HSBC Supports SCIC to Speed up Equitization
Hongkong and Shanghai Banking Corporation (HSBC) and State Capital Investment Corporation (SCIC) have signed the Memorandum of Understanding on the cooperation, consultant and technical support, aiming to speed up the equitization process of state-owned enterprises and the state’s investment management in these enterprises.
More important, HSBC pledged to support enterprises under SCIC in the process of equitization and listing on the stock exchanges.
The bank will be included in the list of consultants underwriting stock issuing in the international trading markets and for the trading of issuing international bonds of Vietnamese companies.
Mr Alain Cany, General Director of HSBC in Viet Nam said, under the cooperation with SCIC, HSBC pledges to support the reforming and restructuring process of state-owned enterprises with its network and global experience in financial markets all over the world.
Saigon Hotel Buying 100,000 Stocks of Hoa Sen University
News from HCMC Securities Trading Center is that the listing organization of the Saigon Hotel Joint-Stock Corporation (SGH) has invested to buy 100,000 stocks of Hoa Sen University, priced at VND13,600 per share, via an auction in mid-December at the BIDV Securities Co. (BSC).
Besides, Saigon Tourist Corporation also made a decision of changing the representative of state-owned shareholders in Saigon Hotel. The number of stocks hold by the state in this company is now 686,300 stocks, accounting for 38.85%
Southern Bank Pays Dividend of 27%
Southern Joint-Stock Commercial Bank has announced that the bank will pay its dividends and the surplus of share capital at the rate of 27% by bonus stocks in the end of 2006.
Until November 30, the registered capital of Southern Bank increased more than US$80 million (VND1,290 billion); the total property reached over US$580 million; the profit before tax US$11.5 billion, exceeding 20% of the plan, and the total mobilized capital of over US$464 million.
Southern Bank has also been certified the quality management system of international standard ISO 9001:2000 by British-based BVQI.