Business Briefs 10 Oct 2019

10-Oct-2019 Intellasia | | 9:02 AM Print This Post

* Development Investment Construction JSC (DIC) has reported pre-tax profit of an estimated VND216 billion in the third quarter of 2019, showing a threefold increase against the same period last year. The firm looks to obtain over VND1.2 trillion from the transfer ofits real estate projects in the fourth quarter. DIG has cut its debt to the lowest level since 2012 following its equity hike, according to

* Traphaco Company (TRA) on October 7 launched a dairy product line, New Zealand Gold, which was imported from New Zealand and exclusively distributed in the Vietnamese market.

* Agribank Securities Company, a major shareholder of Vinaconex Investment and Tourism Development JSC (VCR), is selling over 1.04 million VCR shares between October 8 and November 6. The shareholder is holding over 4.64 million shares, or a 13.11 % stake.

* Taseco Air Services JSC (AST) plans to spend VND90 billion paying its 2019 first round dividend of 20% in cash on January 8, 2020. Between January and June, Taseco booked some VND545 billion in net revenue, up 30% year-on-year, and VND139.5 billion in pre-tax profit, up 42%.

* After its first launch of covered warrants with positive results, HCMC Securities Corporation (HSC) on October 8 offered five more covered warrants, including FPT, MBB, MWG, VNM and VRE, with all of them carrying a term of six months.

* Petrocapital and Infrastructure Investment JSC, or Petroland (PTL), has approved a decision dismissing Bui Minh Chinh from the post of Petroland Chairman. Chinh has been detained for his alleged abuse of power which led to huge losses for the company.

* Nguyen Thanh Tuyen, chairman of MST Investment Corporation (MST), has registered to buy 500,000 MST shares from October 10 to November 8. He is currently holding over five million MST shares, or 14.11 %.

* The Hanoi Stock Exchange (HNX) has announced a Iist of 115 stocks ineligible for margin trading in the fourth quarter of 2019, with effect from October 8. Many of them had good liquidity, including securities firm PVX, property firm HUT and construction firm IDJ with over 400,000 shares changing hands per session from October 2 to 8.


Category: Business, Vietnam

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