Business Briefs 11 Jul 2019

11-Jul-2019 Intellasia | | 9:21 AM Print This Post

* HCMC Infrastructure Investment Company (CII) has announced to issue VND200 billion of two-year unsecured inconvertible bonds before the end of July, offering an interest rate at 11 % per annum in the first year and. a 3.5% premium on the reference rate in the following years. The reference rate is equivalent to the average interest rate for a 12-month deposit paid at maturity at TPBank. Besides this, CII plans to issue up to VND800 billion of secured inconvertible bonds in the third quarter of 2019.

* Hoang Anh Gia Lai Company (HAG) and its subsidiary Hoang Anh Gia Lai Agricultural Company (HNG) have spent a combined VND2.87 trillion buying back VND2.82 trillion worth of bonds before maturity from VPBank to restructure its debts, said Viet Capital Securities Company. Of the amount, HAG purchased back VND1.12 trillion worth of bonds, including VND991 billion worth of notes due to mature in December 2021 and VND129 billion worth of debts in December 2020. Meanwhile, HNG bought back VND 1.7 trillion worth of bonds, including VND306.5 billion worth of debts that are set to mature in December 2020 and VND1.39 trillion worth of bonds due to mature in December 2021.

* Kien Giang Construction Investment Consulting Group has submitted an application to list 50 million shares on the Hochiminh Stock Exchange (HOSE). Earlier in 2015, the firm also applied to list nearly 14.8 million shares on HOSE but failed to complete dossiers as required. In 2019, the group aims to obtain VND87.4 billion of net profit on revenue of VND926 billion, up 7% and 16% against last year, respectively.

* Due Giang Chemicals & Detergent Powder Company (DGC) plans to issue 5.39 million shares under an employee stock ownership plan from now to the end of this month. DGC will sell the shares at a 4.34-for-l00 ratio at VND10,000 each. DGC targets a net profit 01 VND700 billion this year, down 19% compared to 2018.

* Vicoston Company (YCS) estimates its net profit to rise 29.8% year-on-year to VND392 billion in the second quarter of this year. Its revenue is projected to gain 17.3% to around VND1.4 trillion in the period.


Category: Business, Vietnam

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