Business Brief March 23

23-Mar-2016 Intellasia | | 3:46 PM Print This Post

* Hoa Sen Tourism and Investment Company has registered to buy two million shares of Hoa Sen Group (HSG) to raise its ownership to 27.1 million shares (20.7 percent) over one month starting from March 24.

* Ireland-headquartered DC Developing Markets Strategies PLC will offload 50,000 shares of Vietnam Dairy Products Company (VNM) to reduce its stake in VNM to 266,700 shares (0.02 percent) from March 23 to April 21.

* Viet Nhat Medical Instrument Company (JVC) said it is looking to attain VND456 billion in revenue this year. But it did not unveil its profit forecast. In 2015, JVC posted revenue of VND404.6 billion, nearly two times lower than in the previous year, and incurred losses of VND620.3 billion.

* Individual investor Le Van Hieu for the first time will be buying 300,000 shares of Na Ri Hamico Mineral Company (KSS) from March 23 to April 1.

* An Phat Plastic & Green Environment Company (AAA) looks to obtain VND2.1 trillion in revenue and VND100 billion in net profit in 2016, up 2.5-fold year-on-year. The firm plans to pay a dividend of VND1,000-1,500 per share for 2016. AAA plans to issue 2.4 million shares to revise up its chartered capital. It will use 400,000 shares as bonuses for employees and sell the remaining two million shares to staff at VND 13,000 each. The shares will be transferable. Last year, the company posted revenue of VND 1.6 trillion, down 16 percent versus 2014, and net profit of VND40 billion, a drop of 3 percent.

* MB Securities Company (MBS) will make its debut on the Hanoi Stock Exchange on March 28, offering some 122.1 million shares at the reference price of VND10,000 each. The Hanoi-based firm has total chartered capital of VND1.2 billion.

* Transimex-Saigon Company will be buying 762,800 shares of Vinafreight Company (VNF) to increase its stake in VNF from 37.7 percent to 51.1  percent within one month starting from March 24.

* Pham Van Thanh, chief accountant of Song Da Cao Cuong Company (SCL), will acquire 50,000 SCL shares to raise his holding to some 71,800 shares (0.5 percent) between March 24 and April 21.

* Honda Vietnam has introduced multi-purpose vehicle Odyssey, which comes with a suggested price of some VND2 billion. The seven-seat family car imported fromJapanfeatures Earth Dreams Technology delivering fuel efficiency.

* FLC Group has commenced construction on a resort complex, FLC Halong, covering 224 hectares inHalongCityin thenorthern provinceof Quang Ninh, the Vietnam News Agency reports. The VND3.4 trillion (US$147 million) complex will feature an 18-hole golf course, a 1,300-seat convention hall, a five-star hotel, a luxury village area, clubs and pools. The golf course is scheduled for completion late this year.

* Vinaconex Water Supply Joint Stock Company, the developer of a project to supply clean water from the Da River Water Plant in the northern province of Hoa Binh to Hanoi, which involves a pipeline that had either snapped or leaked for 10 times in the past 35 months, has confirmed that a Chinese company had won its bid to supply ductile iron pipes.

* Dien Quang Lamp Co, one of Vietnam’s leading lighting equipment manufacturers, on Tuesday inked a deal with the Integrated Circuit Design Research and Education centre under the Vietnam National University-HCM City to produce made-in-Vietnam computer chips.


Category: Business, Vietnam

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