Business Briefs March 8

08-Mar-2012 Intellasia | | 9:09 PM

* The management board of Global Electrical Technology Joint Stock Co (HNX-listed GLT) has approved for paying 2011 dividend in cash at the rate of 30 percent.

* Temasek Holdings has sold 21.9 million shares of Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank-STB), equalling to 2.04 percent stake in the local bank, according to the local newspaper Dau Tu Chung Khoan.

* Vietnam Securities Depository Centre (VSD) announced that three listed companies would pay dividend for existing shareholders and hold their annual general meeting (AGM).

* The management board of PetroVietnam Drilling and Well Services Joint Stock Corp (coded PVD) has lately approved for issuing international corporate bonds worth $120 million with terms of five years, seven years or 10 years.

* Hochiminh Stock Exchange (STC) released the decision on March 7, 2012 approving for Hoa Phat Group Joint Stock Co (coded HPG) to list additional shares on the southern bourse.

* The southern bourse-listed Tuong An Vegetable Oil Joint Stock Co (coded TAC) announced to set March 26 as the ex-dividend session for purposes of paying dividend and holding the annual general meeting. The dividend would be paid in cash at 16 percent from May 11, 2012 while the meeting was supposed to be held on April 27.

* The UPCoM-listed Can Tho Ferry Bridge Standage Joint Stock Co (coded HPL) announced to close the shareholders list on March 15, 2012 for holding the annual general meeting (AGM) and paying 2011 dividend-the second round.

* Bien Hoa Packaging Company (SVI) will begin trading 8.9 million shares on the Hochiminh Stock Exchange on March 12 at the reference price of 18,700 dong each.

* PXP Vietnam Fund Limited has registered to sell 288,000 shares of Binh Duong Mineral and Construction Co. (KSB).

* Savimex Corporation (SAV) has announced March 12 as the ex-dividend date for shareholders to receive 2011 dividend in cash at 7 percent.

* Vietnam Securities Investment Fund (VFMVFl) has announced its net asset value per unit by March 1 at 15,144 dong, rising by 229 dong from a week earlier.

* Sana WMT Joint Venture Co (ASA) will begin trading three million shares on the Hanoi Stock Exchange on March 12 at the reference price of 11,000 dong each.

* Song Da Cement Co (SCC) and Viet Star Securities Corp. (SVS) were put under surveillance yesterday as their audited financial statements show they have racked up losses for two years in a row.

* Hong Phat Construction Investment Co (HPR) has announced March 13 as the ex-dividend date to pay 2011 dividend in cash for shareholders at 25 percent.

* DongA Securities Co. will buy 150,000 shares of West Coach Station Co (WCS) from today to March 20.

* Saigon Plastic Packaging Co (SPP) has announced March 14 as the ex-dividend date for shareholders to receive 2011 first round dividend in cash at 5 percent.

* The northern bourse-listed Cho Lon Real Estate Joint Stock Co (coded RCL) released the business results for Q4 and for the whole year of 2011.

* Nam Mu Hydropower Joint Stock Co (coded HJS) has released the 2011 reviewed financial reports with net profit of 13.3 billion dong, 2.8 times higher than the previous year. However, the company has only fulfilled 77 percent of the targeted year plan.

* Rang Dong Plastic Joint Stock Co (coded RDP) announced to hold the annual general meeting (AGM) on March 10, 2012 to seek approval among the shareholders about 2012 targeted year plan. This year, the company aims to obtain whole year revenue of 922.4 billion dong, pre-tax profit of 26.5 billion dong, increasing by 14.3 percent and 10.3 percent respectively against the previous year. The plastic firm also plans to pay dividend at 10 percent ratio.

* Quang Ngai Sugar Joint Stock Co (Quasuco) has recently released the 2011 audited business reports with revenue from sales and services of 4.152 trillion dong, increasing by 57 percent against the previous year, while after tax profit of 578.44 billion dong, up 135.9 percent year-on-year, equivalent to EPS of 20,570 dong.

* Vietnam National Oil and Gas Group (PetroVietnam-PVN) has revealed its business and production plan for 2012 with an expectation of 726 trillion dong revenue, up 7.5 percent against 2011′s actualised figure and exceeding 10 percent over the plan assigned by the government.

* In the first quarter of the 2012 fiscal year (from October 1, 2011 to December 31, 2011), Vietnam Fumigation Joint Stock Co (coded VFG) reported gaining net profit of 24.4 billion dong, increasing by 11 percent against the same period of previous year.

* Tay Do Leather Joint Stock Co (UPCoM-listed TDL) has held the annual general meeting (AGM) to seek approval among the shareholders about the company’s targeted year plan. In 2012, the company aimed to obtain net profit of 2.5 billion dong, declining by 50 percent against the previous year and pay dividend at 9 percent ratio.

* Best Western International Group yesterday signed the cooperation agreement with Khang Linh Real Estate Co, the main investor of the five-star tourism and resort complex of Oceanami. The signing ceremony took place in Phuoc Hai Town, Dat Do Dist, Ba Ria-Vung Tau province.

* Viet Tiger Technology Joint Stock Company has unveiled anti-theft devices for motorcycles under the brand S-Box. The newly-launched anti-theft device has signature features such as GMS cell ID technology which can identify vehicles in case they are out of sight, monitoring and identifying motorcycle position via mobile phones, reporting vehicle location via Google Map link and calling vehicle owners.

* Under Global Trade Finance Programme, International Finance Corporation, or IFC, has announced it will increase trade finance support for Vietnam International Bank (VIB) to $50 million from last year’s $30 million given effective disbursement and the positive financial situation of the bank.

* Vietnamnay E-commerce Joint Stock Company has launched website Vietnamay.com in a bid to help local firms open online stores on the site. The company has pumped 7 billion dong into the database and website infrastructure and it plans to invest an additional 7 billion dong in upgrading and managing the network system this yearto lure more enterprises to its site.

* Bank for Investment and Development of Vietnam (BIDV) on March 6 signed a contract with Ernst & Young (E&Y) Vietnam Ltd Co in Hanoi to build a credit management framework from Third Rural Finance Project (TRFP) financed by the World Bank (WB).

* On March 8, Bank for Investment and Development of Vietnam (BIDV)’s first shareholders’ meeting will be organised. BIDV’s leader said that procedures to transfer into a public company, deposit and list shares on the stock market will be conducted with an aim to list BIDV’s shares on Hochiminh Stock Exchange (STC) on June 26, 2012 as committed when the lender made its IPO (initial public offering).

* Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has recently reported its consolidated business performance in the fiscal year 2011 whereby the lender’s un-audited pre tax profit was 4.203 trillion dong, rising 53.18 percent from 2010.

* As reported by the State Treasury, till the end of February 2012, it has raised total over 18.55 trillion dong for the State Budget and development investments, equivalent to 18.55 percent of the assigned plan.

* Lien Viet Post Commercial Joint Stock Bank (LienVietPostBank) yesterday March 7, 2012 announced its decision to reduce the lending interest rate in dong.

* The central bank has allowed Military Commercial Bank to increase its chartered capital from 9 trillion dong to 10 trillion dong.