Business News in Brief

Mai Linh Central JSC (MNC) recently announced dissolution of Mai Linh Coffee Arabica One Member Limited Company due to business ineffectiveness. According to MNC, Arabica has no ongoing contract and will not sign new contract. Signed contracts which have not reached their due dates will still be valid. If there is any unpaid debt, MNC will pay all of them in three years.

NBB Investment Corporation (NBB) announced that it was asking for the Ministry of Natural Resources and Environment permission to exploit titanium in Quang Ngai Province. The project will be carried out by its subsidiary, Quang Ngai Mineral Investment JSC, with capacity of 21,000 tons of crude ore annually. The project costs an estimated total investment of VND124 billion.

Pha Lai Thermal Power Joint Stock Company (PPC) approved buying of 15 million shares of Hai Phong Thermal Power JSC owned by EVN Finance at a price of VND11,500 per share. If the transaction is successful, PPC will have to spend more than VND172 billion. PPC now holds 21.49 percent stake in Hai Phong Thermal Power JSC.

Minh Phu Seafood Corporation (MPC) announced that the US Department of Commerce (DOC) had decided that no anti-dumping duty will be imposed on the company’s frozen warm-water shrimp products which were imported into the US from February 1, 2011 to January 31, 2012. The conclusion was announced on September 10 after DOC had completed its administrative review of the anti-dumping duty order on certain frozen warm-water shrimp from Vietnam for the 7th period of review (POR 7). However, frozen shrimp products of Minh Phu were still imposed anti-subsidy duty of 7.88 percent, announced by DOC on August 14.

Source: Dau Tu Tai Chinh, VNplus – Translated by Thuy Doan

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