* The State Securities Commission (SSC) on December 15 issued Decision No 99/UBCK-GP granting establishment and operation license to Hung Vuong Securities Co (HVS). HCM City-headquartered HVS with a chartered capital of 50.2 billion dong and legal capital of 35 billion dong is allowed to carry out business operations such as securities brokerage and securities investment consultancy.
* The Securities Depository Centre recently announced that December 31 would be the registration deadline for Hanoi Securities Trading Centre (HaSTC)-listed Ngo Quyen Export Seafood Processing Joint Stock Co (coded NGC) to close the list of shareholders to pay 10% dividend in cash for the second phase of 2008 and pay bonus shares, equalling to 1,000 dong per share. The payment date is on January 20, 2009.
* The State Securities Commission (SSC) recently announced that Gia Lai Commerce Joint Stock Co (Comexim Gia Lai) would advance 50% dividend in cash for the second phase in 2008, equalling to 5,000 dong per share. The company closed the shareholder book on December 10. The payment date is from December 15.
* The Saigon Beer Alcohol-Beverage Corp (Sabeco), the biggest beer manufacturer in Vietnam, recently announced that it closed the shareholder book on November 30 to pay 7% dividend in cash for the year 2008, equalling to 700 dong per share. The dividend will be paid from December 25.
* BOT Phu My Bridge Joint Stock Co (PMC) on December 17 signed cooperation agreements with big partners namely Saigon Asset Management Corp (SAM), Thanh Danh Ltd Co and Savomex Joint Stock Co (SAV) to provide consultancy services and arrange investment capital for three big projects with a total investment capital of US$1.2 billion which will be carried out in next year.
* Vietnam Railways Corp will schedule more trips for its new passenger train route from Hanoi to China’s Nanning City instead of the previous plan of two trips per week. The train from Nanning City will depart at 6 p.m, while its partner from Hanoi will depart two and a half hours later every day.
* Nguyen Phat Co in Tan Tao Industrial Park has offered unemployment benefits worth 250 million dong to 70 laid-off garment factory workers
* Khoi Nguyen Joint Stock Co has broken ground for the first campus of the Canada International School covering 16,000 square metres and comprising 66 classrooms and other necessary facilities in Binh Chanh District. The new school opens in September 2009.
* Korean-owned Global Sourcenet, located in Nhu Quynh A Industrial Zone, has been discovered using unauthorised software of domestic and international software companies worth over one billion dong by inspectors from the Ministry of Culture, Sports and Tourism.
* The State Bank of Vietnam’s (SBV) governor on December 16 issued Decision No 3132/QD-NHNN allowing the Western Commercial Joint Stock Bank (Western Bank) to set up asset and debt Management Company. AMC Western located at No 31A Block, Tra Noc Industrial Zone, Binh Thuy Dist in the southern province of Can Tho has a chartered capital of 100 billion dong.
* The Bank for Investment and Development of Vietnam (Bidv) recently sent documents to the government asking for approval to postpone the time to appraise the value of corporate assets to December 31. The bank’s equitisation will be carried out in 2009 at the most suitable time whereby Bidv will sell shares to foreign and domestic strategic investors and convert itself into a joint stock company model and make the initial public offering (IPO) at a favourable time.
* The chief of the Bank for Industry and Trade of Vietnam’s (VietinBank) board of director, Pham Huy Hung, recently announced that up to December 16, investors registered to buy over 30 million shares of VietinBank, accounting for over 56% of the total volume of 53.6 million shares offered in the auction.
* From December 17, Dai A Commercial Joint Stock Bank (TrustBank) officially applied a new deposit rate benchmark for US dollar. The demand deposit rate is 1.5% per annum, one-month at 4.45% per year, two months at 4.55%, and three months at 4.75%, six months at 5.15%, nine months at 5.2% and 12 months at 5.28% per annum.
Sources: Thoi Bao Kinh Te Vietnam, Lao Dong, Nguoi Lao Dong, Dau Tu, Dau Tu Chung Khoan, Tuoi Tre, Tin Tuc, Nhan Dan, Vietstock, SSC, VCBS, HaSTC.