Company, bank, stock market briefs July 16
Source: 16/Jul/2008 Intellasia
Jul 16, 2008 - 12:02:35 PM * The State Securities Commission (SSC) recently issued a Dispatch No 1373/UBCK-QLPH approving in principle the Hai Chau Confectionery Joint Stock Co (Haichaco) to offer shares to the public. In order to complete registration proceedings, the company has to announce the clear rate of the shares issue to the employees in the fiscal statement in accordance with the Circular 18/2007/TT-BTC dated on March 13, 2007 by the Ministry of Finance.

* Ho Chi Minh Stock Exchange (STC) on July 15 announced the development plan in 2008-2009 of Mirae Joint Stock Co (coded KMR). Under it, during this period, the company would list shares on the Korean Exchange (KRX) to develop its brand name and attract investment capital from Korea partners as well as create conditions for the company's expansion plan.

* Hanoi Beer, Alcohol and Beverage Corp (Habeco) recently announced the first half's business result with over 1.201 trillion dong in total industry production value, equalling to 43.7% of the year's plan and up 10.6% against the year earlier.

* Descon Industry Construction Joint Stock Co (coded DCC) recently released its business performance during the first half of the year with over 171 billion dong in net revenue from sales and services provision, up 50.66% or 57.527 billion dong against the same period of 2007 and 9.601 billion dong from after tax profit, a year-on-year increase of 60.87% or 3.633 billion dong.

* Mekong Capital Investment Fund Management Co on July 14 announced its investment of US$2.6 million in Cong Vang (Golden Gate) Trade Service Joint Stock Co via the Mekong Enterprise Fund II, marking the fund's seventh investment into Vietnamese market.

* Thien Nam Trading-Import Export Joint Stock Co or TENIMEX (coded TNA) recently released the H1 business results with total revenue of 471.47 billion dong, a year-on-year increase of 123.75%, accounting for 58.93% of the year's target. In the period, the firm gained 9.35 billion dong, rising 13.17% yoy, equalling to 51.9% of 2008's profit plan.

* Local lender ABBank and French life insurer Prevoir launched the comprehensive risk insurance based on Prevoir Vietnam's products from July early. The programme is applied on corporate accounts. Key officials of businesses that have average balance of over 100 million dong a month at ABBank will be presented Previor Vietnam's comprehensive risk insurance product with the insurance value of up to 50 million dong for each member aged 18-59.

* The Southeast Asia Bank or SeABank recently announced that ending the first half of the year, the bank gained nearly 258 billion dong from pre tax profit, notably, in second quarter alone the bank earned 130 billion dong.

* From July 15, Export-Import Joint Stock Commercial Bank of Vietnam (Eximbank) officially adjusted the deposit rate benchmark of both dong and US dollar whereby the new dong deposit rates increased by 0.54% per year and that of US dollar rose by 0.5-0.72% per annum.

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.