Business Briefs 22 November 2019

22-Nov-2019 Intellasia | | 9:18 AM Print This Post

* The State Capital Investment Corporation (SCIC) has plans to sell all of its 51.4 million shares in Quang Ninh Thermal Power JSC, or an 11.42% stake. SCIC expects to get VND23,800 from each of the shares, meaning the shares would bring a total of VND1.22 trillion. The sale will take place on December 5 on the Hanoi Stock Exchange.

* Citi and Lazada have launched Lazada Citi credit card in Vietnam, marking the first e-commerce credit card partnership in Vietnam, just one month after the launch of the same card in Malaysia and Thailand. Both sides are targeting over 500,000 sign-ups of the new card in the region over the next few years.

* Licogi 16 Company (LCG) has plans to issue nearly 29.4 million shares to the public next month to raise around VND294 billion. Of the proceeds, LCG will spend VND 130 billion restructuring its short-term debts. The firm booked VND55.6 billion in after-tax profit in the third quarter of 2019, up 53% year-on-year.

* Binh Minh Plastic Company (BMP) has chosen December 4 as the ex-dividend date and December 20 as the payment date for the first 2019 interim dividend of VND2,000 per share. The payment scheme was approved at its 2019 annual general meeting.

* The Hanoi Department of Taxation has issued a decision fining Tu Liem Urban Development Company (NTL) VND2.3 billion for fairing to issue several declarations related to land use rights and value-added tax, as well as declaring incorrect financial fees and costs.

* Vietnam National Shipping Lines (Vinalines) will sell 1.52 million shares, or 24.9%, in the International Labor and Services Stock Company (Inlaco-HP). The shares will be auctioned with a reserve price of VND2,700 per share. Inlaco-HP is one of the three member companies Vinalines plans to fully divest from by the end of this year. The other two are Tin Nghia Industrial Park Development Company and Seagull Shipping Company, with Vinalines’ respective stakes of 1.15% and 26.46%.


Category: Business, Vietnam

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