Business Briefs 05 November 2018

05-Nov-2018 Intellasia | | 9:18 AM Print This Post

* PetroVietnam Gas Corporation (GAS) and Alaska Gasline Development Corporation (AGDC) have signed a letter of intent to cooperate in bringing liquefied natural gas (LNG) from the U.S. to Vietnam. AGDC is a company under Alaska’s state authority, which is developing a US$43 billion LNG project. According to Viet Capital Securities Company, this is an opportunity for GAS to import LNG from 2023 onward to boost its sales volume as well as meet the rising demand of gas- fired power plants in Vietnam.

* Hung Thinh Incons Company has received approval from the Hochiminh Stock Exchange to trade shares on the southern bourse under the code HTN. The firm will float 25 million shares on the bourse on November 12. Currently, Hung Thinh Corporation is the biggest shareholder at the firm with a 25% stake.

* Sao Mai Group, a unit related to Deputy General Director Nguyen Van Hung of I.D.I International Development and Investment Corporation (IDI), has registered to buy 27 million IDI shares within November to raise its ownership from 51.1 % to 66%. The investor is expected to spend over VND330 billion on the purchase given IDI market price of around VND 12,000 currently.

* Truong Thanh Real Estate and Construction Company (TEG) has decided to transfer 175,000 shares, equal to a 29.7% stake, at Agritec Company, with the selling price not lower than VND10,000 each share. It will conduct the sale within the last quarter of2018.

* Construction 47 Company (C47) saw its revenue losing 17% year-on-year to VND221.7 billion in the third quarter of 2018 while its after-tax profit reaching VND17 billion, down 41 % over the same period last year.

* Nafoods Group Company (NAF) has announced that November 7 will be ex-dividend date to pay a 2016 share dividend for its shareholder. The company plans to issue 3.2 million additional shares to pay the dividend at a 1-for-lO ratio’meaning that shareholders will recive one new share for every 10 shares held.

* Agribank has plans to auction nearly 5.3 million shares of tourist enterprise Agritour at the starting price of VND17,100. Headquartered in Vung Tau City, Agritour has a chartered capital ofVND230 billion and operates in the tourism, export and import sectors.


Category: Business, Vietnam

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