Capital mobilisation via stock

HA NOI — The State Securities Commission (SSC) has licensed shares worth more than VND45.5 trillion (US$2.3 billion) since the beginning of this year.

The SSC granted licences for almost VND3 trillion ($150 million) worth of new shares issued from November 17-23.

Asia Commercial Bank (HOSE: ACB) offered over 156.2 million shares; PetroVietnam Southern Gas Co (HNX:PGS) 22.1 million; Hai Phong Petrolimex Transportation and Service Co (HNX:PTS) 1.74 million; and unlisted Eastern Asia Commercial Bank offered 110 million shares.

PVX to hit annual targets

HA NOI — PetroVietnam Construction Joint Stock Co (HNX:PVX) has announced it will hit its targets this year, making a revenue of VND7 trillion (US$342 million) and pre-tax profit of VND836.76 billion ($41 million), equivalent to 114.41 per cent of the annual goal.

These achievements resulted from PVX's successful restructuring and the establishment of several new companies and investment schemes that have brought about profits of over VND200 billion ($9.76 million).

KMT plans to list on northern bourse

HA NOI — The Central Viet Nam Metal Corp (KMT) is finalising necessary procedures to delist shares on the Unlisted Public Company Market (UPCoM) and to move its listing to the northern bourse, starting from December 15.

The company aims to earn over VND1.14 trillion (US$56 million) in revenue and VND14 billion ($680,000) in pre-tax profit this year, and plans to pay a 10 per cent dividend.

KMT, with charter of capital of VND98 billion ($4.8 million), operates in producing and trading metal products, raw materials, metal waste and construction materials.

Bao Viet Holdings does deal with bank

HA NOI — HCM City-listed Bao Viet Holdings yesterday signed a co-operation agreement with Shinsei Bank Limited (Shinsei), a leading Japanese financial institution.

The alliance gives Bao Viet access to Shinsei's customers who want to do business in the Vietnamese market, expanding Bao Viet's customer base and revenue opportunities. — VNS

Electronic transfers used for tax payments

HA NOI — The Ministry of Finance has issued regulations for paying tax by electronic methods, effective from January 1 next year.

Taxpayers will be able to pay tax directly using internet, mobile phone, ATM or via the taxation office web site.

Within three days, the taxation office would notify the taxpayer via email. If not approved, the taxation office would explain the reasons, the ministry said.

While taxpayers were registered for using e-transaction services via the electronic portal of the taxation office they would be not permitted to use other methods to pay tax.

HSBC VN manages cash for POSCO

HCM CITY — HSBC Viet Nam has been selected by a major Korean steelmaker, POSCO, to provide cash management services to its nine affiliates, including POSCO E&C, POSCO Steel Service&Sales and POSCO Specialty Steel in Viet Nam.

The services include cash flow, cash transfers between Viet Nam and the Republic of Korea and payments, among others.

TienPhongBank, BIDV sign agreement

HA NOI — Joint-stock TienPhongBank and the Bank for Investment and Development of Viet Nam(BIDV) have entered into a cross-border payment agreement.

BIDV will support the other's trading customers in settling their deals across the border with China via Chinese banks, in Vietnamese dong for exports to China and in Chinese yuan for imports.

Currently, only several major banks have been permitted by the State Bank to settle payments with banks in China in yuan.

Energy conservation expo in HCM City

HCM CITY — The three day Energy Conservation Exhibition 2010 (Encon Expo 2010) opened at the city's Phu Tho Stadium yesterday.

The exhibition will scale many products including lighting and electrical equipment, renewable energy, transportation, biological energy and monitor equipment of more than 100 domestic firms and 30 foreign firms from Germany, France, Russia, Canada and the Republic of Korea.

Source: vnagency.com.vn