Business Briefs December 13

13-Dec-2016 Intellasia | | 1:32 PM Print This Post

* The Saigon Union of Trading Cooperatives (Saigon Co.op) has opened a Co.opmart supermarket in Thot Not District, Can Tho City, its second in the Mekong Delta city and its 85th nationwide. It cost more than VND100 billion (US$4.44 million) to build Co.opmart Thot Not supermarket, which covers 4,800 square meters and stocks over 30,000 products, 90 percent of them made in Vietnam.

* The number of Vietnam’s guest workers reached 108,530 in the Jan-November period of this year, overshooting the target set for the period by 8.5 percent, the Vietnam News Agency reported on Friday, citing the Vietnam Labour Export Association.

* HCM City targets a GDP growth between 8.4 and 8.7 percent in 2017, according to a resolution reached by the city’s People’s Council on Friday.

* While Vietnamese airlines have planned to add 1,285 flights to meet high demand during the upcoming Lunar New Year, falling late January 2017, the country’s aviation watchdog has said it may not approve those additional flights, even though tickets have already been sold.

* Dong A Bank announced on its website on Saturday that five of its former leaders and employees, including former general director Tran Phuong Binh, had been arrested for being involved in numerous violations in financial management and credit granting at the lender before 2012.

* Over the past 30 years, Vietnam has received an actual inflow of $160 billion in foreign direct investment (FDI), though the total registered amount is $300 billion, Professor Nguyen Mai, chair of Vietnam’s Association of Foreign Invested Enterprises, said at a workshop on Saturday.

* Airports Corporation of Vietnam (ACV) plans to transfer nearly 3.95 million shares of Southern Airports Services Company (SAS) to other investors to reduce its stake in SAS by three percentage points to 48 percent. The transaction is slated between December 6 and January 4. SAS has hovered around VND26,000 a share so ACV will likely fetch some VNDI00 billion from the share sale. Earlier, ACV sold nearly 132 million shares in Saigon Ground Services Company to cut its holding from 54.62 percent to 48.02 percent.

* PetroVietnam Drilling & Well Services Corporation (PVD) has issued 34.79 million shares to pay a dividend for shareholders, sending its total outstanding volume rising to 383.26 million shares. The new shares will be tradable on December 16.

* PetroVietnam Power Nhon Trach 2 Company (NT2).said it would pay a 2016 second round dividend in cash for shareholders at 5 percent on the record date of December 21. Payments will be made on January 12.

* Dang Thanh Tam, chair of Kinh Bac City Development Holding Corporation (KBC), has registered to buy 1.3 million KBC shares to increase his stake from 15.7 percent to 16 percent over one month starting from December 14.

* Lilama 18 Company (LM8) will spend VND9.4 billion paying a 2016 dividend of VND1,000 per share for shareholders. The company will make payments on January 20. The realty developer looks to obtain revenue of VND 1.46 trillion this year, 42 percent higher than the target, and pre-tax profit of VND60.3 billion, surpassing the plan by 21  percent.

* Le Hung, chair of Binh Thanh Import – Export Production & Trade Company (GIL), will acquire 200,000 GIL shares to revise up his ownership by 1.45 percentage points to 13.49 percent between December 13 and January 11.

* Sonadezi Environment Company (Sonaenco), headquartered in Dong Nai Province, has got permission to list 30 million shares worth a combined VND300 billion on the market for unlisted public companies (UPCoM). Sonaenco went public in 2015. In the first nine months of this year, it posted revenue of VND174 billion, up byVND78 billion from a year earlier.



Category: Business, Vietnam

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