Business News in Brief

Vietnam Container Shipping Joint Stock Company (VSC) announced that it will close list of shareholders on August 28 to pay dividends for the first term of the year in cash at a ratio of 15 percent on September 16. Last year, the company paid dividends three times--two times in cash at a ratio of 40 percent and one time in shares at a ratio of 20 percent.

Pomina Steel Corporation (POM) announced that Thep Viet Co. Ltd only bought 127,990 shares out of 6.19 million shares that it registered to buy from July 17 to August 15, increasing its ownership ratio to 62.24 percent, or nearly 116 million shares.

Saigon Thuong Tin Real Estate JSC (SCR) announced that Thien Son Logistics registered to buy 1.9 million shares of SCR until September 18. In the second quarter of this year, SCR revenue was at VND193.7 billion, down 33.9 percent year-on-year, and a loss of VND57.7 billion, whereas it posted profit of VND5.4 billion in the second quarter of last year.

Dry Cell and Storage Battery Joint Stock Company (PAC) approved advance dividends for the first term of the year in cash at a ratio of 8 percent in September this year. Last year, the company paid dividends in three terms at total ratio of 20 percent. The company’s six-month-accumulated post-tax profit reached VND30.2 billion, achieving 47 percent of this year’s target.

Dong Phu Rubber Joint Stock Company (DPR) approved to buy back 1 million treasury shares in August and September this year at a price not higher than VND50,000 per share; contributed money to Dong Phu-Kratie JSC to increase ownership ratio to 58.3 percent; contributed VND16 billion to Dorufoam to increase stake to 74.6 percent; and to develop ribbed smoked sheet (RSS) plant project at Dong Phu-Dac Nong Company.

The State Securities Commission of Vietnam (SSC) has recently fined East Wing Asset Management Corporation VND30 million for disclosing late transaction result of sale of 400,000 shares of Alphanam Mechanical Electric JSC (AME); and Mr. Zhanghua, a major shareholder of Hung Long Mineral And Building Material JSC (KHL), VND50 million for not making major shareholder ownership report. 

Since the beginning of this month, SSC has slapped penalties on six institutions and one individual with total fine of VND345 million.

Source: Dau Tu Tai Chinh – Translated by Thuy Doan

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