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Business Briefs February 8

Wed, 08 Feb 2012 13:58:15 +0800

* Refrigeration and Electrical Engineering Joint Stock Corp (coded REE) has recently announced the resolution of the company's director board on February 6, 2012

VN30 exceeds 460pts, trading value on both bourses at over 1tr dong

Wed, 08 Feb 2012 13:58:14 +0800

The VN Index of Hochiminh Stock Exchange (STC) today February 8 posted 3-month high with a series of real estate and mineral shares reaching the ceiling price.

Vietnam retail market drops from first to twenty third position in A.T Kearney's report

Wed, 08 Feb 2012 13:47:18 +0800

According to A.T Kearney's market retail ranking for the year 2011, Vietnam ranks the twenty third.

2012 likely to be difficult year for banking industry

Wed, 08 Feb 2012 13:47:16 +0800

Soaring bad debts together with liquidity problems and economic restructuring particularly banking reorganisation have pushed commercial banks to face a great deal of difficulties in 2012.

Bankers call for further relaxation in interest rates

Wed, 08 Feb 2012 13:47:16 +0800

Deputy general director of Lienvietpostbank urged further relaxing of interest rates for property sector so as to ease businesses' difficulties, which means saving banks themselves.

Hanoi to have 10tr dong urban zone project

Wed, 08 Feb 2012 11:36:29 +0800

Hanoi People's Committee has recently approved Hai Dang Real Estate Investment Joint Stock Co to invest in Hai Dang City high-rise housing project in districts of Cau Giay and Tu Liem.

DIC gains profit of 14b dong in 2011

Wed, 08 Feb 2012 11:34:53 +0800

The DIC Investment and Trading Joint Stock Co (coded DIC) released the Q4 financial reports with total net revenue of 277.6 billion dong, down 36.387 percent against the same period of 2010.

SEC's net profit up 64pct y-o-y at 100b dong,

Wed, 08 Feb 2012 11:34:52 +0800

The southern bourse-listed Gia Lai Sugar Thermal Power Joint Stock Co (coded SEC) has lately reported gaining net profit of 2.4 billion dong in Q4, equalling to half of the same period of 2010.

Cement consumption declines in Jan

Wed, 08 Feb 2012 11:32:53 +0800

Vietnam's cement production output in January 2012 was estimated at 2.92 million tonnes (or 5.3 percent of the year's plan) and cement consumption reached 2.85 million tonnes (or 5.2 percent of the year's target); according to the latest report of Vietnamese Ministry of Construction (MoC).

Crude oil exploitation output up 11.6pct y/y at 1.41m tonnes in Jan

Wed, 08 Feb 2012 11:32:50 +0800

As per the latest report from Vietnamese Ministry of Industry and Trade (MoIT), in the first month this year

MBB to pay 3pct cash dividend

Wed, 08 Feb 2012 11:32:38 +0800

Military Commercial Joint Stock Bank (coded MBB) announced to close the shareholders list on March 1, 2012 for advancing second round dividend in cash for existing shareholders.

I40 targets output of 70-80b dong in 2012

Wed, 08 Feb 2012 11:25:13 +0800

The Investment and Construction 40 Joint Stock Co (coded I40) has lately worked out the 2012 production plan with targeted output value of 70-80 billion dong.

LSS aims profit of 562b dong in 2012

Wed, 08 Feb 2012 11:25:11 +0800

Lam Son Sugar and Sugarcane Joint Stock Co (coded LSS) plans to reach total production output plan of 1.2 million tonnes of sugar and 13 million litres of alcohol.

NHC expects profit of 1.23b dong in Q1

Wed, 08 Feb 2012 11:25:10 +0800

Nhi Hiep Brick Tile Joint Stock Co (coded NHC) released the targeted business plan for 2012 with total revenue of 82.17 billion dong and profit of 6.18 billion dong.

PVC puts into operation new chemical plant

Wed, 08 Feb 2012 11:23:24 +0800

PetroVietnam Drilling Chemical Joint Stock Corp (coded PVC) announced to officially put into operation the new petroleum chemical plant in Cai Mep-Vung Tau Industrial Park in Q2.

Comeco targets profit of 30b dong in 2012

Wed, 08 Feb 2012 11:23:23 +0800

The management board of Comeco Petroleum Materials Joint Stock Co (Comeco - coded COM) has lately worked out the 2012 year plan with targeted revenue of 5.2 trillion dong and after tax profit of 30 billion dong.

LAS officially deposits 54m shares in VSD

Wed, 08 Feb 2012 11:23:22 +0800

Vietnam Securities Depository Centre (VSD) has recently issued the certificate for depositing shares to Lam Thao Fertiliser and Chemical Joint Stock Co.

BTG advances dividend in cash at 20pct

Wed, 08 Feb 2012 11:20:46 +0800

Tien Giang Package Joint Stock Co (coded BTG) has lately announced to close the shareholders list for advancing 2011 dividend and holding the annual general meeting.

MBB reports credit growth at 31pct in 2011

Wed, 08 Feb 2012 11:20:41 +0800

Military Commercial Joint Stock Bank (MBB) has lately reported its business performance in the fourth quarter of 2011 with net interest income of over 1.64 trillion dong

PTI included in VNR500 list

Wed, 08 Feb 2012 11:20:41 +0800

Postal Insurance Joint Stock Co (PTI) has lately been approved to be listed in the VNR 500 list, the list of top 500 largest private enterprises in Vietnam. This is the only insurance firm to be included in that list.

Lending interest rate may be at 16-17pct/yr in 2012: HSBC Vietnam's CEO

Wed, 08 Feb 2012 11:20:35 +0800

During the meeting with enterprises about Vietnam's economic prospects in 2012 that took place in Canadian Chamber of Commerce in Vietnam (Cancham) on February 7, specialists of some credit institutions said that Vietnam's inflation this year will ease significantly and the forex rate will be more stable.

Asia stocks rise, with car makers gaining

Wed, 08 Feb 2012 10:32:11 +0800

Asia markets moved higher Wednesday, with sentiment helped by progress toward a Greek debt deal, and with car makers among the notable gainers after Toyota Motor Corp. hiked its outlook.

SFN to pay 7pct dividend in cash

Wed, 08 Feb 2012 09:09:54 +0800

Saigon Fishing Net Joint Stock Co (SFN) has recently said that February 22 would be the ex-dividend date for the company to pay dividend and organise its AGM (annual general meeting) 2012.

REE to pay 16pct cash dividend

Wed, 08 Feb 2012 09:09:53 +0800

Refrigeration and Electrical Engineering Joint Stock Corp (coded REE) has recently announced the resolution of the company's director board on February 6, 2012

Foreign investors' net sale sees 28-month high at over 2tr dong in Jan

Wed, 08 Feb 2012 09:09:51 +0800

In the first month of 2012, foreign investors had two outstanding events related to bank shares of namely Australia and New Zealand Banking Group Limited (ANZ) offloaded capital in Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank-STB) and Vietnam Commercial Joint Stock Bank for Foreign Trade (Vietcombank-VCB) finalised selling 15 percent stake for Japan-based Mizuho Bank.

Interbank average interest rate slips to below 10pct/yr

Wed, 08 Feb 2012 09:09:50 +0800

It is for the first time that the interbank average interest rate of a term has edged down to below 10 percent per annum (p.a.) since early 2011 so far.

Asian marts lower on Greece worries

Wed, 08 Feb 2012 08:02:09 +0800

Asia's major stock markets were mostly lower on Tuesday, tracking overnight losses on Wall Street, with investors retreating after Greece again failed to cut a deal on tackling its debt mountain.

China denies sheltering Syria's Assad

Wed, 08 Feb 2012 07:13:00 +0800

China on Monday denied US accusations it was protecting the Syrian regime, after drawing international criticism for vetoing a UN resolution condemning a deadly crackdown on protests by Damascus.

China, Russia lose credit in Arab world - League chief

Wed, 08 Feb 2012 07:12:00 +0800

The Arab League chief said on Monday that Russia and China had lost diplomatic credit in the Arab world by vetoing a UN resolution on Syria and may have sent a message to Damascus that it had a free hand to crack down on protests.

Burma approves Suu Kyi run for Parliament

Wed, 08 Feb 2012 07:11:00 +0800

An elections panel Monday affirmed opposition leader Aung San Suu Kyi's candidacy for Parliament in Burma, also known as Myanmar, in another step toward political openness in a country emerging from nearly a half-century of iron-fisted military rule.

Europe crisis could halve China's growth: IMF

Wed, 08 Feb 2012 07:10:00 +0800

An escalation of Europe's debt crisis could slash China's economic growth in half this year, the International Monetary Fund said Monday, urging Beijing to prepare stimulus measures in response.

Indonesia to arrest opposition member linked to SEA Games bribery case.

Wed, 08 Feb 2012 07:09:00 +0800

Muhammad Nazaruddin was accused on Wednesday of receiving $514,000 in kickbacks for a Southeast Asian Games construction project.

US bows to EU, Japan in 'zeroing' trade row

Wed, 08 Feb 2012 07:08:00 +0800

The United States on Monday said it has bowed to demands from the European Union and Japan to end its controversial "zeroing" antidumping practice.

N Korea 'developing kamikaze drones'

Wed, 08 Feb 2012 07:07:00 +0800

The North Korean military is developing unmanned "suicide" attack aircraft to target South Korean troops on the northwesternmost islands, a South Korean Army source claimed Sunday.

Vietnam arrests nine members of dissident group

Wed, 08 Feb 2012 07:06:00 +0800

Vietnam has arrested nine men said to be members of a 'politically reactionary' organisation that was aiming to overthrow the country's communist government, state media said on Monday.

Tibet exiles say repression in China at new heights

Wed, 08 Feb 2012 07:05:00 +0800

A continuing spate of self-immolations by Tibetans in China are a desperate response to "new levels" of Chinese persecution, the Tibet government-in-exile said Monday.

Philippines searches swamps for kidnapped Europeans

Wed, 08 Feb 2012 07:04:00 +0800

Philippine troops were scouring mangroves on remote southern islands Monday as the search for two kidnapped Europeans intensified, security officials said.

More opportunities for Vietnamese businesses to invest in Burma