Business Briefs 08 November 2019

08-Nov-2019 Intellasia | | 8:53 AM Print This Post

* West Ocean Invest JSC, a major shareholder of GTN Foods JSC (GTN), will sell more than 41 million GTN shares through matching and put- through transactions, or other measures from November 8 to December 7. If successful, the company would reduce its holding in GTN to 12%, or 30 million shares.

* Pomina Steel Corporation (POM) said it incurred a consolidated loss of nearly VND119 billion in the third quarter of this year, compared to a consolidated net profit of VND27 billion a year earlier, due to the decrease in gross profit and the increase in financial, management, and sale costs, POM’s net revenue fell 14.5% year-on-year to VND2.9 trillion while its gross profit plummeted 91.9% year-on-year to VND9.29 billion in the quarter. POM suffered a consolidated loss of VND 682.3 million on net revenue of over VND9.1 trillion between January and September this year, versus a consolidated net profit of VND1.2 billion on net revenue of VND10.1 billion in the same period of 2018.

* Saigon Thuong Tin Commercial Bank, or Sacombank (STB), signed an agreement with the Vietnam Textile and Apparel Association on November 4 to support the latter’s activities to boost the development of the textile and garment industry. The bank will also give advice and provide credit at preferential interest rates and financial and banking solutions to help textile and garment enterprises optimize their business activities and enhance their competitiveness.

* Duc Thanh Wood Processing JSC (GDT) plans to pay a 2019 first round dividend of 20% in cash for its shareholders. The payment is expected to be made at the end of December.

* The State Capital Investment Corporation (SCIC) offloaded its entire 2.5 million shares, or a 31.88% stake in Lam Dong Pharmaceutical Company (LDP). Meanwhile, individual investor, Nguyen Anh Kim acquired the same amount of shares. Earlier, she did not own any LDP shares.

* Hai Minh Corporation (HMH) has chosen December 10 as the record date to pay dividend in cash at 10%. The payment will be made from December 25.


Category: Business, Vietnam

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