Business Briefs 30 May 2018

30-May-2018 Intellasia | | 2:53 PM Print This Post

* Saigon Thuong Tin Real Estate Company (SCR) will buy over 5.7 million shares in Nguyen Kim Da Nang Trading Company to secure a 90 percent stake. SCR plans to spend VND297 billion on the acquisition.

* Viet Dragon Securities Company (VDS) has decided to issue 500,000 convertible unsecured bonds with a face value ofVND 1 million each, raising VND500 billion.

* Phu Nhuan Jewellery Company (PNJ) has announced June 15 as the record date for shareholders to receive bonus shares at a ratio of 50%. PNJ plans to issue over 54 million shares for the payment, thus raising its chartered capital to over VND1.6 trillion. In addition, the firm is going to issue over 4.86 million shares given an employee stock ownership plan at the selling price ofVND20,000 per share.

* PetroVietrtarn Technical Services Corporation (PVS) looks to make VND13 trillion in revenue and VND560 billion in after-tax profit this year, down 22.7 percent and 30.4 percent compared to 2017. According to Viet Capital Securi- ties Company, the gloomy outlook for 2018 is a result of lower orders in the engineering and construction segment given no contributions from the Red Emperor project, difficulties at the Long Phu 1 project and limited progress ofBlock B. The floating oil storage segment is under pressure from a day rate cut from the operators and the ship segment faces heightened competition from private companies. Only the port segment is expected to remain stable.

* Vinh Phuc Infrastructure Development Company (IDV) will pay a dividend ofVNDl,OOO per share for 2017 as of June 8. Currently, the firm has 16.17 million outstanding shares. It will make the payment on June 25. Previously, IDV received approval from its shareholders to issue 2.22 million shares for dividend payment at a 100-for-15 ratio.

* Nam Hoa Trading and Production Company (NHT) is seeking shareholder approval to move its listing to the Hanoi Stock Exchange. Cur- rently, NHT is trading nearly 5.5 million shares on the market for unlisted public firms, or UPCoM, with its shares Istanding at around VND50,300 each compared to the debut price ofVND20,OOO on December I, 2017.


Category: Business, Vietnam

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