Saturday, 14 June 2008

Sacombank enters Laos and Cambodia

Friday, June 13, 2008

The central bank approved a plan by Saigon Thuong Tin Commercial Joint Stock Bank, known as Sacombank, to open two branches in Laos and Cambodia, the bank said in a statement emailed to Thanh Nien Daily Thursday.

The lender, which is the only listed bank on the Ho Chi Minh Stock Exchange, said it was urgently completing necessary procedures to open the two branches.

Sacombank set up a representative office in China’s Guangxi Province on January 8 this year.
Former vegetable oil executive to cut stake

Tuong An Vegetable Oil Joint Stock Company said on the exchange’s website Huynh Tuan Phuong Mai, its former chief executive officer, would reduce his stake by half to the equivalent of 0.32 percent of the company’s stock.

He will begin selling 60,745 shares June 16.

Fertilizer giant to continue buyback

PetroVietnam Fertilizer and Chemical Joint Stock Company Thursday announced it would press ahead with a buyback of one million shares.

During the registered buyback period, the firm halted the process after purchasing 600,000 shares, saying it needed to use its cashflow to import fertilizers from abroad to meet domestic demand.

The company will acquire 400,000 shares before September 9 to complete its original plan, according to the exchange.

Sweet firm to issue more shares

The Ho Chi Minh Stock Exchange gave the green light to Bien Hoa Sugar Joint Stock Company to list 1,683,893 new shares on the exchange.

Deutsche Bank raises stake in seafood firm

Deutsche Bank Aktiengesellschaf & Deutsche Asset Management Ltd. raised its holding in seafood trader Nam Viet Corp. to 5.04 percent from 4.98 percent by buying 38,680 shares, according to the exchange’s report on its website Thursday.

Office equipment executive sells 5,000 shares

Sieu Thanh Joint Stock Company, an office automation equipment supplier, said Deputy Director Pham Khac Tien had registered to sell 5,000 shares to reduce his holding to 35,660 shares from 40,660.

The sale started Thursday and will finish on September 12.

Descon to buy back 200,000 shares

Descon Construction Corp. reported to the exchange it will buy back 200,000 shares from June 18 to September 18.

Port operator buys back shares

Doan Xa Port Joint Stock Company, a port operator, bought back 50,000 shares on June 6, the exchange said on its website.

Steel firm gets nod to issue shares to partner

Steel company Hoa Phat Group has been approved to issue 8.26 million shares to its strategic partner, the exchange said on its website without saying the partner’s name.

Petrolimex gas director to up stake

Petrolimex Gas Joint Stock Corp., which has interests in petroleum and petrochemical downstream sectors, announced Tran Van Thinh, a director, will raise his holding from 23,370 shares to 30,000 by buying the shares before June 22.

Source: Thanh Nien

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