Business News in Brief

Vingroup Joint Stock Company (VIC) announced establishing the Ha Thanh Real Estate Investment and Urban Infrastructure Development Company with a charter capital of VND6 billion to carry out the Beltway No. 2 project in Hanoi City. In the first nine months, VIC profited VND6.05 trillion, up 311 percent year-on-year.

PVI Holdings (PVI) registered to buy 2.01 million treasury shares in December using capital surplus and retained profits to stabilize market value. PVI currently holds 7.99 million treasury shares and will pay dividends in cash at a ratio of 8 percent on February 21, 2014.

Ho Chi Minh City Infrastructure Investment JSC (CII) announced that it contributed VND103.2 billion, or 43 percent stake, to establish Tan Hiep Water Investment Joint Stock Company whose charter capital is VND240 billion. Tan Hiep Water Investment Joint Stock Company was established on November 19 to implement the Tan Hiep 2 Water Plant project which will supply purified water to residents in Hoc Mon District in Ho Chi Minh City with capacity of 300,000 cubic meters per day.

Vietnam Fumigation Joint Stock Company (VFG) will close the list of shareholders on December 4 to advance dividends for the second term of 2013 in cash at a ratio of 10 percent on December 30. This year, the company plans to pay dividends at a ratio of 25 percent. In the fiscal year of 2012-2013, VFG saw net profit of VND73.7 billion, down 15 percent compared to the previous year.

Saigon Securities Incorporation (SSI) announced that the company posted revenue at VND522.5 billion and pre-tax profit at VND416.8 billion in the first nine months, up 29.2 percent year-on-year, achieving 85 percent of this year’s plan. By the end of September, the company’s total asset nearly touched VND8.44 trillion, up 5.7 percent compared to that in the beginning of this year. Of which, cash and equivalents reached VND2.54 trillion, up 30.6 percent.

Phuoc Hoa Rubber Joint Stock Company (PHR) announced that it sold 23,898 tons of rubber sap in ten months at an average price of VND54.76 million per ton. The company got revenue of VND1.32 trillion and pre-tax profit of VND290.5 billion, achieving 82 percent of this year’s plan.

PetroVietnam Drilling & Well Services Corporation (PVD) will close the list of shareholders on December 4 to pay dividends for the year 2012 in cash at a ratio of 10 percent on December 16 and through shares at a ratio of 10 percent on December 20. In the first nine months, PVD profited more than VND1.39 trillion, exceeding this year’s plan by 2.6 percent.

Orient Securities Corporation (ORS) announced that Saigon General Service Corporation (SVC) registered to divest all 2.4 million shares, or 10 percent stake in ORS, until December 12. In the first nine months, ORS had revenue of VND7.4 billion, down 60 percent year-on-year, and net loss of VND1.6 billion, while it lost VND386 million in the same period last year.

Source: Dau Tu Tai Chinh – Translated by Thuy Doan

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