Business News in Brief

Thac Mo Hydro Power Joint Stock Company (TMP) announced that Refrigeration Electrical Engineering Corporation (REE) registered to buy 16.11 million shares of TMP from August 16 to September 13 to increase its ownership ratio to 35.5 percent stake, or 24.8 million shares. The company six-month-accumulated post-tax profit was at VND54.9 billion, achieving 70.7 percent of this year’s plan.

Nui Nho Stone JSC (NNC) announced that it will close the list of shareholders on August 28 to pay dividends for the first term of this year in cash at a ratio of 30 percent on September 16. In the first six months of the year, NNC reached net revenue of VND155 billion, accounting for 53.6 percent of this year’s plan, and post-tax profit of VND39.3 billion, accounting for 70 percent of the annual plan.

Vietnam Container Shipping Joint Stock Company (VSC) announced that it will buy 37 percent stake of Danalogs Company at VND11,000 per share, build a warehouse to put in use in the first quarter of 2014, and buy five new trucks. In the first six months, VSC saw revenue of VND363.5 billion, and pre-tax profit of VND126.9 billion.

Southern Seed Corporation (SSC) announced that in the first half of this year it posted revenue of VND346.8 billion and post-tax profit of VND47.1 billion, up 42.9 percent and 25.8 percent year-on-year and achieving 46.7 percent and 51.7 percent of this year’s plan.

National Seed Joint Stock Company (NSC) saw revenue at VND333.5 billion and post-tax profit at VND53 billion in the first six months of this year, up 2.2 percent and 14.7 percent year-on-year, respectively; and earning per share at VND5,247. This year, the company targets revenue of VND598.3 billion, and post-tax profit of VND96 billion.

Dong Nai Paint Corporation (SDN) announced that it will close the list of shareholders on August 23 to pay dividends for the first term of this year in cash at a ratio of 10 percent on September 25. In the first six months of this year, SDN reached net revenue of VND53.2 billion, post-tax profit of VND3.5 billion, and earning per share at VND2,271. This year, the company set revenue target at VND92 billion, pre-tax profit at VND5.5 billion, and dividend payout ratio from 15 percent.

Vietnam German Steel Pipe JSC (VGS) announced its consolidated business results for the first six months of this year with net revenue at VND1.27 trillion, down 7.7 percent year-on-year and accounting for 63.9 percent of this year’s plan; and post-tax profit at VND4.2 billion, up 50 percent compared to the second quarter of last year and achieving 31.2 percent of this year’s plan.

Chuong Duong JSC (CDC) announced that it changed the date for paying dividends for the first term of 2011 to March 14, 2014 instead of August 15 this year as scheduled because it failed to prepare enough money. The company has not announced financial statement for the second quarter of this year. In the first quarter, its net revenue touched VND24.2 billion, and pre-tax profit was at VND249 million, accounting for 2.4 percent of this year’s plan.

Source: Dau Tu Tai Chinh – Translated by Thuy Doan

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