Business News in Brief

According to Vietnam Securities Depository (VSD), 46 foreign investors were granted trading codes in September, of which 23 were institutional investors, and 23 were individual investors. Thus, VSD has issued trading codes for 16,553 foreign investors with 2,187 institutional investors, and 14,366 individual investors.

The State Securities Commission of Vietnam (SSC) has fined VIT Securities Corporation (VITS) VND50 million for announcing late audited financial statement for 2012, financial statement for first quarter of 2013, and annual report for 2012. Since the beginning of this year, SSC fined 23 individuals and 49 institutions with total penalties of more than VND5.2 billion.
Hanoi Stock Exchange (HNX) announced that it will cancel listing of more than 2.6 million shares of Dien Hong Printing Joint Stock Company (DHI) from October 25 as the company dissolves. DHI lost 4.2 billion in 2011, and 2.7 billion in 2012.

Gia Lai Sugar-Thermal Power Joint Stock Company (SEC) announced that Gia Lai Electricity JSC (GLEC) registered to sell all 5 million shares of SEC from October 4 to November 1. CEO of GLEC is currently a member of the board of directors of SEC and holds 50,000 shares of SEC.

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, funded by the undistributed post-tax profit to pay dividends for the year 2012 at a ratio of 15 percent. After the issuance, JVC will have a charter capital of VND568.1 billion.

PetroVietnam Southern Gas Joint Stock Company (PGS) agreed to buy back shares of PV Cylinder – a subsidiary of PetroVietnam Gas Corporation (GAS) – from GAS and other shareholders.

Son Ha International Corporation (SHI) has decided to sell 1.68 million shares of Son Ha Sai Gon Joint Stock Company (SHA) at market price to decrease its ownership ratio to 30 percent. SHA has a charter capital of VND80 billion, of which SHI owns 51 percent stake, or VND40.8 billion.

Seaprodex Refrigeration Industry Corporation (SRF) announced that it will close the list of shareholders on October 18 to issue 8.1 million shares, funded from share surplus by June 30, at a ratio of 1:1, at a price of VND10,000 per share. If successful, SRF will raise its charter capital to VND162.5 billion.

Industrial Urban Development JSC No.2 (D2D) has inaugurated Long Thanh Market of the city market area and Quan Thu market project in Dong Nai Province. The project has a total investment of VND400 billion and covers an area of 14 hectares, and comprises 644 kiosks, 426 market stalls, 150 business spots, 85 houses with market front, and more than 300 town houses.

Song Da 505 Joint Stock Company (S55) announced that it will close the list of shareholders on October 11 to hold an extraordinary general meeting to discuss on the purchase of 10 percent of treasury shares. In the first half of this year, S55 saw net profit of VND8.6 billion, down 9.5 percent year-on-year, but achieving more than 50 percent of this year’s plan.

Source: Dau Tu Tai Chinh – Translated by Thuy Doan

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