Vietnam Stocks: Asia Commercial, Vietnam Sea Transport, Vinacafe

21-Sep-2011 Intellasia | Bloomberg | 7:01 AM Print This Post

Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses, and prices are as of the 11 a.m. local-time close.

The VN Index, the benchmark measure of the Hochiminh Stock Exchange, rose 1 percent to 461.68.

Asia Commercial Bank (ACB), increased 0.9 percent to 21,700 dong, its biggest gain since September 7, on the Hanoi bourse. Its assets will probably more than triple by 2015, making it the first non-government lender to overtake one of Vietnam’s four biggest banks, Chief Executive Ly Xuan Hai said in an interview in his HCM City office on September 16.

Assets of ACB, as the bank is also known, are expected to climb to 900 trillion dong ($43 billion) by 2015 from about 255 trillion dong currently, Hai said.

Vietnam Sea Transport & Chartering Joint-Stock Co. (VST), a shipping service provider, advanced 3.5 percent to 5,900 dong. Truong Dinh Son, the HCM City-based company’s general director, will raise his stake to 3.5 percent from 2.7 percent from September 21 to November 21, according to an exchange filing.

Vinacafe Bien Hoa Joint-Stock Co. (VCF) a unit of Vietnam’s second-biggest coffee exporter, dropped 2.6 percent to 95,500 dong. The country’s coffee exports in August fell 32 percent from July to 36,100 tonnes, according to an online report posted on the general Customs’ website on September 16.


Category: Stocks

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