Business briefs February 20
* The State Securities Commission (SSC) recently approved Ba Ria-Vung Tau Water Supply Joint Stock Co (Bwaco) to offer three million ordinary shares at 10,000 dong par to the public. Of which, the company would issue 2.46 million shares to the existing shareholders and the remaining 540,000 shares will be sold to the company’s employees.
* The State Securities Commission (SSC) recently approved Gentraco Joint Stock Co to offer 881,120 ordinary shares at 10,000 dong par to the public under the consultancy of the Bank for Foreign Trade of Vietnam’s (Vietcombank) Securities Co Particularly, Gentraco would offer 705,804 shares to the existing shareholders, 134,343 others will be sold to shareholders who have the buying rights with the price of 34,000 dong per share and the remaining 40,973 shares will be allocated to the company’s employees.
* Ho Chi Minh Stock Exchange (STC) recently gave its approval to the listed firm Tan Tao Investment and Industry Joint Stock Corp (coded ITA) to list extra 3,662,183 shares worth over 36.62 billion dong on the bourse. These are bonus shares issued to the employees in 2007.
* Hanoi Securities Trading Centre (HaSTC) recently announced that on February 27 it would hold a tender for one trillion dong of G-bonds issued by the Vietnam Development Bank (VDB) for the third tranche of February 2009 on the northern bourse. These bonds including five year and ten-year term bonds will be issued on March 3 under the book entry method.
* Hanoi Securities Trading Centre will organise a tender for the government-underwritten bonds of Vietnam Social Policy Bank on February 25, 2009. The bonds have a term of two-years with the bidding value of two trillion dong, which will be issued on February 27 for the first phase of 2009 under the book entry method and can be redeemed on February 27, 2011. The bonds will be listed on the northern bourse.
* The Securities Depository Centre recently said that March 10 would be the registration deadline for northern bourse-listed Sai Son Cement Joint Stock Co (coded SCJ) to close the shareholder list to pay 11% dividend in cash for the second phase of 2008, equalling to 1,100 dong per share. The payment date is on April 20.
* Can Tho Agricultural Technique and Materials Joint Stock Co (TSC) will lower the profit and revenue targets by over 30% against 2008 but still maintain the dividend plan of 32%.
Particularly, the firm targets to reach two trillion dong of net revenue from sales, 48 billion dong in after-tax profit, down 32% and 37% respectively from 2008.
* Southern Food Corp or VinaFood 2 received the investment assignment on building the Thot Not rice wholesale market worth total 600 billion dong (against the initial estimation of over 141 billion dong in 2003) in Can Tho City.
* The People Committee of the northern province of Bac Ninh yesterday on February 19 granted an investment license to Singapore-based Mapletree Investments Pte, Ltd (Mapletree) to build an international warehouse with a total investment capital of US$115 million in VSIP Bac Ninh Industrial Zone. This marks the Mapletree’s third warehouse in Vietnam and the first one in the North.
* ViKyno & Vinappro Go. Ltd, a merged entity between VietnamPower Products Manufacturing Co Ltd, Vinappro, and Southern Agriculture Machinery Co, ViKyno, is striving to produce over 1,000 diesel engines and 600 tillers worth 45 billion dong, a 6% year-on-year increase, for the domestic market and for export this month.
* Saigon Garment Manufacturing Joint Stock Co beat other domestic, Thai and Chinese bidders to win a contract worth over US$1 million to provide France’s Decathlon Group with 100,000 jackets. A part of the order will be delivered in June. Saigon Garment Co last year won three contracts online worth over US$1.5 million.
* Minh Viet Investment Joint Stock Co has begun work on the Triton Towers project worth over US$145 million, consisting of three 45-story towers including offices and apartments and covering 1. 7 hectares in Bac An Khanh New Urban Area. The project, once operational by the second quarter of 2011, will be managed by the US’s Coldwell Banker Real Estate LLC.
* Petrolimex Gasoline Commercial Joint Stock Bank (PG Bank) on February 19 officially inaugurated Hai Duong branch in the Northern Province of Hai Duong, bringing the bank’s total network to 31 sites. Up to the end of 2008, PG Bank posted 6.23 trillion dong in total assets, 94 billion dong in pre tax profit, equalling to the ratio of profit on chartered capital of 18%.
* The Bank for Foreign Trade of Vietnam (Vietcombank) yesterday February 19 signed a US$44 million credit contract in Hanoi with Indochina Land to invest in the Indochina Plaza Hanoi project.
The project located at No 239 Xuan Thuy St in Hanoi’s Cau Giay Dist has a total investment capital of US$145 million. This is the third big contract between Vietcombank and Indochina Land after two projects namely The Nam Hai high-class resort area project in the central province of Quang Nam and Indochina Riverside Towers project in Da Nang.
* Dao Trong Khanh, Tien Phong Commercial Joint Stock Bank’s (Tien Phong Bank) general director recently said that his bank targets to earn 150 billion dong profit in 2009. Ending the year 2008, after six months of operations, Tien Phong Bank posted 68.5 billion dong in after tax profit, 2.5 trillion dong in total assets and 300 billion dong in total outstanding loans.
Sources: Thoi Bao Kinh Te Vietnam, Lao Dong, Nguoi Lao Dong, Dau Tu, Dau Tu Chung Khoan, Tuoi Tre, Thanh Nien, Tin Tuc, Nhan Dan, Vietstock, SSC, VCBS, HaSTC.
