Business Briefs May 25, 2017

25-May-2017 Intellasia | | 4:24 PM Print This Post

* Thanh Nam Group Company (TNI) will float 21 million shares on the Hochiminh Stock Exchange on May 29 at the reference price of VNDI0,900 each.

Founded in 2004, TNI is active in steel, stainless steel trading and metal processing services. In 2016, TNI saw its revenue slumping 45 percent from the year earlier at

VND709 billion but its profit rose 15.4 percent to VND12.7 billion due to a sharp fall in costs. This year, the firm looks to attain revenue of VNDI trillion andafter-tax profit ofVND20 billion.

* LienVietPostBank yesterday approved a VND 500billion investment to buy bonds issued by Saigon Thuong Tin Real

Estate Company (SCR). The debt comes with a term of 42 months.

* City Auto Company (CTF) will debut on theHCMCitymarket on May 30, offering 18 million shares at the reference

price of VND12,OOO each. As an authorised dealer of FordVietnam, CTF has chartered capital of VND180 billion with 58.33 percent

of it owned by New City Group,   a the distributor of Land Rover, Jaguar, Maserati and Volkswagen car brands inVietnam. In the first quarter of 2017, CTF got

.VND806.6 billion in revenue and VND1.9 billion in after-tax profit,up 9.1  percent and down 54.4 percent year-on- year respectively.

* Mobile World Investment Corporation (MWG) released its preliminary results in the first four months of 2017, with revenue growing 62 percent year- on-year at VND20.7 trillion, and after-tax profit soaring 30 percent at VND723 billion. These results were driven by solid same-store- sales growth, aggressive store openings, contribution of stores opened in 2016 and 92 percent growth in online sales. Between January and April, MWG opened 50 new ‘I’h eg io’i did o ng mobile phone

shops and 102 new DienmayX- ANH home appliance stores, bringing the total to around 1,000 and 358 respectively, said Viet Capital Securities Company.

* The Hanoi Stock Exchange has issued regulations to classify enterprises listed on the market for unlisted public firms, or UPCoM, to help investors keep track of business quality. There will be the UPCoM Large table with enterprises having equity from VNDI trillion, the UPCoM Medium with firms having equity

from VND300 billion to less than VNDI trillion and the UPCoM Small with those from V DI0 billion to below VND300 billion. The tables will also have their

own indexes.

 


Category: Business, Vietnam

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