Company, bank, stock market briefs Sep 05
05/Sep/2008 Intellasia
Sep 5, 2008 - 12:03:19 PM
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* The State Securities Commission (SSC) on September 3 licensed Vietnam Mechanisation Electrification and Construction Joint Stock Co-Meco with a chartered capital of 66 billion dong to offer 10.2 million ordinary shares at 10,000 dong par to the public.
* The State Securities Commission (SSC) on September 3 issued a Dispatch No 1773/UBCK-QLQ granting establishment and operation license to Thang Long Meritz Fund Management Joint Stock Co.
* Ho Chi Minh Stock Exchange (STC) recently announced receiving enough application from MT Gas Joint Stock Co to list eight million ordinary shares at 10,000 dong par on the southern bourse under the consultancy of Hai Phong Securities Joint Stock Co's HCM City branch.
* Hanoi Securities Trading Centre (HASTC) on September 4 officially welcomed three million VE1 coded shares of VNECO 1 Power Construction Joint Stock Co, bringing the total number of share codes on the bourse to 148.
* Additionally issued 66,701,667 ordinary shares at 10,000 dong par with total value of over 66.7 billion dong of Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) will be traded via Ho Chi Minh Stock Exchange (STC) on October 10, 2008.
* About 1.29 million QHD0823032 coded bonds issued by Vietnam Development Bank (VDB) will be listed on the Hanoi Securities Trading Centre (HASTC) on September 9. These 15-year book entry bonds worth 129 billion dong with the coupon rates of 15% per annum were issued on August 4, 2008.
* Saigon Securities Inc (coded SSI) reported its foreign shareholder Daiwa Securities Corp Inc purchased already 8,673,390 out of registered 11,684,880 SSI coded shares from June 25 to August 29, 2008. Daiwa Securities Corp Inc now holds 14,988,510 SSI shares or 10.97% stake of the top broker.
* Cement Finance Joint Stock Co (CFC), one of Vietnam's first finance companies established under the finance joint stock company model is to make its debut today September 5 in Hanoi. CFC with a chartered capital of 300 billion dong includes three founding shareholders namely Vietnam Cement Industry Corp (Vicem) with 40% stake, Vietnam Steel Corp (VSC) 10% and the Bank for Foreign Trade of Vietnam (Vietcombank) 11%.
* The Da Nang-based jewellery firm Doji has inaugurated the Diamond House in the central coast city. The retail outlet stocks about 1,000 jewellery items inlaid with diamonds bearing well-known brands.
* Khai De Vietnam Co Ltd started work on a property project worth US$300 million on Tuesday. The first phase of the 17 -story apartment building is expected to be completed within three-years, with total floor space of 300,000 square metres.
* The Dong Nai Province-based Tin Nghia Co has shipped four container loads of granite tombstones worth US$50,000 to Japan's Yokohama.
* Nha Trang Shipbuilding Industry Co and Soai Rap Shipbuilding Industry Co have cut a deal with Calypso Group to build four 24,500-dwt vessels. The ships worth a total of US$142 million will be completed and transferred to the Norwegian customer in 2010.
* Schneider Electric Vietnam has clinched a technology transfer deal with Viet A Group (Vapower).
* Miocen has commissioned a mineral water bottling factory in the Mekong Delta province of Tra Vinh.The 5,000-square-metre factory is able to churn out two million litres this year, and this capacity will be scaled up to five million litres next year and eight million litres in 2010.
* Saigon Beverage Co expects to obtain 10 trillion dong in revenue this year, up 46% year-on -year, despite rising material prices.
* Vietnam National Chemicals Corp (Vinachem) will open its US$30 million subsidiary Vietnam-Laos Chemical and Rock Salt Co., Ltd on Friday.
* From September 5 to November 5, Vietnam Commercial and Industrial Bank (VietinBank) would issue short-term bills of exchange for the second phase of 2008. These bills of exchange will be issued under the book entry model with the minimum face value of one million dong and terms of 4, 5, 6 and 7 months.
* Bank for Agriculture and Rural Development of Vietnam (Agribank) has officially issued Visa international cards including Agribank Visa Debit-Success and Agribank Visa Credit-Golden Key.
* Vietnam International Bank (VIB Bank) recently introduced the individual guarantee product as for domestic individuals and households. The product provides to customers (who are guaranteed) a professional guarantee service under the requirement of the third side (who receives guaranteeing) in their economic and commercial transactions.
* Maritime Commercial Joint Stock Bank (Maritime Bank) decided to provide about three trillion dong to support enterprises especially exporters for business and production development in September. From September 1, Maritime Bank lowered the lending rate by 1% per annum for US dollar.
* Bank for Investment and Development of Vietnam (Bidv) has reported a decrease of 600 billion in earnings due to its three interest rate cuts this year.
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