Business Briefs 15 Jul 2019

15-Jul-2019 Intellasia | | 8:57 AM Print This Post

* Vietnam’s government bond issuance in the second quarter this year dropped 48.6% against the previous quarter to VND35.6 trillion, or just 44.6% of the quarter’s plan. The total G-bond issuance in the January-June period was VND105 trillion, fulfilling 40.4% of the 2019 issuance plan. Bond yields remained stable in both primary and secondary bond markets. As of the end of June, one-year, five-year and 10-year yields stood at 3.23% (+2 bps), 3.91 % (+5 bps) and 4.69% (-5 bps), respectively.

* The Hochiminh Stock Exchange has received announcements on raising the foreign ownership limit (FOL) at Hoa Binh Construction Group (HBC) and Construction Company 47 (C47) to 49% from July 4, said Viet Capital Securities Company. Earlier, HBC had set its FOL at 37.5% before issuing 25 million shares to Hyundai Elevator Co” Ltd, in a private placement following an agreement with the latter. After the issuance, the firm decided to increase the FOL. As for C47, the firm raised its FOL after removing several registered business segments which restrict the ownership of foreign shareholders. The limit of foreign ownership at C47 was set at 3.31 % before the hike.

* P&Q Investment Trade and Service Company, an institutional shareholder related to Chairman Ho Minh Quang of am Kim Steel Company (NKG), has offloaded 19 million KG shares to slash its ownership from 14.2% to 3.7%.

* Asia Commercial Bank (ACB) has announced preliminary results in the first half of this year, in which its before-tax profit reached VND3.6 trillion, completing 49% of its full-year forecast. The bank’s credit and deposit growth rates were 9% and 7%, respectively. ACB is about to sign another bancassurance contract with a new partner, aside from the current insurer partner AlA Vietnam.

* Minh Phu Seafood Company (MPC) has appointed Suzuki Yohiaki as the new deputy general director of the company for two ears starting July 8. Suzuki Yoshiaki was appointed after a letter of introduction from Matsuoka Taishi, director of the Food Department at Japan’s Mitsui & Co Ltd. Currently, Mitsui holds a 35.1 % stake in the Vietnamese shrimp processing company.


Category: Business, Vietnam

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