Business Briefs February 07
* Gia Lai Power Joint Stock Co. has registered to buy over 617,000 shares ofTay Nguyen Electricity Investment Co. (TIC) to bring up its ownership from 53.9 percent to 56 percent.
* Ba Ria-Vung Tau House Development Co. (HDC) has won an investment license to build Phuoc Thang urban area at a total cost of VND1.4 trillion.
* BIDV Insurance Corp. (BIC) has bought back one million shares for treasury.
* Dat Phuong Nam Construction and Investment Co. has bought over 136,000 shares of Saigon Cable Company (CSG) to raise its shareholding from 9,8 percent to 10.3 percent.
* Petrolimex International Trading Co. (PIT) obtained over VND4.1 billion in after- tax profit last year.
* Phu Tai Company (PTB) has decided to trade three million more shares on the southern bourse.
* Vinh Hoan Corporation (VHC) attained VND337 billion in after-tax profit in 2011, rising by Bl percent against the previous year.
* Vietnam Development Bank will offer three and five-year government bonds worth a combined VND4 trillion at auction on the northern bourse on February 8.
* State Capital Investment Corp. has registered to offload over 1.3 million shares of Lam Dong Foodstuffs Co. (VDL), or a 41.6 percent stake in the enterprise.
* Viet Anh Joint Stock Co. has bought over 208,000 shares of Gentraco Feed Co. (GFC) to increase its shareholding from 1.1 percent to 2.4 percent.
* Bao Minh Securities Co. has become the 93rd member of the trading registration system of the Hanoi Stock Exchange.
* Construction Company No.5 (VC5) obtained VND12.2 billion in after-tax profit in 2011, a 3.8 percent year-on-year increase.
* Irving Seminar & Training Co. will organise a conference on export and import taxes on February 23 at Legend Saigon Hotel with the participation of experts from international groups.
* Song Da-Viet Due Joint Stock Company and Lilama Urban Development and Construction Investment Joint Stock Company have been approved to upgrade and expand a 3.14-kilometer section of the belt road No.3 from Mai Dich intersection to Hoa Binh Park in Hanoi City under the form of build – transfer, Vietnam news agency reports. The VND2,413 trillion project is set for completion in two years.
* Middle Airports Corporation on Wednesday put into operation a new runway at Da Nang International Airport. The upgraded runway can handle large aircraft.
* Vinamilk, the nation’s leading dairy processor, has introduced a new powdered milk product for children. The product is based on research results on nutritional status and food rations of over 50,000 children nationwide conducted by the company and the National Institute of Nutrition.
* Hanoi Building Commercial Bank (Habubank) has become the first bank to report losses in the fourth quarter last year. The bank incurred a loss of VND55.61 billion due to a huge risk provision of VND132.18 billion compared to VND76.57 billion in net profit.
* The central bank has allowed the HCM City branch of Credit Agricole Corporate and Investment Bank to conduct debt trading while Military Commercial Bank has gained approval to provide depository services.
* HSBC Bank has introduced its new Mobile Banking service that allows customers using most smartphone models to connect to their personal banking accounts.
* Bien Hoa Packaging Co. has gained approval in principle to trade 8.9 million shares on the Hochiminh Stock Exchange.
* Saigon Garment Manufacturing Trade Co. (GMC) has decided to pay 2011 second round dividend in cash for shareholders at 10 percent.
* Indochina Beverage Holdings Ltd has registered to buy over 1.2 million shares of lnterfood Shareholding Company (IFS).
* Coma 18 Company (CIG) will float an additional 1.4 million shares on the southern bourse of February 10.
* Saigon Beverages Co. (TRI) is facing a delisting order from the southern stock market watchdog as it announced a continued loss of VND48.8 billion in the last quarter of 2011, raising the accumulative loss for the whole year to VND86.7 billion.
* Phuoc Hoa Rubber Co. (PHR) is looking to obtain VND2 trillion in revenue and VND386 billion in after-tax profit in 2012.
* Vietnam Bank for Social Policies will offer three and five-year government bonds with a combined value of VND3 trillion at auction on the Hochiminh Stock Exchange on February 10.
* Viglacera Dong Trieu Co. (DTC) has announced February 9 as the ex-dividend date to issue two million shares for shareholders at the 100:81 ratio.
Category: Business