Company, bank, stock market briefs Aug 07
Source: 07/Aug/2008 Intellasia
Aug 7, 2008 - 12:03:47 PM * Hanoi Securities Trading Centre (HaSTC)-listed PetroVietnam Insurance Corp (PVI), Vietnam's third-largest insurer recently reported that in the second quarter of the year it earned 246.074 billion dong in net revenue from sales and service provision, down 34.76 billion dong or 12.76% against the previous quarter and 40.136 billion dong from after tax profit, falling 20.56 billion dong or 33.8% from a quarter earlier, bringing the total figures during the first half of the year to 526.909 billion dong and 100.835 billion dong respectively.

* Song Da 96 Joint Stock Co (coded S96) reported that in the second quarter of 2008, it gained 9.513 billion dong in net revenue, 1.919 billion dong in after-tax profit, falling 41.52% from the previous quarter. The figures were estimated at 14.464 billion dong and 3.227 billion dong in first half of this year while its EPS reached 1,291 dong.

* Construction Co No 7 (coded VC7) recently announced business results in the second quarter of this year with the net revenue of 49.77 billion dong, pre-tax profit of 2.15 billion dong and EPS of 312 dong. Therefore, in the first half, the firm's net revenue totalled at 81.492 billion dong while its pre-tax profit reached 4.348 billion dong and EPS of 631 dong.

* During the first half of the year, Sa Giang Export Import Joint Stock Co (coded SGC) reached 59.5 billion dong in revenue, up 11.27% or 6.03 billion dong yoy and 5.9 billion dong from after tax profit, down 2.28 billion dong or 27.8% from a year ago.

* HCM City-located Tan Thuan Industry Development Co recently set up a joint venture with Dubai-based DP World, to jointly build a container port in Hiep Phuoc industrial zone in Nha Be Dist in the central of HCM City with the total investment capital of US$360 million.

* The local real estate investment and development firm Phuoc Kien has received the green light from the Mekong Delta province of Ben Tre to invest three trillion dong in the first phase of a 100-hectare resort and residential area. Work on the project is scheduled to start late this year.

* Song Thu Cable Television Co has said it will raise the monthly fee by 13,000 dong for customers who subscribe to the service from August 1, 2008 to July 31, 2009. The hike will send the total amount for subscription and maintenance rising to 50,000 dong. The company, which provides cable 1V services in Da Nang and some parts of HCM City, has blamed the increase on higher foreign copyright fees.

* Four subsidiaries of PetroVietnam Petrosetco, PV Oil, Binh Son Refinery Co and PV Finance have joined hands to set up a biofuel company with initial capital of 45 billion dong in the central province of Quang Ngai. The new company will build a plant to produce ethanol from cassava.

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.