Company, bank, stock market briefs Aug 27
Source: 27/Aug/2008 Intellasia
Aug 27, 2008 - 12:03:55 PM * The State Securities Commission (SSC) on August 25 granted license to Material Trading and Construction Joint Stock Co (coded CMC) with a chartered capital of 10.3 billion dong to offer 526,200 ordinary shares at 10,000 dong par to the public under the consultancy of Alpha Securities Joint Stock Co.

* Ho Chi Minh Stock Exchange (STC) recently announced that 264,835 additional shares at 10,000 dong par of Taya Vietnam Electric Wire and Cable Joint Stock Co (coded TYA) will be officially traded on the southern bourse on September 3.

* Hanoi Securities Trading Centre (HaSTC) recently approved in principle the But Son Cement Joint Stock Co (coded BTS) to list extra 880,160 BTS-coded ordinary shares at 10,000 dong par worth total of nearly 8.802 billion dong on the northern bourse.

* Tuong An Vegetable Oil Joint Stock Co (coded TAC) recently announced that its foreign shareholder, Jaccar Capital Fund, sold out 219,760 TAC-coded shares from August 22 to 25, reducing the holding rate to 4.85% stake or 921,280 shares.

* September 9 will be the first trading session of 20 million VNA coded shares of Vinaship Seagoing Transport Joint Stock Co with the comparative price of 50,000 dong per share along with the amplitude +/-20%.

* Luong Tai Construction Investment Joint Stock Co (coded LUT) on Monday announced that it will assign Sacombank Securities Co to buy back 200,000 LUT coded shares from September 5 to December 5, 2008 to make fund shares under the methods of matching order or negotiation.

* prime minister on August 25 approved in principle Tan Tao Investment and Industry Joint Stock Co to build Kiem Luong Power Plant No 1 with the designed capacity of 1,200 MW and Kien Luong 2 with 1,200-2,000 MW, and Nam Du deepwater port.

* The local infrastructure technology company RRP-CT in the Mekong Delta city of Can Tho has been licensed to develop a chemical and asphalt emulsion factory in Tra Noc 2 Industrial Park. The project costs some US$14.7 million.

* Kinh Bac Urban Development Joint Stock Co has announced that its Que Vo Industrial Park has leased out all land to 60 local and foreign investors who have combined investment of over 500 billion dong.

* Gia Lai Power Co has received approval from the government to start up equitisation. The company can sell shares to strategic partners at a price not lower than the starting price to be put up for auction at its initial public offering (IPO) to be launched later, while prices offered to employees will be 60% of the average IPO price.

* An Giang Import Export Co (Agimex) has cut a deal with Saigon Co-op to market Jasmine Chau Phu rice in 29 Co-op Mart supermarkets nationwide. Agimex is able to produce 350,000 tonnes of the high-quality rice a year.

* Management unit of Irrigation Investment and Construction No 7 has received nod from authorities to develop Ta Pao hydropower project worth 2.6 trillion dong in the central province of Binh Thuan. The project will require 467 billion dong for land clearance, and construction is to begin late this year for completion five years later.

* The State-run oil and gas giant PetroVietnam has inked a deal with Uzbeneftegaz to explore and tap oil in Uzbekistan. The two corporations have also agreed on a deal to transfer the coal-to-gas technology.

* Hong Kong Shanghai Banking Corp (HSBC) and Vietnam Post Corp (VNPOST) yesterday August 26 signed a memorandum of understanding on the cooperation in linking services, connecting system and providing banking services.

* From now to October 31, 2008, Eastern Asia Commercial Bank (EAB) will launch the 0% lending interest rate programme for instalment purchase at Best Carings.

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.