BINH DUONG — A subsidiary of the Dutch-owned Padifood Group on Thursday (Dec 2) began construction of a plant in Binh Duong Province that will make noodles, vermicelli, instant gruel, and other products.
At the ground-breaking ceremony, Sukmono Viet Nam Ltd Co, the Viet Nam-based subsidiary, said the VND100 billion (US$5.1 million) Jimmy Hung Anh plant in Ben Cat District will have a capacity of 8,000 tonnes of products a year.
After a year or two this will be increased to 60,000 tonnes.
The company hopes to export products worth $10 million-20 million a year, initially to Europe and later to Asian countries.
The plant will provide jobs to around 500 workers.
Fifth Vinamac Expo to open next week
HCM CITY — The fifth Vinamac Expo will be held here from December 8-11 at Tan Binh Exhibition and Convention Centre.
The expo will display machinery, equipment and technology used in the power, mining, construction, food processing, packaging, printing and garment industries.
The exhibition has been organised by the Viet Nam Advertisement and Fair Exhibition Joint-stock Co (VIETFAIR), the Viet Nam Association of Mechanical Industry (VAMI), and ZhongJing International Exhibition Ltd Co (CICIMEX).
Pepper exports rise by $40m this year
HA NOI — Pepper exports so far this year total about 110,000 tonnes worth US$390 million, according to the Viet Nam Pepper Association (VPA).
Despite a decline of 24,000 tonnes compared to the same period last year, the value of exports increased by $40 million.
Viet Nam caters to 50 per cent of the global market, making it the world's biggest pepper exporter.
HAPRO and HABECO ink co-operation deal
HA NOI — The Ha Noi Trade Corporation (HAPRO) and the Ha Noi Beer, Alcohol and Beverage Corporation (HABECO) signed a co-operation agreement on Thursday.
The two companies agreed to support each other in business. Specifically, HAPRO will distribute HABECO products through its chain of supermarkets and stores, while HABECO will consume HAPRO's products in its distribution system.
US investment fund offers loans to small businesses
HCM CITY — The US-based SEAF Blue Waters Growth Fund is offering a financial support programme to small- and medium-sized companies.
The loans will be used for expanding business operations, developing distribution systems or buying other enterprises.
Nguyen Viet Quyen, Business Development Manager of SEAF Viet Nam, said SMEs had difficulty accessing capital sources, especially long-term loans, to expand their business.
SEAF is offering loans of up to US$2.5 million for a three-to-five- year term without mortgages. Eligible businesses are those that have achieved good profits in recent years and have feasible business plans.
Coffee exporter to list on HN index
HA NOI — Coffee exporter Thai Hoa will list shares on the Ha Noi Stock Exchange representing its entire capital of VND550 billion (US$26.2 million).
The company projects earnings of VND3 trillion ($142.9 million) this year and a profit of over VND1 trillion ($47.6 million). The foreign-invested VinaCapital fund is already its sole foreign strategic partner, holding a 10-per-cent stake.
Securities centre ups transparency
HA NOI — The Viet Nam Securities Depository Centre was preparing to introduce an information search service which would allow investors to access information about listed firms as well as their own trading accounts, announced centre director Phuong Hoang Lan Huong.
The service would also substantially promote the transparency of the markets, Huong said.
Western Bank to pay 3% dividend
HCM CITY — Western Bank will close registration on Monday for shareholders seeking to participate in its dividend payment.
Shareholders who owned shares prior to August 21, when the bank had a charter capital of VND1 trillion (US$47.6 million), are eligible to participate in the bank's 3-per-cent dividend on 2010 earnings.
Those holding shares issued after that date, when the bank increases capital to VND2 trillion ($95.2 million), are eligible for a 1-per-cent dividend.
Becamex to list shares on HSE
HCM CITY — Becamex Concrete Co is planning to move its listing from the unlisted public company market (UPCoM) to the HCM City Stock Exchange and will seek a shareholder vote on the change based on a December 8 list of shareholders.
The company, with a charter capital of VND100 billion (US$4.8 million), projects earnings this year of VND304.9 billion ($14.5 million) and net profits of VND40.7 billion ($1.9 million).
Trading firm ups stakes in sugar
HCM CITY —Thanh Thanh Cong Trading Co yesterday began buying up 35.2 million unlisted shares of Bourbon Tay Ninh Sugarcane Co in a move that would increase its stake to 24.95 per cent.
Thanh Thanh Cong is acquiring the shares through negotiated trading through December 20.
It is also buying 2.2 million shares of Ninh Hoa Sugar Company at VND36,000 per share in a bid to acquire a 51-per-cent controlling interest.
The buying will take place through December 30.Source: vnagency.com.vn
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