tonnes of products for US$22.87 million in the first quarter of 2009, up 25% in volume but dipping 2% in value compared to the same period of 2008.

* The Electricity of Vietnam (EVN) earned 81 billion dong from leasing electric poles to telecom companies last year and the figure will increase to about 600 billion dong if EVN applies its new leasing prices, up by four to eight times. The group said that the revenue is mainly invested in maintenance1electric poles. EVN has assigned power companies to discuss new leasing fees with telecom service providers to replace the current prices that have been used since 2003.

* U&I Investment Joint Stock Co has asked for approval from Binh Duong Province to set up a high-tech agricultural park worth over 393 billion dong on 467 hectares in Phu Giao District.

* The Vietnam National Oil and Gas Group yesterday was chosen to be one of nine international oil exploiters for the second round of the bidding contract to exploit 11 oil and gas fields in Iraq, according the Iraqi ministry of oil and gas. The bidding has drawn 38 international bidders since it started on December 31.

* Hai Giang Joint Stock Co has been named developer of Hai Giang Tourism Complex covering 650 hectares in Nhon Hoi Economic Zone at a total cost of three trillion dong, or some US$170 million. The complex will include a resort, a golf course, and sports and entertainment facilities.

* Eastern Asia Plastic JSC last year gained total net revenue of 160.158 billion dong, after-tax profit of 4.871 billion dong, EPS of 487 dong against 2007′s 1,881 dong. Notably, its financial revenue reached accounted for 213 million dong while the financial cost was 8.103 billion dong, a 2.94 fold increase year-on-year. The company will organise the annual shareholders’ meeting on April 15, 2009.

* In 2008, Sam Cuong Telecom and Electrical Materials Joint Stock Co (Sametel) earned 34.14 billion dong in revenue, lower 5.35 billion dong against 2007, 2.46 billion dong in after-tax profit. The firm will hold the shareholders’ meeting on April 24, 2009.

* Work Construction 545 Joint Stock Co (CECO 545) has released the 2008 fiscal report with total revenue of 171.096 billion dong, a year-on-year growth of 30.02% and the after-tax profit of 20.465 billion dong, a nearly two fold increase against 2007.

* Quang Ngai provincial People’s Committee yesterday licensed Dong Nai based Tan Mai Paper Group to build a pulp mill in Binh Long commune, Binh Son Dist. Work on the pulp mill will start this month on an area of 45 hectares with total cost of 1.950 trillion dong.

* Grand-Place group, Belgium’s leading chocolate producer yesterday inaugurated a new chocolate factory in Vietnam-Singapore Industrial Park (VSIP). The factory has total estimated expense of over US$3 million and a designed capacity of 3,000 tonnes a year.

* TruongHai Group (Thaco) has launched Korea’s Hyundai-Kia Motor Corp’s New Cerato sedan and its SW-styled Soul priced at US$27,000 and US$29,000 respectively. After two-years of cooperation with the Korean corporation, Thaco has assembled and sold 2,700 Kia New Morning and New Carens cars.

* Maritime Commercial Joint Stock Bank (Maritime Bank) reported that its chartered capital had been risen from 1.5 trillion dong to 2.240 trillion dong till the end of first quarter of 2009.
* Asian Development Bank (ADB) announced that it would provide another loan of US$151 million to Vietnam for improving power supply services to the poor in remote and disadvantaged areas.
Among total US$197.6 million spent on the project, ADB’s loan is provided under the method of Special Capital Withdrawal Right from Asia Development Fund and the remaining US$46.6 million will be contributed by three members of Electricity of Vietnam (EVN).

* First (De Nhat) Commercial Joint Stock Bank or Ficombank-FCB announced that it would issue extra 39,041,260 shares with a selling price equalling to the face value in order raise the chartered capital from 609 billion dong to one trillion dong.

* VietBank and AIG Life (Vietnam) signed a memorandum of understanding on cooperation at the inauguration ceremony of VietBank’s new branch at No 5 Tran Hung Dao St of Hai Phong City. As planned, VietBank’s network will be expanded to 40 transaction sites nationwide in 2009.

* Asia Commercial Joint Stock Bank (ACB) will launched a prize based promotion programme named “Happy House” for all saving senders between April 7 and June 25, 2009 with total prize value of over 2.7 billion dong. With a deposit of at least 10 million dong, US$500, 500 euro or five tenth of a tael, customers can join the spinning a wheel for prises. And as for a deposit of from 30 million dong, US$2,000 or 2,000 euro with a term of longer 2 months, depositors can receive a scratch ticket for more valuable prises.

* From April 8, Viet A Commercial Joint Stock Bank (VietA Bank) launched the promotion programme “Sending money, receiving automobile insurance card” on all over the network. The programme is applied on all customers who have deposits of at least five million dong, US$250 or three tenth of a tael.

 

Category: Stocks