Business News in Brief

Saigon Binh Tay Beer Joint Stock Company set target production at 159 million liters, pre-tax profit at VND236.6 billion, and dividend payout ratio at 25 percent at its recent annual meeting of shareholders. In 2012, the company produced more than 171 million liters of beer, achieved pre-tax profit of VND311 billion, and paid dividends at a ratio of 25 percent.

Hanoi Stock Exchange has recently put Saigon Thuong Tin Real Estate JSC (SCR) and Dalat Real Estate Joint Stock Company (DLR) on list of stocks ineligible for margin trading as these two companies suffered losses in the first six months of this year. According to their half-yearly financial statements, SCR lost VND9.4 billion, and DLR lost VND5.3 billion. Earlier, Vietnam Investment-Production and Trading JSC (CTV) was also made ineligible for margin trading because of the same reason.

Duc Long Gia Lai Group Joint Stock Company (DLG) announced that it will close the list of creditors on September 10 to swap debentures into stocks at a ratio of 1:10 on September 26. Registration is from September 11 to 24. According to its first-six-month financial statement, the company reached revenue of VND300 billion, and post-tax profit of nearly VND3 billion.

Southern Seed Corporation (SSC) announced that it will close list of shareholders on September 17 to pay dividends for the second term of 2012 in cash at a ratio of 10 percent on October 7. With 14.97 million shares floating, SSC will need VND14.97 billion in cash to pay for this term. Dividends for the first term of 2012 were also paid at a ratio of 10 percent.

Construction & Materials Trading Joint Stock Company (CNT) explained that it did not make provision for an overdue debt of VND107.2 billion as debtors have been its partners for a long time in real estate sector. These debts have been fully collated and confirmed as of June 30 and the debtors already have plans to pay their debts in the near future. In the first half of this year, CNT got revenue of VND909.1 billion, and a loss of VND37.1 billion. Thus, if the company made provision for the aforesaid debt, it would suffer a loss of VND144.2 billion.

Source: Dau Tu Tai Chinh – Translated by Thuy Doan

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