Business news in brief on June 11

Mekong Housing Joint Stock Commercial Bank (MHB) has just approved a resolution of shareholders’ meeting for this year’s business plan. Accordingly, the company targets total assets of VND54.5 trillion, owners’ equity of VND3.8 trillion, pre-tax profit of VND200 billion, outstanding loans growth rate of 17 per cent, capital adequacy ratio of 9 per cent, and bad-debt ratio of less than 3 per cent.

Ho Chi Minh City Securities Corporation (HSC) has recently reached an agreement with Cho Lon Securities Joint Stock Company (CLSC) to receive all clients who opened accounts and did transactions at CLSC. HSC vowed to treat and serve the new clients on equal terms and policies to its current clients.

State Securities Commission of Vietnam gave nod to the issue of 60.18 million shares of FLC Group Joint Stock Company (FLC) to exchange with 51 million shares of FLC Land Joint Stock Company at a ratio of 1.18:1 for merging two companies. After the merger, FLC will have a chartered capital of VND771.8 billion, and a total asset of more than VND2 trillion. This year, the company plans to pay dividends in cash at a ratio of 15 per cent.

Truong Thanh Furniture Corporation (TTF) announced that it will close its list of shareholders to give them bonus shares at a ratio of 20 per cent on June 21. This year, TTF plans to reach revenues of VND3 trillion, profit of VND40-59 billion, earn per share from VND1,282, and maintain its position as one of the best furniture makers in Vietnam.

Post Telecommunication Joint Stock Insurance Corporation (PTI) announced that Vietnam International Bank (VIB) registered to sell all 2.31 million shares or 5.14 per cent of PTI shares within a month from June 11. PTI will issue 5.4 million bonus shares, funded from capital surplus, to reward its current shareholders at a ratio of 12 per cent. The company’s plan this year is to achieve revenue of VND1.53 trillion, profit of VND82 billion, and dividends of 13-14 per cent.

Hoang Quan Consulting Trading Service Real Estate Corporation (HQC) announced that it has given permission to increase the number of apartments in Sovrano Plaza project located on Nguyen Van Linh Street, District 8 to 1,060 apartments from 559. The project consists of nine blocks, covering an area of 35,290 square metres, and construction floor area of 39 per cent.

DIC Investment & Trading Joint Stock Company (DIC) announced that it will close its list of shareholders on June 20 to pay dividends for the year 2011 in cash at a ratio of 10 per cent and give bonus shares at a ratio of 10:1 on July 18.

Materials Petroleum Joint Stock Company (COM) will close its list of shareholders on June 21 to pay dividends for the third term of 2011 in cash at a ratio of 9 per cent on July 6.

VNT Logistics Joint Stock Company (VNT) will close its shareholder list on June 18 to pay dividends for the first term of this year in cash at a ratio of 10 per cent on June 29.

Lam Thao Fertilizer and Chemicals Joint Stock Company (LAS) will close its list of shareholders on June 20 to pay dividends for the second term of 2011 in cash at a ratio of 10 per cent and by shares at a ratio of 20 per cent on July 6.

Tay Ninh Cable Car Tour Company (TCT) delayed the time to pay dividends for the year 2011 in cash at a ratio of 40 per cent from June 12 to August 1.

Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII) planned to issue 37.6 million bonus shares funded from undistributed profits to reward its current shareholders at a ratio of 2:1.

Transforwarding Warehouse Corporation of Ho Chi Minh City (TMS) announced that it cancelled the issue of 4 million shares and replaced it by a plan to issue a maximum of 1 million convertible bonds which are due in two years with an interest rate of 15 per cent per annum to its current shareholders with a total value of VND100 billion. The company also approved a solution to convert for the second time the amount of convertible bonds issued in April 2010 at VND17,312 per share.

Hanoi Stock Exchange (HNX) will put VND6 trillion of government bonds out to tender on June 13, of which VND2 trillion will mature in five years, another VND2 trillion in three years, and the rest in two years. Earlier, HNX invited bids for VND5 trillion bonds issued by Vietnam Bank for Development with an interest of 9.5 per cent for three-year term, and 9.68 per cent for five-year term.

Source: Dau Tu Tai Chinh – Translated by Thuy Doan

Other news