Business Briefs April 27

* In the annual general meeting (AGM) held on April 25, 2012, the northern bourse-listed PetroVietnam Engineering Consultancy Joint Stock Corp (coded PVE) has approved the 2012 business plan with targeted revenue of 86 billion dong, pre-tax profit of 77 billion dong and dividend rate of 18 percent.

* Vietnam Securities Depository Centre (VSD) – HCM City branch has lately announced the dividend payment schedule of PetroVietnam general Services Joint Stock Corp (coded PET).

* Hochiminh Stock Exchange (STC) has lately released the announcement about the dividend payment plan of Tay Ninh Rubber Joint Stock Co (coded TRC).

* Vietnam Securities Depository Centre (VSD) has lately released the registration deadline to close the shareholders list of Dong Nai Port Joint Stock Co (coded PDN) for dividend payment purpose.

* The management board of An Giang province-based Sao Mai Investment and Construction Joint Stock Co (coded ASM) plans to seek approval among the shareholders in the coming annual general meeting to be held on May 12, 2012. In details, the company aims to obtain whole year revenue of 1.31 trillion dong and after tax profit of 133.44 billion dong in 2012. The company would pay dividend at 20 percent in cash this year.

* Masan Group Joint Stock Co (coded MSN) has recently announced the resolution of its annual general meeting (AGM) 2012 whereby the AGM agreed on a plan to issue new shares to hike chartered capital.

* In the annual general meeting (AGM) held yesterday April 26, 2012, the shareholders of Lam Son Sugar and Sugarcane Joint Stock Co (coded LSS) have approved the plan for issuing 200 billion dong convertible bonds, of which 75 percent would be offered to the existing shareholders and the rest 25 percent for the sugarcane farmers and current employees.

* In the first quarter of 2012, Vndirect Securities Joint Stock Co (coded VND) reported gaining 62.4 billion dong net revenue, down 25 percent over the same period last year.

* At the annual general meeting (AGM) of HCM City Securities Joint Stock Co (HSC-coded HCM) on April 26, HSC’s leader said that as of the end of the first quarter of 2012, the total lending value for margin trading activities at HSC reached 1.259 trillion dong, over two fold increase against the end of 2011.

* In the annual general meeting (AGM), Dong Do Petroleum Joint Stock Co (coded PFL) has approved the 2012 targeted year plan with total revenue of 80 billion dong and pre-tax profit of 3.15 billion dong. The company decided not to pay dividend for shareholders this year.

* Tan Dai Hung Plastic Co (TPC) has announced May 9 as the ex-dividend date to pay 2011 dividend in cash for shareholders at 20 percent.

* HCM City Infrastructure Investment Co (CII) has announced May 7 as the ex-dividend date for shareholders to receive 2011 cash dividend at 18 percent.

* Hanoi-Hai Phong Beer Joint Stock Co has withdrawn its listing application from the Hanoi Stock Exchange as it wants to trade its shares on the UPCoM, the market for unlisted public companies.

* BIDV Securities Co has sold over 576,000 shares of Sa Giang Import Export Corporation (SGC), an 8 percent stake in the latter.

* Vietnam Construction Co. No.2 (VC2) has gained approval in principle to float an additional four million shares on the northern bourse.

* Yen Bai Agro-forestry Products and Foodstuff Corporation (CAP) has announced May 11 as the ex-dividend date for shareholders to receive 2011 cash dividend at 52 percent.

* Song Da Investment and Development Joint Stock Co (coded SIC) have lately released the Q1 financial reports with total revenue of 20.96 billion dong and after tax profit of 1.18 billion dong, declining sharply against the same period last year.

* Masan Group Joint Stock Co (coded MSN) has recently announced its business results for the first quarter of 2012 with net revenue of 1.538 trillion dong, rising 16 percent over the same period last year.

* Hanoi and HCM City will build 5.9 million square metres of social houses in 2012-2015 period, the Ministry of Construction said, adding that this target is to early realise the plan in the National Housing Development Strategy.

* Song Da 9 Joint Stock Co (coded SD9) has lately set target to reach Q2 revenue of 264.5 billion dong, pre-tax profit of 12 billion dong and total investment value of 50.5 billion dong.

* FLC Group Joint Stock Co (coded FLC) has lately announced to pay 2011 dividend in cash, at applied rate of 7 percent, starting from April 26, 2012.

* Kinh Do Joint Stock Co (coded KDC) has reported its business performance in the first quarter of 2012 with a 4 percent decrease in net revenue over the same period last year to 379 billion dong.

* PetroVietnam general Distribution Services Joint Stock Co (PSD), the member company under PetroVietnam general Services Joint Stock Corp (coded PET) announced to cooperate with Zyxel Communications, the provider of advanced internet solutions and products in Vietnam so far.

* In the annual general meeting (AGM) held on April 25, Vingroup Joint Stock Co (coded VIC) has released the 2012 business plan with targeted revenue of 12.364 trillion dong and after tax profit of 3.055 trillion dong.

* Zenith Optimedia Group, one of the world’s leading media agency networks, has launched a new global strategic positioning, Live ROI. The group is also unveiling a comprehensive global rebrand across all its companies to reflect the new positioning. With Live ROI, the group is committed to deliver state-of-the-art data analytics and breakthrough creativity to provide innovative ROI solutions for clients.

* LG Vietnam on Tuesday introduced LG Cinema 3D Smart TV in Vietnam, Dau Tu reports. LG expects its 3D TV products to account for around 70 percent of all new family entertainment products this year.

* Vinashin Ocean Shipping Co. (Vinashinlines) has asked the Ministry of Transport for permission to sell the loss- making Hoa Sen ship as part of its restructuring plan. If the ship, which has been docked in China for a long time, is sold the firm will not have to bear additional operating costs.

* Japan’s Kyocera Group this June will construct a plant producing cell phones and electronic components covering an area of 89,000 square meters in Thang Long II Industrial Park in the northern province of Hung Yen. The first phase of the project worth $55 million will be completed in August next year.

* Petrolimex Joint Stock Tanker Company (PJT) has decided to purchase three ships, inc1uding Petrolimex 02, Vip Oland Vip 02, from Vietnam Petroleum Transport Joint Stock Company at a total cost of 28 billion dong.

* Viky Plastic Company (VKP) is looking to obtain 285 billion dong in revenue and 18 billion dong in after-tax profit, and pay a 15 percent dividend for shareholders this year.

* Dat Xanh Real Estate Service & Construction Corporation (DXG) has set targets of gaining 300 billion dong in revenue and 70 billion dong in pre- tax profit in 2012.

* At a press conference on April 26, PetroVietnam Finance Joint Stock Corp (PVFC-coded PVF)’s Nguyen Thien Bao, general director, said that his firm is preparing to turn into a commercial bank.

* Vietnam Prospect Commercial Joint Stock Bank (VPBank) held the annual general meeting (AGM) on April 24, 2012. In the meeting, the bank has approved the 2012 business plan with targeted total assets value of 110 trillion dong, pre-tax profit of 1.3 trillion dong, increasing by 33 percent against the previous year, return on equity (ROE) of 16.4 percent and return on asset of over 1 percent.

* Asia Commercial Joint Stock Bank (ACB) has recently reported its business results for the first quarter of 2012 with net interest income at 1.651 trillion dong, rising 29 percent over the same period last year.

* Ocean Group Joint Stock Co (OGC) has recently reported its business performance for the first quarter of 2012 with a strong decline in net revenue and original costs of goods for sales over the same period last year, at 75 percent and 81 percent respectively.

* Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank-STB) has announced its business results for the first quarter of 2012 with net interest income of 1.466 trillion dong, rising 29 percent on year.

* Tran Bac Ha, chair of management board in Bank for Investment and Development of Vietnam (Bidv) has lately revealed that the bank has planned to hike chartered capital of Laos-Vietnam Joint Venture Bank (LVB) from $35 million to 70 million in May 2012.

* In the annual shareholders meeting held on April 25, 2012, the shareholders of Saigon Commercial Joint Stock Bank (SaigonBank) have approved the 2012 business plan. In details, the bank’s chartered capital would be raised to 3.5 trillion dong from the current 3 trillion dong. SaigonBank also expects to reach total pre-tax profit of 460 billion dong, up 14 percent year-on-year and pay dividend at 8 percent, up 2 percent against that of 2011.

* At the press conference on April 26 to prepare for the coming annual general meeting (AGM) (scheduled on April 28) of PetroVietnam Finance Joint Stock Corp (PVFC-coded PVF), Nguyen Thien Bao, PVFC’s general director, said that so far PVFC has reclaimed 1.025 trillion dong (including 800 billion dong and 225 billion dong in two times) of the total 1.8 trillion dong debt from Vietnam Shipbuilding Industry Group (Vinashin).

* The management board of Navibank planned to submit the 2012 business target with total profit of 300 billion dong, only 60 billion dong higher than the previous year. The bank’s return on equity (ROE) was estimated at over 9.7 percent.

* Hanoi-based Maritime Bank has opened two transaction offices at 41 Nguyen Thi Minh Khai Street in HCM City’s District 1 and at 27 Yersin Street in Binh Duong Province’s Thu Dau Mot Town, increasing its total transaction points nationwide to 212.

* Saigon Thuong Tin Commercial Bank says 1 trillion dong preferential loans are available for corporate clients from now to May 17, with priority given to new customers. The bank has also launched a lending product for exporters and importers with interest rates subject to periodical change.

 

Category: Business