Business Briefs 06 January 2020

06-Jan-2020 Intellasia | | 8:41 AM Print This Post

* Apax Holdings Joint Stock Company (IBC) has passed a plan to borrow VND350 billion from Apax English Corporation for its investment, and purchase 6.6 million shares from Apax English to raise its holding in the Apax English center chain from 68.91 % to 79.69%. The center chain has 125 centers nationwide, serving up to 60,000 learners.

* Real estate company First Real (FIR) plans to issue 7.8 million bonus shares worth VND78 billion ataratio of 60%.The record date is slated for January 14. FIR obtained VND328 billion in revenue in 2019, surging 86% against the 2018 figure. The firm looks to book net revenue of VND400 billion and after-tax profit of VND 120 billion this year up 22% and 29%, respectively, against the 2019 results.

* Cuong Thuan IDICO Investment and Development Company (CTI) will issue VND100 billion worth of bonds and buy back 15-20 million treasury shares in the first quarter of 2020. As planned this year, CTI will develop several projects, including Phuoc Tan Commune Residential Area and Tan An Industrial cluster.

* Kienlongbank will roll out a promotional program for clients opening savings accounts at the bank’s transaction offices. The program is set to run from January 6 to February 22, allowing clients to receive lucky money if they make deposits of VND 10 million or more. Besides this, when making transactions at Kienlongbank, clients will be entitled to a series of promotional programs and offered multiple gifts, besides preferential policies.

* Pham Hung, chairman and general director of Song Hong Construction Company (ICG), will purchase 2.6 million ICG shares from January 6 to 22. Hung is holding over 1.22 million shares, or a 6.95% stake.

* Tien Phong Commercial Joint Stock Bank (TPB) has announced its 2019 business results, with its pre-tax profit amounting to over VND3.8 trillion, up 71.3% against 2018 and 21 % higher the 2019 target. Its capital mobilization totaled over VND147 trillion, up 24% against 2018.

* Truong Thanh Furniture Corp (TTF) has approved a plan to contribute VND30.6 billion accounting for 51 % of chartered capital, to establish Central Wood JSC.


Category: Business, Vietnam

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