Business Briefs April 26
* In the annual general meeting (AGM) held recently, Vietnam Electric Wire and Cable Joint Stock Co (Cadivi) has approved the 2011 business results with total revenue of 3.175 trillion dong, fulfilling 127 percent of targeted year plan and pre-tax profit of 203 billion dong or 162 percent of the profit plan. The company would pay dividend at 70 percent rate, of which 40 percent would be paid in cash and the rest 30 percent in shares.
* Hoang Quan Real Estate Service Trading and Consulting Joint Stock Co (coded HQC) on April 26 organised its annual general meeting (AGM) 2012 in HCM City to report its audited consolidated fiscal statement in 2011 with revenue of 222 billion dong and after tax profit at 16 billion dong.
* In the upcoming 2012 annual general meeting (AGM) to be held on April 28, the management board of Thuan Thao Joint Stock Co (coded GTT) would seek approval among the shareholders for the targeted business plan with total revenue of 602 billion dong, profit of 87.8 billion dong and dividend at 12-14 percent.
* VI (Vietnam Investments) Fund has bought over 361,000 shares of Vinafco Corporation (VFC) to raise its ownership from 11.4 percent to 12.5 percent.
* Thu Duc Water Supply Co (TDW) has announced May 4 as the ex-dividend date to pay 2011 dividend in cash for shareholders at 12 percent.
* The State Securities Commission has allowed Cu Chi Commercial and Industrial Developing Investment Co (CCI) to offer over 4.3 million shares for existing shareholders.
* Basa Company (BAS) has announced May 10 as the record date to carry out procedures for listing stock on the UPCoM, the market for unlisted public enterprises.
* Viet Thang Feed Company (VTF) has announced May 8 as the ex-dividend date for shareholders to receive 2011 second round dividend in cash at 15 percent.
* Vinh Hi Food Processing and Construction Co (VHF) will float an additional 17.2 million shares on the northern bourse tomorrow.
* Nhon Trach Water Supplying Joint Stock Co (NTWA) has lately held the 2012 annual general meeting (AGM), in which the participants have passed the 2011 business results and worked out the targeted year plan for 2012.
* Saigon Vien Dong Technology Joint Stock Co (coded SVT) has recently approved the 2012 business plan with total revenue of 189 billion dong and after tax profit of 12.4 billion dong.
* Hoang Anh Gia Lai Joint Stock Co (coded HAG) has recently said that in the first quarter of 2012, the holding company’s net revenue reached 318 billion dong, rising 175 percent from the same period last year.
* Bac Giang province people’s committee has recently granted the investment licence to Wintek Vietnam Co Ltd, in which the local functional authority approved for adjusting to increase the investment capital by additional $870 million to $1.12 billion dong for conducting the second round of the project.
* Suzuki Vietnam Co Ltd yesterday officially kicked off construction works on the new automobile manufactory situated in Long Binh Industrial Park, Dong Nai province.
* In the annual general meeting (AGM), Lilama 18 Joint Stock Co (coded LM8) has approved the 2012 targeted year plan with total revenue of 638.5 billion dong and pre-tax profit of 30.4 billion dong, a slight increase against the previous year. L18 plans to pay dividend at 15 percent this year.
* Quoc Cuong Gia Lai Joint Stock Co (coded QCG) would hold the annual general meeting (AGM) today April 26, 2012. In the meeting, the company would seek approval among the shareholders about the targeted business plan.
* Vietnam Dairy Products Joint Stock Co (Vinamilk-coded VNM) has recently reported its consolidated business performance for the first quarter of 2012 with relatively good growths.
* Vingroup Group Joint Stock Co (coded VIC) has reported the business performance of the holding company in the first quarter of 2012 with net revenue of over 1.572 trillion dong, rising 250 percent on year.
* After using the petroleum price stabilisation fund to control gasoline prices for many times, currently, the petroleum price stabilisation fund is at negative 2.3 trillion dong, the Ministry of Industry and Trade said.
* Taicera Ceramic Industrial Joint Stock Co (coded TCR) has lately held the annual shareholders meeting. The company’s leaders in the meeting revealed that the company gained total revenue of 320 billion dong in Q1 of 2012, but loss of 19 billion dong.
* Le Quang Hung, chair of management board in Saigon Garment Manufacturing and Trading Joint Stock Co (coded GMC) has lately revealed that the company has signed the export contracts with partners with orders until October this year.
* McKinsey & Company Global Management Consulting Co on April 25 released its survey results in its “Online and future trends” report that was conduced in 30 countries, including Vietnam.
* Vietnam is estimated to have reached an export turnover of nearly $8 billion dong from agricultural products, forestry products and seafood in the first four months of this year, approximately the figure of the same period last year due to the falls in both export quantity and value, according to the Ministry of Agriculture and Rural Development.
* Binh Chanh Construction Investment Shareholding Co (BCI) targets to obtain 966 billion dong in revenue and 150 billion dong in after-tax profit this year.
* Northern Textile and Garment Co. (TET) obtained 9.5 billion dong in revenue and 2.6 billion dong in after-tax profit in the first quarter of this year.
* Vietnam Airlines is selling single fares from 1.55 million dong for flights departing from HCM City to Hanoi at 5:30 a.m. and the opposite direction from 10 p.m. until October 27 except holidays. These promotional fares are 34 percent lower than normal rates.
* Sony Electronics Vietnam yesterday introduced a collection of high-tech Internet TVs 2012 to make it easier for users to entertain themselves with various offline and online programmes. Users can connect to music, fashion, movies, sports events and other programmes as part of cooperation with its partners in the country.
* Vinatextmart supermarket chain has opened Vinatex NBC located at 4 Ben Nghe Street in District 7. With investment of 10 billion dong, the new supermarket will sell apparel products, cosmetics, food and home appliances.
* Binh Tay Liquor Joint Stock Company has received permission from the Ministry of Industry and Trade to relocate its liquor plant and office to another site near the existing site at 621 Pham Van Tri in District 6 due to capital shortage. Previously, HCM City wanted the firm to move its facility to neighbouring Binh Duong Province by April 21.
* Honda Vietnam yesterday introduced the limited version of sport utility vehicle CR-V with many improvements. This version will be distributed in Vietnam from next month with a suggested price of 1.138 billion dong inclusive of VAT, and a three-year or 100-kilometer maintenance.
* Intel Products Vietnam on Monday opened the largest solar power system in Vietnam after nearly five months of construction. The $1.1 million system can generate around 321,000 kWh each year which is used to replace nearly 30 percent of the total volume of power that the Intel chip plant in HCM City is consuming. The system can reduce the firm’s carbon dioxide emissions by 221,300 kilograms every year.
* Germany-based Siemens has held a conference on wind power in Hanoi to introduce the latest technology of the industry and provide necessary information for interested investors. Siemens has provided around 10,600 wind turbines with a total capacity of 16,000 MW worldwide, helping reduce carbon dioxide emissions by over 25 million tonnes per year.
* Hanoi Housing Development Commercial Joint Stock Bank (Habubank-HBB) has recently officially sent the shareholders its plan to merge with Saigon-Hanoi Commercial Joint Stock Bank (coded SHB). Thus, the draft merger plan between HBB and SHB has been officially disclosed together with relative details on merger plan, analyses for reasons, challenges, opportunities and prospect when the merger is successful, the local newswire VnEconomy reported.
* Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank-coded STB) has recently released its annual report in 2012 whereby in this year, the lender expects to gain total assets growth at 18 percent over 2011 to reach 165.5 trillion dong, equity growth at 30 percent to hit 18.5 trillion dong and chartered capital increase of 31 percent to 14.069 trillion dong.
* Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank-STB) has recently launched a preferential credit package worth one trillion dong for corporate customers (with priorities for new corporate customers) from now till May 17 or till the capital sources are used up.
* Military Commercial Joint Stock Bank (MBB) has recently announced its business performance for the first quarter of 2012 with a loss of nearly 120 billion dong from securities trading activities.
* Vietnam Export Import Commercial Joint Stock Bank (Eximbank-EIB) has reported its unconsolidated business results for the first quarter of 2012 with net interest income growth of 43.29 percent on year to hit over 1.468 trillion dong.
* HCM City Development Bank offers an interest rate of 16 percent a year for 1 trillion dong loans made available for exporters and importers. The programme will run till July 31.
* Orient Commercial Bank has expanded a service to collect payments of electricity bills from customers of 15 affiliates of HCM City Power Corporation.
Category: Business
