Business Briefs 16 Jul 2019

16-Jul-2019 Intellasia | | 8:56 AM Print This Post

* HCMC Infrastructure Investment Corporation (CII) said it expects to receive VND1.12 trillion following the finalization of negotiations with one of its major project partners on July 10 and other projects in late June. CII also stated that it will therefore likely cancel an VND800-billion bond issue it had announced on July 5, and use the proceeds to finance other major projects. So far in 2019, CII has issued VND2 trillion worth of inconvertible bonds.

* Technology group CMC (CMG) plans to sell 25 million shares to Samsung SDS, a subsidiary of the South Korean tech giant Samsung Group, for at least VND30.000 per share. The firm expects to raise VND750 billion from the issue. Some 60% of the capital raised, or VND450 billion, will be invested in CMG’s member companies. The remaining capital will be spent improving the firm’s infrastructure and facilities.

* FPT Corporation (FPT) and global provider of Internet of Things networking Homa Techs Inc. have signed a strategic agreement to bring smart solutions to houses and buildings. The deal sets forward a long term investment with a three-year roadmap with millions of dollars, according to the Vietnam News Agency.

* Post Telecommunication Insurance Corporation (PTI) said its insurance premium revenue soared 39.8% year-on-year to VND2.68 trillion in the first half of this year, meeting 53% of the full-year target. Its revenue from human health insurance rose 25.5% to VND1.24 trillion in the second quarter of this year, while that from motor vehicle insurance surged 79.6% to VND966 billion.

* An Binh Bank has issued 39 million new shares paying a 2017 dividend for shareholders at a ratio of7 .4%, increasing its chartered capital from overVND5.3 trillion to VND5.7 trillion. The bank targets pre-tax profit of VND1.22 trillion, a 35% increase from last year.

* Thong Nhat Company (BAX) said its net profit skyrocketed 3.7-fold year-on-year to VND20.7 billion in the second quarter of this year thanks to the increase in revenue of Bau Xeo Industrial Park Service Center project. Its revenue jumped 189% year-on-year to VND47.3 billion in the period.


Category: Business, Vietnam

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