Business Briefs 22 March 2019

22-Mar-2019 Intellasia | | 9:16 AM Print This Post

* HCMC Infrastructure Investment Corporation (CII) has successfully issued VND1.15 trillion worth of Vietnam dong denominated inconvertible bonds with a coupon of 7.2% per annum. The 10-year bonds are guaranteed by GuarantCo. This interest rate is lower than that on CII’s previous bond issuances of around 8% to 10.5% per annum.

* Century Synthetic Fiber Corporation (STK) targets its net profit of VND199.5 billion this year, up 12% compared to 2018. Its revenue is expected to climb 8% to VND2.6 trillion in 2019. In 2019, the company will expand the domestic market share, raise its product quality and take advantage of the trend of shifring textile supply chains from other nations into Vietnam and the benefits of free trade agreements. It plans to invest to build a new plant with an expected capacity of between 2-fold and 3-fold higher than the current capacity, said Viet Capital Securities Company.

* Hoa Sen Group (HSG) exported 15,000 tons of steel sheets to the UK, Germany and Italy last week. The steel sheets were exported from Hoa Sen Phu My Plant in the southern province of Ba Ria-Vung Tau. The company also announced the opening of its new hot-dip galvanized steel pipe plant in the province.

* Asia Commercial Bank (ACB) has registered to sell its entire 10% stake, or 300,000 shares, at ThuyTa Joint Stock Company (TII), a 65-year-old ice cream company in Hanoi City. At TTJ’s current price of VND38,600 per share, ACB will earn more than VND 11.5 billion from the deal. The transaction will be conducted from March 30 to April 18. The divestment aimed to restructure ACB’s investment portfolio.

* PetroVietnam Ca Mau Fertilizer Company (PVC) announced that its Ca Mau PK fertilizer manufacturing plant with a capacity of 300,000 tons per year is expected to become operational in the second quarter of the year. The firm has been seeking input and distributors of PK Ca Mau fertilizer products to i s key markets since June 2018. It is constructing a port for imports of materials for the plant’s production with the total capacity of 500,000 tons.


Category: Business, Vietnam

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