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Posts Tagged ‘remain’

Blue chips on OTC market remain good investments

In Uncategorized on December 16, 2010 at 10:08 am

Despite most of shares on the official stock markets slumping, some on the over-the-counter market, known as OTC, remain bullish thanks to their healthy earning rate, brokers said.

Some blue chips with good earning reports remain at high prices on the OTC market, while most of shares on the official markets decline (Photo:Minh Tri)

Among winners on the OTC market are unlisted companies in retail sector, with a limited amount of issued shares.


The pillow maker Everpia Vietnam (EVE), known as Everon, made a high net profit of VND90 billion (US$4.5 million) from a revenue of VND490 billion in the first 11 months of the year. The profit is equal to 92.8 percent of 2010’s target.


Analysts expect the firm’s profit will likely to be more than VND100 billion ($5 million) thanks to a strong demand for cushions, blankets and pillows at yearend.


The Hanoi-based company will list more than 15 million shares at the starting price of VND55,000 per share on the Ho Chi Minh Stock Exchange on December 17th, according to a report on the bourse’s website.


Everon, which Korean investors hold more than 49 percent stake, is one of the biggest pillow maker in Vietnam with more than 25 percent market shares. The firm’s share price closed at VND43,330 on the OTC market with this year’s price-on-earnings ratio of 8x.


Another blue chip on the OTC market is the alcohol producer Halico, which earned around an after-tax profit of VND100 billion last year.


The Hanoi-based firm announced it would pay this year’s dividend rate of 94.33 percent, of which shareholders will get 10 percent in cash and the remainders in shares.


Halico made a net profit of VND87.45 billion ($4.4 million) from a revenue of VND594 billion in three quarters of the year. The liquor maker’s share price is VND81,430 with an earnings-per-share rate of VND4,372 for one share.


The firm’s listing plan on the Ho Chi Minh Stock Exchange this year was changed to next year as the stock market is gloomy.


The biggest fish source supplier Massan Food is exchanging hands at a high price of VND90,000 with low trading volume, brokers said.


The Noi Bai Cargo Terminal Service JSC (NCTS) remained unchanged at VND50,000 per share for many days as the firm announced it would raise the dividend rate this year to 100 percent from 75 percent.


The Hanoi-based company also raised its projected pretax profit by 37 percent to VND133.3 billion ($6.7 million) this year.


Trading on the OTC market remained quiet as investors are hesitate to sell shares with good earning reports, brokers said. “They are patiently waiting for a strong recovery on the market,” said a broker, who asked not to be named.

Source: SGGP

Japan’s economy expands in Q3, but risks remain

In Uncategorized on November 15, 2010 at 6:30 am

Prime rate to remain unchanged at 8 pct

In Uncategorized on October 29, 2010 at 5:09 am

The State Bank of Vietnam decided October 27 to retain the prime interest rate for dong deposit accounts at 8 percent for the 12th consecutive month. 

Transactions conducted at an Orient Commercial Bank branch in Ho Chi Minh City (Photo: SGGP)

The refinance interest rate is set at 8 percent per annum and the discount rate at 6 percent. The overnight rate in inter-bank electronic payments, and the rate of loans to finance balances in clearing transactions between the State Bank and commercial banks are all 8 percent per annum.


The decision will take effect as of November 1, 2010.


According to the bank’s statistics, the average deposit interest rate in dong has reduced by 0.14 percent per annum on the market.
 
The current average rate is 10.44 percent per annum.
 
Commercial banks have cut their deposit interest rates by 0.1-0.2 percent points to 11 percent per annum since October 15 in accordance with their commitment to the Vietnam Banking Association.

Source: SGGP

50 schools in Quang Binh remain closed due to floods

In Uncategorized on October 14, 2010 at 6:28 pm




50 schools in Quang Binh remain closed due to floods


QĐND – Thursday, October 14, 2010, 21:19 (GMT+7)

100,000 pupils in Quang Binh went to school after the province was severely hit by flood while 14,000 others, mostly at 50 kindergartens and primary schools, cannot do so as their schools were severely damaged.


According to Quang Binh Department for Education and Training, the recent flood submerged 500 schools, leading to the deaths of five children while many others were injured.


Since October 8th, when the flood water-level receded, many schools have been cleaned by volunteer youths. Quang Binh Youth Union mobilised 4,500 members to clean and repair chairs and tables in 500 schools throughout the province.


However, 50 schools in the province remain closed and 14,000 pupils cannot go to schools as the infrastructure of their schools was seriously damaged and they themselves lost many of their studying materials.


Source: Lao Dong

Translated by Ngoc Hung

Source: QDND

Market closes down as investors remain cautious

In Uncategorized on May 31, 2010 at 9:25 am

Vietnam’s benchmark VN-Index put an end to last week’s surge on May 31, as investors became wary due to the instability of global markets.

The shares of 230 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange dropped by 5.55 points, or 1.08 percent, to 507.44. Liquidity on the market fell by 30 percent over the previous trading session, as 44.8 million shares changed hands at a value of VND1.28 trillion.


Among the index members, 49 gained, 165 declined, while 20 were unchanged.


Hoang Long Group (HLG), which fell the daily maximum 5 percent allowed limit to VND39,900 from VND42,000, led the losers on the city bourse.


Thuan An Wood Processing Joint Stock Company (GTA), located in the neighboring province of Binh Duong, lost 4.92 percent to trade at VND11,600.


Chuong Duong Beverages Joint Stock Company (SCD) closed at VND31,000, down 4.91 percent.


Transport Engineering Construction & Business Investment Stock Company 584 (NTB) topped the list of most active shares in volume with 2.56 million shares changing hands.


From June 2 to August 2, Nguyen Vu Thai Quang, a major shareholder of the Transport Engineering Construction & Business Investment Stock Company 584, registered to sell 500,000 shares, reducing his holdings to 1,502,000 shares, accounting 4.18 percent of the chartered capital, to restructure investment category.


Vietnam Electricity Construction Joint Stock Corporation (VNE) followed with 2.09 million shares trading up 3.98 percent.


Saigon Securities Inc. (SSI) dropped to third place with more than 1.9 million shares traded today.


Idico Urban and House Development Joint Stock Company (UIC) rose as much as 4.97 percent to VND38,000.


The Vietnam Securities Depository announced that June 8 would be the last day to register to pay dividends by cash of the Idico Urban and House Development Joint Stock Company. Accordingly, UIC will pay dividends at a rate of 4 percent per share.


Dong Hai Joint Stock Company of Bentre (DHC) gained 4.95 percent to VND21,200 from VND20,200


Bien Hoa Sugar Joint Stock Company (BHS) climbed 4.92 percent to VND34,100.


At the smaller bourse in the north, recovery also ended as the Hanoi’s HNX-Index decreased 3.11 points, or 1.87 percent, to 163.6 points. Trading volume fell by nearly half over the last trading session to 29.9 million shares worth more than VND999 billion.


Meanwhile, the UPCoM-Index rose 0.3 points or 0.61 percent to 49.32. The market of unlisted stocks saw 45,740 shares changing hands at VND727 million.


Internationally, the MSCI index fell 0.3 percent to 113.14 points as of 10:15 am Vietnamese time.


Japan’s Nikkei 225 lost 0.21 percent while Australian All Ordinaries and China’s Shanghai Composite sank 0.3 percent.


However, Korea’s Kospi advanced 0.3 percent; Taiwan’s Taiex surged 0.02 percent; and Hong Kong’s Hang Sheng increased 0.24 percent.

Source: SGGP

Stocks almost unchanged as investors remain cautious

In Uncategorized on May 11, 2010 at 12:49 pm

Despite good news from global market, Vietnam’s benchmark VN-Index continued to slide for three straight days on May 11 as investors were still wary.

The shares of 227 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange, lost 0.02 points to finish at 534.36 points. Trading volume sharply dropped as around 69.1 million shares, worth VND2.17 trillion, were traded.


Among the index members, 97 stocks gained, 92 fell, and 42 were flat.


Hanoi-based FPT Corporation (FPT), Vien Dong Investment Development Trading Corporation (VID), and Cuu Long Fish Joint Stock Company (ACL), which located in the Mekong Delta province of An Giang were the big losers on the city bourse.


Royal International Corporation (RIC) rose by 4.98 percent to trade at VND33,700 from VND32,100 yesterday.


Vegetable Oil Packing Joint Stock Company (VPK) climbed up 4.96 percent to VND12,700.


Hoa Binh Construction & Real Estate Corporation (HBC) gained 4.94 percent to trade at VND44,600.


Saigon Securities Inc. (SSI) was the most active stock in volume with 3.64 million shares. Vietnam’s largest brokerage gave up 0.49 percent to trade at VND41,000.


PetroVietNam Transportation Corporation (PVT) came next with 2.42 million shares, followed by Société De Bourbon Tay Ninh (SBT) with 2.19 million shares.


Meanwhile, the smaller bourse in the north made a contrast move as the Hanoi’s HNX-Index advanced by 0.73 points, or 0.4 percent, to close at 182.43 points. Trading volume also fell to nearly 48.7 million shares, worth VND1.76 trillion.


The UPCoM-Index rose by 0.06 points to 55.71. A total of 413,705 shares was traded at VND7.39 billion.

Source: SGGP

Unchecked toys remain on market after ministry ban

In Uncategorized on April 22, 2010 at 4:14 pm




Unchecked toys remain on market after ministry ban


QĐND – Thursday, April 22, 2010, 21:42 (GMT+7)

Many toys without safety labels remain on the market although the Ministry of Science and Technology banned such items on April 15.


Hoang Lam, deputy director of the Quality Assurance and Testing Centre No 3 (Quatest 3), said toys must be tested for aromatic amine, formaldehyde, pH level, physical safety, and poisonous content on paint, fabric, plastic and metal.


Trusted agencies for tests are Quatest 1, 2, 3 and Standard Approval Centre (Quacert).


“Toys for kids under 16 years old have to be checked and labeled safe before they come to market,” said Tran Tuyet Nhung, deputy director of the Assessment Department under the General Department of Standards, Measurement and Quality.


But toyshops in HCM City and Hanoi are full of unchecked items that can be seen at Tan Dinh and Binh Tay markets, shops on Phan Dinh Phung street in HCM City , or Hanoi ’s Hang Ma, Cha Ca, Luong Van Can streets.


Nguyen Truong Son, deputy head of Hanoi ’s Market Watch Division 2, told Tuoi Tre (Youth) newspaper that his division had not seen any of the new labels, which were supposed to be issued by the ministry.


HCM City Market Watch Division is currently carrying out checks on toys. About 90 percent of the toys are of Chinese origin, with no information or instructions in the Vietnamese language, the division said.


Lam said it would take a long time to conduct inspections on items imported to the country before April 15. “Distributors of toys are reluctant to send goods to testing agencies for tests as well,” he said.


Nhung said there were still no labels on goods from exporters and distributors.


Source: VNA


Source: QDND

Remote schools remain empty after holiday

In Social life on February 26, 2010 at 3:22 pm




Remote schools remain empty after holiday


QĐND – Thursday, February 25, 2010, 22:10 (GMT+7)

Students in remote and poor areas nationwide are dropping out of school after the Tet holiday despite the Ministry of Education and Training (MoET)’s best efforts to support poor students returning to class.


Before the Tet holidays, the ministry sent a document to departments of education and training nationwide to provide help and support to poor students so that they would not drop out of school after Tet, an annually re-occurring problem.


In many schools, teachers are finding that students have not returned to class.


Student absences are mainly due to having to help their parents in farming, according to Tran Thi Viet, principal of Hoang Then Primary School in the northern mountainous province of Lai Chau.


For some other students, it is because they want to have longer holidays, she said.


Even with the efforts of teachers visiting parents to persuade them to get their children to return to school after Tet, schools only welcomed 86 per cent of the students on the first school day after the holiday.


Some 150 students out of 1,800 students at the school failed to return after Tet, accounting for 8.4 per cent of the total, three times higher than the allowed rate of the MoET.


Only 70 of 250 students in the secondary school of Tra Lanh Commune in the central province of Quang Ngai returned to school after the holiday, according to Dinh Van Lep, head of the Education Unit of Tay Tra District.


Meanwhile, only 90 per cent of students in Nam Se Secondary School in Lai Chau came to school after Tet, according the school’s principal Pham Thi Mai.


“Some of them have quit school, but others return after a long Tet holiday as it is traditional for Dao ethnic people to take a longer break, this happens every year,” she said.


Nguyen Xuan Luong, vice principal of Mu Sang Primary School in Lai Chau said he was worried as students taking long periods of time off school could affect their studies.


Ngoc Anh, principal of Trung Leng Ho School in Bat Xat Commune of northern mountainous province of Lao Cai , said that the provincial People’s Committee had to support the school in calling for students to return to class.


The commune’s authority would also organise a festival to gather residents in the commune and ask them to take their children to school.


To tackle the problem, MoET has recently ordered departments of education and training in cities and provinces nationwide to set up lists of students in difficult circumstances.


Schools nationwide will have to submit their reports on the number of students dropping out of school after the Tet holiday to MoET by the end of this month, according to Do Thi Van, an expert at the ministry’s Department of Planning and Finance.


Source: VNA


 


Source: QDND

Stocks unchanged as investors remain cautious

In Vietnam Stock Market on September 17, 2009 at 1:31 pm

Vietnam’s major stock exchange in Ho Chi Minh City continued to tread water on Wednesday as shareholders sold shares to take profits, while investors bought heavily only at opening prices or less.


VN-Index, the measure of 174 stocks on the bourse, hovered around 556.98, edging up 0.23 points, 0.04 percent.


Of the index members, 69 stocks advanced and 91 dropped. Trading volume slid five percent, accounting for 65.5 million shares worth VND3.32 trillion.


As third-quarter earnings results of listed companies have been released already, analysts said investors are now in a cautious mode, waiting for data on macroeconomic factors. They also added to sentiment on the HCMC stock exchange, which has been affected a little by recent net selling by foreign investors.


Foreigners remained net sellers for eight trading days, selling shares worth VND137 billion today. Among the shares they dumped, the heaviest were Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII), Gemadept Corporation (GMD), steel producer Hoa Phat (HPG) and Vinh Son – Song Hinh Hydropower JSC (VSH).


Hoang Long Group (HLG) rose 4.83 percent to close at VND45,600. The construction firm said on the exchange’s website that Nguyen Hoang Tuan, son of supervisory board member Nguyen Tuan Kiet, sold 11,000 out of his holding of 16,000 shares before September 26.


Southern Seed Corporation (SSC) inched up 0.97 percent to VND52,000. The company sold 100,000 out of 100,680 shares it had bought back before this month, according to a statement on the exchange’s website.


It also informed the bourse that Nguyen Tien Hiep, board member and chief accountant, cut his stake from 0.1 percent to 0.05 percent by selling 5,000 shares early this month.


Tan Tao Group (ITA) closed lower 1.28 percent at VND38,500. The industrial zone operator announced on the bourse’s website that Le Thi Phuong Chi, member of the supervisory board, registered to sell 10,000 out of 10,447 shares.


At the smaller bourse in Hanoi, the HNX-Index advanced 1.59 points, 0.92 percent, to close at 174.87.


The UPCoM-Index of unlisted stock gained 0.89 points, 1.39 percent, to end 63.32 points, as of 11am.


Source: SGGP

Laos’ economy to remain stable growth for next few years

In Uncategorized on November 19, 2008 at 3:41 pm

Vientiane (VNA) – Laos’ economic growth is expected to remain stable over the next few years despite the global financial crisis, said Lao Deputy Minister of Planning and Investment Bounthavy Sisouphanthong.

The MPI official made this forecast on November 18 while undertaking the mid-term review of the sixth national socio-economic development plan for the period 2006 to 2010.

The forecast was based on the robust growth of Laos’ hydropower and mining sectors, the Deputy Minister said.

According to the MPI’s report, Laos registered an average annual growth rate of 6.5 percent during 1990 and 2005. In 2006 and 2007, the growth rate reached 7.9 and 8 percent, respectively.

Deputy Minister Bounthavy said he believed that economic growth would remain strong at the end of the sixth five-year plan.-