Business Briefs 19 Oct 2018

19-Oct-2018 Intellasia | | 8:42 AM Print This Post

* Licogi 16 Company (LCG) and Nikko Indonesia have signed a cooperation agreement in Bali to implement three projects worth US$300 million in Indonesia and Vietnam, of which LCG and Nikko will build a US$200-million highway and a US$50-million financial center in Jakarta. Meanwhile, Nikko will invest US$50 million in implementing LCG’s solar power project with a capacity of 50 MW in central Vietnam, LCG and Nikko will start building the three projects in 2019.

* F&N Dairy Investments Pte Ltd has registered to buy over 17.4 million shares of Vietnam Dairy Products Company (VNM) from now to November 16, thus increasing its ownership from 17.3% to 18.3%. Earlier, the investor failed to buy over 14.5 million VNM shares during the registered period from September 17 to October 16 due to unfavorable market conditions. The VNM stock price is around VND127,300 per share on the HCMC bourse.

* Danang City-based property firm First Real (FIR) will begin trading 13 million shares on the Hochiminh Stock Exchange today, with the reference price set at VND 12,000. Earlier, FIR passed a plan to raise its chartered capital from VND130 billion to VND300 billion by offering four million shares via a private placement and 13 million shares to existing shares. It will use the proceeds to invest in two projects in Quang Binh Province given cooperation with Truong Thinh Group

* PetroVietnam Fertilizer Corporation (DPM) has announced preliminary results in January-September with revenue ofVND7.1 trillion and pre- tax profit ofVND625 billion, up 9.8% and down 14.8% year-on -year. The revenue growth was due to the urea price increase of 8.6% and stable sales volume. Meanwhile, input gas cost surged 28.6% year-on-year and continued to weigh on profit.

* Nam A Bank will close its shareholder list on October 24 to prepare for the listing on the market for unlisted public enterprises, or UPCoM. The bank has got approval from the State Bank ofVietnam to open three branches and seven transaction offices from now to the end of this year, taking to 79 the total number of its banking units nationwide.


Category: Business, Vietnam

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