Business Briefs 31 July 2018

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

* The Vietnam Entertainment Fund (YEF), which aims to increase value through medium- and long-term investments in the entertainment sector, made its debut in HCMC on July 26. The open-ended fund, established under the consultation of VinaCapitai Fund Management, will operate to maximize profits for investors by increasing the capital value and dividend yield from initial investments, such as with intellectual property assets of films and fixed assets. YEF sets a minimum income plan of 8% per year and
a maximum of 10.5% for the 2018-2019 period, and minimum revenue of 10.5% for 2020-2022.

* HAGL Agriculture Company (HNG) announced that its fruit and rubber farms in Attapeu Province in Laos have seen little impact from the flash flood triggered by a dam collapse on July 23, explaining that the location of the farms is far from areas hit by the flood.

* Sao Ta Foods Company (FMC) said its net profit surged 52.8% year-on-year to VND30.4 billion in the third quarter of its 2017-2018 fiscal year starting last October. The firm’s net revenue grew 10.3% to VND944.8 billion in the period. FMC processed over 12,100 tons of frozen shrimp in the first nine months of the fiscal year, up 20% year-on-year, while selling 10,482 tons of aquatic products, up 21 % year-on-year.

* Tien Bo Group (TTB) will move its listing from the Hanoi Stock Exchange to the Hochiminh Stock Exchange in the third quarter of 2018. It is trading nearly 47 million shares on the northern bourse with its share price at overVND20,000 each. In 2018, TTB targets to obtain VND500 billion in revenue and VND50.5 billion in after-tax profit, up 28% and 26% versus last year, respectively.

* Netland Real Estate Company (NRC) said its net profit jumped 3.14-fold year-on-year to VND19.2 billion in the second quarter of this year. Its revenue climbed 4.48-fold to VND47.5 billion in the quarter, Established in 2014 with registered capital ofVNDL9 billion, NRC first operated in the fields of real estate brokerage. In 2017, NRC acquired a 95% stake in Danh Khoi Real Estate Company to expand its operation in the local market.


Category: Business, Vietnam

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