 Business and stock briefs March 10
Intellasia - 3/10/2010 2:56:06 PM
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* The Hochiminh Stock Exchange has approved
Khanh Hoa Power Co (KHP ) to trade 20.7 million additional shares on the
bourse.
* Vinpearlland Tourism Co. (VPL) has announced that it has sold 7.8 mil
lion shares of Vinpearl Hoi An
Tourism Investment Joint Stock Co to reduce its holding to nine million
shares, or a 30% stake in the company.
* There were 19 individual investors registering to buy 151,700 shares
of the printing factory of Thanh Nien Newspaper against the offer of
1.91 million shares on its auction last week. The average winning price
was 11,000 dong each, also the starting price of the auction.
* Phuc Tien Trading and Manufacturing Co (PHT) has got approval from the
State Securities Commission to issue nine million shares, comprising
2.75 million shares to existing shareholders, 5.15 million shares to
strategic investors, and 1.1 million shares for paying dividend.
* VietFund Management Co and its funds between February 5 and March 2
made transactions on Tu Liem Urban Development Co. (NTL) to increase
their ownership from 5.98% to 6.75%. Meanwhile, the group also has
reduced its stake from 5.54% to 5.16% in Sudico (SJS).
* SSI Horizon Fund has sold nearly 60,000 shares of Binh Thanh Import
Export Production and Trade Co. (GIL) to decrease its ownership from
5.22% to 4.61%.
* The 100-billion dong PetrolimexLand Joint Stock Co has got permission
from the State Securities Commission to issue 10 million shares to
existing shareholders.
* Nestle Vietnam has announced to revise down prices of some dairy
products by 4%-5% this year. This is part of the enterprise's long-term
strategy to offer high-quality products at affordable prices for
consumers.
* Bac Lieu Food Co. has purchased 16,000 tonnes of rice for reserve
under the schedule of the Vietnam Southern Food Corp. Unhusked rice
prices in Bac Lieu Province are around 4,000-5,000 dong per kilo.
* Vinamode International Co. has inaugurated a footwear factory in Trang
Due Industrial Park in Hai Phong City with an investment of $3.3
million. The factory is expected to reach $9 million in export value
each year and generate jobs for over 1,000 labourers.
* Quang Dung Co. Ltd has cooperated with Bunge Agribusiness Vietnam to
have farm products transported to Vietnam in a Hong Kong 55,000-DWT
ship. The vessel has called on Phu My Port in Ba Ria - Vung Tau Province
with around 48,000 tonnes of dry soybean cake.
* Hoang Thach Cement Joint Stock Co. has launched a 2.5-trillion dong
production line into operation with capacity of 1.2 million tons per
year. The production line will help raise total output of the factory to
3.5 million tonnes per year.
* Dat Phuc Joint Stock Co. has inaugurated a centre for motorized
vehicle driving tests in Vung Tau City with invested capital of nearly
30 billion dong. The centre is expected to hold driving tests for 260
motorcycle and 160 automobile drivers each day.
* 3M Vietnam Co. Ltd. has opened a new office and a customer service
centre in HCM City's District 7. 3M Vietnam, a subsidiary of the US’s 3M
Group, was established in 1994 to provide services in electrical
equipment distribution, telecommunications, medical and dental products.
* Tien Giang Food Co. has announced to purchase 5,000 hectares of
winter-spring unhusked rice in Tien Giang and An Giang provinces at the
floor price of 4,500 dong per kilo. The paddy area IS expected to turn
out 27,000 tonnes of rice.
* The State Bank of Vietnam has decided to establish a team grouping
representatives from relevant ministries to draft a decree to regulate
gold trading operation.
* The State Bank of Vietnam has asked provincial branches of the central
bank to make reports on promotion programs by banks to attract deposit
and the application of fees in lending before March 9.
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