Business Briefs 03 Jan 2019

03-Jan-2019 Intellasia | | 9:12 AM Print This Post

* PetroVietnam Transport Corporation’s (PVT) 2018 preliminary business results show its revenue rises 26% against the previous year to VND7.7 trillion and its pre-tax profit edges up 35.6% to D910 billion. The strong growth rates are attributed to a higher rate of oil tanker fleet utilization, a solid floating oil storage segment, and higher-than-expected coal transport revenue and profit from liquidating the Hercules crude tanker.

* Japan sia MB Capital has announced to buy three million shares in Military Bank (MBB), or a 0.14% stake in the lender. Transactions will take place from January 4 to February 1, 2019.

* Nguyen Hung Cuong, vice chairman of Construction Investment and Development Company (DIG), will be buying two million DIG shares, thus raising his ownership to over 7,1 million shares, or 2.8%.

* Viglacera Corporation (VGC) plans to move its listing of over 448 million shares to the Hochiminh Stock Exchange from the Hanoi Stock Exchange in early 2019. The firm has yet to announce any timeline for the plan. Under VGC’s equitization scheme approved by Prime Minister guyen Xuan Phuc, the Ministry of Construction will offload its entire 54% stake in VGC, equivalent to 241.9 million shares, by the firm’s general shareholder meeting in April 2019.

* Vicostone Company (VCS) said its net profit might jump 20% year-on-year to VND331.9 billion in the last quarter of 2018 with its revenue put at VND1.3 trillion, up 16.7%. In 2018, its net profit is likely to inch up 0.1 % versus the previous year to VND 1.1 trillion, and its revenue could rise 3.1 % to VND4.5 trillion, accounting for 86% of

the full-year target. According to Viet Capital Securities Company, the stone producer has faced tougher competition from Chinese rivals in 2018 in its major markets, including the U.S., Canada and Australia, which make up 99% of its revenue.

* State-run coal and mineral group inacomin has revised up the buying price of over 3.4 million shares ofVinacomin-Ha Tu Coal Company (THT) to VND8,800 per share. This is the second adjustment after Vinacomin raised the buying price from VND6, 700 to VND8,000 earlier this year.

* Sai Gon Plastic Packaging Company (SPP) plans to issue 16.8 million shares, 67.2% ofits outstanding shares, for existing shareholders at VND10,OOO each. The firm expects to raise VND168.8 billion from the debt sale and use the proceeds to invest in Long An plastic factory and supplement its working capital. The SPP share price is around VND4,OOO.

* Vinhomes Company (VHM) has announced to transfer its entire 97.9% stake in Berjaya Vietnam International University City Co., Ltd, to a subsidiary – Thai Son Construction Investment Company. The stake is valued at over VND 11. 7 trillion.

* Van Phu- Invest Company (VPI) has decided to inject nearly VND47 billion into Hung Son Investment Company, thereby spurring its chartered capital to over VND91. 7 billion, VPI is active in the real estate sector.

* Sao Mai Group (ASM) will issue nearly 17 million shares to pay a 2017 dividend for shareholders at 7%. The ASM share price is now around VND8,800.

* Le Xuan Nghia, chairman of NHP Production Export-Import Company – a unit holding a 19.23% stake at Truong Giang Investment and Construction (TGG), has offloaded over 1.4 million shares at TGG. Nghia currently owns 1.3 million shares at TGG, or a 4.7% stake.

* Thai Hung Trading Company has registered to sell 18.4 million shares of Thai guyen Iron and Steel Company (TIS). The investor is now holding 36.8 million shares at TIS, or a 20% stake. Earlier, it spent over VND400 billion acquiring shares of the enterprise.

* Haiphong Water Supply Company (HPW) has decided to take out a VND 125-billion loan from Vietcombank to fund a number of water supply projects. The credit will have a tenor of 120 months. At the end of September 30, 2018, HPW reported debts at three local lenders with a combined value ofVND215 billion.

* Dong Nai Food Industry Corporation, or Dofico, has registered to sell over 8.6 million shares of Bien Hoa Building Materials Production and Construction Company (VLB) within this month, thereby cutting its ownership to 49%. Currently, Dofico is a major shareholder at VLB with nearly 32 million shares, equivalent to a 67.5% stake.


Category: Business, Vietnam

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