Company, bank, stock market briefs Aug 29

* The State Securities Commission (SSC) on August 28 issued a Decision No 37/UBCK-GP granting establishment and operation license to Saigon Fund Management Joint Stock Co (Saigon Capital).

* The Ho Chi Minh Stock Exchange (STC) on August 28 approved the Construction Joint Stock Co No 5 (coded SC5) to list 1.72 million more shares at 10,000 dong par worth 17.2 billion dong on the southern bourse. These shares were issued to pay the 20% dividend for 2007.

* The Ho Chi Minh Stock Exchange (STC) will hold an auction for 1.55 million ordinary shares at 10,000 dong par of Irrigation Construction Corp No 4 on September 19 with the initial price of 10,500 dong per share.

* Hanoi Securities Trading Centre (HASTC) yesterday held a tender for corporate bonds of Vietnam Expressway Investment and Development Co (VEC). There were three members joining the tender with the total bidding volume of 850 billion dong, a 1.7 fold increase over the bond offering with the highest bidding coupon rate of 21% a year, lowest at 15.98%. The finance ministry’s allowable ceiling rate is 16% per annum.

* September 15 is the registration deadline for Hoa Phat Group Joint Stock Co (coded HPG) to close the shareholders list to advance a dividend of 10% in cash for 2008, according to the Ho Chi Minh Stock Exchange (STC). The ex-interest date is September 11 and the payment date on September 29.

* Grinling International Ltd registered to sell their all three million TLC shares (equalling to 30.906%) of Thang Long Telecom Joint Stock Co (coded TLC) from August 29 to September 29, 2008. According to the business results of the second quarter of 2008, TLC posted 94.585 billion dong in net revenue from sales and service provision, up 149.73% or 56.71 billion dong against the previous quarter, and a loss of 14.478 billion dong. Thus, in Jan-June, the firm’s net revenue reached 112.26 billion dong while its profit was 6.063 billion dong.

* Hanoi Securities Trading Centre (HASTC) announced that September 10 is the registration deadline to close the list of shareholders for Viglacera Ba Hien Joint Stock Co (coded BHV) to advance the 9% dividend in cash for the first phase of 2008.

* Underground Work Construction Joint Stock Co (coded CTN) reported that Cavico Vietnam Ltd Co registered to buy 281,800 CTN coded shares between August 29 and September 29 under the method of matching order and negotiation.

* Toyota East Saigon Joint Stock Co (Tesc) recently announced it would pay the 25% dividend for 2008. Last year, the company made a revenue of over 1.1 trillion dong, increasing over 40% from 2005 and 2006 and nearly 100% against 2004 and over 21 billion dong from pre tax profit.

* Hai Phong Cement Transport and Trading Joint Stock Co (coded HCT) with a chartered capital of over 10.415 billion dong was licensed to offer 1,041,558 ordinary shares at 10,000 dong par to the public. Of which, Vietnam Cement Industry Corp registered to buy 543,020 shares and the remaining 498,538 shares will be offered to the public with the price of 20,000 dong per share.

* Vinh Hue Paper Joint Stock Co has spent 4.6 billion dong to build a pulp processing factory in the Central Highlands province of Dak Nong. The factory has annual capacity of 3,000 tonnes of pulp and 2,000 tonnes of paper.

* T&J Trade Co, Ltd has lost business license to build a food canning facility and a footwear factory worth US$5 million in Dai Nghia Industrial Park in the central province of Quang Nam as local authorities decided to cancel out the project due to the long delay.

* Tan Tao Investment & Industry Corp has received nod from the government to build two 1,200MW power plants Kien Luong 1 and 2 that are expected for commissioning in 2013-2014 and 2015-2016, respectively. The company is also seeking approval to develop Nam Du deep-water port in the Mekong Delta province of Kien Giang.

* Vietnam-Germany Steel Pipe Joint Stock Co (VG Pipe ) has finished and put into operation phase 2 of its steel pipe factory in the northern province of Vinh Phuc. The facility worth US$16 million will raise total capacity of the factory to 350,000 tonnes a year.

* Dai-ichi Life Vietnam on Wednesday inaugurated its new office in Bac Giang in an effort to provide life insurance services and products to clients in the northern province seen as an area of big potential for the life insurer.

* PetroVietnam Insurance Corp (coded PVI) recently reported gaining two trillion dong in revenue during the first eight months of the year, equalling to 76.92% of the year’s plan.

* Saigon Thuong Tin Commercial Joint Stock Bank (STC coded STB) announced that its shareholder Toan Thinh Phat Investment, Architecture and Construction Joint Stock Co registered to sell 200,000 STB coded shares between September 3 and 5, 2008.

* Saigon Commercial Joint Stock Bank (SCB) recently announced its plan of increasing chartered capital within two phases.
Particularly, in the first phase, the bank’s capital will be hiked to over 2.18 trillion dong from the current of 1.97 trillion dong.

* From September 1, Vietnam Technological and Commercial Bank (Techcombank) is to launch two saving products including Flexible Saving and Robust Saving allowing customers to register deadline of adjusting regular interest rates based on the bank’s reality interest rate at that time.

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.

 

Category: Stocks