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Posts Tagged ‘Holdings’

Markets nose-dive as investors dump holdings

In Uncategorized on August 4, 2010 at 11:21 am

Movements of VN-Index on August 4. (Photo: experienced the steepest loss in the past four trading sessions on August 4 as investors dumped shares to lock in profits following small gains made the previous day.

The Vietnam’s benchmark tumbled 1.06 percent, or 5.19 points, to finish at 486.71.

Among the index members, 43 stocks gained, 172 dropped, while 40 were unmoved.

Trading volume was at 41.5 million shares, worth VND1.2 trillion, as investors lacked the confidence to disburse.

Foreign investors were still drawn by blue-chips. They mostly bought stocks of BVH, CII, FPT, HAG, HPG, KBC and MPC.

Thanh Cong Textile Garment Investment Trading Joint Stock Company (TCM) won the position of most active stock by volume for the third consecutive day, with 1.31 million shares changing hands. The company announced on July 29 that it had signed a contract with the Singaporean company E-land Asia Holdings Pte., Ltd, one of its major shareholders, to borrow US$1 million to cover expenses involving the Thanh Cong Tower 1 project.

It was followed by Vinafco Joint Stock Corporation (VFC), which advanced 4.94 percent to VND17,000, with 1.1 million shares being traded.

From July 22 to 29, Vietnam Investments Fund I, L.P, a major shareholder of Vinafco Joint Stock Corporation (VFC), sold 400,000 shares to restructure its investment category, reducing its holdings at VFC to 1,379,016 shares.

DIC Investment and Trading Joint Stock Company (DIC) came in third, with more than 996,000 shares.

Big losers on the city bourse included PetroVietnam Finance Joint Stock Corporation (PVF), Saigon Telecommunication & Technologies Corporation (SGT), Son Ha International Corporation (SHI) and DESCON Construction Corporation (DCC). They all eroded the daily maximum allowed limit of 5 percent.

Alphanam Joint Stock Company (ALP) increased by 4.93 percent to VND21,300, from VND20,300 yesterday.

Vietnam Golf Tourism Joint Stock Company (VNG) added up 4.79 percent to VND17,500. Ho Chi Minh City branch of PetroVietnam Finance Joint Stock Corporation (PVF), a major shareholder of VNG, registered to sell 2,285,100 shares between July 29 and October 29, to restructure its investment category and liquidate investment trust contracts. Its current holdings were at 2,295,100 shares, accounting for 17.65 percent of VNG’s registered capital.

Viet Nhat Seafood Corporation (VNH) traded at VND18,200, up 4.6 percent from yesterday.

Hanoi-based HNX-Index also plunged 1.74 percent, or 2.62 points, to 147.86. Around 31.2 million shares changed hands, valued at VND814 billion.

The UPCoM-Index also lost 1.72 points to 49.94. A total of 280,000 shares were traded at VND5.4 billion as of 11 am local time.

Source: SGGP

Market moves down as investors dump holdings

In Uncategorized on March 24, 2010 at 6:24 am

The Vn-Index, which tracks 210 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange, slid for the first time after a huge rally for five consecutive sessions on March 10.

The benchmark finished at 525.67, losing 0.3 percent, or 1.6 points over Tuesday. More than 57.89 million shares worth over 2.6 trillion changed hands.

Of the index, 77 stocks gained, 102 declined, and 35 were unchanged. Steel and seafood groups saw many stocks with large gains. Fuel, rubber, and pharmaceutical groups also attracted investors’ attention. Meanwhile, most banking shares sank or stalled instead of backing the market as they did yesterday.

Furniture manufacturer and exporter Savimex Corporation (SAV), which gave up the maximum daily limit of 5 percent to VND38,000, was the biggest loser, followed by electric light producer Dien Quang JSC (DQC) and Vinalink International Freight Forwarders (VNL) and the Hanoi-based Long Giang Investment and Urban Development JSC (LGL).

Thuan An Wood Processing JSC (GTA) and household-goods producer Son Ha International Corp. (SHI) added up the maximum allowed level of 5 percent to VND12,600 and VND31,500.

Shipper Gemadept Corp. (GMD) was the most active share in volume with more than 3.4 million shares traded at VND84,500. The Saigon Thuong Tin Commercial Bank or Sacombank (STB) came next with more than 2.4 million shares traded at a 0.42 percent down or VND23,900, followed by Saigon Securities Inc. (SSI) with nearly 2 million shares. The country’s largest brokerage lost 1.08 percent to VND91,500.

Hanoi’s HNX-Index also stayed red, falling to 172.09, down 0.61 points, or 0.35 percent. Around 38 million shares were traded at VND1.28 trillion.

The UpCoM-Index lost 0.13 points, or 0.29 percent, to finish at 45.32. A total of 81,872 shares changed hands at VND1.3 billion.

Source: SGGP Bookmark & Share

Major firms dump share holdings

In Uncategorized on November 11, 2008 at 10:45 am

HA NOI — The gains of some major institutional investors in the nation’s stock markets are taking a header following recent months of market turmoil, and many domestic firms are moving proactively to liquidate their stock investments.

Freight forwarder Gemadept saw losses in the third quarter of this year of VND160.5 billion (US$9.55 million), according to the company’s financial reports, due largely to its restructuring of its investment portfolio and the establishment of provisional funds to cover declining share prices.

The company said it had cut its losses and shifted to a longer-term investment strategy on the expectation that the market would not recover in the short term.

As a consequence, it saw losses from its financial investments in the third quarter of a whopping VND260 billion ($15.5 million), while its investments earned only VND34.7 billion ($2 million), a $13.5 million write-down that erased the company’s net profits on sales of goods and services of $5.65 million on the quarter.

“This shows the duplicity of financial investment: it can bring about profits for companies, but can also seriously affect business results,” said Le Dat Chi of the HCM City Economics University’s Faculty of Banking and Finance.

“Whether many companies can meet their profit targets for the year now depends not only on their own management but also on the situation on the stock market between now and the end of the year,” Chi said.

In the third quarter, many companies had already sold shares in their investment portfolios in an attempt to maintain profitability, he added.

For instance, Tan Dai Hung Plastic Joint Stock Co chairman Pham Trung Cang announced at a shareholders meeting in mid-September that his company would liquidate all of its shares in Asia Commercial Bank (ACB), ALTA Co (ALT) and Eximbank – investments with a combined value of about VND128 billion ($7.6 million) – in order to free up capital to invest in new projects.

Cang predicted that, between now and the end of next year, there was little chance the stock market would recover the levels it reached at the end of last year.

In order for Tan Dai to maintain its financial investments, he said, the company might have to establish provisional funds for share price reduction and face high risks in a market continuously trending downward.

Among other firms rethinking their financial investments, Sacombank has sold more than 2.8 million certificates it held in the Viet Nam Investment Fund (VF1) and 165,000 shares of Viet Nam Tanker (VTO).

Sai Gon Securities Inc has dumped 1.6 million shares of Vinh Son Song Hinh Hydro Power (VSH), 200,000 shares of Vinashin Petroleum Investment and Transport (VSP) and 300,000 shares of PetroVietnam Drilling (PVD).

Refrigeration Electrical Engineering Corp has sold 3.6 million Sacombank (STB) shares, while Bao Viet Securities has sold 500,000 shares of Cavico Viet Nam Mining and Construction (MCV).

Huy Nam, an independent securities expert, said the liquidation of financial investments depended on each firm’s caculations as well as expectation of the prospect of the stock market in the future.

“If companies have good capital projects for development, liquidating all or part of their investment portfolios to raise capital for these projects is better than letting capital lie idle, [particularly] in a context when loan costs are high,” Huy Nam said.

“Share liquidation also helps firms avoid continuously having to establish provisional funds to cover stock losses if the market continues to decline.” —

Temasek Holdings licensed to open Hanoi rep. office

In Uncategorized on September 18, 2008 at 6:04 pm

Singapore’s Temasek Holdings (Private) Limited has been officially licensed to operate its representative office in Hanoi.

The new office will enable the corporation to foster closer working ties with Vietnamese businesses and reinforce its commitment to Vietnam as a key market in Southeast Asia.

Temasek first established its presence in Vietnam in 2005 through a representative office in Ho Chi Minh City.

The two rep. offices function as offices for communication and market research and promote cooperative projects on securities and stock market in Vietnam.

They also supervise the execution of signed agreements between Temasek and Vietnamese economic organisations and Temasek funding projects in Vietnam.

With the Hanoi new office and increased staff strength, the corporation can now further tap on the advantages of having a presence in Vietnam’s two important business centres, said its Chief Representative in Vietnam, Derek Lau.

He added that the corporation is in a strategic position to reach out to existing and potential partners to explore partnerships and investment opportunities in Vietnam.

Temasek Holdings has invested in some companies in Vietnam such as Minh Phu Seafood Joint Stock Company, Vinasun Taxi Company and Binh Chanh Construction and Investment Company.-