Business Briefs 20 February 2020

20-Feb-2020 Intellasia | | 9:37 AM Print This Post

* Dairy firm Vinamilk’s (VNM) CEO Mai Kieu Lien has been voted by GTNFoods’s shareholders to become the chairwoman of the latter. The decision was made at GTNFoods’ first annual shareholder meeting last week after the company was acquired by VNM in December 2019. GTNFoods’ former board of directors was dissolved and the new board was established with five new members from VNM for the 2020-2024 term.

* SSI Securities Company’s statistics showed that real estate firms issued bonds worth VND7.36 trillion in January, accounting for 55% of the total value of corporate bonds issued in the market. Corporate bonds of the real estate firms had average yields of 11.78% per year and average term of 4.98 years.

* FPT Corporation FPT) targets revenue of VND32.4 trillion this year, with gross profit of VND5.5 trillion, up 17% and 18% against 2019, respectively. The board of directors has approved increasing the charter capital of FPT Software from VND2.4 trillion to VND2.8 trillion. Meanwhile, the charter capital for FPT Education would be increased from VND600 billion to.vND 1 trillion.

* Century Synthetic Fiber Corporation (STK) targets a net profit of VND234.8 billion on revenue of VND2.56 trillion this year, up 9% and 13% against 2019, respectively. The company’s management board has approved the resignation of its Chairman Dang Trieu Hoa and appointed Dang My Linh as chairwoman of the firm starting February 14. Linh has bought four million shares of STK, raising her holding in the firm to 14.33%, equal to more than 10 million shares.

* VPBank (VPB) ha announced to have completed the three pillars of Basel II, one year earlier than the State Bank of Vietnam’s deadline. Dmytro Kolechko, head of VPBank’s Risk Management Division, said the early completion of Basel II’s three pillars would be the foundation for VPBank to move towards safer operation and higher standards, such as Basel II IRB, IFRS 9 and Basel III.

* Ocean Group (OGC) targe a net profit of VND142 billion on revenue of VND1.29 trillion in 2020, up 75% and 6% compared with last year, respectively. Ending 2019, the group’s total assets fell 10% year-on-year to VND4.27 trillion.


Category: Business, Vietnam

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