Business Briefs 02 Jul 2018

02-Jul-2018 Intellasia | | 8:29 AM Print This Post

*Saigon Cargo Services Company (SCS) has received approval to float nearly 50 million shares on the Hochiminh Stock Exchange. The firm is trading its shares on the market for unlisted public enterprises, or UPCoM, with its share price hovering at more than VND181,OOO each, SCS also has plans to issue 1.14 million shares in an employee stock ownership plan in the next three years,

* Thanh Cong Textile Garment Investment Trading Company (TCM) has transferred 8.9 million shares in Thanh Cong Securities Company, or a 24.75% stake, to Sai Gon 3 Investment Consulting, Trading and Service Company.

* FLC Group Company (FLC) has announced plans to buy a 49% stake, or 980,000 shares, in Rosland Joint Stock Company at the minimum price of VND 100, 000 each. The firm will also seek approval from its shareholders to diversify its business lines next month. Previously, Db xtrackers FTSE Vietnam ETF (FTSE), among the most active foreign-run exchange-traded funds (ETFs), announced that it would delete the stock ofFLC from the FTSE Vietnam Index, the underlying index of FTSE Vietnam UCITS ETF, in the second-quarter review while adding no others to the index.

* Khanh Hoi Investment and Services Corporation (KHA) looks to make a net profit ofVND47 billion in 2018, up 13% against the previous year, but its revenue is projected to drop 18% to VND88 billion, It plans to work with Saigon Port Joint Stock Company (SGP) to hasten the administrative procedures associated with a leasing project in HCMC. In May, the Hochiminh Stock Exchange delisted the listing of 14.12 million shares ofKHA, which is part of KHA’s plan to move its shares to the market for unlisted
public enterprises, or UPCoM.

* Minh Phu Seafood Corporation (MPC) has received approval to raise its foreign ownership limit to 100%, said Viet Capital Securities Company. The firm did not disclose the timeframe for the application of the new limit. Currently, foreign investors are holding a 4,51 % stake in MPC, with a 4,18% stake owned by Earls Court Enterprises Limited, In the first five months of this year, MPC booked revenue ofUS$225,8 million from exporting 19,466 tons of products, up 1.6% and 11.5% year-on-year, respectively,


Category: Business, Vietnam

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