Business Briefs 18 May, 2018

18-May-2018 Intellasia | | 2:11 PM Print This Post

* Saigon Thuong Tin Real Estate Company (SCR) plans to expand the area of land it holds to 1,500 hectares by buying a 79.82 percent stake in Toan Hai Van Joint Stock Company and an 11  percent stake in TIC Industrial Zone. The firm will spend VND367 billion raising its holding in Dang Huynh Industrial

Zones Exploitation and Management Joint Stock Company to 51  percent. Besides, SCR has received approval from its shareholders to issue 212 million shares

at a 100-for-67 ratio at VNDlO,OOO per share.

* An Phat Plastic and Green Environment Company (AAA) has passed a list of eight shareholders chosen to buy the remaining shares in the recent

issue of nearly 83.6 million shares, AAA will sell 1.5 million shares to the shareholders at VND14,000 each, below the current market price of nearly

VND20,000, The shares will not be tradable in one year.

* Pham Minh Huong, chairwoman ofVNDirect Securities Company (VND), has announced to buy five million VND shares within around 30 days starting tomorrow to raise her ownership to 4.99 percent, Meanwhile, other leaders of the brokerage firm have announced to buy 50,000 to 150,000 shares each, The VND share price has tumbled since May 9 due to its involvement in a gambling ring.

* Nguyen Thanh Son, a board member of Seaprodex Refrigeration Industry Corporation (SRF), has acquired 7.5 million SRF shares, or a 24 percent stake. Son is expected to spend VND100 billion on the acquisition.

* KonexLimited has registered to offload its entire 5.8 million shares of Quang Ninh Cement and Construction Company (QNC) to restructure financial situation. At the end of2017, QNC racked up a loss ofVND304 billion.

* Lam Thao Fertilisers & Chemicals Company (LAS) has announced May 25 as the record date to pay a 2017 second round dividend in cash at 7 percent.

It will make the payment on June 11. LAS made VND905.8 billion in revenue and VND31.7 billion in after-tax profit in the first quarter of2018, down 10 percent

and 28 percent year-on-year respectively. The firm attributed the poor results to a decline in market demand while its financial costs increased.


Category: Business, Vietnam

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