Business News in Brief

Ho Chi Minh Stock Exchange recently announced it will cancel listing of 600 million shares of PetroVietnam Finance Corporation (PVF) from September 24 because it will merge with Western Bank to become Vietnam Public Commercial Bank. The last trading date of PVF on the city bourse will be September 23.

Hanoi Stock Exchange (HNX) recently put CMISTONE Vietnam Joint Stock Company (CMI) and Can Tho Mineral & Cement Joint Stock Company (CCM) on the list of stocks ineligible for margin trading as the two companies first-six-month post-tax profits were in minus. In particular, CMI lost nearly VND4.3 billion while CCM lost more than VND1 billion.

Earlier, Vinaconex 21 Joint Stock Company (V21) was also banned from margin trading due to loss of nearly VND5.7 billion in the first half of this year.

HNX has allowed FLC Joint Venture Investment International JSC (KLF) to list 26 million shares on the bourse. In 2012, despite economic difficulties, KLF still benefited about 15 percent.

Phu Nhuan Jewelry Joint Stock Company (PNJ) announced that it will issue 3.6 million shares to sell to its employees at a price of VND10,000 per share from September to December 31 this year. Of which, 40 percent of the share will be sold to the company’s leaders. These shares will be restricted from transferring for three years.

Vinaconex Xuan Mai Concrete & Construction JSC (XMC) announced that Khai Hung Company now owns 51.01 percent stake of the company after buying 10.2 million shares of XMC on September 5. On the same day, Vietnam Construction and Import-Export Joint Stock Corporation (VCG) announced that it divested all of 10.2 million shares of XMC, or 51.01 percent stake.

Song Da 9.01 Joint Stock Company (S91) announced that on November 15 it will pay dividends for the year 2012 in cash at a ratio of 15 percent and advance dividends for the year 2013 in cash at a ratio of 12 percent. On September 27, S91 will close the list of shareholders to hold extraordinary meeting of shareholders to discuss on the merger with Song Da No 9 JSC (SD9) on October 15. In the first six months of this year, S91 got revenue of VND80.3 billion and net profit of VND3.6 billion, up 93 percent and 103 percent year-on-year.

Simco Song Da JSC (SDA) was recently removed from warning status as it saw net profit of more than VND3.4 billion. Earlier, SDA was put into warning status since April 8 as it lost VND0.55 billion last year.

Source: Dau Tu Tai Chinh – Translated by Thuy Doan

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