Business Briefs 26 Sep 2019

26-Sep-2019 Intellasia | | 9:48 AM Print This Post

* Vietnam Investments Group (VIG) sold 12.8 million shares of Gemadept Corporation (GMD), equal to a 4.3% stake, through its vehicle Vietnam Investments Fund II, L.P. between August 23 and September 20. Earlier, VIG registered to sell all its stake in GMD, equivalent to 58 million shares, or 19.6% of GMD’s outstanding shares. However, it has not divested the remaining 15.3% stake in GMD due to the low selling prices.

* The board of directors at Tien Bo JSC (TTB) passed a resolution on acquiring more than three million shares worth VND92.2 billion of Thai Nguyen General Trade JSC. After the transfer, TTB will become a major shareholder in the lodging service provider.

* Sonadezi Corporation (SNZ) has chosen October 14 as the record date to pay a 2018 second-round cash dividend of 5%. It will spend more than VND188 billion on the payment, slated for October 25. In the first half of this year, SNZ made a net profit of around VND398 billion on revenue of VND2 billion, up 10.1 % and 3.2%, respectively from a year earlier.

* Tan Tao University JSC is trying to buy an additional ten million shares of Tan Tao Investment and Industry Corporation (ITA) until October 5 to increase ts holding in ITA to 8.93%, equal to 83.82 million shares, from the current 7.87%. ITA made a consolidated net profit of VND 103.63 billion on net revenue of VND355.21 billion in the first half of this year, up 137.2% and 76.1 % year-on-year, respectively.

* Vicostone JSC (VCS) will issue 3.2 million shares to existing shareholders for bonus giving at a 2.04-for-100 ratio. The quartz stone producer made a consolidated net profit of VND670.25 billion on net revenue of VND2.53 trillion in the first half of this year, up 28.7% and 17.3% year-on-year, respectively.

* The board of directors at CMC Corporation (CMC) decided to disband CMC Production and Trading Co., Ltd. as part of a plan to change the tech firm’s business strategy. One of its subsidiaries, CMS Production and Service Co., Ltd. (CMS) specializing in installing computers and offering computer services, will be in charge of the business and distribution sector of the closed firm.


Category: Business, Vietnam

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