Business News in Brief

The State Securities Commission of Vietnam (SSC) has fined Hanoi Synthetic Paint Joint Stock Company VND60 million for announcing late the audited financial statement and annual report for 2012.

Earlier, SSC also fined Hung Long Mineral and Building Material JSC (KHL) VND60 million for late disclosure of financial statements for Q1, Q2, Q3, and Q4 of 2012, and Q1 and Q2 of 2013, reviewed half-year financial statement of 2012, audited financial statements for 2011 and 2012, and annual report for 2011 and 2012.

The Hanoi Stock Exchange (HNX) announced delisting of 13.5 million shares of Golden Bridge Vietnam Securities JSC (GBS) from October 23 for violating information disclosure obligation. Its last trading date on the northern bourse will be October 22. Earlier, HNX also decided to cancel listing of Trang An Securities Joint Stock Company (TAS) from September 23 for the same reason.

Pomina Steel Corporation (POM) announced that Thep Viet Co., Ltd registered to buy 5.91 million shares of POM within a month starting from September 26. This is the amount of shares that Thep Viet failed to buy out of 6.06 million shares it registered to buy earlier. If the transaction is successful, Thep Viet will increase its ownership ratio in POM to 65.48 percent from 62.32 percent.

Thu Duc Housing Development Corporation (TDH) announced that it finished transfer of VND3 billion of capital contribution at Gia Duc JSC, reducing the number of its associates to 12. According to its consolidated financial statement, the company got net revenue of VND190.6 billion and post-tax profit of VND1.1 billion in the first half of this year.

Saigon Thuong Tin Real Estate JSC (SCR) announced that Thien Son Logistics and Warehouse JSC registered to buy 1.1 million shares within a month starting from September 26 for investment. Earlier, Thien Son Logistics and Warehouse JSC bought 665,000 shares out of 1.9 million shares it registered to buy, increasing ownership ratio to 2.13 percent from 1.69 percent stake, or more than 3.2 million shares.

TMT Automobile Joint Stock Company (TMT) decided to withdraw from the automobile assembly plant project to focus on its production and trade. The plant whose investor is TMT Automobile Production and Assembling Co., Ltd. – a subsidiary of TMT, is located at Dinh Tra Hamlet in Giai Pham Commune in Yen My District in Hung Yen Province.

Viet Nhat Medical Instrument Joint Stock Company (JVC) announced that it will close the list of shareholders on October 10 to issue 7.4 million shares to pay dividends for 2012 at a ratio of 15 percent. Financial resource for the issuance will be taken from undistributed post-tax profit. After the share issuance, JVC will have a charter capital of VND568.1 billion.

Song Da No 6 JSC (SD6) will hold an extraordinary shareholders’ meeting on November 1 to ask for permission to sell 15.5 million shares to Song Da Corporation at a price of VND10,000 per share to merge Song Da – Hoang Long JSC into SD6. This year, SD6 sets target revenue at more than VND1.06 trillion, post-tax profit at VND41.3 billion, up more than 10 percent over last year, and dividend payout ratio at 15 percent.

Source: Dau Tu Tai Chinh – Translated by Thuy Doan

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