Kinh Bac plans to raise 106 million USD

Tuesday, April 29, 2008
The listed firm Kinh Bac Urban Development Joint Stock Co is planning to offer more shares this year to hike its charter capital to 1.7 trillion VND (106 million USD).
Chairman Dang Thanh Tam made the announcement at a recent Kinh Bac shareholder meeting, saying the company was aiming to make over 1.18 trillion VND (74 million USD) in revenue and 611 trillion VND (38.2 million USD) in after tax profit, and pay a dividend of at least 30% in 2008. He also announced that the company would pay a 2007 dividend of 43% in shares.
“A growth rate based on a firm foundation will help the company have enough financial capacity to be ready for large projects in the future,” the chairman noted.Current projects the company is working on include a 100 million USD plan to expand Bac Ninh province’s Que Vo industrial complex to over 600ha, a 200 million USD Yen Phong industrial zone project in the first phase in Bac Ninh and the Phuc Ninh urban zone project coming in at 200 million USD.
This year, the company will joint hands with Taiwanese Foxconn Group to develop the Trang Cat high-tech and new urban area complex in the northern port city of Hai Phong , along with other projects.
Kinh Bac, an affiliate of Saigon Invest Group, specialises in real estate development, trade, financial services, infrastructure construction, investment consulting, power generation and mining. (VNA)

Vinaconex to sell stakes in cement plants to foreign investors

Tuesday, April 29, 2008
Viet Nam Construction and Import-Export Corp., a state-owned construction company, plans to sell an additional 20% stake in two cement plants to overseas investors to help fund expansion.
The company will sell the stake “to foreign strategic partners who commit to retaining the stake for at least three years and support us in terms of technology, finance, personnel and market expansion,” Phan Vu Anh, a spokesman for Vinaconex, as the company is known, said by telephone from Hanoi Monday.
Vinaconex spent VND4.7 trillion (US$294 million) to build the plants in Quang Ninh and Ba Ria-Vung Tau provinces, according to a statement on the Hanoi-based company's website.
The plants had a combined capacity of 2.3 million metric tons a year, Anh said.
International investors already owned about 10% of the plants, he said, declining to name them.
”The corporation has many big projects using cement from theplants, and producing cement is still profit-making,'' he said.
The production capacity in Viet Nam could exceed demand in five years, he said.
Vinaconex plans to list its shares on the Hanoi Securities Trading Center this year, according to its website. (Bloomberg)

April 29, VN Index surges, HaSTC Index slumps

Tuesday, April 29, 2008
Ending the last trading session of April, the 1776th trading session of the Vietnamese stock market, the Ho Chi Minh City Stock Exchange (HOSE) kept its increasing impetus on the stock market as the VN Index rose 2.94 points or 0.56% to 522.36 pts with the total matching order trade of over 9.5 million shares and fund certificates worth over 403 billion dong, marking the second consecutively increasing session on the stock market.
Among 154 shares and fund certificates being listed on the southern bourse, the stock market saw 65 shares increasing while 18 others stood still at the reference price, 71 shares decreasing. Of which, some 50 share codes reached the ceiling price and 60 others fell to floor price.
Particularly, STB lost 600 dong to 33,500 dong, SSI slipped 1,000 to 49,000 dong, FPT down 1,500 to 81,000 dong per share.
Others reached the ceiling price including VNM, VPL and PVD up 2,000 dong to 134,000 dong, 117,000 dong and 117,000 dong, DPM, HPG and ITA up 1,000 dong, VIC leaped 1,500 dong and PPC jumped 700 dong per share.
STB reached the biggest trading volume with 1,769,600 shares, DPM with 1,279,060, PRUBF1 with 431,120, PPC with 380,420 and others like VSH, FPT, SSI and HPG.
Foreign investors bought 79 shares with the total volume of 2,669,180 shares. DPM kept the first place with 658,350 shares, PPC with 299,080. VSH with 226,710, PVD with 141,270 and VIC with 136,850 shares.
Conversely, the Hanoi Securities Trading Center (HaSTC) today April 29 slumped on the stock market as the HaSTC Index dropped 2.00 points or 1.17% to end at 169.11 pts with the total market trade of 3,255,900 shares worth nearly 113 billion dong.
Amongst 135 listed shares on the northern bourse, the stock market saw 59 shares increasing while 65 others decreasing, four shares stood still and seven shares with no trades.
Four shares stood still including DSC, SIC, SJM and XMC.
Seven shares with no trade were CTB, HSC, HUT, KMF, LBE, NPS and VE9.
MIC was the biggest gainer when adding 2,700 dong and followed by SCJ up 1,800 dong and VTS leaped 1,000 dong. Others increased below 1,000 dong per share.
S99 and SD2 showed the strongest decrease when losing 1,600 dong and followed by SD7 lost 1,500 dong, HLY and SDA down 1,300, BVS slipped 1,200 and L62, PSC, PVC and SNG dropped 1,000 dong per share.
DBC took the pole place in trading volume with 327,400 shares, followed by KLS with 204,200 shares, HNM with 185,600 and ACB with 158,700 shares being traded.