Company, bank, stock market briefs July 15
Source: 15/Jul/2008 Intellasia
Jul 15, 2008 - 12:02:07 PM * Ho Chi Minh Stock Exchange (STC) recently announced that the Kinh Do Joint Stock Co (coded KDC) would close the shareholders list on July 24 to pay at 31% dividend including 9% in cash on August 27 and 22% remain in shares for the second phase of 2008.

* Ho Chi Minh Stock Exchange (STC) recently approved the Dry Cell and Storage Battery Joint Stock Co (Pinaco-coded PAC) to buy back 300,000 its shares to make fund shares from July 18 to October 18 under the method of matching order and negotiations. The capital source to buy these shares is from the company's capital surplus.

* Hanoi Securities Trading Centre (HaSTC) recently announced that Vietnam National Reinsurance Joint Stock Co (coded VNR) would close the shareholders list on July 25 to pay at 10% dividend in cash for the first phase of 2008 (shareholders who hold one share will receive 1,000 dong)

* PetroVietnam Insurance Joint Stock Corp (PVI) reported that up to June 30, it gained 1.4 trillion dong in revenue, up 25% year-on-year, 105 billion dong in profit, rising by 30% against 2007. In addition, PVI completely paid a 15% dividend including 7% in cash and 8% in shares to the shareholders whereby its chartered capital was raised to 1.035 trillion dong—marking the highest level among Vietnam's life insurance companies.

* Ba Ra Vung Tau Housing Development Joint Stock Co (coded HDC) recently released the business production results in the first half of this year with over 180 billion dong in revenue and more than 27 billion dong in pre-tax profit, a three fold increase against 2007.

* The National Oil and Gas Corp (PetroVietnam-PVN) together with three foreign banks namely France-based Calyon Bank, German kfW Bank and Belgium's Fortis Bank on July 11 signed a credit contract worth US$216.25 million for the Ca Mau 2 Power plant project. Three banks would set aside of US$100 million for export credit and US$116.25 million would be commerce credit for PVN to stabilise the capital source for the project.

* Saigon Hanoi Commercial Joint Stock Bank (SHB), on July 14 in Hanoi, offered a tender package of "Core Banking system" with the participation of contractors including FPT-Iflex Information System Ltd Co, Polaris Software Lab Ltd Co and Temenos-Hipt Co As reported, SHB's this project is under the bank's general plan aiming to improve the bank's operation capacity and make SHB to become a modern multipurpose retailer forwards to be a financial group by 2015.

* From July 13, Southern Bank officially adjusted up by 0.2-0.3% per annum against the previous rates as for gold deposit rates. Specifically, the bank applied the interest rate of 4.8% per annum as for one-month term, two months at 5.3%, three months 6.1%, six months 6.4%, 12 months at 6.8%, marking the bank's highest level and 6.0% per annum as for terms of over 18 months.

* Vietnam International Joint Stock Commercial Bank (VIB) recently posted gaining over 323 billion dong from pre tax profit during the first half of the year, equalling to 45.1% of the year's target. In particular, up to the end of June, VIB Bank's total assets reached over 35.876 trillion dong, or 68.3% of the expected plan, 23.158 trillion dong in total deposits, or 68,5% of 2008's figure and over 19 trillion dong in outstanding loan or 62.2% of the year's goal.

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.