Business Briefs December 29

29-Dec-2016 Intellasia | | 1:36 PM Print This Post

* PetroVietnam Low Pressure Gas Distribution Company (PGD) told a review meeting recently that its pre-tax profit would reach an estimated VND268.68 billion this year, surpassing the whole year’s plan by 96 percent. PGD is also expected to pay VND96.5 billion to the State budget in 2016.

* Pha Lai Thermal Power Company (PPC) said it would pay a 2016 dividend in cash for shareholders at 8 percent on the record date of December 29. Payments will be made on February 10.

* Consultancy Design & Urban Development Company (CDO) said its net profit would likely reach VND47 billion in 2016, representing 83 percent of the full-year plan. Next year, the enterprise looks to attain VND55 billion in after- tax profit, including VND 10 billion from hotel operation, VND20 billion from design, VND20 billion from construction and VND5 billion from trade activities. CDO said it is implementing the Phonsavan hotel project in Laos with investment capital of VND254 billion and plans to conduct an exhibition centre at a cost of VND120 billion in the same locality in the fourth quarter of 2017.

* Vietnam National Seed Corporation (NSC), the largest seed producer by market capitalisation in the country, will spend VND22.8 billion paying a provisional dividend ofVND 1,500 a share for 2016 on the record date of January 6. The timetable for its payments has not decided. In the first nine months of this year, the enterprise attained revenue of VND895 billion, up 9 percent year-on-year, and net profit of VND107.1 billion, an 8 percent pickup.

* Vo Anh Linh, chair of Post & Telecommunications Investment and Construction Company (PTC), has registered to buy 943, 120 PTC shares to increase his ownership from 19.1 percent to 24.3 percent in one month starting from December 29.

* Viet Tri Chemical Company (HVT) has issued roughly 3.14 million shares to increase equity, raising the firm’s total outstanding volume to 10.9 million shares. The new shares will be tradable on December 30.

* South Korea’s Dongwon Systems Corporation said -it has acquired 642,938 shares of Tan Tien Plastic Packaging Company (TIP) to raise its stake in the local firm to 13.2 million shares (97.83 percent).

* Vietnam’s GDP growth in 2016 has reached 6.21 percent, failing to meet the target of 6.7 percent, the general Statistical Office of Vietnam has recently announced.

* According to the Vietnam Fruit and Vegetable Association, Vietnam’s fruit and vegetable exports are expected to reach $235 million this month, bringing the total turnover of this year to $2.4 billion.

* Nguyen Hoang Minh, deputy director of the HCM City branch of the State Bank of Vietnam, requested at a Tuesday working session that banks replenish their ATMs with sufficient amounts of money when demand for cash withdrawal spikes prior to Tet, and ensure their machines will not break down en masse during the season of high demand like previous years.

* Vietnam spent up to $7.64 billion importing 17.65 million metric tonnes of steel of various kinds as of December 15, according to the latest statistics released by the general Department of Vietnam Customs.


Category: Business, Vietnam

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