* Ho Chi Minh Stock Exchange (STC) reported that there were 39 investors including 38 domestic individuals and one foreigner registering to join the share auction of Trading Construction and Installation Joint Stock Co No 2. The total bidding order is 1,148,800 shares, in which 1,142,800 shares are bid by local investors and 6,000 shares by the foreign investor.
* An Phat Packaging and Plastic Joint Stock Co (An Phat Plastic JSC) on February 15 officially announced three new strategic shareholders before listing shares on the Hanoi Securities Transaction Centre (HaSTC) in the second quarter of 2008 and signed a comprehensive cooperation agreement with IDJ Financial Fund (IDJF). An Phat Plastic JSC’s new strategic shareholders include Deutsche Bank (DB), Sacombank Securities Co (SBSC) and Petrolimex Finance Joint Stock Corp’s Nam Dinh branch with the total volume of shares held of 500,000 shares.
* Southern Culture Joint Stock Co on February announced that its shareholders’ meeting recently passed the plan to set up five subsidiaries that were established basing on units under the Southern Culture Joint Stock Co Those are Southern Communications Joint Stock Co, Southern Stationery Trading and Producing Co, Southern Film Co basing on Southern Film Firm, Southern Printing Co basing on Southern Printing Factory and Southern Books Co basing on Copyright Service and Books Centre.
* Vietnam Post and Telecommunications Group (VNPT) is gearing up for plans to let all of its telecom subsidiaries go public. Major mobile carrier MobiFone, a subsidiary of VNPT, is seeking a consultant for its equitization plan. VNPT has so far equitized more than 40 affiliates, most of them small.
* HCM City-based infrastructure developer CII will begin in April upgrading the aging Binh Trieu Bridge connecting the city’s Binh Thanh and Thu Duc districts. The two-lane bridge will be widened to 12.65 meters to accommodate three lanes. The build-operate-transfer (BOT) project will cost a total of 74.4 billion dong, and be undertaken by France’s Freyssinet Vietnam. CII will also rebuild the deteriorating Rach Chiec Bridge linking the city and south-eastern provinces.
* Saigon-Hue Investment Joint Stock Co, a unit of Vietnam’s Saigon Invest Group, has been licensed by the central province of Thua Thien-Hue to invest over two trillion dong in two projects. One of them will develop a duty-free zone and infrastructure for an industrial park and the other to build an urban town, with both covering 1,000 hectares. Work on the projects is expected to start in mid-2008 and be completed by 2011.
* Quang Binh Shipbuilding Industry Co., a unit of Vietnam Shipbuilding Industry Group, has started work on two container vessels at Nhat Le Shipyard in Quang Binh Province on the central coast. The two ships cost a combined 305 billion dong.
* The State Bank of Vietnam (SBV) on February 15 sent announcement to commercial banks requiring these banks to buy compulsory T-bills so as to withdraw money from circulation and curb inflation. Under it, SBV issued compulsory T-bills worth 20.3 trillion dong with the term of 364 days and the coupon rate of 7.8% per annum under the issuing method of book entry and will be started the implementation from March 17, 2008.
* Vietnam Eximbank today is to increase dong deposit rates once more time whereby the interest rate plus will be 0.07% a month as compared with the previous rate benchmark. Particularly, the dong deposit rate for a term of one week was raised to 0.37% a month, one month at 0.65% a month, two months at 0.67% a month, three months at 0.73%, six months at 0.75%, 9 months at 0.76% and 12 months at 0.79% a month.
* Orient Commercial Bank (OCB) has announced to increase its saving interest rate in all terms. According to the new interest rate, dong demand saving will get monthly interest rate of 0.3%, fixed time-limit savings receiving interest rate at the end of term will get monthly interest rate of one month saving 0.62%, two-month term 0.66%, three months 0.735%, six months 0.76%, nine months 0.78%, 13 months 0.81%, 18 months 0.82% and two years 0.83%.
* DongA Bank recently announced that from February 15, it officially applied new dong deposit rate whereby the dong deposit rate will be raised by 0.03% to 0.06% per month for all terms. This is the second adjustment of DongA Bank on dong deposit rate in 2008. In particular, with the new interest rate in dong deposit, dong deposit rate is raised by 0.06% including one month term at 0.71% per month, two months 0.72%, six months 0.81% and 18 months 0.8% per month.
* The Southeast Asia Bank or SeABank recently announced that it would officially enter the Vietnam payment card market at the end of first quarter of 2008 via offering both domestic ATM card and then international card. At the same time, SeABank also carried out the e-banking service and developed technique infrastructure so as to fully develop its features and help customers approach bank’s services and products easier.
* Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) recently announced that up to the end of January 2008, it reached 157.3 billion dong from pre tax profit, increasing 158% from the same period of last year, total deposit gained 60.298 trillion dong, a 159% increase yoy, total outstanding loans obtained 40.252 trillion dong, up 157% year-on-year and its total asset increased 162% to 69.917 trillion dong.
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.