Business Briefs 17 Oct 2018

17-Oct-2018 Intellasia | | 9:12 AM Print This Post

* The State Treasury raised VND 15. 7 trillion from government bond sales in September, down slightly by 2.2% month-on-month, but the winning rate advanced to 63.3% from 49.9% in August. The lO-year and 15-yearyields jumped 30 basis points to 4.8% and 5.1 %, respectively, which helped these two terms to record high winning rates of81. 7% and 69.2%. The State Treasury has reduced its 2018 issuance plan to VND 175 trillion from VND200 trillion. According to the new plan, the agency has fulfilled 70% of this year’s target.

* Construction Company No. 47 (C47) is seeking approval from its shareholders to revise up its 2018 net profit target by 4.65 times to VND100 billion from the initial figure ofVND21.5 billion. C47 also plans to lift the foreign ownership limit to 49% from the current 3.31 %. To conduct the plan, the builder wants to cut or separate its travel business line into a unit, said Viet Capital Securities Company.

* Vietcombank Securities Company failed to sell 1.1 million shares of Vietnam Electricity Construction Corporation (VNE) during the registered period from September 6 to October 5 due to the unfavorable market situation. VNE share price has slid over 30% over the past year to around VND5,500.

* PetroVietnam Ca Mau Fertilizer Company (DCM) estimated its pretax profit at VND569.5 billion in the January-Septernber period, meeting 83% of the year’s target. Its consolidated revenue reached VND4.63 trillion, fulfilling 83% of the entire year’s plan. DCM produced 586,000 tons offertilizer in the period, accounting for 78% of the 2018 target.

* Gia Lai Electricity Company (GEG) has decided to issue over 97 million shares at VND 10,000 each to raise its chartered capital from VND970 billion to over VND 1.9 trillion. After the issuance, the enterprise will have over 194 million shares in circulation.

* Danang Housing Investment Development Company (NDN) made a net profit of VND 1.8 billion be een January and September, meeting 97% of the year’s target. Given the strong performance, NDN will spend VND44 billion paying an interim dividend ofVNDl,OOO per share for 2018 on November 30. NDN made an audited consolidated net profit ofVND47.9

billion from revenue ofVND 144 billion in the first half of this year, up 76.2% and 106% year-on-year, respectively.


Category: Business, Vietnam

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