Business Briefs 06 Aug 2019

06-Aug-2019 Intellasia | | 8:39 AM Print This Post

* The State Capital Investment Corporation (SCIC) will hold an auction to offload its entire 12 million shares or 34.71% at Domesco Medical Import Export Joint Stock Corporation (DMC) on August 30. The shares will have the starting price of VND119,600 each. Investors keen on the auction can submit applications to participate until 16 p.m. on August 20. SCIC will respond in writing to investors within two days after receiving the applications if they are ineligible for the auction. Abbott Laboratories (Chile) Holdco SpA, which is now DMC’s largest shareholder, holding 51.69%, is forecast to buy SCIC’s shares at DMC.

* Truong Anh Tuan, chairman of Hoang Quan Consulting-Trading-Service Real Estate Corporation (HQC), has registered to buy an addition-all 10 million HQC shares via order-matching and put-through transactions from August 7 to September 6. If the transactions are done, his ownership at the firm would rise to over 40.35 million HQC shares, or 8.47%. From May 9 to 15, Tuan bought 10 million HQC shares.

* Vietnam Technological and Commercial Joint Stock Bank (TCB) has reported a record pre-tax profit of VND5.7 trillion in the first half of this year. The bank has got the State Bank of Vietnam’s approval to apply Basel II standards.

* Hoang Ha Investment Production & Development One Member Co., Ltd has registered to buy 1.6 million shares of Son Ha International JSC (SHI) from August 7 to September 5. After the transaction, Hoang Ha will hold 10.1 million SHI shares. In related news, SHI Vice Chairman Le Hoang Ha has registered to sell 1.6 million SHI shares. If the transaction is done, Ha, who is also the owner of Hoang Ha Investment Production & Development One Member Co., Ltd, will be no longer a shareholder of SHI.

* PetroVietnam Power Corporation (POW) generated an electricity output of 13.3 billion kilowatt hours in the January-July period, equivalent to 62% of the full-year target. The corporation reported revenue of more than VND20.8 trill.on and after-tax profit of over VND1.8 trillion, reaching 64% and 80%, respectively, of the targets set for this year.

* TNG Investment and Trading JSC (TNG) will put a new cotton plant into operation this quarter, which is deemed the largest in the north. TNG Chairman Nguyen Van Thoi said a majority of materials used for the plant are locally-produced. The company earned over VND2 trillion in revenue and VND93 billion in after-tax profit in the first half of 2019, up 37.4% and 38.6%, year-on-year, respectively.


Category: Business, Vietnam

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