Business News in Brief

Binh Duong Trade and Development JSC (TDC) announced its business plan for 2014 with revenue target at more than VND2.35 trillion, post-tax profit at VND157.9 billion, and minimum dividend payout ratio at 13 percent. Last year, the company’s revenue was estimated at nearly VND1.99 trillion with net profit at VND154.1 billion, and dividend payout ratio at 13 percent. The company is working on the plan to issue VND500 billion worth of bonds to restructure its finance.

TMT Automobile Joint Stock Company (TMT) announced that Bui Van Huu, chairman, registered to buy 1.5 million shares from January 13 to February 11 to increase his ownership ratio to 23.6 percent. Mr. Huu currently holds 18.37 percent stake, or 5.2 million shares. The company’s biggest shareholder is Vietnam Motors Industry Corporation which owns more than 6 million shares of TMT, or 22 percent stake.

Hanoi Investment General Corporation (SHN) will close the list of shareholders on January 17 to seek its shareholders’ opinions on approval to sell more shares to strategic partners to increase capital by VND200 billion for its business and ongoing projects. SHN has approved to buy 544,000 shares, or 40 percent stake, of ATK Group JSC at VND65,000 per share to receive 40 percent of right to take part in a trade center project of ATK.

Hanoi Stock Exchange has recently agreed initial listing of 10.49 million shares of Ninh Binh Phosphate Fertilizer Joint Stock Company (NFC). NFC, formerly Ninh Binh Phosphate Fertilizer Factory, was founded in 1997 and equitized on January 1, 2005. The company now is a member of Vietnam National Chemical Group with a charter capital of VND104.9 billion.

Ho Chi Minh City Stock Exchange has put Huu Lien Asia Corporation (HLA) under warning status due to business loss. According to its audited consolidated financial statement for the fiscal year which ends on September 30, 2013, the company’s post-tax profit was minus VND235.7 billion and its undistributed post-tax profit was minus VND236.8 billion.

The State Securities Commission of Vietnam fined Le Dinh Chanh, son of Le Dinh Vien, member of the Board of Directors of Hoang Quan Consulting - Trading - Service Real Estate Corporation (HQC), VND30 million for reporting late the transaction of 54,000 shares of HQC; Nguyen Thi Thu VND40 million for reporting late the purchase of 181,640 shares and the sale of 50,000 shares of Hoa Binh Rubber JSC (HRC).

Source: Dau Tu Tai Chinh – Translated by Thuy Doan

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