Business Briefs 17 Sep 2019

17-Sep-2019 Intellasia | | 9:03 AM Print This Post

* Rangdong Light Source and Vacuum FlaskJSC (RAL) has approved a plan to spend VND42 billion developing offices and warehouses for its branches in Dong Nai Province’s Bien Hoa City and Buon Ma Thuot City of the Central High ands province of Daklak. The investment will be sourced from its development investment fund. The company reported that the fire at its bulb warehouse in Hanoi on August 28 caused material losses of some VND150 billion, below 5% of the company’s total assets.

* Recapital Investments Pte. Ltd has announced to sell 21.72 million shares of Ninh Van Bay Travel Real Estate JSC (NVT) through order-matching and put-through transactions from September 16 to October 15. If successful, Recapital Investments will reduce its holding in NVT from 32.46 million to 10.7 million shares, or 11.9%.

* Vietnam Dairy Products JSC (VNM) has announced to increase its investment in its subsidiary in the United States—Driftwood Dairy Holding Corporation from US$10 million to US$20 million.

* Vinh Son – Song Hinh Hydropower JSC (VSH) has approved a plan to issue a maximum of VND700 billion of non-convertible secured bonds at a par value of VND1 billion each. The bonds will have a term of seven years with both fixed and floating interest rates.

* Huynh Bich Ngoc, the mother of Dang Huynh Uc My, a member of the board of directors of Thanh Thanh Cong – Bien Hoa JSC (SBT), has registered to buy 35 million SBT shares from September 17 to October 16 via order-matching and put-through transactions. If successful, Ngoc will raise her ownership in SBT from over 15.55 million to 50.55 million shares, or from 2.96% to 8.61 %.

* Vietnam Construction and Import-Export Joint Stock Corporation (VCG) and Military Bank (MB) have signed a cooperation agreement. Accordingly, MB will provide credit and other banking services to Vinaconex and its subsidiary. The two sides will also join hands to promote their brands through conferences and add more value to their own products and service.

* Innoven Capital, Asia’s leading venture debt firm, has completed its investments in Tiki and Up Coworking Spacec, its first investments in Vietnam. Although Innoven Capital did not reveal the values of the two investments. it affirms that it will continue. providing venture loans for other Vietnamese startups.

* Le Thai Nam, deputy head of the State Bank of Vietnam’s Organization and Personnel Department, has been appointed as chairman of the member council of the National Banknote Printing Plant from September 15. Nam will hold the post for five years.


Category: Business, Vietnam

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