Business Briefs 11 February 2020

11-Feb-2020 Intellasia | | 9:28 AM Print This Post

* The Hochiminh Stock Exchange has added the stock codes of petroleum group Petrolimex (PLX) and PetroVietnam Power Corporation (POW) to its large-cap VN30 basket. The two new codes will replace PetroVietnam Fertilizer and Chemicals Corporation (DPM) and logistics firm Gemadept (GMD). The southern bourse also announced a list of substitute stocks for the VN30 basket, including TPBank (TPB), ceramic and tile producer Viglacera (VGC) and Khang Dien House Trading and Investment Company (KDH).

* Prudential Vietnam is providing extra insurance protection for customers affected by the Wuhan coronavirus with coverage of up to VND20 million, It has launched the Special Healthcare Program for customers infected with the virus in Vietnam in the period from February 6 to April 30, offering an additional cash benefit for customers based on the duration of medical treatment.

* Hoa Phat Group (HPG) looks to ship 400,000 tons of construction steel abroad this year, equivalent to nearly 10% of its total sales target. HPG exported more than 265,000 tons of construction steel last year, up 11.3% year-on-year. The local firm also exported over 25,000 tons of steel pipes and coated steel sheets last year and plans to boost this figure by 20% to 30,000 tons this year.

* The State Bank of Vietnam has allowed Viet Capital Bank to open five branches and 12 transaction offices this year, taking the commercial bank’s total in 26 cities and provinces to 87.

* VPBank (VPB) jumped 81 spots at 280th in the Brand Finance Banking 500 announced early this month which featured the most valuable and strongest banking brands in the world. VPBank became the first private bank in Vietnam to be among the Brand Finance’s top 300.

* Electronics firm Hanel (HNE) will start trading 192.6 million shares on the mark t for unli ted public enterprises, or UPCoM, on February 13, with the starting price set at VND 10,900. At its initial public offering in 2016, HNE sold more than 3.9 million shares, or 20.4% of its shares, a VND10,004 each. The firm is active in electronics production, information technology and telecommunications. It has nine subsidiaries and five associated companies.

 


Category: Business, Vietnam

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