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| Business, banking and stock market briefs July 3 |
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03/Jul/2009 Intellasia |
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3 Jul, 2009 - 1:45:27 PM |
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* Ba Na Cable Car Service Joint Stock Co. has been approved by Da Nang City to replace Ba Na Golf Course Club Co Ltd as the main investor of the Ba Na Golf Course project that will be merged into its Ba Na-Suoi Mo tourism complex in Hoa Vang District, as the former investor has failed to establish the project.
* Saigon Commercial Centre and Apartment Joint Venture Co yesterday resumed work on the high-rise building project of Saigon Residence in District 1 after one year's suspension due to damages caused to a nearby apartment building.
* Vietnam Multimedia Corp (VTC) has offered subscribers in remote areas throughout the country the two receiver-decoder sets of DVB-S2 with valid codes to view standard HDTV (high -definition or full HD television) and SDTV (standard definition television) channels after launching the new TV channels for six months. VTC is broadcasting eight channels of HDTV, of which three are produced domestically and the other five are imported from foreign countries.
* VTC I Media Joint Stock Co, a subsidiary of Vietnam Multimedia Corp (VTC), has introduced its VTC iMedia service for mobile phone users, GPRS-run software with a reasonable registration fee, fast connecting speed and containing many add-on informative services. Mobile phone subscribers can register to use the service to download music and images, use the dictionary, search for locations and many other additional services at 1,000 dong per day.
* Binh Thanh Import Export Production and Trade Co (GIL) have bought back 250,000 GIL shares as registered to increase its treasury stock to 380,000 shares.
* International Consumer Products (ICP) has become the main shareholder by taking 51 percent stake in the capital of Thuan Phat private firm specialising in producing sources and spices, according to the recently signed agreement.
* PetroVietnam Finance Joint Stock Co officials have met other funding organisations for the construction of a coke coal plant of Hoa Phat Energy Joint Stock Co on July 02 and has signed cooperation contract at Techcombank's head office.
* Japan's Dream Incubator Joint Stock Co will make the debut of Asia DI Industrial Fund with total capital size of about six billion yen ($64 million) in Vietnam on July 9 after over one year of preparation.
* The State Securities Commission has issued an establishment license to Vietnam Bank for Industry and Trade Securities Joint Stock Co, or VietinBankSC, which will engage in services of brokerage, trading, consulting, and underwriting.
* Bao Viet Investment Fund (BVFl) has registered to sell out its holdings of 518,000 shares of Petrolimex Import Export Co (PIT) from July 10 to January 11 next year.
* Mekong Seafood Joint Stock Co is seeking approval to trade 8.1 million shares on the Ho Chi Minh Stock Exchange.
* The 41 billion dong Sakura Securities Joint Stock Company has been recognised as a member at the Hanoi Stock Exchange. The firm offers brokerage, consulting, and custody services.
* Only one institution has bid for three-year bonds issued by Vietnam Expressway Corp (VEC) at the auction last Tuesday but it failed to buy the bond due to high coupon demanded. Under the government's guarantee, VEC would issue 300 billion dong worth of three-year bonds and 200 billion dong worth of five-year bonds, with the ceiling rates of 9.3 percent and 9.4 percent per year, respectively.
* Lam Thao Fertilisers and Chemicals Co have sold out 5.42 million shares at an auction last Tuesday. The average winning price was nearly 14,000 dong against the starting price of 12,000 dong each. No institution participated in the auction and the company obtained a total 75.6 billion dong from the auction.
* Cambodian Civil Aviation Authority has announced its plan to officially open and put into operation the new national joint venture airlines between Cambodia and Vietnam called "Cambodia Angkor Airline" (CAA) and hold the opening ceremony of Preah Sihanouk International Airport on July 27.
* Ha Thanh Securities Joint Stock Co (HASC) and EVN Finance will cooperate in exchange of information, investment opportunities, securities consultancy, and bond issue underwriting (especially bonds of EVN and its members), according to a cooperation deal signed recently between two parties.
* The oil refinery No 3 in Ba Ria Vung Tau province's Long Son is attracting much attention of new investors including Malaysia's Petronas Group, UEA's IPIC complex, Singapore's Trafigura and Korea's GS Group, citing Dau Tu newspaper
* Kinh Bac Urban Development Joint Stock Co (coded KBC) has reported that it has been licensed to build a power plant in Bac Giang province through setting up a power investment joint stock company with Vietnam Coal and Mineral Group (Vinacomin).
* Work on Bac Na hydropower plant with total designed capacity of 20 MW and an average electricity production of 78.7 million kWh year has recently started in Lao Cai province's Bac Ha Dist.
* Thang Long Project Management Board, under Ministry of Transportation plans to officially start the phase 2 of Ring road 3 –Hanoi construction project at the end of this year.
* The State Bank of Vietnam yesterday asked credit institutions not to increase the US dollar price sold to enterprises higher than permitted. Enterprises have complained that they have to buy the dollar from banks at a price higher than the formally-quoted price.
* During the first half of this year, Maritime Bank has reported earning 473 billion dong in pre-tax profit (after deducting 112 billion dong for the risk prevention risk, its total assets touched of 46 trillion dong, and total deposits 43 trillion dong.
* Dai Chau Joint Stock Co (coded DCS) has set target of reaching revenue of 66 billion dong and pre-tax profit and after tax profit of 8.8 billion dong and 6.6 billion dong respectively in 2009.
* General Director of Vietcombank, Nguyen Phuoc Thanh reported that his bank gained over 2.450 trillion dong in H1 pre-tax profit, fulfilling 75 percent of the whole year's target of 3.320 trillion dong. Giving explanation on the small gap between pre-tax profit of H1 and the previously announced Jan-May figure of 2.489 trillion dong, he said the above profit excluded the deduction of 400 billion dong for the risk prevention fund.
* Vietnam International Commercial Joint Stock Bank or VIB Bank has recently introduced its two new products of "accumulative housing loans" and "housing loans for business establishment" with outstanding features.
* Standard Chartered Bank on July 02 celebrated its one year establishment anniversary of the bank's retail branch in Hanoi and introduced its new product of "loans for individuals"
* Bao Viet Commercial Joint Stock Bank (BaoVietBank) has officially started its card project with OpenWay Asia Private Co Ltd
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