Business Briefs April 2

02-Apr-2012 Intellasia | | 8:39 PM Print This Post

* Singapore Stock Exchange (SGX) has recently granted license approving in principle Vincom Joint Stock Co (southern bourse-listed VIC) to list $300 million worth of bond in the market.

* In the annual general meeting (AGM) held on March 30, 2012, the shareholders of Mekophar Pharmaceutical Joint Stock Co (coded MKP) approved for purchasing up to 30 percent of the total stake as fund shares, following the requirement of Hochiminh Stock Exchange (STC).

* The State Securities Commission (SSC) has lately issued the certificate for offering new shares to public for Kien Giang Construction and Investment Consultancy Joint Stock Co (CIIC).

* Sai Dong Investment and Urban Development Joint Stock Co (coded SDI) has currently purchased shares of South Hanoi Urban Development Joint Stock Co (coded NHN). In details, from February 13 to March 26, 2012, SDI finished buying 42 million shares from NHN’s four large shareholders.

* Manulife Fund Management Co held the shareholders meeting on March 29, 2012 for Manulife Growth Investment Fund (MAFBF1). In the meeting, the shareholders have approved for adjusting the fund’s regulations so as to change the fund’s operation model from close fund into open fund in 2013.

* Hanoi Stock Exchange (HNX) officially put the shares of Hai Phong Securities Joint Stock Co (coded HPC) into watchdog from March 30, 2012 due to suffering from consecutive loss in two years of 2010 and 2011. According to the company’s business reports, the securities firm incurred loss of 48.7 billion dong in 2010 and 94.7 billion dong in the following year.

* Investment and Trading of Real Estate Co (ITC) will be put into the watch list from tomorrow as it reported losses of over 137 billion dong last year.

* PetroVietnam Securities Inc (PSI) has closed two transaction offices in Hanoi and HCM City.

* Binh Duong Mineral and Construction Co. (KSB) has gained approval to trade 7.3 million more shares on the southern bourse.

* Market Vectors ETF Trust-Market Vectors – Vietnam ETF has sold over 3.3 million shares of Vietnam Construction and Import-Export Co (VCG) to reduce its holding from 5.7 percent to 4.6 percent.

* Song Hong Construction Co will sell one million shares of Saigon Petroleum Construction and Investment Co (PSG) from tomorrow to May 29.

* Bach Dang TMC Construction Investment Co (BHT) will float an additional two million shares on the northern bourse on April 4.

* The vicem Cement Transport Materials Joint Stock Co (coded VTV) has recently announced the document for its AGM (annual general meeting) 2012 whereby the company targets to gain 3.606 trillion dong revenue from merchandise, 42.29 billion dong profit and 12 percent dividend.

* Ben Thanh Service Joint Stock Co (coded BSC) has said that it will submit the annual general meeting (AGM) 2012 a business plan with 65 billion dong revenue, five billion dong pre tax profit and minimum dividend at 8 percent in 2012.

* CBRE Vietnam and Singapore GuocoLand on March 27 inaugurated Canary Plaza trade centre in the southern province of Binh Duong.

* The Construction Joint Stock Co No 2 (Vinaconex 2 – coded VC2) announced to gain low profit in Q1 of 2012. The company expects to gain more revenue and profit in the coming quarters after the company reports revenue gained from real estate projects such as Dong Ngac and Quang Minh apartment complex.

* Vietnam Italy Steel Joint Stock Co (coded VIS) has currently approved for merging Song Da Steel Joint Stock Co into VIS with applied ratio of 1.3:1 (or 1.31 share of Song Da Steel Joint Stock Co for 1 VIS-coded share). After the merging, Song Da Steel Joint Stock Co would become the branch of VIS. At the same time, VIS’ chartered capital would be hiked to 492.2 billion dong.

* Coma 18 Joint Stock Co (coded CIG) held the annual general meeting (AGM) and approved the 2012 business plan with targeted production output of 220.131 billion dong, total revenue of 143.612 billion dong and after tax profit of 18.75 billion dong.

* VLC Group on Tuesday officially started its operation in Hai Phong City with nine member companies. On the same day, the group kicked off construction of the 28-floor SHP Plaza, which will be the tallest building in Hai Phong City and will consist of apartments’ restaurants, offices and retail and service sections.

* The Big C supermarket chain is offering discounts of 5-40 percent on 1,000 products and gifts until mid-April.

* Japanese-invested RK Engineering Co Ltd on Tuesday opened a plant producing metal tanks with investment of $14 million in Dinh Vu Industrial Park, Hai Phong City. Its products will be exported to Japan.

* VinaPhone has offered a discount of 200,000-300,000 dong for the purchase of iPhone 416GB, 32GB and 64GB devices if customers register with prepaid mobile service packages iSurf and iSurfO.

* Microsoft and Housing Development Bank have signed an agreement to deploy technological products and solutions from Microsoft in the bank’s activities to increase business efficiency, save costs, increase information security and provide customers with modern banking services.

* Keangnam Vina Co Ltd has proposed to transfer the management of Keangnam Hanoi Landmark Tower to Hanoi City’s government as the building’s management company Chestnut Vina Co Ltd does not have enough money to pay its staff and operate the building. Most residents living in the building only pay 4,000 dong per square metre in service fees instead of 18,800 dong as required, while others refuse to pay the fees.

* PetroVietnam Gas Joint Stock Corporation, which is capitalised at over 18.9 trillion dong, has sent a listing application to the Hochiminh Stock Exchange.

* Hamico Mineral Group Co (KSH) attained 60.2 billion dong in revenue and 407 million dong in after-tax profit last year.

* Post & Telecommunications Investment and Construction Co. (PTC) has stopped operation of a branch in Da Nang City.

* Saigon Cable Corporation (CSG) targets to obtain 400 billion dong in revenue, 30 billion dong in pre- tax profit and pay dividend for shareholders at 30 percent this year.

* Vietnam Golf Tourism Co (VNG) obtained 62.7 billion dong in revenue and 4.4 billion dong in pre-tax profit in 2011.

* Agriculture Printing and Packaging Co (INN) has decided to increase its chartered capital from 54 billion dong to 81 billion dong.

* Lien Viet Post Commercial Joint Stock Bank (LienVietPostBank) has lately announced to advance first round dividend of 2012 at 3 percent in cash according to the list of shareholders closed on March 20, 2012.

* Early 30 March, DongABank’s general shareholder meeting 2012 was attended by 340 shareholders representing 68.26pct voting stake. Total assets are expected to gain 100 trillion dong for 2012, up 52pct over last year’s realised number; capital mobilisation 86 billion dong, up 78pct; outstanding credit 50,600 billion dong, up 15pct. Bad debt ratio is targeted to be well below 1.5pct.

* Speaking at the general shareholder meeting 2012 in the early morning of 30 March, Ly Xuan Hai, general director of ACB confirmed that the bank is not interested in joining the race for the acquisition of Sacombank (STB).

* Mekong Delta Housing Development Commercial Joint Stock Bank (MHB) has said that it launched a “Together MHB – Not worry about interest rates” programme whereby enterprises will have opportunities to borrow capital with interest rate lower by 1-2 percent than the bank’s common lending interest rate, according to the local newspaper Tien Phong.

* NamABank has lately approved the 2012 targeted year plan in the annual general meeting (AGM). In details, the bank’s chartered capital would be hiked to 3.7 trillion dong.

* Hanoi Building Commercial Bank (HBB) cancelled a plan to issue 960 billion dong worth of convertible bonds in the last quarter of 2011 given difficulties on the financial and banking market.


Category: Business

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