Business Briefs 27 July 2018

27-Jul-2018 Intellasia | | 8:08 AM Print This Post

* Saigon Ground Services Company (SGN) will begin trading nearly 24 million shares on the Hochiminh Stock Exchange on August 1, with the initial price set at VND140,000 each, SGN currently owns a 51 % stake at Sai Gon – Cam Ranh Ground Services Company.

* Licogi 16 Company (LCG) has announced to spend VND16 billion buying 1,6 million shares, or an 80% stake, in Licons Vietnam Company. The firm’s shareholders have also approved the investment ofVND45 billion in a water supply company, which will operate at Dong Nam QuangTri Economic Zone with a chartered capital ofVND150 billion,

* Vingroup Company (VIC) has announced to establish VINID Joint Stock Company with chartered capital ofVND3 trillion. VIC will hold an 80% stake in VINID, VIC has added 553.9 million shares on the Hochiminh Stock Exchange, raising its total outstanding volume of nearly 3.2 billion shares,

* HCMC Infrastructure Investment Corporation (CIl) has bought back over 1. 7 million shares as treasury shares, taking to 35.3 million shares the total number of its treasury shares,

* Vietnam Electric Cable Corporation (CAV) said its consolidated net profit fell 3.6% year-on-year to VND81 billion in the second quarter of this year. The firm’s consolidated revenue grew 14,7% to VND2 trillion in the period. Its selling costs jumped 33.9% to VND44 billion in the quarter.

* Long Hau Corporation (LHG) said its net profit skyrocketed 3,97 -fold year-on-year to VND46.2 billion in the second quarter of this year, fulfilling 96% of its full-year target. The firm’s revenue grew 27.9% to VND87.2 billion in the period, meeting 53,2% of the whole-year plan. LHG earned a financial income ofVND16,18 billion in the second quarter, against the financial loss ofVND701.9 million a year earlier.

* The Ministry of Construction failed to sell over 80,5 million shares ofViglacera Corporation (VGC) during the registered period from June 27 to July 20 due to lower-than-expected selling prices, The ministry is holding nearly 242 million shares at the building material firm, or a 53,9% stake. Meanwhile, Dragon Capital has acquired 420,000 shares ofVGC to raise its ownership to over 44,9 million shares, or 10%.


Category: Business, Vietnam

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