Business, banking and stock market report May 4
* In Jan-March, Metallic Production and Trading Joint Stock Co (STC coded KKC) reached over 88.2 billion dong in revenue and a loss of 13.3 billion dong in after-tax profit, Mirae Fiber Joint Stock Co (HASTC listed KMF) with 20.4 billion dong in revenue and over 1.6 billion dong in after-tax profit, Lilama 45.3 Joint Stock Co (HASTC listed L43) with 54.1 billion dong and over three billion dong, Lilama 69.1 JSC (HASTC listed L61) with 69.1 billion dong and 2.6 billion dong, Lilama 69.2 JSC (HASTC listed L62) with 47 billion dong and 2.5 billion dong, Long An Book and School Equipment JSC (HASTC listed LBE) with 4.9 billion dong and 43.8 million dong, Ha Tay Pharmaceutical JSC (HASTC coded DHT) with 136.3 billion dong and 3 billion dong, Hacinco JSC (HASTC coded HSC) with 2.2 billion and 497 million dong, Ha Tinh Book and School Equipment JSC (HASTC listed HBE) with 2.9 billion and 58.6 million dong.
* Ho Chi Minh Stock Exchange (STC) announced that the registration deadline for Ha Tien 1 Cement Joint Stock Co (coded HT1) to issue more shares and pay the 2008 dividend is May 7, 2009. The cement maker will issue 22,607,520 shares to the existing shareholders with a ratio 100:26 (26 new shares for 100 shares held) at 13,000 dong/share. Also, the company will pay a 2008 dividend at 5.5% on May 27, 2009.
* Saigon Telecommunication and Technology Corp (SaigonTel) (coded SGT) has approved the plan of raising its chartered capital to 772.75 billion dong in 2009.
* Ba Ria Thermoelectricity JSC (coded BTP) reported gaining a turnover of 343 billion dong and after tax profit of 25 billion dong in Q1 of 2009.
* Viet Tien Garment Co (VTEC) earned 343 billion dong in Q1 revenue, increasing 28% against 2008, and an after tax profit of 15.7 billion dong.
* Bank for Investment and development of Vietnam (Bidv) Dien Bien Branch signed a credit agreement on May 2 to finance project of Nam He hydroelectric plant. The construction site is located in Muong Tung Commune, Muong Cha District with the project’s total investment capital of 300 billion dong.
* Kinh Do Corp (coded KDC) recently announced its financial report for Q1 of 2009 with the Q1 after tax profit of 21.5 billion dong, a y-o-y reduction of 59%.
* Management board of Dung Quat oil refinery and PetroVietnam Transportation Corp (PVTrans) signed a contract for crude oil transportation for the factory.
* Bao Viet Insurance Group (Bao Viet) passed the plan of listing on Ho Chi Minh Stock Exchange (STC) within 2009. After being equitised in 2007, Bao Viet had a chartered capital of six trillion dong. Last year the insurer posted combined revenue of 11.808 trillion dong and after-tax profit of 529 billion dong, of which the revenue from insurance business accounted for 93%.
* Vietnam Import Export Commercial Joint Stock Bank (Eximbank) has reduced the short-term lending rate for import companies. Accordingly, the enterprises demanding to borrow US dollar to pay goods import will enjoy a new interest rate of 5% pa instead of the previous 6% pa of Eximbank. The lending rate of 5% pa will be applied on loans with terms of shorter 12 months.
* Saigon Commercial Joint Stock Bank (SCB) pledged to provide one trillion dong of loans to the companies that are rice grinders and processors in three districts of Cai Be, Cai Lay and Chau Thanh of the Mekong Delta province of Tien Giang according to the government’s demand stimulating programme.
* Vietnam Industrial and Commercial Joint Stock Bank (Vietinbank) and Italy’s Generali Group signed a memorandum of understanding on cooperation in setting up a life insurance arm.
* Southeastern Asia Commercial Joint Stock Bank (SeABank) on April 29 was awarded the “the prominent international payment” prize from CitiBank.
Category: Stocks
