Business Brief March 10

10-Mar-2015 Intellasia | | 3:52 PM Print This Post

* PetroVietnam Premier Recreation Company (PVR) has registered to buy 544,000 shares of Education Financial Investment Company (EFI) to raise its stake by nearly five percentage points to 7.6 percent over one month starting from March 10.

* Vinalink Logistics Company (VNL) plans to pay a 2014 second round dividend in cash for shareholders at 8 percent on April 15.

* Chuong Duong Company (CD C) pas added around 747,600 shares on the Hochiminh Stock Ex-change to raise its total outstanding volume to over 15.7 million shares. The new shares will be tradable on March 16.

* Hoc Mon Trade Company will offload 156,000 shares of HAl Agrochem Company (HAl) to lower its stake to 94,000 shares from March 10 arid April 8.

* The central bank has allowed Vietnam Asset Management Company (VAMC) to issue a maximum of VND80 trillion worth of special bonds with tenors of five years or shorter. The bond sale will take place some time this year. VAMC will decide tenors for different bonds based on the bad debts it has purchased from banks.

* Vietnam property conglomerate Vingroup plans to invest $1 billion in building a complex comprising a park, villas and a golf course on an island off the northern port city of Hai Phong, the Dau Tu newspaper reported, citing Vingroup officials after a recent meeting with the municipal authority. Construction is slated to begin in April for completion in 2019, the report said.

* Mai Xuan Dung, deputy general director of Vietnam National Reinsurance Corporation (VNR), will acquire an additional 37,500 VNR shares to scale up his ownership to over 74,900 shares (0.06 percent) from March 9 to April 6.

* PetroVietnam Power Engineering Company (PPE) plans to issue 10 million shares to raise its registered capital by six-fold to VND120 billion (US$5.5 million) in two options. For the first option, PPE will sell six million shares to existing shareholders at a 1:3 ratio at VND10,000 each and auction four million shares at the starting price ofVND 10,200 each on the Hanoi Stock Exchange or via a financial institution. For the second option, the firm would sell ten million shares to existing shareholders at a 1:5 ratio at VND10,000 each. PPE targets pre-tax profit of some VND9 billion on revenue ofVND96.7 billion this year, up 108 percent and 5.3-fold year- on-year respectively, Viet Capital Securities Company reports.

* Samsung Vina last week introduced in the Vietnamese market the Galaxy Tab3 V, a seven-inch tablet designed for users aged 3-18. Priced at around vND3.5 million per unit, the tablet powered by Android 4.4 KitKat features many applications for study and entertainment demands such as Samsung Kidstime and Classbook.

* The government of Ha Nam Province has granted an investment certificate to KMW Vietnam Co., Ltd to develop a telecom device production project worth $100 million at Dong Van I Industrial Park, according to The venture between KWM and Telecom of South Korea will build the factory within 36 months. This is the second biggest PDI project by capital approved inVietnamin the year’s first two months.

* Co Chien bridge, which connects the Mekong Delta provinces of Ben Tre and Tra Vinh, is 83 percent complete and will be ready by May, cites information from a visit to the construction site last Saturday by deputy prime minister Hoang Trung Hai. The 1.6-kilometer bridge costs over VND2.3 trillion, with the investor contributing 54.7 percent and the State budget the remainder.


Category: Business, Vietnam

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