Company, bank, stock market briefs May 13
Source: 13/May/2008 Intellasia
May 13, 2008 - 12:02:27 PM * Indian Philips Carbon Black Ltd and Vietnamese firms signed an agreement last Friday to set up a joint venture to manufacture carbon black for use in the tire industry. The three local firms are Casumina, Da Nang Rubber and Sao Vang rubber, which contribute a combined 22% of the total invested capital of US$65 million for the project.

* After three-years under construction, the 250 billion dong Krong Kma hydropower plant was commissioned last Friday in Krong Bong Commune in Dak Lak province.

* Philand Vietnam Co has submitted its architecture plan to build the Bien Rang resort on 42 hectares in Chu Lai Open Economic Zone. The resort will comprise facilities such as villas, restaurants, hotels, and a golf course of 18 holes. The company expects to start work on the resort this July.

* Honda Vietnam late last week announced the launch of two new versions of Air Blade scooters with more sporty and fashionable design. The scooter hits the street from May 10 with the suggested retail price of 28.5 million dong inclusive VAT and comes in three colours of dark blue, white and red.

* Saigon general Service JSC (Savico) on May 10 reported that last year it earned 1.75 trillion dong in revenue, 73.8 billion dong in after-tax profit and a dividend of 15%. The figures are targeted at 2.2 trillion dong, 80 billion dong and 15% in 2008.

* Sao Ta Food JSC (coded FMC) announced to buy back 300 shares to make fund shares between May 16 and August 16 under the negotiated and matching order method. Similarly, Hoa An JSC (coded DHA) also registered to buy back 100,000 fund shares from May 20 to August 15, 2008 under the matching order method.

* Bidv Insurance Co (Bidv) recently released the audited fiscal year of 2007 with the total debts and equity of 720.020 billion dong. Under it, the insurer last year reached 110.780 billion dong in total revenue, 70.153 billion dong in revenue from insurance business and brokerage, 40.483 billion dong in revenue from financial activities, 18.701 billion dong in pre-tax profit with CIT of 4.625 billion dong, and the after-tax profit of 14.076 billion dong.

* Hanoi Securities Trading Centre (HaSTC) reported that it received the listing applications from VNECO 1 Power Construction Joint Stock Co and Mangan Natural Mineral Joint Stock Co Accordingly, Da Nang based VNECO 1 has a chartered capital of 30 billion dong operating in fields of civil construction, industry and road construction and Ha Tinh province's Mangan Co has a chartered capital of 12 billion dong.

* In Q1 this year, Song Da Investment and Construction Installation JSC (coded SDD) reached a revenue of over 7.1 billion dong and after tax profit of more than 712 million dong.

* Song Da 10 JSC (coded SDT) reported gaining 77.9 billion dong in revenue and 6.9 billion dong in after-tax profit during the first quarter of 2008, Petrochemical JSC (coded PLC) with 787 billion dong and 17.9 billion dong, Khanh Hoa Power KSC (coded KHP) with 173 billion dong and 1.5 billion dong, Tan Dai Hung Plastic JSC (coded TPC) with 78.4 billion dong and 2.1 billion dong, STC coded GIL, Binh Thanh Import Export Trading and Production JSC with 106 billion dong and 6.5 billion dong, PetroVietnam Transportation JSC (STC listed PVT) 171 billion dong and 8.5 billion dong, Thu Duc Housing Development JSC (STC listed TDH) with 90.2 billion dong and 25.7 billion dong, Hai Phong Cement Service and Transportation Trading JSC (HaSTC listed HCT) with 9.6 billion and 765 million, STC listed Vien Dong Paper JSC with 109 billion and 3.7 billion, Hoa Phat Construction Stone JSC (HASTC listed HPS) with 3.4 billion and 349 million, Tasco JSC (HASTC listed HUT) with 31.3 billion and 2.5 billion, Ngan Son JSC (HASTC listed NST) with 48.2 billion and 1.2 billion, and Petrolimex Hanoi Trading and Transportation JSC (HASTC listed PJC) with the revenue of 94.8 billion dong and over 2 billion dong in after-tax profit.

* HaSTC approved in principle Da Nang City Educational Book Joint Stock Co (HaSTC listed DAE) to list additional 848,680 shares and Song Da 5.05 JSC with extra 1.796 million shares on the floor.
* Song Da 1.01 JSC also was licensed in principle to list extra 890,000 SJC coded shares on the northern bourse.

* May 22 is the registration deadline for Tasco JSC to pay a dividend of 6% for the last half of 2007 to the shareholders.

* Chuong Duong Brewage Joint Stock Co recently approved the plan for 2008 including negotiated transactions to buy 65-80% stake into Dakai Mineral Water JSC, building an 80 billion dong housing project for employees on a site of 5,000 square metres in My Phuoc 3 IS.

* Seafood Investment and Commerce Joint Stock Co (Incomfish) recently passed the plan of delaying the issue of 23.99 million shares and assigned the director board to select financial institutions to raise capital. In addition, the company also agreed to delay the construction on three investment projects such as Dai Duong frozen fish processing plant in HCM City, canned fish factory in Phu Yen province and other real estate projects in HCM City.

* Ho Chi Minh Stock Exchange yesterday announced that May 21 is the deadline for Tu Liem Urban Area Development Joint Stock Co (coded NTL) to close a list of the shareholders to pay a dividend for 2007. Under it, the listed firm will pay the 2007 dividend in shares at a ratio of 1:1 on July 20, 2008.

* The Vietnam National Oil and Gas Group (PetroVietnam) will this week join the Russian oil group Zarubezneft to set up joint venture to tap an oil field in Russia. PetroVietnam will contribute 49% of capital and the Russian side, 51%, to the joint venture. PetroVietnam also indicated that the group plans to invest in another oil field abroad from now till the end of this year. In the first quarter of the year, the group signed three contracts with Laos, Tunisia and Iran to exploit oil and gas abroad. In addition, it is negotiating for a project in Algeria with a view to turning out products by 2010.

* The Cuu Long Vinashin Steel Co has recently inked a US$30 million contract with Macsteel of Hong Kong to export hot rolled plate steel to the US. According to Vinashin, the mother company of the Cuu Long Steel, the first shipment of the product is scheduled to be delivered at the end of May, marking the country's first ever export of plate steel. The Cuu Long Vinashin Steel Co is the first producer of hot-rolled plate steel for the shipbuilding industry in Vietnam, rolling out its first products in December 2007.

* PetroVietnam Fertiliser and Chemical Joint Stock Co (PVFCCo) and the Office Cherifien des Phosphates (OCP) of Morocco have signed an agreement to build a fertiliser plant valued at 600 million US dollars in the African country. The plant will be capable of producing from 660,000 to 1 million tonnes of diamonium phosphate (DAP) fertiliser to supply to Vietnam and other regional markets, sources from the Vietnam National Oil and Gas Group (PetroVietnam) said on May 10. The DAP plant, which will be built soon, is slated to begin operations by 2011, becoming Vietnam 's largest project invested abroad so far.

Source: Saigon Times Daily, Thanh Nien, Thoi Bao Kinh Te Vietnam, Dau Tu Chung Khoan, HaSTC, Lao Dong, Nguoi Lao Dong.