Business Briefs May 22

22-May-2012 Intellasia | | 1:41 PM Print This Post

* Vietinbank or Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG) on May 17 got approval from Singapore Stock Exchange (SGX) to list $250 million worth of international bonds on the bourse. The five-year bonds have a fixed coupon of 8 percent per annum which will be paid every six months. The issuing date is May 17, 2012 and the maturity date is May 17, 2017.

* Water Supply Sewerage Construction and Investment Co (VSI) has announced May 29 as the ex-dividend date for shareholders to receive 2011 dividend in cash at 15 percent.

* Wareham Group Limited has bought 100,000 shares of Binh Chanh Construction Investment Share holding Co. (BCI) to secure a 5.1  percent stake in the enterprise.

* Vietnam Rubber Industry Group has acquired over 478,000 shares of Ben Thanh Rubber Co. (BRC) to spur its ownership from 9.6 percent to 15.4 percent.

* Hoa Phat Group (HPG) has registered to sell over 4.2 million treasury shares within three months from May 23.

* A new worry has been raised that the capital flow to the stock market would be blocked when the watchdog agency releases a new circular on the organisation and operation of securities companies.

* FPT Corp (FPT) obtained VND7.8 trillion in revenue and VND755 billion in profit in the first four months of this year.

* Vietnam Holding Limited has registered to buy 800,000 shares of Vietnam Container Shipping Co. (VSC) within two months from May 23.

* Vietnam Construction Company No.2 (VC2) has been allowed to trade an additional four million shares on the northern bourse.

* Saigon Cable Corporation (CSG), wSTC chair is CEO Do Van Trac of Sacom Development and Investment Corporation (SAM), sold its all 92,780 shares by May 21 to restructure portfolios.

* Foreigners extended their position of net sellers on the primary bourse STC for the sixth consecutive day and net buyers on HNX bourse for the fourth straight day today. Level of participation continued falling.

* Danang Housing Investment and Development Co (NDN) targets to 0 btain VND270 billion in revenues, VND 17.8 billion in after-tax profits and pay dividend for shareholders at 14 percent this year.

* Viet-Han Investment and Production JSC. (VHG) explained the late disclosure on its 2012 Annual general Meeting (AGM)’s resolution as follows: The firm attributed the late disclosure to the holidays of April 30 and May 1 with the mistake of record department.

* Vinaconex Transport JSC.(VCV) posted a net loss of VND3 billion on revenue of VND13.3 billion in Q1/2012, the firm said in its financial statements posted on HNX’s website. The firm had total assets of VND258.7 billion at the end of quarter, against VND252.7 billion at the beginning of this year.

* Sea and Air Freight International (SFI) targets a net profit of VND22.5 billion on revenue of VND150 billion in 2012, it said in the resolution of its 2012 annual general meeting (AGM) on May 19. The company aims to pay 2012 dividend at equivalent to VND1,500/share, the same as in 2011. In 2011, the STC listed firm posted VND21 billion net profit on VND143 billion revenue.

* Tan Binh Import – Export Joint Stock Corporation (TIX) explained an 85.9 percent on year in decrease in its net profit to VND7.6 billion in the second quarter of the fiscal year ending on September 30, 2012 as follows: The company attributed its net profit fall to rising prices, and the difficulties in real estate market leading to no earnings in the field in the period.

* VNDirect Securities Company has established a branch in Can Tho City.

* Transforwarding Warehousing Co. (TMS) has announced May 28 as the ex-dividend date to issue over 913,000 shares for shareholders at the 20:1 ratio.

* Saigon Shoes JSC (SSF) targets a profit of VND6 billion on revenue of VND115 billion in 2012, it said in the resolution of its 2012 annual general meeting (AGM). The company aims to pay 2012 dividend at equivalent to VND1,800/share, the same as in 2011. In 2011, the STC listed firm posted VND4.8 billion profit on VND105.7 billion revenue.

* Alstom Group, a France- based electricity and railway infrastructure  facilities company has signed an agreement with Vietnam Electricity Group (EVN) to establish Alstom – Phu My Energy Services Joint Venture to operate a gas turbine repair centre in Phu My Electricity Centre, Ba Ria-Vung Tau Province.

* Thuy Son Joint Stock Co. will receive non-refundable aid of over VND3 billion from the Global Competitiveness Facility for Vietnamese enterprises CGCF) sponsored by the Danish government to plant acacia in an area of nearly 1,500 hectares in coastal provinces in the Mekong Delta. The firm will provide seedlings, fertilisers and cultivating techniques for farmers and then buy the wood at VND850,000 per tonne. The wood pulp will be exported to China, South Korea and Denmark.

* CNC-BOT Construction Investment Co. last Saturday began construction of the My Luong-Tan My bridge project in Cho Moi District, An Giang Province. With investment of VND97 billion, the project will facilitate the transportation between communes and My Luong Town in the district and be completed within two years.

* Hanoi Real Estate and Designing Consulting Co and SVA Financial Group last Saturday officially started work on the Dan-Nui Coc Lake road with investment of over VND 1 trillion. Stretching 13 kilometers to connect Thai Nguyen City with Nui Coc Lake Tourism Area, the road is scheduled for completion in 2015.

* Hao Hung Co. has started constructing a specialised wharf for Dung Quat Economic Zone in Quang Ngai Province. Covering 23 hectares, the VND711.6 billion wharf can handle ships of 30,000 to 50,000 dwt and will be put into operation in the first quarter of 2014.

* Asia Commercial Bank has introduced ACB-Citimart Visa Prepaid card by upgrading ACB-Citimart Visa Electron product, allowing payments at all points-of-sale with Visa symbol. Card- holders will enjoy discounts from 5-10 percent at Citimart supermarkets.

* Bank for Investment and Development of Vietnam has gained approval to add over $21 million to Laos-Vietnam Joint Venture Bank, spurring the chartered capital of the latter to $70 million.

* The State Bank of Vietnam (SBV) may abolish both caps for deposit and lending interest rates in early June, the local media VnExpress.net quoted Tran Hoang Ngan, member of the National Advisory Council for Financial and Monetary Policies, as saying.

 


Category: Business

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