Business Briefs February 3

03-Feb-2012 Intellasia | | 8:55 PM

* The Investment and Construction 40 Joint Stock Co (coded I40) announced to gain whole year revenue of 90 billion dong and pre-tax profit of 3.3 billion dong in 2011.

* Red River Holding has registered to buy 150,000 shares of Everpia Vietnam Co (EVE) to raise its holding from 12.2 percent to 12.9 percent.

* Dry Cell and Storage Battery Co. (PAC) has decided to buy back one million shares as treasury shares.

* SSI Asset Management Co. has acquired over 175,000 shares of Southern Seed Corporation (SSC) to spur its holdings from 7.8 percent to 9 percent.

* Prudential Balanced Fund (PRUBF1) has announced net asset value per unit by January 26 at 8,147 dong, inching 5 dong against a week earlier.

* Son Tay Urban Construction and Environment Co has gained approval to trade an additional 750,000 shares on the northern bourse.

* Mien Trung Power Investment and Development Co (SEB) has announced February 13 as the ex-dividend date to pay 2011 second round dividend in cash for shareholders at 9 percent.

* Saigon-Hanoi Fund Management Company has acquired over 282,000 shares of Saigon-Hanoi Commercial Bank (SHB) secure a 0.13 percent stake in the lender.

* Sacom Investment and Development Joint Stock Co (coded SAM) revealed suffering loss of 73.6 billion dong in Q4, raising the accumulative loss to 204 billion dong in 2011, due to sharp increase in financial costs.

* The southern bourse-listed Hoa Binh Construction and Real Estate Trading Joint Stock Co (coded HBC) released the Q4 financial reports with net revenue of 839.8 billion dong, up 45 percent against the same period of previous year, and consolidated profit of 100.3 billion dong, up 21 percent year-on-year.

* Four coal producers including Deo Nai Coal Joint Stock Co (TDN), Nui Beo Coal Joint Stock Co (NBC), Ha Tu Coal Joint Stock Co (THT) and Coc Sau Coal Joint Stock Co (TCS) released the business reports in 2011 with high profit.

* PetroVietnam Fertiliser and Chemicals Joint Stock Corp (coded DPM) released the financial reports in Q4 and the whole year of 2011, in which the net profit doubled against the same period of the previous year.

* Pomina Steel Joint Stock Co has released the 2011 business results with consumption volume in domestic markets of over 750,000 tonnes, accounting for 15.6 percent of total. The company reported exporting 97,000 tonnes of construction steel, bringing in total turnover of $69 million.

* Nguyen Cong Ly, general director of Dong Nai Roof Sheet and Construction Material Joint Stock Co (coded DCT) revealed that in 2012, the company set targets to reach whole year profit of 40 billion dong.

* The management board of Vegetable Export-Import Joint Stock Co No 1 announced to hike chartered capital from 24.5 billion dong to 28.36 billion dong via paying dividend to the existing shareholders in shares at an applied rate of 12 percent and offering 30,000 shares to strategic partners with price of 10,000 dong per share.

* The UPCoM-listed Cafico Vietnam Joint Stock Co (coded CFC) has lately released the unaudited financial reports. Accordingly, the company reported gaining total revenue of 140.2 billion dong, down 1.6 percent against that of 2010. The net profit earned from business activities was posted at 6.3 billion dong, after tax profit of 6.18 billion dong, a year-on-year decline of 42 percent.

* The management board of Gia Lai Hydropower Joint Stock Co (UPCoM-listed GHC) has approved the 2011 business results with total revenue of 105.09 billion dong, equivalent to 127 percent of the targeted year plan; after tax profit of 37.05 billion dong or 280.8 percent. The company has produced 144.19 million KWh of commercial electricity, exceeding the year plan by 19.49 percent.

* Recently, Nghiem Phu Hoan, deputy general director of Vietnam Posts and Telecommunications Group (VNPT) has indicated their intention to merger Vietnam Telecom National (VTN) with Vietnam International Telecommunication Co., (VTI) so as to give birth to a national and international telecommunication infrastructure development company. However, the finish date has remained unknown.

* Saigon Beverages Joint Stock Co (coded TRI) announced to continue suffering loss of 48.83 billion dong in Q4, raising the accumulative loss for the whole year to 86.73 billion dong.

* By the end of Q4, Dai Chau Group Joint Stock Co (HNX-listed DCS) reported gaining after tax profit of 32 billion dong, raising the accumulative profit to 121.9 billion dong

* The Ba Ria-Vung Tau Urban Development and Construction Joint Stock Co (coded UDC) released the resolution approved by management board about business results in 2011.

* Vietnamese Military-run telecom firm, Viettel, has received licence to invest in five foreign countries and currently, Vietnam Post and Telecommunication Group (VNPT) is providing telecommunications services through five subsidiaries in four countries.

* FLC Group on Tuesday inaugurated a five-floor office section with a floor area of 10,000 square meters of FLC Landmark Tower in Hanoi. Apartments in the tower will also be handed over to owners this month.

* Thai Binh Group, or TBS Group, has signed a contract worth over $50 million to produce and export 1.8 million bags this year for bag maker Coach.

* Low-cost air carrier VietJet Air started selling discounted tickets for flights on the HCM City-Hanoi route from March until late April priced at 590,000 dong.

* AirAsia will officially open the HCM City-Sydney air routes with one flight weekly from April. The carrier currently operates flights from HCM City, Hanoi and Da Nang to Kuala Lumpur, Malaysia.

* Toyota Vietnam (TMV) will give auto accessories for any customers buying Fortuner TRD Sportivo cars from now until the end of this month at TMV agents nationwide. The auto maker has opened a new authorised service centre covering 2,800 square meters in Thanh Hoa Province, raising the firm’s total number of agents and service centers nationwide to 29.

* FPT Corporation (FPT) obtained nearly 26 trillion dong in revenue and 2 trillion dong in after-tax profit last year.

* Societe De Bourbon Tay Ninh Co (SBT) obtained over 454 billion dong in after-tax profit in 2011, or 47 percent higher than last year’s target.

* Thanh Cong Textile Garment Investment Trading Co (TCM) targets to gain 2.5 trillion dong in revenue and l billion dong in after-tax profit this year, or 18 percent and 23 percent higher than last year’s results respectively.

* Song Da 6 Company (SD6) obtained 36.8 billion dong in after-tax profit in 2011, an 8.7 percent year-on-year increase.

* The State Bank of Vietnam (SBV)’s governor, Nguyen Van Binh, on December 31, 2011 issued a decision on adjusting the chartered capital in operation license of Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank-STB).

* Pjico Insurance Joint Stock Co (coded PGI) has recently reported its business performance for the fourth quarter of 2011 with net revenue of nearly 423 billion dong, up 19 percent from Q4 2010 and direct costs for insurance business in Q4 2011 increased 14 percent to reach over 225 billion dong.

* The State Bank of Vietnam (SBV)’s governor, on February 1, 2012 allowed Korean Development Bank to open its representative office in HCM City.

* Vietnam Bank for Industry and Trade has been allowed to raise chartered capital of its branch in Laos from $12.5 million to $22 million.