Business Briefs 17 October 2019

19-Oct-2019 Intellasia | AFP | 6:02 AM Print This Post

* Kim Oanh Group has signed a comprehensive cooperation agreement with Orient Commercial Bank (OCB) to prepare for the development of large-scale urban projects and its entry into the industrial property development field.

* The State Securities Commission has imposed a fine of VND70 million on Damsan JSC (ADS) for violating the regulations on information disclosure. ADS was found not to release information as regulated.

* Ben Tre Pharmaceutical JSC (DBT) will close its shareholder list on October 31 to pay a 2019 cash dividend of 10 percent. With its outstanding 13.53 million DBT shares, the firm will spend some VND13.5 billion on dividend payment. The payment date is slated for November 25. DBT targets VND725 billion in revenue and VND30.7 billion in before-tax profit this year.

* TNG Investment and Trading JSC (TNG) has reported that its third quarter after-tax profit soared 28 percent year-on-year to a record high of VND81 billion. Between January and September, the firm made some VND3.5 trillion in net revenue, up 31 percent year-on-year, and over VND174 billion in net profit, up 34 percent. The rise was attributable to its restructuring plan.

* Vietnam Mechanisation Electrification and Construction JSC (MCG) will divest over 2.68 million shares from Meco Electricity Development and Investment JSC to cut its ownership to 225,000 shares, or a 5 percent stake.

* Phat Dat Real Estate Development Company (PDR) has won a tender to own a land lot covering over 5,200 square meters with a value of VND126.5 billion on Ngo May Street in Quy Nhon City. A source from the Binh Dinh government said that the firm will team up with AKYN Service Trading Investment JSC and 559 Investment JSC, the owner of Fusion Maia Resort in Danang City, to develop a five-star hotel project at the land lot, which is considered the most beautiful site in the city.

 


Category: Business, Vietnam

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