Business News in Brief

Cotec Investment & Land-House Development JSC (CLG) planned to issue 20 million shares at VND10,000 per share under two ways of selling to existing shareholders at a ratio of 1:1 and issuing for its strategic partners.

The company will use VND75.5 billion of the sum collected from the share issuance to buy 30 percent stake of Dong Nai General Hospital JSC; VND45 billion to own 45 percent stake in Hang Ha JSC; VND29 billion to invest in the project Blue Sapphire International Nursing Hospital; and VND50 billion to add to its working capital.

PetroVietnam Gas Corporation (GAS) explained the difference of its first-six-month post-tax profit in 2013 between the figures VND6.2 trillion announced on its website and VND7.04 trillion in its financial statement for the second quarter of this year as estimated figure calculated before June 25 so it could not collect all its business result.

Khang Dien Investment & Trading House JSC (KDH) has completely transferred 24.9 percent stake in Khu Dong Real Estate Investment and Trade Company at a cost of VND69.72 billion, reducing its ownership ratio to 30 percent. According to the company’s unconsolidated financial statements in the second quarter of the year, the company saw revenue of VND99.5 million and loss of VND40.4 billion.

FPT Corporation (FPT) announced that it will close the list of its shareholders on August 19 to pay dividends for the first term of this year in cash at a ratio of 15 percent on August 30. In the second quarter of this year, the company saw net revenue of nearly VND9.34 trillion, a drop of 3.41 percent year-on-year, and post-tax profit of VND444.8 billion, an increase of 7.9 percent year-on-year. Its-six-month-accumulated net revenue exceeded VND17.94 trillion, and post-tax revenue reached VND803.1 billion.

Dam Sen Water Park Corporation (DSN) announced that it will close the list of its shareholders on August 28 to pay dividends for the first term of this year in cash at a ratio of 20 percent on September 11. In the second quarter of this year, the company’s net revenue was at VND57 billion and post-tax profit at VND26.3 billion.

Truong Thanh Furniture Corporation (TTF) will issue 14.44 million shares at VND5,000 per share. Of which, the company will sell 8.86 million shares to its existing shareholders at a ratio of 20:3, and 5.58 million shares to its strategic shareholders. The amount of money of around VND72.2 billion collected will be used to restructure its finances, add to its working capital, and improve cash flow.

Source: Dau Tu Tai Chinh – Translated by Thuy Doan

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