Business Briefs June 12

* Ha Tinh Book and Educational Equipment Company (HBE) has established an affiliate, HBE Education One Member Ltd Co., with total chartered capital of VND13.5 billion.

* Quang Nam Mineral Industry Corporation (MIC) is looking to obtain over VND 132 billion in revenue and VND12.5 billion in after-tax profit in 2012.

* Vietnam Bank for Social Policies failed in the sale of VND2 trillion three- and five-year government-backed bonds last Friday.

* Vietnam International Commercial Bank has registered to offload over 2.3 million shares of Post & Telecommunication Insurance Corporation (PTI), or a 5.1  percent stake in the insurer.

* Petroleum Pipeline & Tank Construction Co. (PXT) has announced June 21 as the ex-dividend date to pay 2011 second round dividend in cash for shareholders at 4 percent.

* DIC Investment and Trading Co. (DIC) has announced June 18 as the ex-dividend date for shareholders to receive 2011 dividend in cash at 10 percent and 1.5 million bonus shares at the 10:1 ratio.

* Ninh Hoa Sugar Company (NHS) will float an additional two million shares on the southern bourse on June 14.

* An Phat Securities JSC. (APG) explained its net profit jumped by 4.46 times in Q1/2012 to VND432.7 million as the company was paid back the import provision for short-term investment discount worth VND7.15 billion.

* Phong Phu Corporation No longer was no longer major shareholder of PetroVietnam Power Land JSC (PVL) from April 25 after selling 282,800 shares. Phong Phu Corporation currently holds 2,491,800 shares or 4.98 percent stake at the listed firm.

* Lilama 5 JSC. (LO5) attributed its net profit rise by 54 percent year-on-year in Q1/2012 to VND263.25 million due to its effort in completing the unfinished projects in 2011 and high revenues in Q1/2012. The firm said in a filing sent to HNX’s website.

* On April 28,2012 annual general meeting of shareholders (AGM) of Vinatrans Hanoi (VNT) approved to pay 2012 cash dividend interim at VND1,000/share.

* Hoa Phat Construction Stone Company (HPS) has set a target of obtaining VND27.7 billion in revenue and VND1.7 billion in after-tax profit, and paying a dividend for shareholders at 6.7 percent this year.

* PetroVietnam Power Engineering Consultancy JSC (PPE) attributed its loss of VND1.24 billion in Q1/2012 from a net profit of VND2.34 billion in Q1/2011 due to overall economic difficulties, the firm said in a filing sent to HNX’s website on June 7. The company also added its net profit of VND2.3 billion in Q1/2011 due to revenues from selling working site.

* Vinh Phuc Infrastructure Development Jsc (VPID), a major shareholder of Construction and Investment JSC. No 18 (L18) increased its ownership to 745,900 shares or 13.81 percent stake from June 4 after buying 79,300 shares.

* Kirin Holdings Limited has spurred its ownership in Interfood Shareholding Company (IFS) to 80.37 percent by acquiring a 23.12 percent stake from Indochina Beverage Holdings Company.

* Vinaconex-PVC Construction Investment JSC (PVV) explained its net loss of VND10.37 billion in Q1/2012 from VND1.1 billion net profit in Q1/2011 due to following reasons: 1. 45 percent on year fall in revenues in Q1/2012 (VND60.27 billion) from VND110.97 billion revenues in Q1/2011 due to overall economic difficulties 2. High construction material prices causes lower profit 3. Higher on year financial expenses ( up 163 percent).

* Truong Thanh Furniture Corporation (TIF) has announced June 19 as the ex-dividend date to issue over 6.5 million bonus shares for shareholders at the 10:2 ratio.

* Post and Telecommunication Equipment JSC. (POT) attributed its net profit decrease by 79 percent on year to VND52 million in Q1/2012 from VND 248.6 million in Q1/2011 due to overall economic difficulties. The firm said in a filing sent to HNX’s website.

* Fubon Insurance Vietnam Co. Ltd, which has branches in Hanoi and HCM City, last week opened a branch in the central city of Da Nang. The foreign invested firm entered the non-life insurance market in Vietnam four years ago.

* Quang Minh Corp has put into service SPA Port with an area of 20,000 square meters and loading capacity of 20,000 tonnes per day in Phu My Industrial Park, Ba Ria -VungTau Province

* Intel Vietnam has officially launched this year’s programme to provide computing training for communities in remote areas. Under the programme, Intel and its partners as well as volunteers will come to over 100 villages in remote areas nationwide to provide basic computing training courses for locals.

* Vina Kyoei Steel Ltd has set aside $220 million to expand its steel plant in Phu My Industrial Park, Ba Ria-Vung Tau Province, including a steel billet workshop and a steel production line with an annual capacity of 500,000 tonnes each. The project will be put into operation in early 2014.

* Giang Hua Food Trading Co. based in Long An Province has been fined VND113 million and had its operation suspended for three months for producing labels which are similar to Bien Hoa Sugar Co. labels

 

Category: Business