Business Briefs 18 Oct 2018

18-Oct-2018 Intellasia | | 9:27 AM Print This Post

* The State Bank of Vietnam net withdrew VND10.2 trillion via both treasury bills and reverse repos in September thanks to an improvement of liquidity, versus a net injection ofVND12.5 trillion in August. If the Vietnam dong amount withdrawn via the sale of US$943 million from the foreign reserves is taken into account, the central bank actually net withdrew more than VND31.9 trillion last month, said Viet Capital Securities Company.

* The board of directors of Nam Long Investment Group (NLG) has approved a plan to issue 27.6 million new shares, equal to 13% of current outstanding shares, to accommodate the conversion ofVND500 billion worth of convertible bonds which were originally issued to Keppel Land in 2016. The conversion price will be VND 18, 142 per share with an execution timeline in the fourth quarter of 2018. KPL has recently sold 51 % of its VND500 billion worth of convertible bonds to local investors.

* Ardolis Investment Pte Ltd has purchased over 24.5 million shares of Mas an Group (MS) to raise its holding at the consumer goods enterprise to 2.1 %. Ardolis Investment is a related unit of the Government of Singapore, which is holding over 51.2 million shares of MSN, or a 4.4% stake.

* CNG Vietnam Company (CNG) said its net profit surged 36.4% year-on-year to VND37.8 billion in the third quarter of this year. It revenue jumped 52.2% to VND507.6 billion in the quarter. Between January and September, CNG’s net profit increased 7.5% year-on-year to VND83.7 billion, while its revenue soared 36.8% to VND1.32 trillion in the period.

* Dang Huynh Uc My, a board member of Thanh Thanh Cong-Bien Hoa Company (SBT), has registered to buy 20 million shares of the sugar firm between now and November 15. Transactions will be made via put-through. Once completed, My will raise her ownership to 6.5% to 10.6%.

* Licogi 16 Company (LCG) has bought-back two million shares as treasury shares at the average buying price of nearly VND9,400, using its invetmen and development budget.

* Tay Ninh Rubber Company (TRC) said its consolidated net profit slumped 73.4% year-on-year to VND7.6 billion in the third quarter of this year. Its revenue fell 27% to VND93.5 billion in the period.



Category: Business, Vietnam

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