Business News in Brief

Vietnam National Reinsurance Corporation (VNR) approved to advance dividends for first term of 2013 in cash at a ratio of 10 percent at the end of last quarter of 2013. This year, the company plans to pay dividends at 20 percent. In the first nine months, VNR saw net profit of VND250 billion, up 62.3 percent year-on-year.

PetroVietnam Technical Services Corporation (PVS) will transfer 25 million shares of PetroVietnam Phuoc An Port Investment and Operation Joint Stock Company (PAP) to PetroVietnam at VND10,000 per share. In the first nine months, PVS profited nearly VND1.1 trillion, up 10.9 percent year-on-year, exceeding 38.5 percent of this year’s plan.

Becamex Infrastructure Development JSC (IJC) will ask for shareholders’ opinions about private placement of VND1 trillion bonds to mobilize additional capital for two projects Sunflower and Prince Town. The bond five-year term has face value of VND1 billion each.

FLC Group JSC (FLC) announced that its chairman Mr. Trinh Van Quyet, successfully sold 4.5 million shares, reducing his ownership to 7.13 percent, or 5.5 million shares. In the first three quarters, the company posted net profit of VND46 billion, 7.4 times higher than the same period last year, achieving 50 percent of this year’s plan.

Tien Phong Plastic Joint Stock Company (NTP) approved to advance dividends for first term of 2013 in cash at a ratio of 15 percent. This year, the company plans to pay dividends in cash at a ratio of 25 percent. The company’s nine-month-net profit was at VND216.3 billion, down 9.7 percent year-on-year.

Petroleum Equipment Assembly & Metal Structure JSC (PXS) announced that VND31.1 billion collected from its share issuance has been added to owner’s equity to implement its project. The company will continue to sell 1.32 million shares that it failed to sell in the earlier private placement of 9.4 million shares.

Source: Dau Tu Tai Chinh – Translated by Thuy Doan

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