Company, bank, stock market briefs Feb 22
* The Hanoi Securities Transaction Centre (HaSTC) recently approved in principle for the Sara Joint Stock Co (coded SRB) to list 5.65 million shares on the northern bourse.
* The Hanoi Securities Transaction Centre (HaSTC) recently approved in principle for the Petrolimex Hai Phong Service and Transport Joint Stock Co (coded PTS) to list 1.74 million additional shares on the northern bourse.
* The Debt and Asset Trading Co (DATC) under the Ministry of Finance recently announced that it is preparing to sign cooperation agreement with the State Capital Investment Corp (SCIC) hereby DATC will repurchase bad debts and restructure administration system in State-Owned Enterprises (SOEs) under SCIC.
* Song Da 6.04 Joint Stock Co (coded S64) recently posted gaining over 22.7 billion dong in revenue and over 745 million dong from after tax profit in the fourth quarter of 2007.
* Song Da 9.06 Joint Stock Co (coded S96) recently posted gaining over 2.9 billion dong in revenue and over 474 million dong from after tax profit in the fourth quarter of 2007.
* Vinh Hoan Joint Stock Co (coded VHC) recently posted over 1.419 trillion dong in revenue last year, a decrease of 6.4% yoy, but its after tax profit increased 25% to 98.15 billion dong. The company also planed to pay at 10% dividend in cash for 2007.
* Hai Phong Paper Joint Stock Co (Hapaco coded HAP) recently reported the business result of January with 34.76 billion dong in revenue, rising 79.8% against the same period of last year and 10.083 billion dong in profit, a year-on-year increase of 310.55%. This month, Hapaco targets at 30 billion dong in revenue.
* Power Co No 1 is building a 110KV power transformer station in Vung Anh in the northern province of Ha Tinh to ensure stable power supply for manufacturers in Vung Anh Economic Zone.
* Refrigeration Electrical Engineering Corp (coded REE) reported a decline in profit in January due to a fall in its financial investment. The company obtained 89.7 billion dong in revenue and 17.5 billion dong in pre-tax profit, or equivalent to 115.4% and 19.28% of the respective figures in the same period last year. REE targets 1.1 trillion dong in revenue and 420 billion dong in profit this year.
* Dong Thap Housing and Industrial Park Development Co has just started work on a wastewater treatment plant in A1 Sadec Industrial Park in the Mekong Delta province. The biotechnology facility, with a daily treatment capacity of 1,500 cubic metres, requires total investment of eight billion dong.
* The fast food giant KFC will soon open a KFC restaurant in Hanoi in a ceremony to be attended by KFC president David Novak, who will arrive in Vietnam tomorrow for the event. KFC has so far opened 41 fast food restaurants in Vietnam since it first presence in 1997, and the group plans to raise the number to 100 by 2010.
* Van Loi Steel will today break ground for an iron ore grinding and screening plant in Vung Ang Economic Zone in Ha Tinh Province. The factory, with a capacity of 500,000 tonnes a year, costs 185 billion dong, and will be commissioned in June this year.
* Vietnam International Commercial Joint Stock Bank (VIB Bank) announced that from today February 21 it is to officially raise dong deposit interest rate for all businesses nationwide and being the second deposit interest rate adjustment within this month. The first adjustment was carried out on February 1. According to the new interest rate benchmark, dong deposit interest rates are raised by between 0.6% and 1.8% per annum. In particular, dong deposit rates will get yearly interest rates of at 10.2% for three-month term, six months at 10.32%, nine months at 10.38% and one year at 10.5%.
* Kien Long Commercial Joint Stock Bank (Kienlong Bank) recently officially inaugurated its branch in the northern province of Hai Phong so as to bring Kienlong Bank to be one modern multi purpose commercial joint stock bank and have competitive capacity with foreign financial institutions.
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
