My Chau Printing and Packing posts over 226.858b dong in total assets

Saturday, April 26, 2008
My Chau Printing and Packing Joint Stock Co last year posted over 226.858 billion dong in total assets while its total revenue attained about 166.017 billion dong.
The producer also earned 22.2 billion dong in combined profit, 981.008 million dong from financial activities, 253.117 million dong in other profits, total pre-tax profit of nearly 11.845 billion dong, after-tax profit of 10.479 billion dong and EPS of 3,493 dong.
Its cost for financial activities was 2.118 billion dong, for sales at about 3.520 billion dong, for corporate administration was 5.912 billion dong and other costs were 176.258 million dong.

Kinh Bac Co to scale up chartered capital to 2tr dong

Saturday, April 26, 2008
Listed firm Kinh Bac Urban Development Joint Stock Company (coded KBC) recently announced it would pay a 2007 dividend of 43% in shares.

Last year, KBC earned 320 billion dong from after tax profit, equalling to 683% of the year's plan and its total asset reached 3.013 trillion dong, up 333% yoy.

This year, the company plans to offer more shares to hike its chartered capital to two trillion dong, bring 1.189 trillion dong in revenue and 611 billion dong from after tax profit and pay dividend of minimum 30%.

At present, KBC is carrying out its investment project spending US$100 million to expand Bac Ninh province's Que Vo industrial complex to a total expected area of over 600 hectares, a US$200 million Yen Phong industrial zone project in the first phase in Bac Ninh and the Phuc Ninh urban zone project capitalised at US$200 million.

This year, the company and Taiwan-based Foxcon Group will jointly carry out the Trang Cat high-tech and new urban zone project in the northern province of Hai Phong along with other projects. (DTCK)

Thanh Binh Joint Stock Co reports 2007 performance

Saturday, April 26, 2008
Thanh Binh Joint Stock Co recently reported that in the last fiscal year, it gained about 161.097 billion dong in total assets, 160.278 billion dong in revenue from sales and service provision, 22.568 billion dong in combined profit from sales and service provision.
In addition, it also reached nearly 14.445 billion dong in net profit from business, 167.219 million dong from other profits, 12.825 billion dong in after-tax profit, and EPS of 2,191 dong.
The company spent 3.983 billion dong on financial cost, 1.551 billion dong on sale cost and 2.746 billion dong on corporate administration cost.

Thanh Cong garment and textile firm to issue 500b dong of convertible bonds

Saturday, April 26, 2008
Thanh Cong Garment and Textile Joint Stock Co (coded TMC) recently announced its plan to issue five million convertible bonds at the face value of 100,000 dong aiming to meet the demand of business activities development and scale up chartered capital over next years.
These bonds have yearly coupon rate of 12% and can be converted into shares for three-years. The detailed convertibility measure will be passed in the shareholders' meeting that will be held on April 26 under the consultancy of Au Lac Securities Joint Stock Co.

OCB to hike chartered capital to 1.7tr dong

Saturday, April 26, 2008
Orient Commercial Joint Stock Bank (OCB)'s shareholders' meeting recently passed the plan to hike its chartered capital from the current over 1.111 trillion dong to about 1.7 trillion dong through issuing more shares.

Particularly, the bank will issue bonus shares to existing shareholders at the ratio of equalling to 33% of their total holding. Then, another 2.5 million shares will be sold to the bank's employees. Finally, 20 million shares will be offered the strategic partner BNP Paribas, bringing the foreign investor's size in the local lender to 15%.

In addition, OCB will also offer a share volume to selected external shareholders.

Bac Lieu fisheries processor goes public

Saturday, April 26, 2008
The Hanoi Securities Trading Center (HaSTC) on April 22 approved in principle Bac Lieu Fisheries Joint Stock Co (coded BLF) to list shares on the northern bourse.

BLF officially changed into the model of joint stock company from July 20, 2006 specialising in seafood and aquatic production, processing, export and import.

In 2007, the processor reached 262.8 billion dong in revenue and 11.2 billion dong from after tax profit. In October 2007, the company finished new frozen sushi production line to export to Japanese and European markets. At present, the company earns monthly over US$300,000 from seafood export turnover

This year, BLF plans to hike its chartered capital to 80 billion dong through adding equitisation surplus capital to chartered capital and offering more shares to the strategic shareholders.

The capital being mobilised from the share issue will be invested in future projects, which were signed with Japan and Korea partners.

The company also plans to build a new plant in HCM City and Bac Lieu in the forthcoming time. (DTCK)

Greenlight for foreign audit firms

Saturday, April 26, 2008
The State Securities Commission (SSC) has announced that four foreign auditing firms have been allowed to audit securities issuers, listed companies and securities business firms.

The firms are Ernst & Young Viet Nam, Grant Thompton Viet Nam , Price- waterhouse Coopers Viet Nam and KPMG.

The companies are among 28 autiditing firms qualified to do the job.

Ministry of Finance’s Decision No 89 issued last October requires a qualified company to have a charter capital or ownership capital of at least 2 billion VND (125,000 USD) for domestic firms; and a charter capital of 300,000 USD or more for foreign invested firms.

A company must have at least seven auditors: and must have been in operation for at least three years, the decision states.

The SSC considers and gives permission to qualified firms just once a year.

Companies that carry out auditing must submit documents to the commission from October 1 to October 30 annually. The commission announces the results usually by November 15.

Vu Thi Kim Lien, SSC vice chairwoman , said the commission waited to announce the list because at the end of last year and the beginning of this year it was considering supplying new companies with new criteria. (VNA)

SBV provides support to ensure commercial banks’ liquidity

Saturday, April 26, 2008
The State Bank of Viet Nam (SBV) has sent a document to commercial banks, affirming that SBV will strengthen the refunding of capital, in the form of guaranteed loans, to commercial banks to ensure their payment capacity, especially small-scale ones.

Together with the refunding capital, the SBV will also continue its capital support through daily open market operations.

The consideration and decision to grant capital refunding will be made quickly, based on the proposals of commercial banks, the real capital supply-demand situation and the objectives of the current monetary policies.

With this move from the SBV, the banking market in the coming time is expected to be less tense in capital supply an demand, thus lessening elements that boost interest rates to increase.

Earlier, members of the Viet Nam Banking Association have also reached a consensus on continuing to maintain the maximum interest rates for deposits in Vietnamese dong at 11% a year.

Bao Viet Securities broker to hike chartered capital

Saturday, April 26, 2008
Bao Viet Securities Company (BVS) recently approved this year's business plan with the total revenue of 314 billion dong, 142.3 billion dong from after tax profit and pay dividend of 20%.

The company also plans to hike its chartered capital to one trillion dong from the current of 450 billion dong via offering more shares within this year or by the end of next year and sell about 10% stake to foreign shareholders after capital increase.

During the first quarter of this year, BVS made a revenue of 59.17 billion dong and 27.8 billion dong from pre tax profit. The broker added 30 million more shares to securities depository centre from April 23. These are shares being offered to the existing shareholders under the model of buying right at the ratio of two new shares for one share held and the offering price of 323,000 dong per share.

Last year, the company gained 399.9 billion dong in total revenue and 214.5 billion dong from after tax profit and planed to pay dividend of 20%.

Investment firm No 577 to offer 5.6m shares

Saturday, April 26, 2008
Investment Joint Stock Co No 577 (coded NBB)'s shareholders' meeting recently passed the plan to offer 5.6 million more shares within this year to hike its chartered capital from the current of 154 billion dong to 210 billion dong and raise capital for its big projects including high rise apartment buildings of NBB Garden 1, NBB Garden 3, Peony Garden in HCM City and eco-urban area in the northern city of Ha Long.

This year, NBB targets to bring 344.47 billion dong in revenue, of which 298.94 billion dong from real estate field, and 65 billion dong from after tax profit and pay a 14% dividend.

Last year, the company reached 215.03 billion dong in total revenue, up 168% against the year's target, of which revenue from real estate gained 132.3 billion dong, 40.66 billion dong from pre tax profit, 29.27 billion dong from after tax profit and planed to pay a 12% dividend.