Business Briefs 07 March 2019

07-Mar-2019 Intellasia | | 9:32 AM Print This Post

* The Ministry of Construction will auction over 80.57 million shares of Viglacera Corporation (VGC) with the starting price not lower than VND23,000. The bidding is scheduled to take place at the Hanoi Stock Exchange on March 29. From June 27 to July 20, 2018, the ministry failed to sell the shares due to the bids being lower than expected, It is now holding over 241.9 million shares in the building material firm, or a 53.97% stake.

* Tran Anh Digital World Company (TAG) under Vietnam’s largest mobile phone retailer Mobile World Investment Corporation (MWG) reported an audited loss of VND4.1 billion in April-December of 2018, compared to the loss of VND63 billion from April 2017 to March 2018. TAG’s revenue dropped 55% year-on-year to VND2,27 trillion in the period, TAG officially merged with Dien May Xanh electronics store chain under MGW last year with the ownership of MWG in TAG reaching 99.3%.

* Sao Mai Group (ASM) has announced to issue over 16.9 million shares to pay a dividend for shareholders at 7%. The record date is set for March 20. Since mid-2018, the ASM share price has plunged nearly 45% to around VND8,300.

* Vincom Retail Company (YRE) has announced plans to open 13 new retail centers this year, taking to 79 the total number of its retail centers in 42 provinces and cities. The new malls will be developed under four Vincom Retail brands – Vincom Center, Vincom Mega Mall, Vincom Plaza and Vincom+.

* Bui Minh Tuan, a board member of Transimex Company (TMS), has registered to buy one million TMS shares to raise his ownership to over 14.6%, Currently, Tuan has nearly 5.95 million shares at TMS, or 12.5% of the total.

* Lotte Vietnam Finance Company Limited has become the first South Korean financial institution to become an official member of the Vietnam Banking Association, said The firm entered Vietnam in September 2018 with 100% capital from Lotte Card. It launched its first consumer loan service in December 2018 and plans to issue credit cards for local clients in the first quarter of this year.


Category: Business, Vietnam

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