Business News in Brief

The State Securities Commission of Vietnam has fined Huynh Thanh Huy in Cao Lanh City of Dong Thap Province VND250 million for controlling share price of CLG (Cotec Investment & Land-House Development JSC) from April 1 to 16 this year. Earlier, the commission had fined Huynh Thanh Tuyen in Ben Luc in Long An Province VND250 million for the same action for share price of HLG (Hoang Long Group).

Vingroup Joint Stock Company (VIC) recently approved to buy An Binh Company at VND3 billion then change it into VINGT Company and increase its charter capital to VND200 billion. Recently VIC announced that it has borrowed US$100 million at Libor interest rate plus 5.5 percent per annum within three years for investments in real estate projects.

Dien Quang Joint Stock Company (DQC) announced that it will advance dividends for the first term of this year on November 11 in cash at a ratio of 10 percent. With nearly 22 million shares floating in the market, the company will have to spend nearly VND22 billion for this dividend payment. Last year, the company paid dividends three times in cash with total ratio of 15 percent.

Ninh Hoa Sugar Joint Stock Company (NHS) announced that it will establish Ninh Hoa Thermoelectricity Company with a charter capital of VND300 billion.

Thien Nam Trading Import Export JSC (TNA) estimated that in the first nine months of this year, its revenue was more than VND1.12 trillion, surpassing 12.4 percent of this year’s plan, and its pre-tax profit touched VND34.5 billion, down 12.8 percent year-on-year, accounting for 86.3 percent of this year’s plan. The company will advance dividends for the first term of this year in cash at a ratio of 10 percent.

Song Da No.6 JSC (SD6) announced its business plan for the last quarter of this year with revenue at VND275.7 billion, and post-tax profit at VND13.2 billion. In the first nine months of this year, SD6 posted revenue of VND844.2 billion and net profit of VND36.9 billion, achieving 79 percent and 89 percent of this year’s plan, respectively.

Ben Tre Aquaproduct Import and Export JSC (ABT) announced that it will close the list of shareholders on October 28 to advance dividends for the second term of this year on November 8 in cash at a ratio of 15 percent. The company advanced dividends for the first term of this year at a ratio of 30 percent in August this year. The company’s dividend payout ratio was at 60 percent last year, and is expected to be around 40-60 percent this year.

Da Nang Housing Investment Development JSC (NDN) announced that the company got net revenue of VND54.5 billion and post-tax profit of VND10 billion in the third quarter of this year, 44.6 percent and 5.7 times higher than the same quarter last year, respectively. In the first nine months, revenue hit VND109.5 billion, up 15.8 percent year-on-year, and post-tax profit reached VND17.8 billion, 3.7 times higher than the same period last year, exceeding 34 percent of this year’s plan.

Source: Dau Tu Tai Chinh – Translated by Thuy Doan

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