Business Briefs 10 Jan 2019

10-Jan-2019 Intellasia | | 9:29 AM Print This Post

* Endurance Capital Vietnam Ltd, an organization related to Christopher Bertram Brinkerborn Beselin-a board member of VNDirect Securities Company (VND), plans to sell 870,000 VND shares to cut its ownership to 2.5 million shares, equal to 1.19%. Transactions are planned for January 11 to February 9.

* PetroVietnam Ca Mau Fertilizer Company (DCM) estimated its pre- tax profit at VND685 billion last year, fulfilling 100% of the year’s target. Its revenue reached VND7 trillion in 2018, beating the year’s plan by 28%.

* Shinhan Vietnam Securities Company has decided to buy 200 billion worth of certificates of deposit, including VND 100 billion of finance company Home Credit and VND100 billion of Mirae Asset Company. The purchase aims to serve the brokerage firm’s business activities.

* Century Fiber Company (STK) has announced the issuance of 10.8 million shares, including nearly 4.2 million shares to pay a 2017 dividend for shareholders at a 7-for-100 ratio, nearly six million for sale to existing shareholders atVND10,000 each and 600,000 shares offered to its staff.

* VNSteel- HCMC Metal Corporation (HMC) has decided to take out a short-term credit worth VND600 billion from Vietinbank’s HCMC branch to supplement its working capital in 2019. The loan will have a tenor of 12 months.

* Vietnam Electrical Equipment Corporation (GEX) has registered to buy five million shares of Hanoi Electro-mechanical Manufacturing Company (HEM) from January 8 to February 5. GEX wants to raise its stake in HEM to 79.8%, or 29.2 million shares, from the current 66.16%, equivalent to 24.2 million shares, after the transaction. In related development, HEM plans to issue 1.9 million shares to swap with shares of Vietnam-Hungary Electric Machinery Manufacturing JSC in the first quarter of this year, increasing its registered capital by 5.12% to VND387 billion.

* Individual investor Tran Thi Thu Ha has become a major shareholder of Vietnam Gas and Chemicals Transportation Corporation (PCT) for acquiring nearly 3.7 million shares at the firm. Ha is now holding a 16% stake in the enterprise.

* Vietnam Germany Steel Pipe Company (VGS) has announced January 17 as the record date to pay a share dividend at a I-for-1.02 ratio. The firm will issue over 4.5 million shares to facilitate the payment.


Category: Business, Vietnam

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