Vietnam stock market briefs Jun 24

* Management board of Duc Long Gia Lai Group Joint Stock Co (coded DLG) has approved issuing over 16 million shares to the existing shareholders in Q3. In details, the company would issue additional 16,005,000 shares, equal to over 160 billion dong to the existing shareholders at price of 15,000 dong per share at a ratio of 1:0.55.

* Traphaco Co (TRA) has announced June 28 as the ex-dividend date for shareholders to receive 2009 second round stock dividend at the 5:1 ratio.

* DIC Investment and Trading Co (DIC) has got approval to trade nearly 3.3 million additional shares on the southern bourse.

* Vinaconex-PVC Construction Investment Co has asked for permission to trade 4.5 million shares on the Hanoi Stock Exchange.

* Vung Tau Real Estate and Construction Co has got approval in principle to trade over 10 million shares on the southern bourse.

* Kinh Bac City Development Share Holding Corporation (KBC) has announced June 28 as the ex-dividend date for shareholders to receive bonus shares at the 5:1 ratio and stock dividend at the 10:3 ratio.

* Vietnam Ocean Shipping Co has got approval in principle to trade 140 million shares on the Hochiminh Stock Exchange.

* Prudential Balanced Fund (PRUBFl) has announced its net asset value (NAV) per unit by June 17 was 8,837 dong, increasing by 5 dong from the previous week. Manulife Progressive Fund (MAFPF1) has also announced its NAV per unit by June 17 was 7,019 dong, rising by 87 dong against the week earlier.

* The STC-listed Duc Thanh Wood Processing Joint Stock Co (coded GDT) announced to reach profit after tax in Jan-May of 11.04 billion dong, fulfilling 34.7 percent of the year plan.

* Khanh Dien Housing Investment and Trading Joint Stock Co (coded KDH) announced to gain Q2 profit after tax of 42 billion dong, raising the accumulative profit in the first six months of this year to 74 billion dong.

* VinaPhone has lately announced to lower nearly 50 percent of charges for pre-paid Mobile Broadband package. Meanwhile, MobiFone plans to adjust FastConnect charges in the next few days and Viettel allowed deducting charges from sub-accounts for D-Com subscribers.

* Thang Long Project Management Board, under Ministry of Transport was the main investor of the first flyover project in Hanoi. This is one part of the third ring road system project – the second phase with total investment capital of 5.5 trillion dong, mainly financed by Japan International Cooperation Agency (Jica).

* After seeing a stagnant phase, apartment segment has once again started to witness transactions in this market. According to numerous real estate specialists, while the western land prices have levelled off and prices remain high, this is the time to invest in apartments in order to reduce risk.

* Song Da Urban & Industrial Zone Investment and Development Joint Stock company (SUDICO, coded: SJS) together with its partner which is Mien Trung Power Investment and Development Joint Stock company (coded: SEB) have recently signed the corporation contract for investment in Cactus Cam Ranh Resort & Spa project.

* Viettel will invest approximately $300 million in Haiti market. The corporation is currently completing the very last steps of the survey.

* The Taiwan-based Guang Lian Steel Vietnam Co Ltd plans to adjust the production capacity of the steel mill from five to seven million tonnes per year, and raise the investment capital for this project from $3 billion to $4.5 billion.

* The management group of Dong Tam Joint Stock Co (Dong Tam Group) has set targets of gaining 2010 revenue of 1.56 trillion dong, profit after tax of 200 billion dong and dividend of 12 percent.

* Linh Thanh Group yesterday broke ground for a project producing high-quality nano calcium carbonate powder in Quang Binh Province. The $56 million project covers 88 hectares in Tuyen Hoa District.

* ICC Joint Stock Co has been approved to build a rice husk power plant in An Giang Province. The project is expected to cover 180,000 square metres with a capacity of ten megawatts.

* Dong Nai and Dong Phuoc companies under the Vietnam Rubber Group (VRG) have begun a campaign to plant new rubber trees in Sombo District in Cambodia’s Kratie Province. This is part of the VRG’s plan to grow 100,000 hectares of rubber trees in Cambodia by 2012.

* Viet Hung Urban Development and Investment Joint Stock Co has launched the Rung Co (Palm Forest) condo section, part of the Van Giang Tourism and Commerce Township project, or Ecopark, in Hung Yen Province. The section includes five towers with around 1,500 flats priced from 20 million dong per square metre.

* Vinacomin Reththy, a joint venture between the Vietnam National Coal and Mineral Industries Group, Au Viet Industry Joint Stock Co and Cambodian group Mong Reththy, have broken ground for a $5 million construction material plant in Cambodia’s Sihanoukville Province. The plant will provide 80 million products in the first phase using modern brick-making technology to minimise impacts on the environment.

* Duc Long Gia Lai Group has signed an agreement with the Bank for Investment and Development of Vietnam for a 12 to 13 trillion dong credit for the 2010-2015 period. The enterprise will boost investment in rubber, hydropower, infrastructure and property projects.

* SMC Investment Trading Co (SMC) expects to obtain 50 billion dong in after-tax profit in the first half of this year, equivalent to 62 percent of the 2010 target.

* Can Tho Cement Co (CCM) has established a property company with chartered capital of 20 billion dong.

* HSBC Bank (Vietnam) Ltd officially introduced ClientSphere – its online solution delivery platform for Global Payments and Cash Management (PCM) customers on June 23, 2010

* Vietnam Technological Commercial Joint Stock Co (Techcombank) announced to close the shareholders list on June 25 for issuing 153,176,700 shares in order to increase chartered capital from over 5.4 trillion dong to 6.932 trillion dong. The bank will use standby fund for supplementing chartered capital and undistributed profit.

* Starting from June 23, 2010, Saigon Hanoi Commercial Joint Stock Bank (coded SHB) decided to increase the deposit rates in accumulative savings in US dollars for individual customers. In details, the bank adjusted to raise the interest rates for progressive savings in US dollars in all terms by 0.1-0.2 percent.

* The Military Commercial Joint Stock Bank (MB) has signed a comprehensive cooperation agreement with CMC Technological Group (coded CMG).

Intellasia

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