Business Brief January 05

05-Jan-2016 Intellasia | | 3:09 PM Print This Post

* The Ministry of Finance has appointed Nguyen Due Chi, 46, as chair of State Capital Investment Corporation (SCIC), replacing Tran Van Hieu. SCIC manages 230 State-held accounts’ with a total book value of VND17 trillion. SCIC has obtained aftertax profit of over VND30 trillion during its 10 years of operation. The firm’s revenue has jumped 65.4 times and its total assets have soared 13.8 times since its establishment. In the next five years, SCIC plans to increase its total assets to $22.5 billion, the local news site VnExpress reports.

* Vietnam Fumigation Company (VFG) has announced January 12 as the ex-dividend date to advance a 2015 second round dividend in cash for shareholders at 10 percent. Payments will be made on January 28.

* Individual investor Nguyen Van Phuong has registered to sell his entire stake totalling one million shares of Quang Binh Import & Export Company (QBS) over one month starting from January 5.

* PVI Asset Management Company has for the first time registered to buy 11.9 million shares of PV2 Investment Company (PV2) between December 31 and January 29.

* One Communication Technology Corporation (ONE) will issue 500,000 shares to pay a 2014 dividend for shareholders at a 10:1 ratio. The-company will issue another three million shares for its existing shareholders at a 10:6 ratio at VND10,000 each to raise its chartered capital. Fractional and unsold shares, if any, will be sold to other investors for at least VND10,000 each. The proceeds from the share issuance will be added to its working capital to repay loans. Share purchase rights can be transferred once from January 15 to 24. The firm picks January 8 as the record date for the share issuance.

* Ben Tre Pharmaceutical Company (DBT) has added neariy700,000 shares on the Hanoi Stock Exchange to revise up its total outstanding volume to around 7.7 million shares. The new shares will be tradable on January 6.

* Toan Viet Investment Company has registered to sell its entire stake amounting to 82,100 shares (1.5 percent) of Vinafreight Company (VNF) within one month starting from December 31.

* The cooking gas retail price in January dropped by 10 percent against December to VND280,000 per 12-kilogram container, a decline of VND2,583 per kilogram, according to gas trading firms. The prices of 45-kilogram and 50-kilogram containers are now VND1.07 million and VND1.19 million each respectively. The cooking gas price fall reportedly resulted from a drop of $100 per tonne in the January contract price to $367.5 per tonne. Last year the domestic gas price was revised up five times, and lowered six times.

* The price of steel has been lowered by VND200,000 ($9) a tonne to VND10.3 million ($458) per tonne in the Vietnamese market.

* Petrol prices slightly decreased by 343 to 865 dong a litre on Monday. $1 equals around VND22,500.

* Becamex IDC will conduct an IPO in the first quarter of 2016. The total assets of Becamex IDC are worth VND113 trillion ($5 billion).


Category: Business, Vietnam

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