Business News in Brief

Hanoi Stock Exchange announced that it has received files for initial public offering of 21.6 million shares of PV Coating and 3 million shares of Thanh Hoa-Song Da Joint Stock Company.

Sacom Development & Investment Corporation (SAM) announced that Mrs. Tran Thi Kim Anh, wife of Do Van Trac, vice chairman cum CEO of the company, registered to buy 1.5 million shares of SAM from October 2 to 31 to increase her ownership to 1.52 million shares, or 1.2 percent stake. Currently, Mr. Trac holds more than 4 million shares of SAM, or 3.07 percent of charter capital.

Vietnam Fumigation Joint Stock Company (VFG) announced that it will sue Fococev for not admitting a contribution of VND179.5 billion of VFG to Hai Yen Company to carry out the Novotel Nha Trang Hotel project which is in operation and profited VND25 billion. Hai Yen Company was a joint venture company between VFG and Centrimex but Centrimex now has merged into Fococev.

PetroVietnam Fertilizer & Chemicals Corporation (DPM) announced that it has received all its contributed capital of VND1 billion, or 10 percent stake, in Petroleum Sports and Culture Corporation. In the first six months of this year, DPM saw post-tax profit of VND1.6 trillion, a drop of 17 percent compared to the same period last year, accounting for 83.6 percent of this year’s plan.

Song Da Transportation Construction JSC (SKS) and Song Da No 2 JSC (SD2) plan to hold an extraordinary general meeting in November this year to discuss on the merger of SKS into SD2. In the first half of this year, SKS got post-tax profit of VND4.5 billion, up 93.12 percent year-on-year, whereas SD2 posted post-tax profit of more than VND6 billion, down 7 percent.

Vietnam Container Shipping Joint Stock Corporation (VSC) has registered to buy 1.1 million shares of Da Nang Logistics JSC (DNL) at a price of VND11,000 per share to own 37 percent stake in DNL. Cash balance and equivalent of VSC by June 30 was VND233 billion.

Vicostone Joint Stock Company (VCS) decided to divest all of 2.2 million shares at Vico Investment and Mineral Joint Stock Company at a price not less than VND5,248 per share, and transfer all 9 million shares of Tan Phuoc Real Estate JSC to two individuals and an institution at a price of VND10,000 per share. VCS currently owns 45 percent stake in Tan Phuoc Real Estate JSC.

Source: Dau Tu Tai Chinh – Translated by Thuy Doan

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