Business Briefs 15 November 2019

15-Nov-2019 Intellasia | | 9:15 AM Print This Post

* The Pan Group (PAN) plans to buy shares in Golden Beans Coffee Joint Stock Company from the latter’s existing shareholders and share issues to raise its holding in Golden Beans Coffee to 80% this month, The move officially marks PAN’s business expansion to the coffee segment, said Viet Capital Securities Company. PAN made a consolidated net profit of VND 171.5 billion on revenue of VND 5.3 trillion in the January-September period of this year, up 4.3% and down 2.2% year-on-year, respectively.

* HVC Investment & Technology Company (HVH) has announced to buy back 500,000 shares as treasury shares from November 20 to December 19. Its share price on the Hochiminh Stock Exchange has plunged steadily to around VND 18,300 compared to the peak of over VND 29,100 established in July, The enterprise now has no treasury shares.

* Refrigeration Electrical Engineering Corporation (REE) announced that it has raised its ownership in Muong Hum Hydro Power Company to 49%. REE has also increased its ownership in Thuan Binh Wind Power Company from 25% to 49.1 %, by purchasing shares in Thuan Binh from Vietnam Electricity Group (EVN) in an auction held in late March.

* Vietnam Airlines (HVN) made a consolidated pre-tax profit of nearly VND3.3 trillion between January and September this year, according to a financial report released last week. The group’s revenue was more than VND76.7 trillion, reaching 97.9% of the yearly target.

* Chubb Life Vietnam has launched two Universal Life insurance products, “Critical Illness Universal Life-Individual Plan” and “Critical Illness Universal Life-Family Plan” providing policyholders with financial solutions to manage the risk of accidents and critical illnesses.

* Gia Lai Hydropower Company (GHC) will close its shareholder list on November 20 to advance a 2019 second round dividend in cash for shareholders at 20%. The firm will spend VND41 billion on the payment with its outstanding volume of 20.5 million shares.

* Lix Detergent Company (LIX) said its consolidated net profit climbed 25.4% year-on-year to over VND48 billion in the third quarter of this year. LIX’s revenue rose 16% to VND 657 billion in the quarter.


Category: Business, Vietnam

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