Business, banking and stock market report August 03

03-Aug-2009 Intellasia | | 7:07 PM Print This Post

* The Hochiminh Stock Exchange has issued decisions to allow Vinaland, DIC Corp and Casurnina to list 10.56 million, 60 million and 25 million shares respectively on the southern bourse.

* Hanoi Stock Exchange yesterday approved the listing of nearly 2.68 million shares of the mining company Vinavico (CTM) on the northern bourse.

* Hanoi Stock Exchange (HNX) has announced that it would hold a tender for one trillion dong of G-bonds issued by Vietnam Expressway Development Joint Stock Corp (VEC) for the Noi Bai-Lao Cai expressway project on August 5 via the northern bourse. These bonds will be issued under the guarantee of the government.

* Hanoi Stock Exchange (HNX) announced that the registration deadline to close the list of shareholders of Viglacera Dong Trieu Joint Stock Co would be August 10 for 2009 first phase dividend payment in cash. The dividend rate was posted at 70 percent or 7,000 dong per share. The payment date is set at August 28.

* Southern Battery and Cell Company (PAC) will break ground for its Nhon Trach Battery Factory on August 10 in Dong Nai Province with investment of 260 billion dong for the first stage.

* All 19,125,000 shares of PetroVietnam or 66.58 percent in PV Securities will be transferred to PetroVietnam Insurance JS Corp, State Securities Commission (SSC) announced. After the transfer, PVI’s holding in PV Securities will be raised from 3.75 million shares or 13.05 percent stake to 22.875 million shares or 79.63 percent.

* Phuc Hung Thinh Software Solution Joint Stock Co (SS4U) has delivered Enterprise Resource Planning software-B4U worth $50,000 to the Business Administration Faculty of the HCM City University of Industry. The software, which was offered free-of charge to HCM City National University and Ton Duc Thang University by SS4U last year, will also be given to HCM City Banking University and HCM City University of Economics this year, having been applied at many enterprises nationwide.

* Electricity of Vietnam (EVN) Group has sole over 2.7 million shares of Phalai Power Company (PPC) to reduce the State stake in this power generation company to 219.04 million shares, or a 67.14 percent stake.

* Techcombank on Wednesday signed an agreement with the security solutions provider VeriSign Inc. as the supplier of Extended Validation for the bank’s websites to help improve security for the bank’s online transactions.

* VinconLand and Finance Investment Joint Stock Co has begun work on a social housing project with 1,200 apartments at An Van Duong Township in Hue City. The first stage of the project covering over 1.1 hectares that is expected to be finished within 12 months will offer 400 apartments measuring 50 square metres each at a price of 200 million dong.

* Song Da-Thang Long Joint Stock Co under Song Da Corp. has inaugurated a centre showcasing four models of the U Silk-City project which covers 3,000 square metres in Van Khe New Urban Area in Hanoi’s Ha Dong District.

* Hoa Hoi Joint Stock Co held a groundbreaking ceremony for the construction of Hoa Hoi Industrial Park worth over 440 billion dong and covering 265 hectares in Binh Dinh Province’s Phu Cat District.

* Vietnam Dairy Products Joint Stock Co (Vinamilk) has invested almost $20 million to build an instant coffee processing plant with annual capacity of 1,500 tonnes of instant coffee covering six hectares in Binh Duong Province.

* HCM City Oil and Gas Co. (Saigon Petro) has cut the retail price of 12 kilogram gas cylinders by 4000 dong. The reduction is attributed to the fact that the world’s gas price for August delivery dropped to $505 per tonne, down by $15 per tonne compared to July.

* Ba Huan Private Enterprise, who have been granted an investment certificate for an egg processing plant in the Mekong Delta’s Tra Vinh Province, are finishing preparatory steps to import another production line to triple its capacity to meet the daily demand of 3 million eggs in HCM City. The company, with 2,500 outlets around HCM City, holds 50 percent of the city’s clean egg market.

* The State Bank of Vietnam (SBV)’s governor on July 31 issued a Decision No 1837/QD-NHNN allowing Lien Viet Commercial Joint Stock Bank (LienVietBank) to issue long term valuable papers in dong worth 500 billion dong in total in 2009. Under it, LienVietBank is allowed to decide the coupon rate of these papers in accordance with the central bank’s Decision No 16/2008/QD-NHNN dated on May 16 on basic rate management mechanism in dong.

* HCM City Housing Development Commercial Joint Stock Bank (HDBank) has recently announced that it would issue Certificate of Deposits (C/Ds) from August 1 with super interest rate. These C/Ds have minimum face value of five million dong with term of 364 days.

* Vietcombank (VGB) announced its second-quarter pre-tax profit at 1,216 billion dong, falling 12.7 percent from the previous quarter as the bank had to set aside 250 billion dong as provisions for overdue debts, which was not done in the first quarter.

* Saigon- Hanoi Commercial Bank has gained approval from Hanoi Stock Exchange to list an additional 150 million shares on the northern bourse, raising the total number on bourse to 200 million shares.

* Bao Viet Corporation has sold over 132,000 shares of Thuan An Wood Co. (GTA) to reduce its holdings to nearly 489,000 shares, or a 4.7 percent stake.


Category: Stocks

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