Business Briefs 20 Sep 2019

20-Sep-2019 Intellasia | | 9:22 AM Print This Post

* The State Capital Investment Corporation (SCIC) will hold an auction to offload its 32% stake totaling nearly 2.5 million shares in Lam Dong Pharmaceutical JSC (LDP) with the reserve price of VND28,100 per share SCIC expects to get VND70 billion from the auction, which is planned to be held on October 10.

* Vietnam Petroleum Transport JSC (VIP) has approved a plan to auction Petrolimex 06 vessel with the reserve price set at more than VND 108.3 billion. The auction will be held by November.

* The General Department of Taxation has plans to merge 207 tax offices in 35 cities and provinces into 98 regional offices. This is the third time tax offices in the country have been merged. In all, 401 tax offices have been merged into 190 offices.

* Ocean Group JSC (OGC) has approved plans to divest from Fafim Vietnam JSC, BOT Hanoi-Bac Giang JSC and Hanoi PVR Investment JSC. OGC currently owns 50.94% and 21 % of Fafim Vietnam JSC and BOT Hanoi – Bac Giang JSC, respectively. As for Hanoi PVR Investment JSC, OGC had earlier invested over VND50.4 billion in more than five million shares of Hanoi PVR Investment, but the shares’ fair value was some VND6 billion by the end of last quarter.

* Nguyen Ngoc Quang, a member of the board of Hoa Phat Group JSC (HPG), has registered to sell 1.5 million HPG shares from September 18 to October 17. If successful, his ownership in HPG will fall to over 53.1 million shares, or 1.92%.

* Gia Lai Electricity JSC will start trading 204 million shares on the Hochiminh Stock Exchange from September 19 at the reference price of VND27,490, using the code GEC. GEC currently owns 19 plants with a combined capacity of 286 megawatts, including 14 hydropower and five solar power plant. The company has plans to develop wind farms as well.

* Son La Sugar JSC (SLS) will ask its shareholders at a meeting on September 26 for approval of a plan to pay a 50% cash dividend for its 2018-2019 fiscal year, well above the earlier approved 10%. According to. SLS’s financial report, the company booked VND890 billion in revenue in the 2018-2019 fiscal year, fulfilling 98.8% of the full-year target, and nearly VND63.24 billion in after-tax profit, plunging 45.45% over the previous fiscal year but 3.1 time higher than the target.


Category: Business, Vietnam

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