Business Briefs December 20

20-Dec-2016 Intellasia | | 1:53 PM Print This Post

* Vietnam Electricity, the country’s power giant, is poised to inaugurate a VND35.7 trillion (US$1.59 billion) hydropower plant in the northern province of Lai Chau today, December 20, after six years of construction.

* Potential designs to be used for the new Long Thanh International Airport in the southern province of Dong Nai are scheduled to be on display in HCM City for public feedback between January 13 and 23, the project management board, managed by Vietnam Airlines, said Monday.

* The HCM City administration has called on the Ministry of Transport to select a VND62 trillion ($2.77 billion) project to develop yet another subway system, connecting Ben Thanh Market in the city’s centre and the outer district of Binh Chanh, as the recipient of Japan’s official development assistance.

* Benthanh Group has set June 6 as the record date to conduct a corporate value assessment in preparation for an initial public offering (IPO). The firm said it might hold an IPO auction next year if things go well. As of June 30, Benthanh Group had equity of VND2.46 trillion and total assets of VND3.35 trillion. In this year’s first half, the firm attained revenue of VND237 billion, up sharply from VND35 billion in the same period last year. Its net profit was almost unchanged from a year earlier at VND160 billion.

* Cuong Thuan IDICO Development Investment Corporation (CTI) said its revenue reached VND987 billion in January- November, exceeding the full-year plan by 94 percent, while its net profit stood at VND99 billion, representing 92 percent of the plan. The firm plans to pay a provisional dividend of 10 percent for 2016 in the first quarter of next year.

* Nguyen Duc Thien, a board member of Electronics Communications Technology Investment Development Corporation (ELC), has registered to sell one million ELC shares to reduce his ownership by 2.1 percentage points to 2.37 percent between December 21 and 30.

* PVcomBank has registered to acquire 20.4 million shares in PetroVietnam Securities Incorporated (PSI) to revise up its holding from 17 percent to 51.18 percent in one month starting from December 16.

* Vinacomin – Power Holding Corporation (DKT) made its debut on the market for unlisted public companies (UPCoM) last Thursday, offering 680 million shares at the reference price of VND14,000 each. DKT stood at this reference price at the close. The companywent public last year. By end-September, its accumulated losses had amounted to VND1.l4 trillion while its equity had neared VND5.8 trillion and total assets had exceeded VND26.4 trillion:

* Song Da No. 11 Company (SJE) said it would pay a 2016 first round dividend of 10 percent in cash for shareholders on the record date of December 23. Payments are due on January 6.

* Dang Thi Thanh Huu, a board member of Hai Phong Cement Packing Company (BXH), has registered to sell his entire stake of 128,400 BXH shares (4.26 percent) between December 16 and January l3.


Category: Business, Vietnam

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