Business briefs November 17
* Ho Chi Minh Stock Exchange (STC) recently announced that December 3 will be the registration deadline for Nam Viet Joint Stock Co (coded NAV) to close the shareholder list to advance 12% dividend in cash for the year 2008 on December 25. The ex-interest date is on December 1. The Securities Depository Centre’s HCM City Branch would halt NAV-coded share deposits on December 2, 3 and 4.
* Domesco Medical Export and Import Joint Stock Co (Domesco-coded DMC) will close the shareholder list on November 28 to pay 10% dividend in cash for the first phase of 2008 (shareholder holding one share will receive 1,000 dong), according to Ho Chi Minh Stock Exchange (STC). The payment date is on December 25. The ex-interest date is on November 26.
* Hanoi Securities Trading Centre (HaSTC) recently announced that it received applications from Vung Tau Petroleum Trading and Service Joint Stock Co (Vimexco Gas) to list 9.6 million ordinary shares at 10,000 dong par on the northern bourse. The company now has a chartered capital of 96 billion dong, of which the state holds 4.69% and the remaining 95.31% belongs to the company’s shareholders.
* Coal Export Import Joint Stock Co (KTV) will offer extra 3,246,460 shares to raise its chartered capital to over 52.464 billion dong.
* Vietnam Steel Corp (VNSteel) has lowered the prices of rolled steel and ingots by 950,000 dong to 10.1-10.2 million dong and 10.4 million dong per tonne respectively. This is the second price cut since October amid the declining demand induced by the economic downturn. Other domestic producers are considering following suit.
* Vietnam Expressway Corp has opened a tender for a contract package worth about 2.5 trillion dong to build a Noi Bai-Lao Cai Expressway section connecting Hanoi and Vinh Phuc Province. Nine contractors from China, South Korea, Malaysia and Vietnam have registered for the bidding whose result will be announced within this month.
* PetroVietnam has signed a memorandum of understanding on cooperation with the Egyptian general Petroleum Corp (EGPC. The two companies will join hands to explore and exploit oil and gas in their respective countries and a third nation.
* Dak Lak Honeybee Joint Stock Co has exported about 3,200 tonnes of honey worth US$7.5 million in the first ten months of this year. The company has also exported by-products like royal jelly and bee wax.
* HCM City’s leading book distributor Fahasa has opened a bookstore in Thuan An District in Binh Duong Province, stocking more than 40,000 titles of domestic and international books.
* Vietnam National Coffee Corp has failed in a project to grow 40,000 hectares of high-grade Arabica coffee in northern provinces. deputy prime minister Nguyen Sinh Hung has ordered the Ministry of Agriculture and Rural Development to undertake an audit of the French-funded project and pinpoint reasons and those responsible for this failure.
* Nhat Huy Co’s cassava processing plant has been fined 57 million dong and asked to move fOJ discharging untreated wastewater and burying cassava waste inside the plant’s premises.
* The governor of the State Bank of Vietnam (SBV) on November 11 issued Decision No 2732/QD-NHNN, approving the plan to establish a steering committee to set up Vietnam Bank Museum. Under it, the steering committee headed by SBV’s deputy governor, Nguyen Dong Tien, would create a plan to establish a museum and submit it to the Party’s civil affairs committee and SBV’s director board.
* Tien Phong Commercial Joint Stock Bank (TienPhongBank) on November 14 inaugurated the third transaction office in Hanoi which will function as a banking transaction office. In addition, the office also signed a cooperation agreement with FPT Securities Joint Stock Co (FPTS) to provide services of receipts and expenses to investors at FPTS Securities Trading Floor.
* In order to support small and medium-size enterprises (SMEs) to deal with the problems of capital and develop business and production, Lien Viet Commercial Joint Stock Bank (LienVietBank) on November 10 launched a programme called “four trillion dong for SMEs” in key industries such as oil and gas, construction materials, exporters, seafood, agriculture materials, hydropower and consumer products.
* From November 13, ANZ Vietnam Bank announced a new deposit rate of up to 13% per year for dong deposits with flexible terms for one week to 12 months. In addition, from November 3 to December 31, 500 first customers with deposits from 500 million dong to US$30,000 will receive free ANZ Visa Debit plus 500,000 dong available in the account.
* Southern Commercial Joint Stock Bank (Southern Bank) today November 17 is to officially inaugurate Bui Thi Xuan transaction office at 170-172-172E Bui Thi Xuan, Pham Ngu Lao ward in HCM City’s Dist 1.
Sources: Thoi Bao Kinh Te Vietnam, Lao Dong, Nguoi Lao Dong, Dau Tu, Dau Tu Chung Khoan, Tuoi Tre, Tin Tuc, Nhan Dan, Vietstock, SSC, VCBS, HaSTC.
