Business Briefs April 13

* Quang Nam Post-Telecoms Construction and Services Corp (HNX: QCC) has recently announced the resolution of the annual general meeting 2012 whereby the company reported gaining 13.57 billion dong total revenue and after tax profit would be at negative 2.05 billion dong in 2011.

* UPCoM-listed MEINFE Joint Stock Co (coded MEF) has recently announced the resolution of the annual general meeting 2012 whereby in 2012, the company targets to gain 240 billion dong revenue, up 4.4 percent on year and after tax profit at 15 billion dong, down 30 percent on year with expected dividend at 30 percent.

* In the annual general meeting (AGM), the shareholders of Domesco Medical Export-Import Joint Stock Co (coded DMC) have approved the 2012 business plan with targeted revenue of 1.256 trillion dong, after tax profit of 89.7 billion dong and pay dividend at 20-22 percent rate.

* Song Ba Joint Stock Co (coded SBA) has approved the 2012 business plan with targeted revenue of 203.55 billion dong and after tax profit of 25.51 billion dong.

* Hochiminh Stock Exchange (STC) has released the announcement No 394/2012/TB-SGDHCM for listing additional shares of HCM City Securities Joint Stock Co (coded HCM) in the southern bourse.

* Thien Nam Trading Import-Export Joint Stock Co (coded TNA) has approved the 2012 business plan in the recent annual general meeting (AGM) with targeted revenue of 1 trillion dong, pre-tax profit of 50 billion dong and dividend rates of 20-25 percent.

* FPT Securities Joint Stock Co (FPTS) has recently announced its business performance in the first quarter of 2012 with net revenue of 61.6 billion dong, down 24.9 percent from the same period last year, consolidated profit at 54.4 billion dong, up 34.1 percent on year, net profit at 47.2 billion dong, up 42.2 percent on year.

* Ben Thanh Trading & Service Co (BTT) has announced April 24 as the ex-dividend date to pay 2011 third round dividend in cash for shareholders at 12 percent.

* Refrigeration Electrical Engineering Corporation (REE) has plans to sell five million treasury shares at 16,500 dong each from today to May 12 while Khanh Hoi Import Export Company (KHA) has bought back 400,000 shares as treasury shares.

* Vietnam Equity Holding has bought over 1.1 million shares of Japan Vietnam Medical Instrument Co (JVC) to spur its ownership from 5.4 percent to 7.5 percent.

* Nam Viet Corporation (ANV) has announced April 24 as the ex-dividend date for shareholders to receive 2009 dividend in cash at 9 percent.

* Vietnam Bank for Social Policies will auction 2 trillion dong worth of three- and five-year government bonds at the Hanoi Stock Exchange on April 17.

* Red River Holding has bought over 811,000 shares of Vinaconex Advanced Compound Stone Co (VCS) to raise its ownership from 16.9 percent to 18.4 percent.

* Low Current-Telecom Co has gained approval in principle to trade 706,000 more shares on the northern bourse.

* PetroVietnam Gas Joint Stock Corp (PV Gas) has announced some contents for its coming annual general meeting (scheduled on April 17), of which, the company plans to list shares of PV Gas on Singapore Exchange Limited (SGX) in the near future.

* Hanoi Education Development and Investment Joint Stock Co (coded EID) has recently released its fiscal statement in the first quarter of this year with net revenue of 40.4 billion dong, rising 20.38 percent from the same period of last year.

* Vietnam Chemical Group (Vinachem) has lately revealed that in the first quarter of 2012, the group has faced problems due to high stockpiled products, increasing trend in electricity price, coal price, petroleum price, fluctuation in forex rates and high lending interest. As the results, the group hasn’t fulfilled the targeted business plan.

* Hoa Binh Construction and Real Estate Trading Joint Stock Co (coded HBC) has released the 2011 audited financial reports with total revenue of 3.055 trillion dong, up 73 percent year-on-year, surpassing the targeted year plan by 22 percent, and after tax profit of 149.55 billion dong, up 7 percent and fulfilling 99.7 percent of targeted profit plan.

* In 2012, Tu Liem Urban Development Joint Stock Co (coded NTL) aims to obtain total revenue of 1.2 trillion dong, of which the company expects to gain revenue of 450 trillion dong from construction sectors and 650 billion dong from trading real estates.

* Vinh Khanh Cable Joint Stock Co (coded VKC) released the 2012 year plan with targeted revenue of 705 billion dong, pre-tax profit of 10.5 billion dong, equalling to EPS of 807 dong.

* Hoa Binh Rubber Joint Stock Co (coded HRC) approved the 2012 business plan in the latest annual general meeting (AGM) held yesterday. In details, the company set target to reach whole year production output of 2,300 tonnes of latex, purchase volume of 3,000 tonnes, bringing in revenue of 462 billion dong and after tax profit of 108 billion dong.

* Minh Phu Seafood Group Joint Stock Co (coded MPC) released that in the first quarter of 2012, the company exported 6,038 tonnes of frozen shrimp, bringing export turnover of $72.2 million, increasing by 25.55 percent in volume and 29.3 percent in value in comparison with the same period last year.

* HCM City Infrastructure Investment Joint Stock Co (coded CII) announced to start the construction project of Saigon Bridge No 2. The HCM City People’s Committee has assigned CII for conducting the project under BT method (Building-Transferring).

* Binh An Seafood Joint Stock Co (Bianfishco) has recently reached an agreement with a bank to get a loan worth 300 billion dong to recover production as well as pay for its debts, according to Tran Van Tri, husband of Pham Thi Dieu Hien, general director of Bianfishco.

* Quang Ninh Province People’s Committee has recently granted the investment license for China’s Texhong Ngan Long Science Co Ltd for building a new textile complex in Hai Yen Industrial Zone, Mong Cai City. The project would be sited in an area of 400,000 square metres with total investment capital of $300 million.

* Thien Nam Investment and Development Joint Stock Co yesterday officially inaugurated and put into operation the Duy Nam fibre plant sited in Binh An Textile Industrial Zone, Di An Town, Binh Duong Province, raising the company’s total designed production capacity for the whole system to 150,000 fibre piles, producing to the market over 25,000 tonnes of fibre per year, of which 80 percent would be for export purpose and the rest to meet the domestic demands.

* Quang Ngai People’s Committee has recently passed a development plan for Dung Quat Economic Zone (EZ) from now till 2015.

* Atlas Copco Vietnam Co Ltd yesterday introduced an energy-saving inverting air compressor and an air compressor which doesn’t use a lubricant and exude fumes into the environment. Although the cost of an inverting ail compressor costs around 30 percent more than a standard model, it saves up to 35 percent of electricity consumption.

* Saigon Trading Group (Satra) yesterday opened convenience store Satrafoods at 393 Quang Trung Street in Go Vap District, the eighth store of the Satrafoods store chain. Another Satrafoods store will be opened next week at 224 Lac Long Quan Street in District 11.

* Vietnam Electricity Group (EVN) has so far paid only 30 billion dong of last year’s total debt of 500 billion dong charged for forest environmental services with 17 billion dong paid by Hoa Binh hydropower plant.

* Con Bap Ecological Tourist Co. Ltd has begun construction of Con Bap Ecological Resort in Quang Nam Province’s Hoi An City. Covering an area of over 24 hectares, the 980 billion dong project consisting of hotels, commercial and convention sections, restaurants and a corn farm, will go into operation in the third quarter of 2015.

* Japan’s SE Group has signed a memorandum of understanding with Quang Ninh Province to construct 4.3-kilometre Bach Dang Bridge and a road linking Ha Long City with Hanoi – Hai Phong Expressway with total investment of over 10 trillion dong.

* Taya Vietnam Electric Wire and Cable Co (TYA) targets to obtain 1.5 trillion dong in revenue and 35.6 billion dong in after-tax profit in 2012.

* Viettronics Tan Binh Co (VTB) has established two affiliates in Hanoi and HCM City with each having a chartered capital of 6 billion dong.

* Sonadezi Long Thanh Co (SZL) targets to obtain 160 billion dong in revenue, 50 billion dong in pre-tax profit and pay dividend for shareholders at 15 percent this year.

* Vincom Company (VlC) has decided to contribute 3.6 billion dong, or a 60 percent stake, for the establishment of Vincom Retail Co Ltd

* Vietnam International Commercial Joint Stock Bank (VIB) has recently announced its consolidated business results for 2011 audited by KPMG, a global network of professional firms providing Audit, Advisory and Tax services.

* From April 10 to June 30, An Binh Commercial Joint Stock Bank (ABBank) has earmarked two trillion dong worth of soft loans at preferential interest rate for enterprises operating in export and import sector.

* Nam A Commercial Joint Stock Bank (Nam A Bank) has recently announced successfully organising its 20th annual general meeting (AGM) 2012 whereby the AGM agreed to raise the bank’s total assets to 28 trillion dong in 2012, up 47.8 percent from 2011.

* Saigon Bank for Industry and Trade (SaigonBank-SGB) has said that it will organise its annual general meeting (AGM) on April 25 to report the operation orientation in 2012.

* The central bank has allowed Vietnam Bank for Agriculture and Rural Development to establish a debt and asset management company with a chartered capital of 30 billion dong.

 

Category: Business