Company, bank, stock market briefs Mar 14

* Citigroup Global Market Ltd (CGML) and Citigroup Global Market Financial Products Ltd (CGMFP) recently sold 20,000 BBC-coded shares to reduce the holding rate to 961,058 shares.

* 3,393,170 DHA-coded extra shares of Hoa An Joint Stock Co will be officially traded on the Ho Chi Minh Stock Exchange (STC) on March 18.

* Ben Tre Seafood Export Import Joint Stock Co (coded ABT) posted gaining over 57.52 billion dong in revenue and over 8.81 billion dong from after tax profit in February.

* Viet Product Co (SPV) on Wednesday officially received an investment capital amount from IDG Ventures Vietnam (IDG) to strengthen trade promotion activities via the website www.vietnamb2b.com. SPV chair Huynh Van Chung said that IDG’s capital would0 be used to upgrade technical background, develop new services in order to expand the linkage between domestic and foreign firms, especially small to medium sized enterprises that now have a high demand of being connected with the world market.

* Vietnam Finance Investment Co (TigerInvest) recently signed an agreement with Japan-based East Wing Llc & East Wing Asset Management Investment Fund to seek merger and acquisition (M&A) investment portfolio and real estate trade in Vietnam. TigerInvest specialises in M&A activities and is now managing the online transaction floor www.mua-bancongty.com. In 2007, the company carried out many M&A propositions with the total value of 533.5 billion dong.

* BankInvest Investment Group and Vietnam Fan Joint Stock Co yesterday March 13 signed a strategic cooperation contract whereby BankInvest will buy 25% stake into the local producer. Accordingly, BankInvest committed to carry out concrete researches to map out the development strategy for Vietnam Fan Joint Stock Co over next five-ten-years. BankInvest will also support Vietnam Fan Joint Stock Co in building up the listing roadmap and boost comparative capacity in the domestic market.

* Listed firm Refrigeration Electrical Engineering Joint Stock Co (coded REE) recently reported that it gained 117.03 billion dong in revenue last month, a year-on-year growth of 217.81%, bringing the total profit in Jan-Feb to 1.1 trillion dong, accounting for 18.79% of the year’s plan.

* Lilama Hanoi Joint Stock Co invested construction on a trade, housing and office complex with a total investment of some 250 billion dong is expected to be built in the second quarter of this year and slated for 18 months.

* PetroVietnam has approved a project to establish Dong Nai-based Phuoc Sang Port Operation Investment Joint Stock Co The 1,500-billion dong company will develop and operate a large-scale integrated warehousing system and a petrol depot to cater to the southern economic zone. The company will also develop a complex of port and logistics facilities in Phuoc An in Dong Nai Province’s Nhon Trach District.

* Ca Mau Fertiliser-Power-Gas Project Management Unit (PMU) recently sent the Engineering-Procurement-Construction (EPC) tender package of Ca Mau fertiliser plant capitalised at US$900 million in Khanh An commune, Ca Mau province’s U Minh district to four international contractors. The plant has an estimated capacity of 800,000 tonnes of urea a year and equipped with international advanced technology.

* Binh Dinh Food Export Joint Stock Co will stop operation of its vegetable and pineapple processing plant from April 1 due to cumulative losses of up to 4.3 billion dong. Binh Dinh Province’s authorities have asked the Department of Agriculture and Rural Development and relevant agencies to mull ways to transform its operations.

* The HCM City Department of Transport and Public Works has suspended work on a water pipeline in HCM City’s District 7 carried out by Bach Dang 4 Joint Stock Co due to a construction violations on the part of the contractor.

* Work on Can Tho-based Tay Do University, which is the first privately-founded university in the Mekong Delta, began yesterday. The 60-billion dong facility in the first phase comprises 25 classrooms and lecture halls covering 4,650 square metres, and a section of administration and academic facilities covering 10,167 square metres.

* Permanent deputy prime minister Nguyen Sinh Hung recently approved the equitisation proposal of Vietnam Garment and Textile Group (Vinatex). In 2007, the group reached industrial production value of nearly 13 trillion dong, 22 trillion dong in revenue and nearly US$1.5 billion of export turnover, rising 19% from previous year. This year, the group expects its industrial production value to grow by 16%, revenue and export turnover up 17% each and the ratio of profit on chartered capital of 16%.

* Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) yesterday March 13 reported the business results in February 2008 with 145.27 billion dong from pre-tax profit, up 118% year-on-year, bringing the total figure during the first two months of this year to 302.61 billion dong. The bank also reached total deposits of 65.906 trillion dong, rising 165% against the same period of previous year, 41.054 trillion dong in outstanding loans, an increase of 151% yoy and 76.099 trillion dong in total asset, up 166% yoy.

* Western Bank recently inaugurated eight transaction offices in both the north and south including six transaction sites in Etown 2 building, Quang Trung software industrial zone, Binh Thanh district and southern provinces of Binh Duong, Vinh Long, An Giang and two trading sites in North namely one in Ba Dinh district and another in Cau Giay district, bringing the total network of the bank to 45 sites nationwide.

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