Business Briefs 14 February 2020

14-Feb-2020 Intellasia | | 8:40 AM Print This Post

* Truong Hai Auto Corporation (THA) has raised VND2 trillion from a bond issue, fulfiling two-thirds of its full-year plan. The debt is inconvertible and the firm used its land as collateral. The coupon is 9.8% for the first year, and will be based on the average lending rate at local banks plus 3.2 percentage points. Payment will be made every six months. THA plans to raise a total of VND3 trillion from bond sales in 2020.

* Vietnam International Bank (VIB) earned more than VND8.1 trillion in revenue in 2019, up 33% compared with the previous year. The bank’s service revenue doubled 2018′s figure to VND3.42 trillion. Meanwhile, provision expenses dropped 7% to VND605 billion as its non-performing loan ratio declined to 1. 7% from 2.2%. The bank also repurchased all bad debts it had sold to the Vietnam Asset Management Company.

* Vincom Retail (VRE) launched nine commercial centers into operation within the last quarter of 2019, including six Vincom Plazas in Cao Lanh, Dr An, Cam Pha, Soc Trang, Kon Turn, Bac Kan, and three Viricom + units in Phu Tho, Ninh Hoa and Nghe An. As of the end of last year, VRE was operating 79 commercial centers across 43 cities and provinces with the retail area of 1.6 million square meters.

* Digiworld Corporation (DGW) has targeted a net profit of VND202 billion in 2020, up 25.5% against last year. The revenue is expected to rise 20% to VND10.2 trillion this year.

* SCI Company (S99) has approved a plan to issue 10.2 million shares to raise its registered capital by 23.83% to VND530 billion. S99 will sell the shares to existing shareholders at a 5-for-21 ratio at VND10,000 each. Of the expected proceeds, S99 wants to spend VND50 billion on the Nam Lom 2 hydropower project with total capital of VND629 billion, VND20 billion on the Nam Xe hydropower project worth VND665 billior; and VND31.5 billion on the VND276 billion Nam Lum1 hydropower project.


Category: Business, Vietnam

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