Business News in Brief

Kim Long Securities Corporation (KLS) registered to buy 15.2 million treasury shares until September 6 to stabilize market price of its shares. The company currently holds 4.1 million treasury shares. In the first six months of this year, the company revenue was at VND87.9 billion, down 45.4 percent year-on-year, and post-tax profit of VND77.5 billion, up 55 percent year-on-year.

Saigon Tourist Transport Corporation (STT) has been fined VND50 million by the State Securities Commission for announcing audited financial statement for 2012 late. According to the financial statement for 2012, STT suffered a loss of VND21.6 billion while it saw profit of VND3 billion in 2011.

Garmex Saigon Joint Stock Company (GMC) announced that it will close the list of shareholders on August 21 to pay dividends for the first term of this year in cash at a ratio of 10 percent on September 6. In 2011 and 2012, the company’s dividend payout ratio was at 25 percent. This year, the company set revenue target at VND1.1 trillion, post-tax profit at VND62 billion, and dividend payout ratio of 20 percent.

Quang Ninh Construction & Cement JSC (QNC) decided to dissolve Mong Cai Construction Enterprise from August 15 to merge with Ha Long Construction Enterprise. Earlier, the company dissolved Ha Tun Cement Plant due to ineffective business, and dissolved Uong Bi Construction Enterprise to change its operating model to a subsidiary company, of which QNC holds 51 percent stake.

MT Gas Joint Stock Company (MTG) announced that IMG Investment JSC owned its 51 percent stake after buying 3.24 million shares of MTG, increasing its holdings to 6.12 million shares. Before the transaction, IMG held 2.9 million shares of MTG, or 24 percent stake.

High Grade Brick Tile Joint Stock Company (MCC) announced that it will close the list of shareholders on August 22 to pay dividends for the last term of 2012 in cash at a ratio of 4 percent and advance dividends for the first term of this year in cash at a ratio of 6 percent on September 12. In the first half of this year, MCC reached revenue of VND23.5 billion, and profit of VND4.1 billion.

Hai Minh Corporation (HMH) announced that it will close the list of shareholders on August 30 to advance dividends for the first term of this year in cash at a ratio of 8 percent on September 10. In 2012, the company paid dividends at a ratio of 15 percent. This year, the company planned to achieve revenue of VND128.6 billion, profit of VND37.3 billion, and dividend payout ratio of 12-17 percent. In the first quarter of this year, the company saw post-tax profit of VND8.9 billion, up 30 percent year-on-year.

Source: Dau Tu Tai Chinh – Translated by Thuy Doan

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