Business briefs May 4
* STC has submitted to the government a plan to form a trading link with stock exchanges in Malaysia, Indonesia, the Philippines, Singapore and Thailand, he said, adding that the exchange is also planning to join regional and global associations.
* Last year, Vietnam National Oil and Gas Group (PetroVietnam – coded PVN) withdrew investment capital in some member companies via direct auctions and order-matching methods. Pham Thu Ha, PVN’s vice general director revealed that in 2010, PetroVietnam would restructure the investment portfolio by transferring investment capital in hands of foreign, strategic partners.
* The Co.opMart Saigon supermarket was inaugurated in Ha Dong district, Hanoi yesterday. This is the first Co.opMart Saigon in Hanoi and the 44th supermarket in the Co.op Mart supermarket chain nationwide. On an area of 7,500 square metres, the supermarket has a total investment of 74 billion dong, selling over 20,000 items of goods. 90 percent of which is domestically manufactured goods.
* Hanoi Stock Exchange (HNX)-listed PetroVietnam Insurance Joint Stock Corp (coded PVI) on April 28 in Hanoi signed an aviation insurance contract worth nearly $200 million with Vietnam Helicopter Corp (VNH).
* Vietnam National Reinsurance Joint Stock Corp (coded VNR) announced to gain Q1 reinsurance premium of about 300 billion dong, up 10.7 percent year-on-year, while net revenue from insurance services of 139.68 billion dong, increasing by 17 percent against the same period of last year.
* During the first quarter of 2010, the State Capital Investment Corp (SCIC) reached total revenue of 216 billion dong, profit of 209 billion dong and total ownership capital of 19.225 trillion dong. The figures are expected to be 1.879 trillion dong, 1.750 trillion dong and 20.182 trillion dong in the whole year.
* Royal International Joint Stock Co (coded RIC) lately released the Q1 business reports. In details, the company gained Jan-March revenue of 23.55 billion dong, increasing by 6.14 percent against the same period of last year. However, due to high cost of goods sold (COGS), the combined profit from main business activities was posted at 4.264 billion dong, compared to that of previous year of 5.991 billion dong.
* The southern bourse-listed Nam Bay Bay Investment Joint Stock Co (coded NBB) announced gaining Q1 after tax profit of about 21 billion dong, up 110 percent year-on-year, and fulfilling 19 percent of the year plan.
* Vincom Joint Stock Co (coded VIC) announced gaining Q1 after tax profit of 92.85 billion dong, increasing by 425 percent against the same period of last year. In details, the company’s net revenue in Jan-March was posted at 76.6 billion dong, up 20.38 percent year-on-year, while cost of goods sold (COGS) counted for over 15.73 billion dong and combined profit of 60.85 billion dong.
* Pomina Steel Joint Stock Co (coded POM) reported gaining after tax profit of 126.14 billion dong in Jan-March, up 18.5 percent against the same period of last year.
* Bao Minh Insurance Joint Stock Corp (coded BMI) announced to gain total after tax profit in the first three months of this year of 87 billion dong. In details, the company reported earning total insurance premium in Jan-March of 700 billion dong, fulfilling over 30 percent of the year plan, while the Q1 revenue from financial activities was estimated at over 100 billion dong.
* Cathay Vietnam Life Insurance Co announced to continue developing its insurance consultant staff in 2010 to increase the total agents of up to 7,000 units. Last year, Cathay Vietnam recruited about 5,000 insurance consultants, twice as much as that of 2008.
* Song Da Urban Investment and Development Joint Stock Co (coded SDU) planned to issue additional 10 million shares for existing shareholders in order to increase chartered capital to 200 billion dong. The total share value for this share issuance was 100 billion dong in par value. SDU planned to offer shares at price of 20,000 dong per share with applied ratio of 1:1.
* Vietnam International Commercial Joint Stock Bank (VIB) and Vinaconex Saigon Joint Stock Co recently signed factoring contract for issuing corporate bonds.
* East Asia Commercial Joint Stock Bank (DongABank-EAB) announced on May 3 that via the programme of “Loi ich nhan doi khi mua ky phieu” (double benefits offered to bill of exchange purchasers), the bank raised 1.5 trillion dong of short-term bills of exchange within the past month, from March 22 to April 28, exceeding by five times over the targets.
* Vietnam International Joint Stock Bank (VIB) lately announced to pay the second phase – 2009 dividend in cash for existing shareholders before June 30, 2010 at ratio of 2.51 percent, raising the total dividend that VIB paid to 18.52 percent. Last year, the bank reported gaining total after tax profit of 463 billion dong, compared to its current chartered capital of three trillion dong.
* Vietnam Commercial Joint Stock Bank for Foreign Trade (Vietcombank – coded VCB) officially launched the new financial services via VCB-iB@ngking channel.
