Intellasia East Asia News – Business Briefs 17 Jul 2019

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* Phat Dat Real Estate Development Corporation (PDR) has approved a plan to issue VND220 billion of secured inconvertible bonds in a private placement in the third quarter of this year. The one-year debt will be offered at a face value of VND100 million each and carry a fixed coupon of 13.5% per year. The yield will be paid every three months. In the previous four bond issues this year, PDR sold a combined VND1 trillion of debt at a coupon of 14.45%, 12%, 10.5% and 14% per annum, respectively. PDR plans to use the proceeds to fund Nhon Hoi ecotourism urban area project in the central province of Binh Dinh.

* Sacombank (STB) booked nearly VND1.5 trillion in pre-tax profit in the first half of the year, equivalent to 55% of its full-year target. The bank recovered more than VND11 trillion of bad debt in the first half, taking the total to nearly VND35. 7 trillion since it began a restructuring program two years ago.

* Vingroup’s (VIC) affiliate VinCommerce and Australia-based XAct Solutions Company have signed a cooperation contract to develop an international-standard supply chain for VinCommerce. The two sides will collaborate to build the foundation of the supply chain and introduce advanced solutions. The project will start with the development of six warehouses to store all of the products in the VinCommerce system and act as distribution hubs.

* Dong Hai Ben Tre Company (DHC) will issue 8.96 million shares to pay a share dividend at a 20-for-100 ratio on the record date of July 22. It plans a dividend payment of 20% for 2019.

* Tien Phong Plastic Company (NTP) will spend VND89.2 billion paying a dividend of VND1.000 per share for 2018 on the record date of July 30. The company will make the payment on September 10. NTP has also a proved a plan to issue 8.92 million bonus shares at a 10-for-100 ratio between the second and the third quarters of this year. The share issue will help NTP raise its registered capital to VND981 billion.

 

Category: Business, Vietnam


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