Business Brief April 04

04-Apr-2016 Intellasia | | 3:08 PM Print This Post

* Duc Long Gia Lai Group Company (DLG) has announced it has dissolved two subsidiaries, Due Long Gia Lai Transport Construction Company, and Tourism, Sports and Education Company.

* Thien Long Group Corporation (TLG) has added 8.8 rnillion shares on the Hochiminh Stock Exchange, raising its total outstanding volume to 38.3 million shares. The new shares will be tradable on April 12.

* Dang Van Vinh, general director of natural gas distributor CNG Vietnam Company (CNG), has registered to sell nearly his entire stake totalling 67,000 CNG shares over one month starting from April 6.

* Transirnex-Saigon Corporation (TMS) plans to issue VND280 billion worth of secured non-convertible bonds in a private placement within the first quarter of this year to sell to Maritime Bank. The five-year bond has a face value ofVND1 million and carries a fixed coupon of 7.7 percent per annum for the first year and floating coupons equaling to the mean ofl2-month dong-denominated deposit rates at BIDY, VietinBank, Vietcombankand Maritime Bank for the remaining payments. TMS said the proceeds from the bond sale will be used to fund its projects, supplementworking capital and pay debt. TMS earned revenue of VND487.7 billion in 2015, a year-on-year rise of 10 percent, and net profit ofVND155.2 billion, up 12.4 percent.

* Construction firm Vimeco Company (VMC) looks to attain revenue ofVNDl.05 trillion in 2016, up slightly from a year earlier, and pre-tax profit of VND31 billion, unchanged from last year. VMC plans to pay a dividend of 15 percent of par value for 2016. Last year, VMC obtained VNDl.07 trillion in revenue and VND24.04 billion in net profit, up 21  percent each versus 2014.

* Construction firm Song Da 505 Company (S55) has set a target of attaining revenue ofVND555.5 billion in 2016, a 20 percent pickup against 2015, and net profit of VND36.4 billion, down 27 percent. It plans to pay a 2016 dividend in cash for shareholders at 15 percent. Last year, S55′s revenue stood atVND463.4 billion, a 10 percent increase against 2014, and net profit reached VND49.7 billion, up 102 percent.

* Budget carrier Jetstar Pacific said on Saturday that they will offer services betweenHueand Nha Trang, two tourist hubs in the central and south-central provinces of Thua Thien-Hue and Khanh Hoa respectively, on Monday, with two flights on the Airbus 320-180 each week.

* A recent inspection has showed that the Deposit Insurance of Vietnam had spent over VND 48 billion (US$2.1million) on salary payment against regulations from 2011 to 2013.

 

Category: Business, Vietnam

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