Business, banking and stock market report April 1
* International Finance Corp (IFC), member of World Bank, and Hanoi Securities Trading Centre (HASTC) on March 30 signed a memorandum of understanding on cooperation in improving the information disclosure and transparency of the bond and securities markets for unlisted companies (UPCOM market).
* The recent shareholders’ meeting of Thu Duc Import Export Trading Joint Stock Co (coded TMC) passed the plan of moving from the Ho Chi Minh Stock Exchange (STC) to Hanoi Securities Trading Centre (HASTC).
* Hoa Phat Group Joint Stock Co (HPG) announced that in March, it achieved 99 billion dong in after-tax profit, lifting the total figure of the first quarter to 280 billion dong (76 billion dong in Jan, 104 billion dong in Feb). Among 99 billion dong of March profit, 63 billion dong was earned from steel sales.
* Hyundai Vinashin Shipyard Ltd Co (HVS) yesterday successfully launched the ER.BERGAMO 56,000 dwt ship worth nearly US$47 million, which is one of 10 ships ordered by the German buyer E.R. Schiffahrt GmbH Cie & Kg.
* In the beginning of this September, Vincom Joint Stock Co will officially open the Vincom Galleries high class trade complex as an international graded shopping centre at Vincom Park Place No 144 Mai Hac De St, Hanoi.
* Hoa Binh Rubber Joint Stock Co (coded HRC) reported that until March 31, its revenue is estimated at 55 billion dong and pre-tax profit gained 15 billion dong, decreasing 24.6% and over 46% compared to the same period of last year.
* Korea Life Vietnam yesterday was officially inaugurated in Hanoi. Licensed on June 12, 2008 with total capital of US$60 million, Korea Life Vietnam will launch insurance products like An Sinh Giao Duc Toan Dien, An Sinh Gia Dinh Toan Dien, and others in the next time. The insurer plans to open a branch in HCM City within this year.
* State Securities Commission (SSC) on March 27 granted the license of public share offering to Ocean Commercial Joint Stock Bank (OceanBank). Accordingly, Oceanbank was allowed to offer 60 million ordinary shares at 10,000 dong par to the public, of which 18 million shares will be for existing shareholders, two million shares to its employees and director board, 20 million shares to PetroVietnam and 20 million will be offered to the public through the issue agent Ocean Securities Joint Stock Co.
* Vietnam Industrial and Commercial Joint Stock Bank or Vietinbank announced that it hiked the dong deposit rate for all terms with the highest level of 7.8% per annum. The interest rate of deposits raised in Hanoi had a rise of 0.1-0.5% per annum.
* The shareholders’ meeting of PetroVietnam Finance Joint Stock Corp (PVFC) passed the plan of reducing the state holding in its chartered capital structure from the current 78% down to 60% within this year.
* Military Bank (MB) has officially launched the “48-hour lending programme” for individuals, households and private enterprises. The time to deal with capital borrowing applications is within 48 hours. The lending limit lasts 12 months applied on loans for working capital, short-term business deals, 60 months applied on lending for investment projects.
* The shareholders’ meeting of Saigon Hanoi Commercial Joint Stock Bank (SHB) passed the plan of setting up a jewellery trading one member ltd company. The bank also will issue convertible bonds to raise the chartered capital from two trillion dong to 3.5 trillion dong.
* HCM City Housing Development Commercial Bank or HDBank held the annual shareholders’ meeting on March 31 to report the 2008 performance and approve the 2009 business results. Last year the bank posted total asset of 9.558 trillion dong, total outstanding loans of 6.175 trillion dong, total deposit of 7.772 trillion dong, 80 billion dong in pre-tax profit. The current chartered capital of HDBank reached 1.550 trillion dong.
Category: Stocks
