Business News in Brief

Vietnam Electricity Construction Corp (VNE) announced that it transferred 27.74 million shares to VNECO Electricity Construction Corp at a cost of VND 6,165 per share, gained more than VND 171 billion in profit. After the transaction, VNE owns 9.88 percent of capital, equivalent to 3.1 million shares.

Lu gia Mechanical Electric Corp (LGC) approved to change its name to Bridge and Road Investment Corp, contributed VND 78 billion to establish Lugia Mechanical Electric Corp and VND 150 billion for Lugia Real Estate and Properties Development and Investment Corp. It issued 7.4 million shares to current shareholders at ratio of 2:1 in the third quarter of 2014.

Tan Cang Logistics and Stevedoring Corp (TCL) announced its second quarter revenue of VND 194 billion, up 17.3 percent compared to the same period last year, gross profit of VND 25.6 billion, and an increase of 26 percent compared to the same period last year. In the first half of 2014, accumulative revenue touched VND 366.3 billion; accumulative net profit touched VND 47.5 billion, up 14 percent and 9 percent respectively compared to the same period last year.

Huu Lien Asia Corp (HLA) announced the financial statement for third quarter of 2013-2014 fiscal year (started from October 1, 2013) with the loss of VND 135 billion, increasing its accumulative loss of the first 9 months to nearly VND 413 billion. Until June 30, 2014, HLA lost totally VND 593.7 billion, short-term debts was VND 355 billion.

Thac Ba Hydropower Corp (TBC) announced its second quarter revenue of VND 57.5 billion, increasing its revenue of the first half this year of VND 81.3 billion, up 20 percent compared to the same period last year and exceeded 14 percent of its profit plan. The main reason is the campaign of offering appropriate electronic price when TBC joined electricity generation market.

Cotec Construction Corp (CTD) has won the contract for “United tourist village, Ho Tay – Hannoi” project worth VND 223 billion. The project is invested by Doan Ket Corp, with covering an area of 18,000 meter square, including 44 opulent villas, 1 convenient service center and many sub-projects. CTD also approved to distribute VND 129.2 billion to FCC Investment Corp (chartered capital of VND 369 billion), holding 35 percent of capital.

Pan Pacific Services Company Limited (PAN) announced its first quarter revenue of VND 22.5 billion, increased more than seven-fold compared to the same period last year. Cash and cash equivalents reached VND 426 billion, a rise of VND 420 billion compared to the beginning of the year. Capital surplus from shares was VND 688 billion. PAN currently holds 54.6 percent of ABT’s capital; 22.9 percent of NSC’s capital, 23 percent of LAF’s capital and other sub-companies.

International Development and Investment Corp (IDI) said that its first half of revenue was VND 60 billion, up 124.3 percent compared to the same period last year. EPS reached VND 1,573 per share. The main reason is that IDI signed a contract of transferring real estate project worth VND 105 billion, gained net profit of VND 25 billion.

Duc Long Gia Lai Group announced to issue 79.51 million shares, aiming to mobilize capital for projects of growing corn and rubber, building traffic infrastructure, exploiting and processing lead and zinc… 69.74 million shares are offered to current shareholders with a ratio of 1:1 and VND 10,000 per share (end date is August 7); dividends payout at a ratio of 4.18 million shares for 2013 and 5.58 million shares rewarding at a ratio of 8 percent.

DTTC – Translated by Mai Quyen

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