Business Briefs 17 February 2020

17-Feb-2020 Intellasia | | 9:55 AM Print This Post

* Refrigeration Electrical Engineering Company (REE) will make its first cash dividend payment for 2019 at the rate of l6% in April, after finalizing the list of beneficial shareholders on February 28. REE is expected to spend nearly VND500 billion on the payment. It is trading more than 310 million shares on the Hochiminh Stock Exchange.

* Chairman Nguyen Anh Nhuong Tong of media group Yeah 1 (YEG) has signed up to sell 5.05 million shares to cut his stake in the company to 25.52% from 41.66%. Meanwhile, CEO Dao Phuc Tri plans to transfer 1.1 million shares to slash his ownership from 8.3% to 4.78%. The two senior leaders want to transfer their shares to a strategic investor. Other major shareholders in the company are Ancla Asset Ltd and DFJ VinaCapital Venture, which own 10.93% and 9.74%, respectively.

* Foreigners net purchased VND1.97 trillion worth of shares on the Hochiminh Stock Exchange in January, marking the fifth straight month of staying on the buying side. The investors focused on PetroVietnam Low Pressure Gas Distribution (PGD), Mobile World Corporation (MWG), Hoa Phat Group (HPG), Vietinbank (CTG), and dairy firm Vinamilk (VNM).

* The Small-and Medium-sized Enterprise Development Fund (SMEDF) under the Ministry of Planning and Investment and Military Bank (MBB) have signed a framework contract on indirect lending to support SMEs in the country. Enterprises will enjoy preferential interest rates with short-term loans at 4.16% per year and medium and long-term interest rates of 6% per year.

* Loc Troi Group (LTG) has targeted total revenue of VND8.84 trillion for 2020, an increase of 1.4% from 2019. The firm’s net profit target is VND430 billion, up 28.4% from last year. The company expects to increase sales of branded rice products by three times this year with the aim of diversifying export markets, focusing on Europe, Africa, the Philippines and China.

* Corporation (IDC) said its consolidated net profit oared 54.6% year-on-year to over VND89 billion in the fourth quarter of last year. Its revenue climbed 3.4% to VND1.4 trillion in the quarter.

 


Category: Business, Vietnam

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