The Ho Chi Minh Stock Exchange (STC) today August 9 saw a record surge on the stock market when the VN Index rose by 28.16 points or 3.09% from the previous session to close at 938.21 (after 11 am) with a total matching order trade of 5,654,110 shares worth 553.056 billion dong. Similarly, the HaSTC Index today rose by 4.31 points or 1.69% to 259.06 with a total market trade of 1,332,000 shares worth 113.529 billion dong.
* PetroVietnam Insurance Co (PVI) recently announced that it would officially list 50 million shares worth 500 billion dong on August 10 and become the 88th member to list shares through Hanoi Securities Transaction Centre (HaSTC) under the decision dated August 7, 2007.
* Song Da 505 Joint Stock Co (coded S55-HaSTC) recently reported 27.2 billion dong in revenue and 805 million dong from after tax profit in the second quarter of the year.
* Petroleum Mechanical Joint Stock Co (coded PMS-STC) recently announced that it made revenue of over 56.5 billion dong and 2.4 billion dong from after-tax profit in the second quarter of 2007.
* Tan Tao Industrial Zone Joint Stock Co (coded ITA-STC) has reported its second quarter of 2007 revenue of 234.9 billion dong and 83.3 billion dong from after tax.
* Vietnam Glass and Ceramic Corp (Viglacera) on Tuesday signed a comprehensive partnership agreement in the field of finance with Vietnam Partners LLC.
* Thua Thien Hue Forestry Trading Joint Stock Co on August 24 will make its initial public offering by auctioning 120,000 shares at 10,000 dong par with a starting price of 10,500 dong each via Asia Pacific Securities Joint Stock Co, headquarters at 30 Le Loi St, the central province of Thua Thien Hue.
* Lam Dong Minerals and Building Materials Joint Stock Co (LBM) with a chartered capital of nearly 16.392 billion dong yesterday August 8 received the State Securities Commission (SSC)’s approval to offer 2.5 million ordinary shares at 10,000 dong par to the public.
* Bidv Insurance Co (BIC) today announced that it has obtained the finance ministry’s approval to raise its chartered capital to 500 billion dong from the current 200 billion dong with the aim of improving the insurer’s financial and competitive strength.
* Chu Lai-Truong Hai Automobile Co. (Thaco) has received approval to build a factory in Tam Hiep Industrial Park in the central province of Quang Nam. The 1.2 trillion dong (US$75 million) facility will be able to turn out some 10,000 units a year. The first four to seven-seat KIA and CARENS cars will roll off the line early next year and sell for between US$14,000-16,000.
* Vien Dong Investment and Trading Co. and the American Semtech Limited will set up a US$360-million joint venture to build an oil refinery in the Mekong Delta city of Can Tho. The facility’s planned capacity is two million tonnes of oil and gasoline a year, half the Mekong Delta’s demand.
* Cavico Vietnam Joint Stock Co., a local leader in bridge and tunnel construction, held its first general meeting late last week after it turned shareholder-owned. With chartered capital of 70 billion dong (US$4.4 million), the company is looking to achieve 2007 revenue of 226 billion dong, increasing 20% on last year, and an earning per share ratio of 17% in 2008 and 19% in 2009-2010.
* Saigon Commercial Bank (SCB) has been licensed to issue 1.4 trillion dong in convertible bonds this year. The bonds have a conversion term of 13 months with a combined coupon rate of 8.5%. The conversion ratio is one bond for one share with a face value of one million dong per bond. The current chartered capital of Sacombank is 1.325 trillion dong, which is expected to grow to 3.3 trillion dong in 2008.
* Vietnam Technology and Commerce Joint Stock Bank (Techcombank) yesterday August 8 reported total assets reached over 25 trillion dong in July, an increase of 900 billion dong over the end of 2006, its seven-month pre-tax profit was at 364 billion dong and revenue of 1.348 trillion dong, of which 103.6 billion dong was revenue from services and nearly 42 billion dong was revenue from international payment services in the first seven months of 2007
* A comprehensive cooperation contract to provide banking service products and develop a network of transaction units was signed on August 7 between the An Binh Commercial Bank (ABBank) and Power Co No 3 (PC3) of Electricity of Vietnam (EVN).
* The Bank for Foreign Trade of Vietnam (Vietcombank)’s Ba Dinh branch opened branch in Hanoi’s Cau Giay District on Tuesday.
Sources: Thoi Bao Kinh Te Vietnam, Tin Nhanh Chung Khoan, Phap Luat, Lao Dong, HASTC, VSE, SSC, VCBS, Vietstock.