Business Briefs 19 Aug 2019

19-Aug-2019 Intellasia | | 9:12 AM Print This Post

* The State Securities Commission has issued the first ever Vietnam Corporate Governance Code of Best Practices, a set of practices recommended for Vietnamese public companies. It was developed with technical support from the International Finance Corporation (IFC) and assistance from the Swiss State Secretariat for Economic Affairs. The code contains 10 main principles with detailed recommended practices covering key issues in corporate governance.

* Sao Ta Foods Company (FMC) has approved a plan to issue 8.84 million shares to raise its registered capital by 21.9% to VND490 billion. Of the mount, FMC will sell 8.04 million shares to existing shareholders at VND25,000 each and 804,000 shares under an employee stock ownership plan. The shrimp exporter booked VND91.8 billion in net profit on revenue of VND1.63 trillion in the first half of this year, up 51.6% and down 6.9% year-on-year, respectively.

* Vinacafe Bien Hoa Company (VCF) plans to pay a 240% cash dividend for 2018, meaning every shareholder will receive VND24,000 for each share held. With nearly 26.58 million shares listed on the Hochiminh Stock Exchange, the company will have to pay nearly VND638 billion in the upcoming dividend payout. VCF will finalize the list of beneficial shareholders on August 19 and the payments will be made on August 30. In 2018, the company paid a 660% dividend for 2017.

* Platinum Victory Pte. Ptd, the biggest shareholder of Refrigeration Electrical Engineering Corporation (REE), is bidding for over 31.3 million REE shares at VND45,000 per share, 21 % higher than the current REE share price. The investor is expected to spend around VND 1.4 trillion on the purchase, raising its stake from 24.9% to 35%.

* TNG Investment and Trading Company (TNG) said it made VND128 billion in net profit in January-July this year, meeting 62% of the full-year target. Its revenue reached VND2.6 trillion in the period, 63% of the whole-year plan. The seven-year earnings per share were VND2,055.


Category: Business, Vietnam

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