Business News in Brief

Vietnam Commercial Joint Stock Export Import Bank (EIB) approved to buy back about 11 million treasury shares within a month from December 18 at a price not higher than VND14,500 per share. Thus, EIB will have to use around VND156.5 billion for this share purchase which is funded from share premium and investment and development fund by June 30, 2013.

Vinacomin - Nui Beo Coal JSC (NBC) announced that Refrigeration Electrical Engineering Corporation (REE) has finished increasing ownership ratio to 23.62 percent after buying 2.2 million shares of NBC. In the first nine months, NBC got net revenue of more than VND1.51 trillion, up 12.6 percent year-on-year, and net profit of VND3.5 billion, down 86.8 percent year-on-year.

Vietnam Petroleum Transport Joint Stock Company (VIP) announced that it will contribute VND33 billion to Petrochemical Transport JSC to increase its ownership ratio. In the first nine months, VIP profited VND126.7 billion, 2.95 times higher compared to the same period last year with cash and equivalents at VND106 billion by September 30, 2013.

Binh Thanh Import - Export Production & Trade JSC (GIL) announced that it finished transfer of an office building for lease at 24C Phan Dang Luu Street in Binh Thanh District of Ho Chi Minh City, bringing in VND146 billion. In the first nine months, GIL posted net profit at VND30.6 billion, down 13.5 percent year-on-year.

Ho Chi Minh City Infrastructure Investment JSC (CII) registered to buy 5.04 million shares of Sai Gon Water Infrastructure Real Corporation (SII) within a month from December 11 at a price of VND16,400 per share, 1.19 million shares of NBB Investment Corporation (NBB) within a month from December 10 to increase its stake in NBB to 10 percent, or 3.57 million shares. CII currently holds 35.58 percent stake in SII.

Source: Dau Tu Tai Chinh – Translated by Thuy Doan

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