Business Briefs 19 February 2020

19-Feb-2020 Intellasia | | 9:44 AM Print This Post

* Thanh Thanh Cong-Bien Hoa Company (SBT) will issue VND 1.2 trillion worth of secured convertible bonds in a private placement. The three-year debts will have a face value of VND1 billion each and carry a coupon of 3,5% per year, which can be negotiable and adjustable between the issuer and investors, according to Viet Capital Securities. The sugar firm made a consolidated net profit of VND50 billion on revenue of VND6.26 trillion in the first half of its fiscal year beginning July 1, 2019, up 11.9 times and 10.6% year-on-year, respectively.

* Long Hau Corporation (LHG) said its consolidated net profit fell 14.28% year-on-year to VND36 billion in the fourth quarter of last year. Its revenue jumped 99.6% to VND268.9 billion in the quarter, LHG said in its consolidated quarterly financial report. The firm’s gross profit decreased 12.8% to VND60.5 billion in the period.

* Petrolimex Insurance Corporation (PGI) will spend VND115 billion paying .he first dividend of VND1,300 per share for 2019 on the record date of February 25. The company will make the payment on March 6. Currently, Vietnam National Petroleum Group, or Petrolimex, holds 40.95% III PGI while South Korea’s largest non-life insurance company Samsung Fire & Marine Insurance Co., Ltd, owns a 20% stake.

* Foreign investors in January net bought around VND46 billion worth of shares on the market for unlisted public enterprises, or UPCoM. They bought VND419.4 billion worth of shares while selling a total of VND373.3 billion worth in the first month of the year.

* Vietnam Construction and Import-Export Corporation (VCG) has approved a plan to divest 15.97 million shares, or a 28.02% stake, of Vinaconex Power Development & Construction Investment Company (VCP). Currently, VSD Investment Joint Stock Company holds 10.91 % in VCP and Song Da Corporation owns 7.08%. VCP made a consolidated net profit of VND220.8 billion on revenue of VND491.6 billion in 2019, down 6% and 4% against the previous year, respectively.


Category: Business, Vietnam

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