Business Briefs 13 February 2020

13-Feb-2020 Intellasia | | 10:10 AM Print This Post

* Dat Phuong Company (DPG) has approved a plan to buy back 1.5 million shares, or a 3.33% stake, to raise the total amount of its treasury shares. With the current trading price of VND25,800 each, the housing developer may spend VND40 billion on spurring its treasury stock. DPG made a consolidated net profit of VND188.3 billion on revenue of VND1.97 trillion in 2019, up 36% and 25.5% year-on-year, respectively.

* VinFast Trading and Production LLC, a subsidiary of conglomerate Vingroup (VIC), reported it had received over 17,000 orders for VinFast cars, and 50,000 others for electric motorcycles in 2019. In 2020, VinFast will introduce VinFast Lux V8, two crossover models, and electric buses to the market. The firm also plans to export electric cars to the United States.

* Ceramic and tile producer Viglacera (VGC) has begun construction of Yen Phong II-C Industrial Park, worth more than VND2.23 trillion, in the northern province of Bac Ninh. The park will cover 221 hectares in Yen Phong District, attracting multi-sector investment, mainly processing and manufacturing, high technology and non-polluting industrie.

* Sacombank (STB) said its consolidated gross profit reached D3.2 trillion last year, more than 21 % in excess of its target. The bank had 5.3 million clients using its cards, with profits from card operations rising by more than 38% compared to 2018.

* The Hanoi Securities Exchange (HNX) reported the sale of nearly VND9.53 trillion worth of bonds in 12 bidding sessions in January, down 15.3% against the previous month. HNX said 79.4% of bonds issued by the State Treasury were sold at lower interest, with reductions of between 0.6 to 1.71 percentage points per annum for each term. Of which, the interest rates for the 7-year term fell the most at 1.71 points per annum.

* FPT Online Service Company reported sales of VND621.5 billion last year, up 13% over 2018. The company reported after-tax profit of VND256 billion, a slight gain from the VND252 billion posted in 2018. Established in 2007, FPT Online focuses on advertising, games, music, social networks and SMS services.


Category: Business, Vietnam

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