Business Briefs 12 Jun 2019

12-Jun-2019 Intellasia | | 8:43 AM Print This Post

* Vinh Son-Song Hinh Hydropower JSC (VSH) has passed a plan to mobilize capital to raise the total investment in the Upper Kon Turn hydropower project to over VND9 trillion. The project, which started construction in 2009 with an original cost estimate of VND5.7 trillion, is expected to be put into operation at the end of 2019. VSH also looks to turn out 607 million kWh of electricity, and make VND441 billion in revenue and VND207 billion in pre-tax profit this year.

* Nam Viet Corporation (ANY) has set June 26 as the ex-dividend date to pay a 2018 second round cash dividend for shareholders at 3%. The payment is slated for August 29.

* Danang Housing Investment Development JSC (NDN) has registered to sell 3.5 million treasury shares from June 17 to July 16, with the registered daily sale of 105,000 to 350,000 shares.

* SMC Trading Investment Company (SMC) looks to become a major shareholder of Nam Kim Steel JSC (NKG), with a plan to buy 6.3 million more NKG shares. After the purchase, which is slated for the second and third quarters of 2019, SMC will increase its ownership in NKG from 1.54% to 5%. SMC has set a target of generating VND15 trillion in revenue and VND160 billion in post-tax profit this year.

* Yen Bai Industry Mineral JSC (YBM) has projected its 2019 revenue at VND30 billion and its after-tax profit at VND500 billion. The firm’s 2019 dividend payment is expected to range from 15% to 20%.

* Le Quoc Khanh, a member of the board of Vietnam Germany Steel Pipe JSC (VGS) and the son of chairman of the firm Le Minh Hai, has bought 1.05 million VGS shares, thereby raising his holding in the firm to 2.17 million shares, or a 5.15% stake, from 2.66%, while Hai’s wife and daughter, Nguyen Thi Thanh Thuy and Le Khanh Huyen, have also purchased more than 1.6 million VGS shares and 2.22 million shares, respectively. Thuy now owns 10.75% of VGS and Huyen 8.24%.

* Nguyen Thi Huong, a member of the board of directors at Power Construction Company (PC1), has registered to sell 400,000 PC1 shares between June 10 and June 13. The transaction is expected to cut her holding in the firm to 1.09 million shares.

 


Category: Business, Vietnam

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