Business Briefs 03 March 2020

03-Mar-2020 Intellasia | | 9:57 AM Print This Post

* Hoa Binh Rubber JSC (HRC) plans to reduce their rubber cultivation acreage to develop industrial park and hi – tech agriculture projects. The firm has 5,089 hectares under rubber farming in Ba Ria-Vung Tau Province’s Xuyen Moc District. HRC also holds stakes in rubber farms in the northern mountainous province of Lai Chau and in some foreign countries, including Laos and Cambodia. Last year, HRC made VND161 billion in net revenue, down 9% year-on-year, and VND7.8 billion in before-tax profit, down 12%.

* Duong Ngoc Minh, chairman of Hung Vuong Joint Stock Corporation (HVG), told a shareholder meeting on February 28 that the firm would sell 20 million shares to Thaco and others, with each share priced at VND10,000. The seafood processing company will use the proceeds from the share sale, estimated at VND200 billion, to increase its working capital.

* Hoang Huy Investment Services JSC (HHS) will hold a shareholder meeting on March 7, where it could announce its 2020 targets of VND710 billion in revenue and VND235 billion in after-tax profit, up 20% against 2019. The firm is planning to pay a 2019 cash dividend of 4%. With its outstanding 250 million shares, HHS will spend some VND100 billion on the payment.

* Visicons Construction and Investment JSC (VC6) has announced March 24 as the ex-dividend date to pay a 2019 cash dividend of 9%. The payment date is slated for May 18.

* Nguyen Thi Quynh Anh, the daughter of Dang Nhi Nuong, chairwoman American Vietnamese Biotech Inc. (AMV), has registered to buy two million AMV shares, or a 5.3% stake, from March 2 to April I.

* HCMC Infrastructure Investment JSC (CII) will purchase over three million shares of CII Infrastructure Construction Company (CEE) from March 5 to April 3, to raise its ownership in CEE to 30 million shares, or a 74.9% stake.

* Some 28.8 billion shares of Binh Thuan Agriculture Service JSC, or Bitagco, will be traded on the Hochiminh Stock Exchange (HOSE) from March 18, under the code ABS, according to an announcement by HOSE. The starting price of ABS shares on its first trading day is VND10,800.


Category: Business, Vietnam

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