Business Briefs December 5

05-Dec-2016 Intellasia | | 1:33 PM Print This Post

* Can Don Hydro Power Company (SJD) has announced December 12 as the ex-dividend date to pay a 2015 dividend in cash for shareholders at 25 percent. Payments are due on December 23. The enterprise saw its revenue skidding 13 percent from a year earlier to VND264.8 billion in the nine months of this year and its net profit falling 36 percent to VND99.7 billion.

* Electrical Equipment Company (Thibidi) said it would complete a list of shareholders on the record date of December 5 to register its listing on the Hochiminh Stock Exchange. In November, the firm issued 23.6 million shares for Vietnam Electrical Equipment Company (Gelex) at VND24,500 each and collected over VND578 billion. After the share purchase, Gelex’s stake in Thibidi climbed to 34.45 million shares (70.79 percent). Thibidi has chartered capital of VND488 billion, equivalent to 48.8 million shares.

* Nguyen Minh Quang, chief accountant of Consultancy Design & Urban Development Company (CDO), has registered to buy 200,000 CDO shares to increase his ‘holding from 1.7 percent to 2.4 percent in two weeks starting from December 6.

* Vietnam Enterprise Investment Limited, a member of Dragon Capital, said it acquired 10 million shares in Nam Kim Steel Company (NKG) and became the biggest shareholder of the steelmaker from November 24 with a 15.14 percent stake. Amersham Industries Limited, another member of Dragon Capital, is holding a Q.98 percent stake in NKG. In January-September, NKG posted revenue of VND6.47 trillion, up 65 percent year-on-year, and after-tax profit of VND454 billion, up 342 percent.

* Ton Chuong Duong, a board member of Do Thanh Technology Corporation (DTT), has registered to buy 348,130 DTT shares to increase his ownership to 400,000 shares (4.9 percent) from December 2 to 30.

* Kon Turn Sugar Company (KTS) said it would pay a 2016 dividend in cash for shareholders at 40 percent on the record date of December 7. Payments will be made on December 22.

* Asean Deep Value Fund has registered to acquire 150,000 shares of Asia - Pacific Investment Company (API) to revise up its stake by 0.4 percentage point to 11.6 percent in one month starting from December 1.

* The State Bank of Vietnam on December 1 dismissed rumours on social media that banknotes would be changed, saying this is fake news, reports the Vietnam News Agency. The central bank urged the public to stay vigilant over such rumours to avoid losses that will affect themselves and the national currency security. It affirmed that recent changes of banknote denominations in some countries would not affect the dong currency.

* Vietnam exported an estimated 4.54 million tonnes of rice worth $2 billion in January-November, dropping 25 percent in volume and 20.3 percent in value against the same period last year, according to the Ministry of Agriculture and Rural Development, the news site reports. For the first ten months, China continued to be Vietnam’s biggest rice importer with $678.7 million spent on 1.51 million tonnes of rice, down 13.7 percent and 22.5 percent respectively. It is followed by Ghana with 442,200 tonnes worth $217 million, surging 38.6 percent in volume and 33.3 percent in value.

* Viglacera Corporation, a leading producer of construction glass and ceramic tiles in Vietnam, is preparing to establish a porcelain joint venture with a partner in Cuba, and build a hotel there. The company has signed an agreement with Cuba’s Geicon Group to set up a 50:50 joint venture with total chartered capital of $40 million to make porcelain bathroom products and tiles. The agreement was made when Viglacera’s general director Nguyen Anh Tuan visited Cuban capital Havana late last month. The Vietnamese firm also worked with Cuban hotel chain operator Islazul and struck a letter of intent to invest in a hotel project in Cuba.

* Thirty enterprises joining an online sales programme starting this Friday in replicating the Black Friday shopping weekend in the US had reaped a total revenue of VND644 billion (US$28.4 million) with over 540,000 orders as of Saturday.

* The Vietnamese government has signed a total of 34 agreements to borrow over $5.1 billion in foreign loans and issued bonds worth about VND274.5 trillion ($12.1 billion) in the first 11 months of this year, according to a report by the Ministry of Finance.

* Vietnamese conglomerate Vingroup has announced a new public real estate division, Vincity, which is expected to provide between 200,000 and 300,000 affordable apartments, priced at about VND700 million ($30,866) each, in the next five years.

* Vietnam’s foreign arrivals are expected to top 10 million in 2016, a strong rise from 7.94 million last year, according to the Vietnam National Administration of Tourism.

* South Korean food company CJ CheilJedang received shareholders’ approval on Friday for its proposal to increase its stake in Vietnamese peer Cau Tre to 47.33 percent.


Category: Business, Vietnam

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