Stock market briefs

04-Feb-2020 Intellasia | The SaigonTimes | 6:02 AM Print This Post

Ha Do Group JSC (HDG) plans to buy a solar power project, called SP Infra 1, from Surya Prakash Vietnam Energy Co., Ltd The purchase will be made through the acquisition of the latter’s entire shares. If successful, Surya Prakash Vietnam would become a subsidiary of HDG. In 2019, HGG made a consolidated net profit of VND842.27 billion on net revenue of VND4.33 trillion, up 32.97 percent and 34.3 percent year-on-year, respectively.

HCM City Novaland Investment Group Corporation (NVL) said it had achieved its annual target with after-tax profit rising by 3 percent to nearly VND3.4 trillion. Last year it handed over more than 3,400 property units mostly at its major projects, such as The Sun Avenue, Sunrise Riverside and Saigon Royal.

HCM City The government would increase charter capital by VND10 trillion (US$430 million) for Vietcombank (VCB) and Vietinbank (CTG) in the first quarter of this year, said deputy prime minister Vuong Dinh Hue during a visit to Military Bank for the Lunar New Year on Thursday. As for Agribank (AGR), all its profit in 2020 will be used to increase capital rather than to contribute to the State budget. It was the first time the government detailed a roadmap for the banks’ recapitalisation since 2016 when the banks asked for the increase.

HCM City Saigon Thuong Tin Commercial Bank (Sacombank) reported that its consolidated pre-tax profit reached VND3.2 trillion (US$137.8 million) last year, more than 21 percent higher than its target. It has assets of nearly VND453.6 trillion, deposits of over VND410.33 trillion and outstanding loans of VND296 trillion. The bank had 5.3 million customers using its cards, with profits from card operations rising by more than 38%.

HANOI PetroVietnam Construction Joint Stock Corporation (PVX) said its consolidated loss sank 49.39 percent year-on-year to VND81.11 billion (US$3.4 million) in the fourth quarter of 2019, marking the third consecutive quarter of losses. PVX’s net revenue slumped 72.2 percent to VND315.72 billion in the quarter. The firm suffered a gross loss of VND148.24 billion in the period. The firm incurred a consolidated loss of VND198.27 billion on net revenue of VND1.94 trillion in 2019. PVX shares would be de-listed due to three consecutive loss-making years in case there is no major change in the upcoming audited financial reports.

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Category: Stocks, Vietnam

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