Business Briefs 18 Jul 2019

18-Jul-2019 Intellasia | | 9:12 AM Print This Post

* The Hochiminh Sock Exchange has announced the latest update to the blue-chip VN30 Index for July, which will take effect from August 5. Accordingly’ Bank for Investment and Development of Vietnam (BID) and insurer Bao Viet Holdings (BVH) have been-enlisted in the VN30 basket, replacing HCMC Infrastructure Investment (CII) and Hau Giang Pharmaceutical (DHG). The addition of BID has raised the number of bank stocks in the VN30 basket to nine.

* PetroVietnam Drilling & Well Services Company (PVD) will close its shareholder list on July 30 to issue over 38 million shares for a 2017 dividend payment at a ratio of 10%. In the first quarter of this year, its revenue dropped 18% year-on-year to over VND93 billion.

* Tien Phong Commercial Bank (TPBank) and the international payment brand UnionPay have signed an agreement on payment cooperation, making it easier for foreign tourists to pay for goods and services in Vietnam.

* Dinh Viet Thanh, deputy general director of PVC Petro Capital & Infrastructure Investment Company (PTL), has registered to buy five million PTL shares from now to August 15 to raise his stake to 19.6 million shares, equal to a 19.8% stake.

* Sao Ta Foods Company (FMC) said its pretax profit soared 40% year-on-year to VND95 billion in the first half of this year, meeting over 50% of the year’s target. FMC’s processed shrimp output hit over 6,800 tons during the period, up 6.7% from the previous year. The company is participating in the shrimp farming project of the Mekong Delta province of Soc Trang on 90 hectares.

* PAN Group has made a bid for 7.7 million shares of confectionery maker Bibica (BBC) to raise its ownership to 100%. These shares are currently held by South Korean conglomerate Lotte Group and other small shareholders, amounting to 49.93% of BBC’s chartered capital. The Korean firm holds 44.03%. PAN Group currently owns 50.07% of the confectionary company through a subsidiary, PAN Food JSC. With a bid of VND68,500 per share, the group is expected to ralse VND530 billion to fund it purchase.


Category: Business, Vietnam

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