Business briefs March 05
* March 16 would be the registration deadline for Vietnam National Reinsurance Joint Stock Corp (Vinare-coded VNR) to close the shareholder book to pay 8% dividend in cash for the second phase of 2008, equalling to 800 dong per share, according to the Securities Depository Centre. The ex-interest date is on March 12. The payment date is on April 27.
* The Securities Depository Centre recently said that March 16 would be the registration deadline for Gia Lai Tourism and Culture Joint Stock Co (coded CTC) to close the list of shareholders to pay 6% dividend in cash for the second phase of 2008, equalling to 600 dong per share. The ex-interest date is on March 12. The payment date is on April 15.
* Binh Dinh Mineral Joint Stock Co (coded BMC) recently announced that majority shareholder-Binh Dinh Production, Investment Service and Import Export Corp (Pisico), finished selling nearly 500,000 BMC-coded shares, reducing the Pisico’s holding into BMC to 2,434,566 shares or 29.46% stake. Before the transaction, Pisico held 2,924,566 BMC-coded shares, equalling a 35.39% stake.
* Phuoc Hoa Rubber Joint Stock Co (Phuruco)’s shareholder meeting on March 3 passed this year’s performance guidance of 700 billion dong revenue, 175 billion dong in net profit, and pay a 12% dividend. In FY 2008, the company reported one trillion dong revenue, 389 billion dong profit and an EPS of 3,492 dong per share.
* Lilama Hanoi Joint Stock Co recently began construction on a high-class complex of trade centre, office for lease and apartments at No 52 Linh Nam, Mai Dong ward in Hanoi’s Hoang Mai Dist. Covering an area of 7,596 hectare, the project capitalised at 450 billion dong is expected to be commissioned by the second quarter of 2011.
* International Construction Investment and Trading Joint Stock Co (ICT) reported that last year it reached 474 billion dong in total production value, up 28.45% against 2007, total asset of 563.041 billion dong, growing 20.04% y-o-y.
* Hoa Binh Joint Stock Co publicised the audited financial report of 2008 with total revenue of 318.748 billion dong, a year-on-year growth of 64.2%, after-tax profit of 34.583 billion dong, a 3.4 fold increase from 2007.
* Intresco Housing Trade and Investment Joint Stock Co (Intresco) has publicised the 2008 fiscal report with the revenue of 560.22 trillion dong and after-tax profit of 78.58 billion dong, plunging 36.96% and 41.77% compared with the previous year.
* Vietnam Petroleum Transport Joint Stock Co (VIPCO-coded VIP)’s shareholder meeting held on March 4 passed a plan to buy a 47,000 dwt tanker and another 18,000 dwt unit (with a total investment capital of US$16.5 million).
* Hung Phat Joint Stock Co has inaugurated a brick plant using tunnel kilns with an annual capacity of 15 million bricks worth 21 billion dong in the Central Highlands province of Kon Turn. The company plans to double the plant’s capacity by adding a 15 billion dong production line to supply the Central Highlands and southern Laos.
* Setia Becamex Joint Stock Co is preparing to begin work on the US$620 million EcoLakes ecological township project on 226 hectares in Ben Cat District’s My Phuoc Town in the second quarter of this year. The first phase of the project, consisting of apartment buildings and villas, is scheduled for completion by 2012, while the second phase will be carried out in 2012-2015.
* Bao Tin Shipbuilding Co has joined forces with Hai Minh Co under the national defense ministry to start building a multi-function oil-collecting ship for oil spills and sea salvages for the southern branch of the National Agencyfor Stopping Oil Spills of Vietnam’s oil and gas giant PetroVietnam.
* Tan Thuan Industrial Promotion Co has broken ground for a resettlement project in Binh Chanh Disttict. The resettlement is part of a larger project to offer 11,000 condos to resettled families.
* Investment and Development for Underground Space Corp, owner of the first underground car-park project in Vietnam planned to be built under District l’s Le Van Tam Park, has announced that the cost of the project will be about two trillion dong, nearly triple the original estimate presented five years ago. Work on the project will start in June.
* Vietnam Post and Telecommunications Group, or VNPT, is in talks with its Singaporean partner Proto Start to use the orbit of 107 degrees east, one of three orbits that VNPT registered for last year, for the launching of Vietnam’s second satellite, VINASAT 2,
* State Bank of Vietnam’s governor on March 4 released the Official Letter No 1474/NHNN-CNH approving Vietnam Export Import Joint Stock Commercial Bank (Eximbank) to open Tan Son Nhat Branch in HCM City.
* Vietnam Joint Stock Bank for Foreign Trade (Vietcombank) today March 4 launched the special dong saving programme for institutional customers. With new programme, institutional customers having 12-month deposits can withdraw money prematurely after three months from sending at the bank.
* Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) has stepped deeper into the gold business field as opening a high-class jewellery shop. The SBJ shop managed by Sacombank Jewellery Co is to be inaugurated today March 5, 2009 in HCM City.
* From March 3, HCM City Housing Development Commercial Joint Stock Bank or HDBank raised the gold saving rate by 0.3-0.4% pa depending on each term, which was applied on its whole network. In particular, gold deposit rate with a term of one-month is 2.2% pa, two months at 2.7% pa, three months at 3.2% pa, six months at 3.4% pa, nine months at 3.6% pa. The highest level climbed to 3.7% pa as for terms of 12, 18 and 24 months.
* Oriental Commercial Joint Stock Bank (OCB) recently said that from March 4 it officially hiked gold saving rate in all terms throughout its network with an average increase of by 0.2% per annum. In particular, the bank’s gold deposit rate will be raised to 1.7% per annum for one-month term, two months at 2.0%, three months at 2.7%, six months at 2.9%, nine months at 3.1% and 12 months at 3.5% per annum.
* From March 5, Mekong Delta Housing Development Commercial Joint Stock Bank (MHB) is to officially issue bill of exchange in dong with the total value of two trillion dong for the first tranche of 2009 throughout its network. Accordingly, MHB’s all individual and institutional customers can buy the bank’s bill of exchange that will be issued in dong under the book entry method with many terms and attractive coupon rates.
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.
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