Business Briefs 28 Dec 2018

28-Dec-2018 Intellasia | | 8:54 AM Print This Post

* LDG Investment Company (LDG) last week started construction on Thanh Do smart urban area in the Mekong Delta city of Can Tho with the total investment of over VND350 billion. With 156 ready-built townhouses, Thanh Do will be the first smart urban area in the region with Industry 4.O applications and will be officially launched onto the market in January 2019. At the ground breaking ceremony, LDG signed strategic cooperation agreements with partners in the fields of clean technology and energy to jointly develop the project.

* Vietnam National Petroleum Group (PLX) has registered to sell 12 million out of its treasury stock of 135 million shares next month. Transactions will be made within 30 days starting January 7,2019. The proceeds will be used to finance core business expansion.

* Post-Telecommunication Insurance Corporation (PTI) has estimated its net profit to plummet 89% against 2017 at VND15.9 billion this year, making up 13% of the full-year target, although its revenue is expected to climb 22.2% to VND4.1 trillion, exceeding the full-year goal by 11.2%, Of the amount, its financial income is estimated at VND18.4 billion, down 88% and fulfilling 12.5% of the year’s target. PTI has decided to pay a dividend of VND800 per share for 2018, or just two-thirds of the earlier plan. According to Viet Capital Securities Company, PTI ranks third in Vietnam’s non-life insurance market, second in the motor vehicle insurance, and first in online insurance.

* Saigon Plastic Packaging Company (SPP) has decided to sell 16.8 million shares to existing shareholders within the first quarter of2019. The issuance ratio with be 1-for-1,488 and the share selling price is VND10,000. SPP expects to raise VND168.8 billion from the debt issue to invest in Saplastic Long An factory project and upplement its working capital. SPP share price is hovering at around VND4,OOO on the Hanoi Stock Exchange.

* – Bac Ninh Clean Water Company (BNW) will debut on the market for unlisted public enterpries, or UPCoM, on December 28, The firm will trade over 37.5 million shares on the bourse with the initial price set at VND10,000.


Category: Business, Vietnam

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