Business Briefs 15 Jan 2019

15-Jan-2019 Intellasia | | 9:32 AM Print This Post

* Two executives of Sunstar Investment JSC (SJP) have registered to buy a combined six million shares of SJP from January 14 to February 12. Of the amount, Nguyen Tri Thien, chairman of SJP, has registered to purchase three million SJP shares to raise his holding to 5.77 million shares, or a 7.3% stake in SJP, expecting to become a major shareholder of the firm after the transaction. Nguyen Xuan Nam, deputy CEO of SJP, also registered to acquire three million SJP shares. Currently, he owns 2.31 million shares of SJP, equal to a 2.92% stake. Earlier in July-August 2018, the two executives offloaded a combined 3.63 million shares of SJP at the price ranging from VND23,000 to VND28,000.

* PetroVietnam Power Corporation (POW) and PetroVietnam Gas Corporation (GAS) have signed an in-principle agreement on liquefied natural gas (LNG) supply for Nhon Trach 3 and 4 gas-fired power plants, said Viet Capital Securities Company. POW and GAS are accelerating work on the prefeasibility study in 2019 and break ground on these projects in 2020, implying commercial operation in 2023. The operation of the new Thi Vai terminal for LNG import with capacity of one to three million tons a year could ensure stable fuel supply for Nhon Trach 3 and 4 plants as well as reduce the risk of electricity shortage from 2023 onwards.

* NBB Investment Company (NBB), a property enterprise, has decided to buy back over 9.7 million shares as treasury shares, or 10% of its outstanding shares. Transactions will be made within 30 days via order matching with the buying price not higher than VND22,000 per share.

* Century Synthetic Fiber Corporation (STK) said its net profit shot up 75.6% against 2017 to VND175 billion last year, 31 % higher than the year’s target. Its revenue also jumped 20.7% to reach VND2,4 trillion in 2018. STK plans to expand the domestic market and invest in building a new lant in 2019.

* Pham Ngoc Phu, a board member of Danang Rubber Company (DRC), has sold 100,000 DRC shares, cutting his holding at the firm to over 137,000 shares, or 0.1 %.


Category: Business, Vietnam

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