Business Briefs 03 May 2019

03-May-2019 Intellasia | | 9:06 AM Print This Post

* Vingroup Joint Stock Company (VIC) generated consolidated revenue of more than VND21.8 trillion (US$936.9 million) and pre-tax profit of VND1.9 trillion in the first quarter of this year. According to a report on its performance in the quarter, its retail and real estate revenues reached more than VND7 trillion and VND 12.3 trillion, surging over 70% and nearly 50% year-on-year, respectively. As of March 31, Vingroup’s assets hit VND314.1 trillion and equity, VND102.4 trillion, marking a respective increase of 9.1 % and 3.4% over the end of last year.

* Nguyen Hung Cuong, vice chairman of Development Investment Construction JSC (DIG), has purchased more than 2.16 million DIG shares out of the registered volume of five million shares. After the transaction, his ownership at DIG was raised to more than 9.29 million shares, or 3.68%.

* The National Citizen Bank (NCB) looks to raise its charter capital to VND 10 trillion in 2019-2020 by issuing more shares for existing shareholders and employees and seeking new investors with good financial capacity. The bank also hoped its profit to soar 78% to VND400 billion this year, while its total asset value is expected to exceed VND84 trillion. Last year, NCB generated net profit of VND224 billion. Especially, its mobile banking service NCB Smart has attracted more than 19,200 users, rocketing 195% against 2017.

* VN Steel-HCMC Metal Company (HMC) will pay the remaining dividend for 2018 in cash at 25% for its shareholders from May 30. On February 20, HMC paid a 2018 second round dividend in cash for its existing shareholders at 10%. The company will spend a total of VND73.5 billion paying the 2018 cash dividend.

* Masan Group Corporation (MSN) has plans to venture into the retail sector, combining traditional, modern and online retail channels, and offering personal and family care products. MSN also expects to earn US$200 million from beverage sales by 2022.

* The State Bank of Vietnam has purchased some US$8.35 billion ince the beginning of this year thanks to solid foreign inflows. The purchase lifted foreign reserves to a record high of US$65.85 billion.


Category: Business, Vietnam

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