Business Briefs 14 January 2020

14-Jan-2020 Intellasia | | 8:46 AM Print This Post

* Standard Chartered Bank has announced that it successfully arranged a VND1,150 billion bond issue with a 10-year tenor for Vietnam Electrical Equipment Corporation (GEX), according to Viet Capital Securities Company. The bond is guaranteed by the ADB’s Credit Guarantee and Investment Facility and carries an interest rate of around 8.5% per annum.

* The Hochiminh Stock Exchange has announced the list of 10 leading securities companies last year, with SSI Securities Incorporation taking the lead with a 13.96% market share. In second and third places were the HCMC Securities Corporation and Viet Capital Securities Company with 10.54% and 8.19%, respectively.

* Bamboo Airways is expected to list on the Hochiminh Stock Exchange in the second quarter of 2020, website reported, citing Dang Tat Thang general director of Bamboo Airways. After one year in operation, the airline is estimated to have made a pretax profit of VND303 billion in 2019 and expects to increase the figure to nearly VND1.03 trillion this year.

* CNG Vietnam Company (GVR), 59% held by PetroVietnam Gas Corporation, said it earned a pretax profit of VND 107 billion in 2019, beating the full-year target by 1 %. Its revenue reached VND2.15 trillion, exceeding the whole-year plan by 23%. CNG gas consumption hit 192.16 million standard cubic meters last year, surpassing the full-year target by 23% .

* Vietnam Rubber Group (GVR) has set a target to earn a pretax profit of VND5.8 trillion on revenue of VND29.9 trillion in 2020, up 13.7% and 0.36% year-on-year, respectively. GVR now has over 220,000 hectares of commercial rubber in Vietnam and abroad, more than 1.4 million square meters of industrial parkland, and 3.44 million square meters of hi-tech agricultural land. It also has eight transaction offices, 103 units and subsidiaries and 21 affiliates.

* SaVi Pharmaceutical Company (SAV) has broken ground for a high-tech research and development center at its factory in HCMC’s Tan Thuan Export Processin Zone. The VND200 billion R&D center would be equipped with technologies and machines imported from advanced countries, including testing equipment and auxiliary system.


Category: Business, Vietnam

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