Business Briefs December 8

08-Dec-2016 Intellasia | | 1:19 PM Print This Post

* Viet Capital Balanced Fund has registered to sell its entire stake of 77,000 shares in Hoa Sen Group (HSG) over one month starting from December 7.

* Saigon Thuong Tin Real Estate Company (SCR) said in a statement sent to the HCM City exchange that it plans to issue 10.8 million shares at VND10,000 each to increase its equity.

* Vietnam Steel Corporation has registered to sell 4. 7 million shares in Central Vietnam Metal Corporation (KMT) to reduce its holding from 82.9 percent to 35 percent over one month starting from December 7.

* Luu Quang Minh, deputy general director of Hanoi Investment general Corporation (SHN), has registered to sell 100,000 SHN shares to reduce his stake by 0.08 percentage point to 0.04 percent over three weeks starting from December 7.

* Hanoi Beer Alcohol and Beverage Corporation (BHN), Vietnam’s second largest brewery by market share, said its revenue rose 7 percent year-on-year to VND3.57 trillion in the third quarter of this year while its net profit fell 6 percent to VND402.3 billion due to an increase in sale costs. BHN’s sale costs rose 19 percent from a year earlier to VND316 billion between July and September. In the first nine months of this year, the firm saw its revenue dropping 5 percent versus the same period last year to VND7.61 trillion and its’ net profit dipping 21  percent to VND731 billion. Its inventory had leapt 14 percent from the end of 2015 to VND955.2 billion as of end-September, Viet Capital Securities Company reports.

* Lam Quy Chuong, chair of Vinh Khanh Cable Plastic Corporation (VKC), had bought 1.15 million shares of the firm as of November 29. After the transaction, Chuong raised his stake in VKC to 24 percent, or 4.8 million shares, from the previous 18.24 percent. Earlier, Lin Yu Hsing, a member of VKC’s board, sold over 2.5 million VKC shares. VKC’s revenue rose 14 percent year-on-year to VND861.2 billion in January-September and its net profit soared 2.5 times to VND34.2 billion.

* Nguyen Huu Thang, chair of Central Area Electrical Mechanical Company (CJC), has registered to buy 540,000 CJC shares to increase his holding by 27 percentage points to 51  percent.

* The number of enterprises using Internet banking has increased 54.5 percent during the past year, the HCM City branch of the State Bank of Vietnam has recently announced.


Category: Business, Vietnam

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