Business Briefs 14 May 2019

14-May-2019 Intellasia | | 2:01 PM Print This Post

* Mobile World Investment Corporation (MWG) has announced at a press briefing that in the first quarter of2019, its consolidated net revenue grew 10 percent year-on-year to over VND25 trillion and its after-tax profit picked up 29 percent to D1,040 billion. The firm’s online sales amounted to VND4.6 trillion in the first three months of 2019, up 67 percent year-on-year and contributing 19 percent to MWG’s total revenue.

* Rang Dong Plastic JSC (RDP) has picked Tran Trong Trieu as new general director, replacing Ho Due Lam, who has spent 32 years holding the position at Rang Dong. Trieu has served as board member of the firm since April 2018. The 41-year-old worked as deputy general director of Rang Dong between March 2017 and March 2019. The company’s first quarter revenue soared 36.3 percent year-on-year to VND314.7 billion and its before-tax profit rose 137.2 percent to VND2.42 billion.

* Nova Land Investment Group Corporation (NVL) has decided to contribute an additional VND1,058 billion to its subsidiary Nova Nippon. After the new capital injection, NVL’s holding in the subsidiary will increase to 107.8 million shares, or a 99.98 percent stake.

* Bao Viet Value Investment Fund, a major shareholder of Vietnam National Reinsurance Corporation (VNR), has registered to buy over 3.44 million VNR share from May 10 to June 8. It currently holds more than 9.42 million shares in (VNR), or 7.19 percent of the total.

* Hoa Phat Group JSC (HPG) has passed a plan to issue more than 637 million new shares to pay a 2018 dividend for shareholders with a three-for-10 ratio. The payment date is scheduled for May and June this year.

* Nguyen Kim Investment and Development JSC, a unit related to Vu Thu Muoi, chair of Lam Dong Pharmaceutical JSC, or Ladophar (LDP) and a large shareholder of the firm, has bought over 1.36 million LDP share, raising its (ownership in Ladophar to four million share, or 51.15 percent of the total, up from 33.72%.


Category: Business, Vietnam

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