A worker produces ceramic bricks at Cotto brick production line, Viglacera Ha Long Joint Stock Company. — Photo baodautu.vn The Viet Nam Glass and Ceramics for Construction Corporation (Viglacera) recorded a pre-tax profit of nearly VND1.02 trillion (US$44.83 million) in 2017. This number is equal to 112 per cent of the year’s plan and an increase of VND144 billion, as compared to 2016’s results. This is the first time the corporation achieved a pre-tax profit of over VND1 trillion. The company’s revenue in the year totalled nearly VND16.5 trillion, up 2 per cent against the yearly plan, and 13 per cent higher than the previous year’s figure. Viglacera’s strong performance was buoyed by significant contributions of its members such as Viglacera Float Glass Company, Viglacera Ha Long Joint Stock Company, Viglacera Infrastructure Development and Investment Company, and Viglacera Real Estate Company. In 2017, Viglacera implemented a restructuring plan of the corporation and put up 120 million shares coded VGC for sale, increasing its chartered capital to VND4.27 trillion. By the end of 2017, Viglacera completed the Employee Stock Ownership Plan (ESOP) programme, raising its chartered capital to more than VND4.48 trillion and reducing State ownership to 53.97 per cent. In 2018, the company is eyeing a 6 per cent growth in pre-tax profit and it plans to make a 9.5 per cent dividend payout. — VNS
Asia Commercial Bank, Vietnam&rsquos biggest listed bank by assets, said on its website that it posted a gross profit of VND1 trillion (US$60.6 million) in the first half this year, but giving no comparative figure. ACB&rsquos robust profit is attributed mainly to gold transactions fees and loans lent to inter-bank market, Ly Xuan Hai, CEO of ACB. The Ho Chi Minh City-based bank recently received approval from the State Bank of Vietnam to raise its registered capital to VND5.8 trillion from VND2.6 trillion. In the first six months this year, ACB reported its total assets of VND102.639 trillion, total deposit of VND90.345 trillion,…... [read more]
Competitive power market revenue hits VND50 trillionNgoc Lan By Ngoc Lan - The Saigon Times Daily HANOI – Vietnam Electricity Group (EVN) said it had paid more than VND50 trillion to buy about 50 billion kWh of electricity on the competitive power market between July 2012 and June 2013, which is just over one-third of the total power output. In its report, EVN said about 37% of the total output of local electricity plants is now purchased via the competitive tenders. In the one-year operation of the competitive market, the total power supply of participating hydropower plants was some 6.8…... [read more]
Petrolimex invests VND1 trillion to maintain market leadNgoc Lan HANOI – The Vietnam National Petroleum Group (Petrolimex), the country’s biggest fuel trader, has plans to invest VND1 trillion (US$44 million) next year to retain its market lead next year amid imminent market changes. Deputy general director of Petrolimex Nguyen Quang Dung told the Daily on December 19 that the group will acquire more than 70 fuel stations near large projects or along busy roads. This is part of Petrolimex’s plan to keep its leading position on the fuel retail market. Following the Government’s decision to replace RON 92 gasoline with…... [read more]
Habubank raises capital by VND1 trillionBy Hong Phuc - The Saigon Times DailyHCMC – Hanoi Building Commercial Bank (Habubank) has finished raising its chartered capital to VND4.05 trillion from VND3 trillion and the official business registration with the new capital at the Hanoi’s Department of Investment and Planning.The bank said that the chartered capital was increased by successfully converting 10.5 million convertible bonds issued last year into 105 million common stocks with the face value of VND10,000 per share, equivalent to VND1.05 trillion at the end of August.It is necessary for Habubank to raise its chartered capital so the bank…... [read more]
Long Thanh Airport compensation to hit VND10 trillion Da Ban By Da Ban - The Saigon Times Daily HCMC – Some VND10 trillion will be needed for compensation and resettlement of households forced to relocate to serve the development of Long Thanh International Airport, said Ngo The An, vice chairman of Dong Nai Province’s Long Thanh District. The government of Dong Nai last week had a meeting with the provincial departments and Airports Corporation of Vietnam, investor in Long Thanh Airport, to discuss issues regarding this project, he said. At the meeting, Dong Nai Vice Chairman Tran Van Vinh asked…... [read more]
