Business Briefs 31 May 2018

31-May-2018 Intellasia | | 11:29 AM Print This Post

* Sonadezi Chau Due Joint Stock Company has applied to trade 100 million shares on the Hochiminh Stock Exchange. Established in 2007, the firm is active in the construction and real estate industry. In 2017, it made VND220 billion in revenue and VND79 billion in profit, up 116 percent and 79 percent against the previous year respectively.

* Dong Hai Ben Tre Company (DHC) is seeking shareholder approval to issue 6.9 million shares for the 2017 dividend payment of20%. The paper producer now has total chartered capital of over VND344 billion.

* Hoang Anh Gia Lai Agriculture Company (HNG) is going to issue over 221,000 convertible bonds with a face value ofVND10 million and a tenor of one year. It expects to raise over VND2.2 trillion to invest in fruit tree farming and restructure its finance. The HNG share price is around VND7,OOO per share on theHCMCitymarket.

* Truong Thanh Furniture Corporation (TTF) has transferred over 2.5 million shares, or a 48.02 percent stake, at Truong Thanh Xanh JSC, thus cutting its ownership from 99.99 percent to 51.97%.

* Torus Capital Investment Pte Ltd has become a major shareholder of An Phu Irradiation Company (APC) after acquiring over 422,000 APC shares to raise its ownership to 7.07%.

*Vietnam Electrical Equipment Corporation (GEX) will transfer its entire ownership in Cable Corporation (CAV), Electronic Equipment JSC (THI) and Hanoi Electromechanical Manufacturing JSC (HEM) to Gelex Electrical Equipment Co Ltd GEX now holds a stake of 79.76 percent in CAY, 79.79 percent in THI and 65.88 percent in HEM. The transfer is part of GEX’s scheme to restructure its business.

* Hoang Huy Investment Services Company (HHS) has spent VND92.6 billion purchasing 20 million shares as treasury shares, representing 9.2 percent of its outstanding shares. In 2018, the truck distributor aims for revenue ofVND1.05 trillion and pre-tax profit ofVND100 billion, up 15 percent and 31  percent against the previous year respectively.

* Saigon-Hanoi Bank (SHB) has launched a credit package worth VND2 trillion for individual clients who need capital for home building and. automobile purchases. The bank will apply lending rates from 9 percent per annum in the first 12 months.


Category: Business, Vietnam

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