Hanoi Stock Exchange announced cancellation of listing of 15 million shares of Song Da-Thang Long Joint Stock Company (STL) as the company’s accumulated loss of VND173.7 billion by December 31, 2012 exceeded its real chartered capital of VND150 billion. The last trading of STL will be on July 25. The company had to transfer some projects to ensure capital for its major projects with estimated profit at VND135 billion this year.
Saigon Water Infrastructure Real Corporation (SII) will transfer its 26 percent stake in Ninh Thuan Investment and Construction Development, and its 48.2 percent stake in Binh Trieu Road Bridge Construction and Investment Joint Stock Company to Ho Chi Minh City Infrastructure Investment JSC (CII) at a cost of VND57.2 billion and VND47.4 billion respectively. Thus, SII will receive VND104.6 billion. CII currently holds 51 percent stake of SII.
Vietnam National General Export-Import Joint Stock Corporation (TH1) approved business plan for this year with target revenue of more than VND2.01 trillion, profit of VND21 billion, and dividend payout ratio of 12 percent. In 2012, the company revenue was nearly VND2.14 trillion, exceeding 12.4 percent of plan, net profit of VND11 billion, accounting for 32.6 percent of plan, and dividend payout ratio of 6 percent in cash.
Telecommunications Industry Electronics Joint Stock Company (TIE) announced that it is in progress to transfer 20 percent stake in Samsung Vina Electronics Joint Stock Company to Samsung Electronics Co. Ltd. In 2012, TIE reached revenue of VND351 billion, 3.2 percent beyond plan, profit of VND29.7 billion, 19 percent beyond the plan. This year, the company set revenue target at VND370 billion and profit at VND29 billion.
Thac Ba Hydropower Joint Stock Company (TBC) announced that it will close the list of its shareholders on July 10 to pay dividend for the year 2012 in cash at a ratio of 17 percent on July 31. In the first quarter of 2013, TBC saw revenue of VND47.9 billion, and post-tax profit of VND17.2 billion. This year, the company seeks revenue of VND223.8 billion, and post-tax profit of VND74 billion.
Song Da No.11 JSC (SJE) will issue 2.88 million shares to swap with shares of Song Da No.11 Thang Long JSC (SEL) at a ratio of 0.9:1 to merge and turn SEL into a company, 100-percent owned by SJE. After the merger, SJE expects business value to increase by an average rate of 12-15 percent during 2013-2015.
Song Da No 6 JSC (SD6) announced that that it will close the list of its shareholders on July 25 to pay dividend for the year 2012 in cash at a ratio of 15 percent on September 18. In the first quarter of 2013, TBC got net revenue of VND157 billion, and post-tax profit of VND7.7 billion, an increase of 29 percent and 31 percent respectively compared to the same period last year. This year, the company set revenue target of nearly VND1.07 trillion, and pre-tax profit of VND55.1 billion.