Business Briefs April 21, 2017

21-Apr-2017 Intellasia | | 3:15 PM Print This Post

* Mitsubishi Corporation has become a major shareholder of Vinh Hoan Corporation (VHC) after acquiring six million VHC shares, or a 6.49 percent stake in the enterprise.

* Blue Point Stock Company has purchased over 1.9 million shares of Khanh Hoi Investment and Services Corporation (KHA) to spur its holding from 3.4 percent to 17.1  percent.

* LDG Investment Company (LDG) has approved a plan to issue nearly 17.7 million shares, or 20 percent of the current outstandingvolurne, to pay dividend for existing shareholders and 300,000 shares under an employee stock ownership plan (ESOP).

* CNG Vietnam Company (CNG) said its net profit increased 8 percent year-on-year to VND22 billion in the first quarter of this year while its revenue soared 40 percent to VND291 billion. The firm targets a net profit of VND80.8 billion in 2017, presuming that crude oil prices will average out

at $50 a barrel. Its revenue is set at VND980.6 billion.

* Saigon Beer-Alcohol-Beverage Corporation (SAB) has announced preliminary first quarter business results including revenue of VND7.5 trillion, up 5 percent year-on-year, on the back of 435 million litres sold and before-tax profit of VND1.2 trillion, equivalent to last year’s figure.

The results are in line with the company’s targets for 2017. SAB’s sales volume is growing faster in the North than in the South as the northern revenue

reached double-digit growth in 2016 against an overall volume increase of 8.3 percent. Besides, SAB will consider raising selling prices in 2017 as it did in. 2016 to offset a hike in the special consumption tax from 55 percent to 60 percent at the start of this year, said Viet Capital Securities Company.

* Everpia Company (EVE) has got approval to establish a subsidiary inSouth Korea, which has a chartered capital ofUS$1.5 million and capacity of 80,000 garment products each year.

* Masan Resources Company (MSR) is targeting revenue ofVND5.4-5.6 trillion in 2017, up 33-38 percent versus 2016, and after-tax profit of

VND150-290 billion, or 36-164 percent higher than 2016. The growth will be primarily driven by higher average selling prices, a ramp-up in production of value added tungsten products, commercial production of a new bismuth cement circuit and improved productivity, particularly in tungsten and fluorspar.


Category: Business, Vietnam

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