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| Business and stock briefs March 10 |
| 10/Mar/2010 Intellasia |
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| 10 Mar, 2010 - 12:39:35 PM |
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* The Hochiminh Stock Exchange has approved Khanh Hoa Power Co (KHP) to trade 20.7 million additional shares on the bourse.
* Vinpearlland Tourism Co. (VPL) has announced that it has sold 7.8 mil lion shares of Vinpearl Hoi An
Tourism Investment Joint Stock Co to reduce its holding to nine million shares, or a 30% stake in the company.
* There were 19 individual investors registering to buy 151,700 shares of the printing factory of Thanh Nien Newspaper against the offer of 1.91 million shares on its auction last week. The average winning price was 11,000 dong each, also the starting price of the auction.
* Phuc Tien Trading and Manufacturing Co (PHT) has got approval from the State Securities Commission to issue nine million shares, comprising 2.75 million shares to existing shareholders, 5.15 million shares to strategic investors, and 1.1 million shares for paying dividend.
* VietFund Management Co and its funds between February 5 and March 2 made transactions on Tu Liem Urban Development Co. (NTL) to increase their ownership from 5.98% to 6.75%. Meanwhile, the group also has reduced its stake from 5.54% to 5.16% in Sudico (SJS).
* SSI Horizon Fund has sold nearly 60,000 shares of Binh Thanh Import Export Production and Trade Co. (GIL) to decrease its ownership from 5.22% to 4.61%.
* The 100-billion dong PetrolimexLand Joint Stock Co has got permission from the State Securities Commission to issue 10 million shares to existing shareholders.
* Nestle Vietnam has announced to revise down prices of some dairy products by 4%-5% this year. This is part of the enterprise's long-term strategy to offer high-quality products at affordable prices for consumers.
* Bac Lieu Food Co. has purchased 16,000 tonnes of rice for reserve under the schedule of the Vietnam Southern Food Corp. Unhusked rice prices in Bac Lieu Province are around 4,000-5,000 dong per kilo.
* Vinamode International Co. has inaugurated a footwear factory in Trang Due Industrial Park in Hai Phong City with an investment of $3.3 million. The factory is expected to reach $9 million in export value each year and generate jobs for over 1,000 labourers.
* Quang Dung Co. Ltd has cooperated with Bunge Agribusiness Vietnam to have farm products transported to Vietnam in a Hong Kong 55,000-DWT ship. The vessel has called on Phu My Port in Ba Ria - Vung Tau Province with around 48,000 tonnes of dry soybean cake.
* Hoang Thach Cement Joint Stock Co. has launched a 2.5-trillion dong production line into operation with capacity of 1.2 million tons per year. The production line will help raise total output of the factory to 3.5 million tonnes per year.
* Dat Phuc Joint Stock Co. has inaugurated a centre for motorized vehicle driving tests in Vung Tau City with invested capital of nearly 30 billion dong. The centre is expected to hold driving tests for 260 motorcycle and 160 automobile drivers each day.
* 3M Vietnam Co. Ltd. has opened a new office and a customer service centre in HCM City's District 7. 3M Vietnam, a subsidiary of the US’s 3M Group, was established in 1994 to provide services in electrical equipment distribution, telecommunications, medical and dental products.
* Tien Giang Food Co. has announced to purchase 5,000 hectares of winter-spring unhusked rice in Tien Giang and An Giang provinces at the floor price of 4,500 dong per kilo. The paddy area IS expected to turn out 27,000 tonnes of rice.
* The State Bank of Vietnam has decided to establish a team grouping representatives from relevant ministries to draft a decree to regulate gold trading operation.
* The State Bank of Vietnam has asked provincial branches of the central bank to make reports on promotion programs by banks to attract deposit and the application of fees in lending before March 9.
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