Company, bank, stock market briefs May 12
Source: 12/May/2008 Intellasia
May 12, 2008 - 12:03:02 PM * The State Securities Commission (SSC) on May 8 granted establishment and business license for Saigon Tourist Securities Joint Stock Co (STSC) with a chartered capital of 290 billion dong.

* Vinpearl Tourism and Trading Joint Stock Co (Vinpearl JSC) reported that on May 6, it issued separately 500 billion dong in three-year bonds and another 500 billion dong in five year bonds for the first phase of 2008.

* Bien Hoa Confectionary Joint Stock Corp (Bibica) recently announced the business result in the first quarter of this year with 132.16 billion dong in total revenue or 20.9% of the year's plan, over 8.1 billion dong from pre tax profit and nearly 6.4 billion dong from after tax profit, equalling to 13.6% of the year's target.

* Vietnam Insurance Corp (Bao Viet)'s Fund Management Ltd Co (Bao Viet Fund) recently released its 2007 brief fiscal report with nearly 76.45 billion dong in total assets, of which fixed assets was over 3.103 billion dong and over 28.66 billion dong in ownership capital and its chartered capital was 25 billion dong.

* Vincom Hai Phong Joint Stock Co (Vincom HP JSC) on May 10 started the construction on Vincom Plaza at No 4 Le Thanh Tong St, Hai Phong City's Ngo Quyen Dist with a total investment cost of 1.4 trillion dong.

* An Phu Thinh Tourism and Construction Investment Development JSC received the license from Binh Dinh provincial People's Committee to invest 1.15 trillion dong in the project of building an urban area in the locality.

* Special Aquatic Products Joint-Stock Co (Seaspimex Vietnam) recently released its 2007 fiscal year with the total asset of 296.699 billion dong.

* Vietnam National Oil and Gas Group (PetroVietnam) on May 10 organised the debut ceremony of Nghi Son oil refinery and petrochemical joint venture in Nghi Son economic zone in the northern province of Thanh Hoa.

* Bidv Insurance Co (BIC) and Gnga Vietnam Holdings Pte, Ltd in Hanoi recently signed a principle contract to set up Bidv Energy Trading and Service Ltd Co (BEST) with the initial chartered capital of US$1 million, of which BIC put up in 51%.

* VietNam Bank for Industry and Trade (Vietin Bank) recently announced that on May 13 it and Vietnam Payment Solution Joint Sock Co (VNPay) would jointly launch SMS Banking service in Vietin Bank's all network

* Vietnam Bank for Private Enterprises (VPBank) is today May 12 to launch the largest promotion programme so far with the total value of prises of nearly three trillion dong, including the first prize is worth one billion dong.

* Foreign bank HSBC recently granted the Global Transaction Banking Award 2007 to South Eastern Asia Bank (SeABank). Earlier, the local bank received the similar prize from the US Wachovia Bank.

Last year, the international payment revenue of SeABank reached 4.026 trillion dong, rising 213% year-on-year. The figure is estimated at over 20 trillion dong in 2008 while the receivable international payment can reach 30 billion dong.

* Military Commercial Joint Stock Bank (MB) recently announced that during the first four months of this year, it earned more nearly 80 billion dong in profit from shares investment and that was 228 billion dong in the whole year 2007.

* The Bank for Investment and Development of Vietnam (Bidv) on May 9 announced the results of the prize-based saving programme for the first phase of this year with the total prize value of up to 8.2 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.