Business, banking and stock market report May 28

28-May-2009 Intellasia | | 8:43 PM Print This Post

* HCM City People’s Committee has requested the ministry of finance to disburse more two trillion dong from the State Treasury’s idle funds to push up the implementation process of construction project on Thu Thiem new urban area.

* PetroVietnam Joint Stock Finance Corp (PVFC) signed a cooperation contract with Coal and Mineral Financial one-member Co Ltd (CMF) in Hanoi yesterday. Under the contract, the two parties would cooperate to do business in some sectors such as cooperation in capital raising, investment, credit and financial services for enterprises.

* Indochina Land introduced to public the project of Hyatt Regency Da Nang Resort and Spa in HCM city lately. The total investment capital for the project was posted at $130 million. The construction kicked off in April 2008 and it’s expected to be finished at the end of 2011.

* State Securities Commission’s (SSC) governor approved Southern Hydropower Joint Stock Co (SHP) to sell shares to the public, under Official Letter No 396/UBCK-GCN.

* Hanoi Securities Trading Centre (HASTC) on May 27 received the listing application of Saigon Hanoi Securities Joint Stock Co (SHS). Accordingly, SHS with a chartered capital of nearly 410.630 billion dong registered to list 41,062,996 shares on the northern bourse.

* Prudential Balanced Fund 1 (PRUBF1) has announced its net asset value (NAV) per unit by May 21 at 8,268 dong, increasing 58 dong from the previous week. Meanwhile, NAV of Vietnam Investment Fund (VFMVF1) was 19,385 dong, rising 710 dong. NAV of Manulife Progressive Fund (MAFPF1) increased 317 dong to 5,843 dong, and NAV of Vietnam Blue-chips Fund (VFMVF4) increased 460 dong to 10,656 dong by May 21.

* The Hanoi Securities Trading Centre has approved the listing of Da Nang Plastic Co (DPC) which is listing on HCM City bourse but must move to the north for failing to raise chartered capital as required. The company will trade 2.24 million shares there.

* Ho Chi Minh Stock Exchange (STC) announced the list of 14 companies forced to stop listing on the southern bourse and move to HASTC within the next week according to State Securities Commission’s Official Letter No 163/UBCK-PTTT dated February 10, 2009. The list includes TMC, DXP, UNI, SJ1, PMS, SAF, VTC, BPC, VGP, DPC,. CAN, SHC, HBD and SFN.

* International Shipping and Workers Cooperation Joint Stock Co (coded Inlaco) announced to pay accumulative dividend for two years of 2007-2008 in shares. In details, the dividend for the last six months of 2007 was 6.5 percent; the company’s 2008 dividend was posted at 14 percent, in which Inlaco had made advanced payment of 10 percent in cash. The company’s shareholders has approved to pay the rest of 2008 dividend of 3.5 percent in shares in the 2009 shareholders meeting held lately.

* Cotec Construction Joint Stock Co (Coteccons) yesterday announced that it would issue 6.45 million shares worth 64.5 billion dong on par. In which, six million bonus shares will issued to the existing shareholders at the ratio of one new share for two old shares. The deadline to close the shareholder list for the bonus share offering is 5pm June 13, 2009.

* Up to May 27, PetroVietnam Finance Joint Stock Corp (PVFC) sold out total three million shares coded PET, DPM, PVT and continued registering to sell extra seven million shares coded PVT, PVI, PVS, DPM and PPC.

* From last June 6, 2008 and this year’s May 5, Tien Phong Commercial Joint Stock Bank (TienPhongBank) reached total asset of 3.1 trillion dong, and total deposit of 1.347 trillion dong. During the first quarter of 2009, the number of ATM cards issued by TienPhongBank achieved nearly 3,000, growing by 69 percent from the previous quarter.

* Hanoi Building Commercial Joint Stock Bank or Habubank raised the interest rate of products of individual finance consultancy service for both the dong and US dollar from May 27.

* HCM City Housing Development Commercial Joint Stock Bank (HDBank) announced it raised the deposit rate of the dong and gold. Under it, from today May 28, the dong deposit rate was increased to 9.8 percent pa at highest while the gold deposit rate climbed to 4.6 percent a year.

* Bao Viet Commercial Joint Stock Bank (BaoViet Bank) yesterday officially inaugurated and started operation of the HCM City branch at No 6 Le Thanh Ton, Dist 1 with full of banking services.

* Vietnam ThuongTin Commercial Bank, or VietBank, has opened a transaction office in Ba Dinh District in Hanoi, the tenth banking unit of the bank, which expects to have 30-40 banking units by the end of this year.

* From May 29, Eastern Asia Commercial Joint Stock Bank or EAB will continue the programme of lending for instalment purchase at Carings supermarket chain. The programme will be launched for customers with a monthly income of at least three million dong without secured assets. Customers can borrow up to 50 million dong loan at 0 percent to buy goods at Best Carings.

 


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