Sunday, June 24, 2018 9:49:10 PM - Markets open
VN-INDEX 983.17 +13.77/+1.42%
HNX-INDEX 111.98 +1.82/+1.65%
UPCOM-INDEX 51.81 +0.02/+0.03%
VGC: Viglacera plans to reduce State ownership to 36% - 4/12/2018 3:45:35 PM
 (0 ratings. You must sign in to rate.)
State-owned glass and construction ceramic producer Viglacera will develop plans to reduce the State ownership in the firm to 36 per cent in May 2018.
The Government is expected to sell its remaining shares in Viglacera in 2019.
The State ownership ratio in Viglacera is now nearly 54 per cent and the Ministry of Construction is representing the Government to manage the State capital in the company.
The State’s shares will be sold via competitive bids, and the auction price will be the average of the prices recorded in the last 30 trading sessions prior to the bidding date.
Deputy general director Nguyễn Anh Tuấn said Viglacera had earned VNĐ1.63 trillion (US$72.7 million) in revenue and VNĐ144.3 billion in pre-tax profit in the first quarter of 2018.
The figures posted huge losses compared to the same period in 2017, Tuấn said at a brief meeting on Monday.
Viglacera targets VNĐ9.1 trillion in total revenue this year, down 1 per cent year on year, and VNĐ950 billion in pre-tax profit, up 4 per cent year on year.
According to the company’s management board, the market has become tougher in 2018, and the company has already predicted the difficulties it may encounter this year.
Sales of construction glass was good last year but became neutralised in 2018, while sales of ceramics had been affected negatively since the end of 2017 due to growing market supply.
As Viglacera holds a minor market share for these segments (some 5-6 per cent), they will continue to be the hardest for the company this year, the management board said.
The company will invest VNĐ2 trillion in new projects, a yearly increase of 28 per cent, including VNĐ758 billion on housing development and trading, VNĐ617 billion on industrial zone’s infrastructure and services, VNĐ529 billion on construction material production and VNĐ86 billion on research and development and human resources training. — VNS
Read original article here
Newer News
23/06 CCM cancels listing on HNX
23/06 VGC: Ministry to sell 18% stake in Viglacera
19/06 KEB Hana Bank BIDV’s potential strategic investor: VCSC
19/06 BCG: Bamboo Capital to focus on core business activities
18/06 TCB: Techcombank to increase charter capital to 1.53 billion USD
15/06 NLG: Nam Long Corporation offers five million shares for foreign investors
15/06 BSR first shareholders’ meeting
13/06 VIC: Vingroup announces plan to produce smartphones
07/06 VHM: Berjaya Land sells finance centre to Vinhomes
06/06 HNR: 120-year-old liquor company to debut shares
Older News
12/04 HVN: Ministry to auction Vietnam Airlines’ share purchase rights
12/04 Vissan targets 18 per cent pre-tax revenue increase
10/04 SBT to buy back 83.5 million shares
10/04 Vingroup enters pharmaceutical industry
10/04 HPG: Hoa Phat exports wire drawing steel to Laos, RoK
07/04 Vietinbank and PG Bank deal collapses
07/04 Sabeco asked to hold shareholders’ meeting on personnel matters
06/04 TPBank heads to HSX at VND32,000 initial price
05/04 HVG: Seafood firm Hùng Vương to sell assets to offset losses
04/04 Sabeco meeting to add ThaiBev to board
Newsletter Signup
Top Stories
VN manufacturing PMI hits 22-month high in March
CPI goes up 4.96 percent year-on-year in first quarter
Slight rise in February CPI
Draft decree on State monopoly in trade submitted to Government
CPI ups 0.46% in January
Market Update
Last updated at 3:12:04 PM
VN-INDEX 983.17 +13.77/+1.42%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.