Business Briefs 16 Oct 2018

16-Oct-2018 Intellasia | | 9:04 AM Print This Post

* Fitch Ratings has affirmed Vingroup Company’s (VIC) Long-Term Foreign- and Local-Currency Issuer Default Ratings at B+. The outlook was revised to Negative from Stable. All ratings have been removed from Rating Watch Negative, on which they had been placed on October 3.

* Landmark Holding Company (LMH), which is active in the petroleum and real estate sectors, started trading 23.3 million shares on the Hochiminh Stock Exchange last Friday. Closing the session, LMH jumped to the ceiling price ofVND 13,400 with matching volume totaling 2.4 million shares.

* Mekong Fisheries Company (AAM) will buy back 2.4 million shares as treasury shares to stabilize market prices. The selling price will range from VNDlO,OOO to VND15,500, with transactions taking place within 30 days upon approval from the State Securities Commission. The enterprise now has no treasury shares.

* Saigon General Service Corporation (SVC) has revised up its 2018 net profit target by 42.86% to VND200 billion from the initial figure ofVND 140 billion. SVC keeps the revenue target unchanged at VND 14.2 trillion, according to a statement sent to the Hochiminh Stock Exchange. The automobile retailer plans to raise its holding in Hyundai Vinh Thinh to 55%.

* Yurie Vietnam Accumulated Target Return Fund, a unit ofShinhan Vietnam Bank, has offloaded its entire 87,000 shares in VNDirect Securities Company (VND), cutting its ownership from 5% to 4.9%, equal to over 10.7 million shares. The VND share price is around VND22,000.

* Maritime Bank has decided to buy back maximum 70 million shares as treasury shares at the estimated price ofVND 11,000. The bank is trading its shares on the over-the-counter market, with its share price ranging from VNDlO,300 to VNDl2,200.

* American Vietnamese Biotech Inc. (AMV) said its consolidated net profit skyrocketed by 217-fold year-on-year to VND67.8 billion in the third quarter of 2018, marking a record high since 2eN. ‘s revenue soared by 41-fold year-on-year to VND1l3.6 billion in the period.

* Le Anh Vien, a board member of Thanh Cong Securities Company (TCI), has offloaded nearly 6.8 million shares, equal to an 18.8% stake in the enterprise. Vien is expected to earn over VND62 billion from the share sale.


Category: Business, Vietnam

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