Business News in Brief

Rang Dong Plastic JSC (RDP) approved to sell nearly 2.9 million shares to its existing shareholders at a ratio of 4:1 at VND10,000 per share. The amount of money collected from the share sale will be used to buy equipment and invest in Tien Son project.

Hoc Mon Trade Joint Stock Company (HTC) will close the list of shareholders on November 27 to advance dividends for first term of 2013 in cash at a ratio of 5 percent on December 16. In the first nine months, HTC got revenue of VND708.7 billion, up 102 percent year-on-year, and post-tax profit of VND18.2 billion.

Ha Tien 1 Cement Joint Stock Company (HT1) announced that it offered to sell 120 million shares to Vietnam Cement Industry Corporation at VND10,000 per share to write off debt. After the issuance, Vicem holds 79.7 percent stake, or 253.42 million shares of HT1. By the end of third quarter of 2013, HT1 owes total debt of more than VND1.6 trillion, of which it owes Vicem nearly VND1.22 trillion.

Dat Xanh Real Estate Service & Construction Corporation (DXG) approved to transfer Tan Vu Minh residential project in Binh Duong Province for VND70 billion to earn profit of VND40 billion. In third quarter of 2013, DXG profited VND31.5 billion, 61 times higher compared to the same quarter last year, as it finished transferring 100 percent contribution capital in Ly Khoa Nguyen Company, helping its revenue to reach VND41 billion.

Hapaco Corporation (HAP) will issue 4.2 million bonus shares to its current shareholders at a ratio of 15:100, funded by its share premium. In the first nine months, HAP saw profit of VND24.6 billion, five times higher year-on-year.

Hai Ha Confectionery JSC (HHC) will close the list of shareholders on November 28 to advance dividends for 2013 in cash at a ratio of 15 percent on December 25. This year, the company set revenue target at VND720 billion, pre-tax profit at VND29.5 billion, and dividend payout ratio at 15 percent. In the first nine months, HHC posted revenue at VND507.1 billion and profit at VND11.7 billion, up 11.2 percent and 11.7 percent year-on-year, respectively.

Phuong Nam Education Investment & Development JSC (SED) will close the list of shareholders on November 22 to advance dividends for first term of 2013 in cash at a ratio of 18 percent on December 23. This year, the company set revenue target at VND300 billion, pre-tax profit at VND33 billion, and dividend payout ratio at 18 percent upwards.

FLC Group JSC (FLC) announced that Trinh Van Quyet, Company Chairman, registered to sell 4.5 million shares within a month from November 15. After the share sale, Mr. Quyet will still hold 5.5 million shares, or 7.1 percent stake in FLC.

Source: Dau Tu Tai Chinh – Translated by Thuy Doan

Other news