Saigon Hanoi Securities broker expands in HCM city

Wednesday, May 7, 2008
The State Securities Commission (SSC) yesterday May 5 issued the Decision No 320/QD-UBCK approving the Saigon Hanoi Securities Joint Stock Co to set up its branch at 41 Pasteur, Nguyen Thai Binh ward Ho Chi Minh City's District 1.
The branch is allowed to carry out securities activities like securities brokerage, securities investment consultancy and securities depository.

Sudico reports performance

Wednesday, May 7, 2008
Song Da Urban & Industrial Zone Development and Investment Co (Sudico) reported that last year it reached 940.201 billion dong in total basic construction investment value, 861.336 billion dong in total business and production value, 722.275 billion dong in total revenue and the profit of 359.278 billion dong. In addition, the firm paid 180.616 billion dong in taxes.

The figures are targeted at over 1.296 trillion dong, 1.401 trillion dong, 1.286 trillion dong, 506.500 billion dong and 574.559 billion dong correspondingly in 2008.

Also Sudico targets to reach a chartered capital of 400 billion dong and a dividend of 15-20% in 2008.

Ha Tien transportation firm to issue additional shares

Wednesday, May 7, 2008
Ha Tien Transportation Joint Stock Co (coded HTV) recently decided to issue additional 10.8 million shares to increase the chartered capital, However the issue schedule will be approved by its shareholders' meeting.
HTV targets to reach a dividend of 10% and a pre-tax profit of 22.12 billion dong in 2008.

PTSC to pay dividend of 15% this year

Wednesday, May 7, 2008
Petroleum Technical & Service Co (PTSC)'s shareholders' meeting recently passed this year's business plan with some 6.5 trillion dong in revenue, 300 billion dong from after tax profit, the rate of profit on chartered capital could be 20%, paying state budget of 165 billion dong and paying dividend of 15%, up 1% against 2007.
Ending the 2007 fiscal year, PTSC posted 5.776 trillion dong in revenue, exceeding 170% in comparison with the year's target of 3.4 trillion dong, 319 billion dong from pre tax profit, exceeding 163% against the year's plan and paid

Vietnam Resource Investments (Holdings) Limited Acquires Shares of Keeper Resources Inc.

Wednesday, May 7, 2008
Viet Nam Resource Investments (Holdings) Limited ("VRI") announced that it has today acquired 10,000 common shares of Keeper Resources Inc. (TSXV: KEE) ("Keeper"). On April 4, 2008, Keeper announced that VRI agreed to make an all cash offer to acquire all of the issued and outstanding common shares of Keeper on a fully diluted basis at a price of $1.50 per share by way of a take-over bid. KR Acquisition Corp. ("KAC"), an indirect wholly-owned subsidiary of VRI, mailed the formal documents in connection with the offer to security holders of Keeper on April 16, 2008.

The highest price paid per share purchased today was C$1.48. The average price paid per share purchased during the course of KAC's acquisition of Keeper to date is C$1.48.

The aggregate number of Keeper shares purchased by VRI, including purchases made today, is 927,100. As a result of today's transaction, VRI now owns a total of 927,100 common shares of Keeper, or 2.87% of the common shares of Keeper.

VRI is an investment fund managed by Dragon Capital Management Limited ("Dragon Capital"). Funds managed by Dragon Capital currently own 6,687,100 shares of Keeper (including today's purchase by VRI), which represents approximately 20.7% of Keeper's issued and outstanding common shares. Dragon Capital is a part of a financial group focused on Viet Nam. The Group's investment management arm is the country's largest dedicated portfolio investor. The group is known both within Viet Nam and international financial circles as one of the premier Vietnam-focused financial institutions.

SaigonTel shareholders approve targets

Tuesday, May 6, 2008
Shareholders at the annual meeting of Sai Gon Telecommunication and Technologies Corporation (SaigonTel) have agreed to finance targets of VND1.6 trillion, after-tax profits of VND352.7 billion and a dividend ratio at 30%.
In addition, Saigontel will continue investment in projects such as the expanded ICT Dai Dong-Hoan Son project, high-rise buildings and a hi-tech zone.

Light fixture maker sees brighter revenues in Q1

Tuesday, May 6, 2008
Rang Dong Light Source and Vacuum Flask Co (RAL) has announced first quarter revenue of VND264 billion, or a year-on-year increase of 2.5%.
This year, because of high input costs and rising interest rates, the company has targeted total revenue of VND935 billion, an increase of 11.18% on last year.
The company will continue investing in production line to make fluorescent and compact lamps worth VND16 billion and another production line to make 19-tonnes of glass tubes a day, valued at VND56 billion.

Cavico Corp. Received Decision to Invest and Construct Hoa Binh Ecological and Cultural Zone

Tuesday, May 6, 2008
Cavico Corp. (Cavico) (OTCBB:CVIC) today announced that Luong Son International Tourism Investment JSC, its wholly own subsidiary, has been authorized by Hoa Binh People’s Committee to invest and construct the Hoa Binh ecological and cultural zone known as “Ecozone.”

This announcement is made in conjunction with the Vietnamese government’s announcement that it has approved a plan to expand the capital city of Hanoi in its effort to create a national center for politics, culture, economy and science, noted the Vietnam Investment Review.

Cavico’s project will be located within the newly announced boundaries of Hanoi. Under the plan, Hanoi will be expanded to the west and will cover all of Ha Tay province, the Me Linh district of Vinh Phuc province, and four communes in Luong Son district of Hoa Binh province. The expansion will triple the geographic size of Hanoi and expand its population to over 6.2 million people.

The plan will be submitted to the National Assembly, the country's top legislature, for final approval at its session to be held this month. "If the plan is approved, the process of merging Hanoi with other areas will start on July 1," said Minister of Home Affairs Tran Van Tuan.

In conjunction with this plan Cavico Corp.’s future construction site will be located in Luong Son village, Hoa Binh province. This site is located along Highway Six, which will be the main artery connection from Hanoi to the northwest provinces. The 1.3 square-mile zone will be constructed over a four year period beginning in 2010, at a total investment cost of $930 million. Net profits are anticipated to be around $150 million. The zone, the first of its kind in the nation, will be divided into nine sub-centers including Cavico Center, a recreational park, entertainment and convention center, Muong Village, Friendship Village, World Village, high-end homes, a restaurant and hotel.

“We intend to build a world-class international tourism zone to meet both domestic demand and to attract national and international vacationers,” stated Hai Thanh Tran, Cavico Vice President. “Also within this zone we would like to preserve the unique Muong culture, which represents 1.5% of Viet Nam’s population. The Cavico Tower, Chieng Ngan Urban, Ngo Sai Urban and the Hoa Binh projects will enable us to significantly expand our real estate holdings in Vietnam and will enlarge our profit potential.”

Foreigners Net Buyers Of VND108 Billion Of Shares

Tuesday, May 6, 2008
Foreign investors were net buyers of VND108 billion ($6.8 million) of Vietnamese stocks Tuesday out of a total VND253 billion traded, the Ho Chi Minh Securities Trading Center said.
Volume was 5 million shares, with foreigners accounting for 50% of the total, the stock market operator said. (Dow Jones)

State Bank raises total annual gold import to 73.5 tonnes

May 6, 2008
The State Bank of Viet Nam has allowed both gold dealerships and banks to import an additional 3.5 tonnes of gold, bringing the total quota this year to 73.5 tonnes.
The Bank for Agricultural and Rural Development and its in-house jewellery company, as well as the Sai Gon- Thuong Tin Joint Stock Commercial Bank, have been allotted one tonne each.
The remaining 500kg units will go to DongA Bank, the SJC Jewellery Co branch in Phu Tho, and the Doji Trade, Investment and Jewellery Co.
The central bank has just approved NamA Bank and the Doji Trade, Investment and Jewellery Co to trade gold on overseas bank accounts.
At the international conference on gold trading held late last month in HCM City, experts urged the Government to scrap the gold import quota and to allow companies and individuals to open conditional accounts overseas which could all in turn be used to purchase gold, boosting supply on the local gold market. (VNS)