Business Briefs October 17

17-Oct-2016 Intellasia | | 1:30 PM Print This Post

* A new Vietnamese stock index, called VNX Allshare Index, is slated for official launch on October 24, combining the two existing VN Index on the HCM Stock Exchange and the HNX Index on the Hanoi Stock Exchange.

* Military Commercial Bank (MBB) plans to issue 81.5 million shares to pay a 2015 second round dividend for shareholders at a 100:5 ratio on the record date of October 24.

* Transport firm ITL Corporation has registered to buy six million shares in South Logistics Company (STG) to increase its ownership by seven percentage points to 21.5 percent over one month starting from October 14.

* Dong Phu Rubber Company (DPR) said it posted VND407.3 billion in revenue in the first nine months of this year, down 19 percent from a year earlier, and VND96.5 billion in net profit, a 34 percent fall due to declining rubber latex export prices.

* Nguyen Cong Minh, a member of the supervisory board at IDICO Infrastructure Development Investment Company (HTI), will be buying 100,000 HTI shares to raise his holding to over 311,800 shares over one month starting from October 14.

* Hai An Transport and Stevedoring Company (HAH) obtained VND367.3 billion in revenue in the first nine months of this year, meeting 68 percent of the full-year target, and VND96.5 billion in net profit, representing 67 percent of the year’s forecast. The firm looks to attain revenue of VND523 billion and net profit of VND 143 billion in 2016, and plans to pay a dividend of 30 percent for this year.

* Paper producer Hapaco Corporation (HAP) said it would issue 4.1 million shares to pay a 2015 dividend of 8 percent for shareholders on the record date of October 20.

* Southern Airports Services Company (SAS), a subsidiary of Airports Corporation of Vietnam (ACV), will pay a 2016 dividend at VND500 a share for shareholders on the record date of October 21. The company will make payments on November 2. In the first half of this year, SAS saw its revenue increasing 5 percent year-on-year to VND1.05 trillion and its net profit climbing 4 percent to VND92.6 billion.

* Construction Company No.3 (VC3) plans to issue VND50 billion of bonds in a private placement in the final quarter of this year. The two-year debt has a fixed coupon of 10 percent per annum. It will spend VND199.5 billion on 5.7 million shares (95 percent) in Hanoi Construction Material JSC.

* Vietnam’s state-run lottery company Vietlott on Sunday evening announced one person had won the jackpot of over VND92 billion (US$4 million) for the first time ever.

* An official from the HCM City Export Processing Zone and Industrial Zone Authority (HEPZA) said they will provide potential investors with auspicious conditions by simplifying administrative procedures and cutting processing time by at least 30 percent in a bid to boost investment. HEPZA attracted investment totalling a mere $354.77 million in the first nine months of 2016, down by nearly 54 percent against the same period last year.

 


Category: Business, Vietnam

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