Business Briefs 04 May, 2018

04-May-2018 Intellasia | | 4:07 PM Print This Post

* HCM City Securities Corporation (HCM) maintained its market lead with a 12.3 percent share in the first quarter, of which retail brokering, institutional

brokering and proprietary trading contributed 7,3 percent, 3,8 percent and 1.2 percent respectively. The firm has approved a cash dividend ofVND 1,500 per share for 2017.

HCM has announced its 2018 capital increase plan, which will be driven mainly by a rights issue and an employee stock ownership plan. Proceeds will be used to increase margin lending and proprietary trading, Both plans will be done at an issue price of D14,000 per share.

* Vincom Retail Company (VRE) is going to open a Vincom Plaza commercial centre in Hue City and another Quang Binh Province this month. The firm has 46 shopping centers in 24 provinces and cities.

* Shareholders of No Va Land Investment Group Corporation (NVL) have approved a plan to convert 6.8 million preferred shares into 20.5 million

common shares in the second half of2018, They have also passed an employee stock ownership plan with the number of new shares representing 2,5 percent of

the total outstanding volume, The price would not be lower than VND 1 0,000 per share. The lock- up period was not disclosed by the management.

* Shareholders of Power Construction Company (PC 1) have approved a stock dividend ratio of 100-for-15 for 2017 while the management proposed a stock dividend ratio oflOO-for-20 for this year. PC1 is planning to develop two new hydropower projects, Song Nhiem and Dien Bien, while the company is still working on a merger and acquisition plan for an electrical equipment producer, said Viet Capital Securities Company.

* Vinacafe Bienhoa Company CVCF) made a consolidated net profit of VND 146.4 billion in the first quarter of this year compared to a loss ofVND37

billion in the same period of2017. Its revenue surged 73.2 percent year-on-year to VND726.5 billion in the quarter.

* LienVietPostBank (LPB) reported a net profit ofVND417 billion in the first quarter of2018, an increase of 19 percent compared to the same period

last year. Loans grew 7.5 percent compared to the end of2017 to VND108 trillion while customer deposits grew 12.5 percent to VND144 trillion.


Category: Business, Vietnam

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