Business News in Brief

Thac Ba Hydropower Joint Stock Company (TBC) announced that EVN Finance registered to sell 3.9 million shares of TBC, accounting for 6.22 percent stake of TBC, from July 8 to August 6 to divest. Earlier, EVN Finance successfully sold 204,000 shares of TBC.

House Vietnam Joint Stock Company (NVN) will cancel listing of its 10.6 million shares on Ho Chi Minh City Stock Exchange to list on UPCoM. In 2012, the company suffered a loss of VND51.8 billion. This year, it targets net revenue of VND156.5 billion, and post-tax of VND450 million. The company cancelled ecological resort project in Bao Lam due to difficulties in mobilizing capital.

Pha Lai Thermal Power Joint Stock Company (PPC) announced that PetroVietnam Finance registered to sell 5 million shares of PPC from July 5 to August 3 to reduce ownership ratio to 2.7 million shares, or 2.38 percent stake. In first quarter of this year, PPC reached revenue of more than VND1.77 trillion, and profit of VND944 billion. This year, the company planned to get revenue of VND6.09 trillion and pre-tax profit of VND447.2 billion.

Vinaship Joint Stock Company (VNA) approved business plan for this year with production of 2 million tons, revenue of VND750 billion, loss of VND25 billion, and to sell two old ships. In 2012, VNA got revenue of VND820 billion, and pre-tax loss of VND28.2 billion, sold one ship, cancelled plan to build two 17,500 DWT ships, and extended building schedule for 34,000 DWT ship to the second quarter of 2015.

Hanoi Stock Exchange has recently allowed initial listing of 15 million shares of F.I.T Investment Joint Stock Company (FIT) on the northern bourse. The company, which operates in investment and investment consultancy field, has a total asset of more than VND1.86 trillion by December 31 last year. In 2012, the company saw revenue of VND18.1 billion and post-tax profit of VND8.1 billion. This year, it plans to increase its capital to VND157.7 billion, post-tax profit of VND23.7 billion, and dividend payout ratio of 15 percent.

Global Electrical Technology Corporation (GLT) approved this year’s business plan with revenue of VND189 billion, post-tax profit of VND19.4 billion, and dividend payout ratio of 15 percent in cash. In 2012, the company achieved revenue of VND235 billion, net profit of VND33.7 billion, exceeding 70 percent compared to plan, and estimated dividend payout ratio of 65 percent in cash.

Bien Hoa Packaging Company (SVI) planned to issue 1.78 million shares for its shareholders at a ratio of 5:1 and advance dividends for the first term of this year in cash at a ratio of 10 percent. This year, the company seeks for net revenue of VND852 billion, post-tax profit of VND60 billion, and dividend payout ratio of 20 percent.

Source: Dau Tu Tai Chinh – Translated by Thuy Doan

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