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VPBank raises its charter capital to US$240 million

Update: January, 13/2012 - 10:21

HA NOI — Viet Nam Prosperity Joint Stock Commercial Bank (VP Bank) has officially increased its charter capital from VND4.433 trillion (US$211.1 million) to VND5.050 trillion ($240.47 million).

The increase stemmed from stocks which VP Bank released to reward current shareholders as a bonus.

A surge in the bank's charter capital will help it build up its financial capacity, widen its network, invest in facilities and diversify its services.

Vietsovpetro's revenues exceed US$ 5.6 billion

HA NOI — The Viet Nam-Russia oil and gas joint venture, Vietsovpetro has announced that its crude oil revenues exceeded US$5.6 billion in 2011.

The figure was 57.6 per cent higher than the target set for the whole year and $1.68 billion higher than its earnings recorded in 2010, Vietsovpetro General Director Nguyen Van Tuyen said at a conference in Ha Noi on Tuesday.

For 2012, Vietsovpetro has set a target of pumping up at least 6.14 million tonnes of crude oil, bringing in total revenues of $4.14 billion.

CleverAds becomes official partner of Google AdWords

HA NOI — Clever Advertising Joint Stock Company (CleverAds) announced yesterday that it officially became Google AdWords Premier SME Partner in Viet Nam.

CleverAds is a pioneer company in implementing Google Adwords and other Google advertising products in Viet Nam. Over the past four years, CleverAds has obtained a full technical certification from Google and has been strong partner in carrying out the company's market development strategies in Viet Nam.

By late 2011, CleverAds had the largest market share in Viet Nam with more than 1,000 customers such as Vietnam Airlines, Mobifone, VinaPhone, LG Electronic and Honda Viet Nam.

Nguyen Khanh Trinh, director of CleverAds, said that becoming Google's first official partner would pave the way for other domestic businesses to apply advertising services and utilities provided by Google.

Businesses required to hire appraisal consultants

HA NOI — Equitising enterprises with total assets of more than VND30 billion (US$1.43 million) are required to hire professional consultants to appraise the value of their venture, according to the Ministry of Finance (MoF).

In turn, consultants must be assessed by the MOF and the list of approved organisations will be announced by the Ministry annually.

Equitising businesses holding more than VND10 billion ($0.48 million) in State capital have also been asked to seek consultation.

Hoang Anh Gia Lai targets $81m in profit

GIA LAI — Real estate developer Hoang Anh Gia Lai (HAG) has targeted profits this year of VND1.7 trillion (US$81 million), a figure essentially unchanged from last year's target. In addition to its traditional operations, the group projects earnings from rubber and sugar processing, with rubber plantations in Viet Nam, Laos and Cambodia totalling 51,000ha. The company expects to begin producing its first rubber latex in Laos by July and will put a sugar mill into operation in the fourth quarter of this year with a capacity of 7,000 tonnes per day.

Masan strengthens hold on coffee producer

DONG NAI — Masan Consumer, a subsidiary of food processor Masan Group (MSN), has purchased an additional 35,000 shares in Vinacafe Bien Hoa Corp (VCF), increasing its majority interest in the coffee processor from 50.1 per cent to around 50.25 per cent. The transactions were made through negotiation between November 4 and December 4 of last year.

Eximbank becomes top Sacombank shareholder

HA NOI — Eximbank (EIB) has become the largest shareholder in Sacombank (STB) following its acquisition of ANZ Bank's entire stake of about 103 million shares, representing a 9.6-per-cent interest in STB. Earlier in the week, Refrigeration & Electrical Engineering Corporation (REE) also sold 42 million STB shares to Eximbank.

Firm to pay dividends after broker suspended

HCM CITY — Khanh Hoi Import-Export Co (KHA) will pay dividends to its shareholders directly via its headquarter in HCM City rather than through their accounts placed with SME Securities Co. The move came after the announcement that SME's clearing operations had been suspended through February 7. — VNS

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