Business Briefs 13 November 2019

13-Nov-2019 Intellasia | | 8:07 AM Print This Post

* The State Bank of Vietnam has recognized the Southeast Asia Commercial Bank (SeABank) as meeting the minimum capital adequacy ratio (CAR) based on Basel II international standards. Basel II requires banks to have a CAR of at least 8%. SeABank has completed its charter capital increase to nearly VND9.37 trillion.

* Logistics firm Gemadept Corporation (GMD) will close the list of shareholders to pay a cash dividend at a ratio of 15% on November 15. GMD will spend about VND445 billion on the payment given its outstanding volume of nearly 297 million shares.

* Gelex Electrical Equipment Company has bought 30 million shares in ceramics firm Viglacera (VGC) to raise its ownership from 19.4% to 12.7%. Earlier, it had registered to buy 40 million VGC shares. The investor is expected to spend around VND630 billion on the purchase.

* Binh Dinh Pharmaceutical and Medical Equipment Company (DBD) said its consolidated net profit fell 28.3% year-on-year to VND32.3 billion in the third quarter of this year. DBD’s net revenue decreased 15.8% to VND308.8 billion in the period.

* Tien Phong Plastic Company (NTP) has completed the issuance of 8.92 million shares for bonus giving at a 10-for-100 ratio to raise its registered capital by 10% to VND982 billion. NTP made a consolidated net profit of VND301 billion on revenue of VND3.39 trillion in the January-September period of this year, up 35.7% and 5.6% year-on-year, respectively.

* Pawn shop chain F88 expanded its footprint with 23 new branches opened in the third quarter of this year, bringing the total number of branches to 106 across Vietnam. F88 has received Smart Certification for practices that reflect and promote consumer protection.

* IDICO Corporation (IDC) has received approval from the Hanoi Stock Exchange to move the listing of 192 million shares to the northern bourse from the market for unlisted public enterprises, or UPCoM. IDC made a consolidated net profit of VND327 billion on revenue of VND3.5 trillion between January and September, up 51.9% and 26.2% year-on-year, respectively.


Category: Business, Vietnam

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