Business News in Brief

Hanoi Stock Exchange has put Bac Lieu Fisheries Joint Stock Company (BLF) under supervision and allowed it to trade only on Friday as the company continuously violated information closure regulations while being under warning status. In the first half of this year, BLF posted net profit of VND5 billion, achieving 83 percent of this year’s plan.

Vingroup Joint Stock Company (VIC) announced that it listed US$200 million international bonds on Singapore Exchange. In the first nine months, VIC got revenue of VND11.6 trillion, up 129 percent year-on-year, achieving 95 percent of this year’s plan, and pre-tax profit of VND8.33 trillion, up 298 percent year-on-year, achieving 83 percent of this year’s plan.

Sai Gon Water Infrastructure Corporation (SII) announced that Ho Chi Minh City Infrastructure Investment JSC (CII) will offer to purchase publicly 5.04 million shares of SII within 1-2 months at a price of VND16,400 per share. If successful, CII will hold 25.8 million shares of SII, or 64.52 percent stake. Recently, CII bought 5.4 million shares of SII to prevent stock dilution.

Thu Duc Housing Development Corporation (TDH) approved issue of 420 four-year-term bonds in November with face value of VND1 billion and floating interest rate which will be adjusted every six months, equal to the VND savings deferred-interest rate with the term of 13 months announced by the Orient Commercial Joint Stock Bank at the time of interest payment and plus 2.875 percent per annum. In the first nine months, TDH lost VND12.1 billion while it profited VND4.5 billion in the same period last year.

Ha Noi - Hai Duong Beer JSC (HAD) will close the list of shareholders on November 26 to advance dividends in cash at a ratio of 10 percent on December 13. This year, HAD set revenue target at VND337 billion, net profit at VND20 billion, and dividend payout ratio at above 20 percent. In the first three quarters of 2013, the company’s revenue reached VND167.6 billion, and its profit touched VND24.6 billion, down nearly 10 percent year-on-year.

Khang Dien Investment & Trading House JSC (KDH) released financial statement for third quarter of 2013 with net revenue at VND28.2 billion and net loss at VND91 billion as its financial expenses rose to VND110.7 billion, of which interest accounted for VND24.4 billion. In the first nine months, KDH lost VND139 billion while it saw profit of VND740 million in the same period last year.

PetroVietnam Gas Corporation (GAS) released financial statement for third quarter of 2013 with net revenue exceeding VND17.96 trillion and net profit touching VND2.99 trillion, up 20 percent quarter-on-quarter. In the first nine months, GAS posted revenue at VND48.93 trillion, and net profit at VND10.45 trillion, exceeding 32.5 percent of this year’s plan.

Source: Dau Tu Tai Chinh – Translated by Thuy Doan

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