Business Briefs 11 November 2019

11-Nov-2019 Intellasia | | 8:49 AM Print This Post

* CMC Corporation (CMG) said its consolidated net profit rose 2.89% year-on-year to over VND48.9 billion in the second quarter of its fiscal year 2019 beginning April 1. CMG’s net revenue fell 5% from a year earlier to V D1.19 trillion while its gross profit climbed 27.09% year-on-year to over VND250 billion in the period. CMG made

a consolidated net profit of VND57.5 billion on net revenue of VND2.3 trillion in the first half of the fiscal year 2019, down 26.52% and 7.37% year-on-year, respectively.

* Refrigeration Electrical Engineering Corporation (REE) recently spent VND70 billion acquiring a further 24% stake in 24-megawatt Thuan Binh Wind Power JSC. REE’s total stake is now 57%, including an 8% indirect holding via Thac Ba Hydropower JSC (TBC), REE’s subsidiary. Thuan Binh Wind Power has a license to build another wind power plant with a capacity of 26 megawatts that will be located next to its existing plant.

* HCMC Infrastructure Investment JSC (CII), the holding company of 577 Investment Corporation (NBB), acquired more than one million NBB shares early this month, thereby raising its stake in the subsidiary to over 61 million shares, or 66.25%.

* Nguyen Khanh Hung, chairman of LDG Investment JSC (LDG), intends to buy two million LDG shares via matching and put-through transactions from November 11 to December 9. If successful, he would raise his stake in LDG to 11.73%, or over 28 million shares.

* The Airports Corporation of Vietnam (ACV) announced that it will spend more than VND1.9 trillion paying a 2018 cash dividend of VND900 per share, equivalent to an 11 % dividend yield. The record date is November 18, and the payment date is December 18.

* Vinaconex Investment and Tourism Development JSC (VCR) plans to sell 140 million shares via a private placement at a price of VND10,000 each to less than 100 investors. The proceeds estimated at VND 1.44 trillion will be used to raise capitalin the Cat Ba Amatina tourism urban area project in the northern port city of Haiphong.


Category: Business, Vietnam

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