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Singapore builder plans big project

Update: November, 19/2007 - 00:00

In Briefs


Singapore builder plans big project

BINH DUONG — Singapore’s Mapletree Investment Pte plans to build an international standard production and business district in the southern province of Binh Duong at a cost of over US$400 million, said the company’s managing director, Chua Tiow Chye.

Covering an area of over 108ha, the project would include a high-tech zone, housing and commercial buildings, said provincial People’s Committee chairman Nguyen Hoang Son.

City to host three Chinese trade fairs

HCM CITY — Three trade fairs showcasing products from China will be held side-by-side November 21-24 in HCM City.

The China Products Fair, the 3C Expo of of IT, communications electronic products, and an exhibition of products from southern China’s Guangdong Province will together bring over 200 Chinese enterprises to display such products and services as home electronics, motorbikes, auto parts, clothing, educational equipment and more.

Casumina to export tyres to EU

BERLIN — Viet Nam will begin exporting tyres for trucks and motorbikes to the EU market under a contract signed Continental AG, a German manufacturer of tyres and auto parts.

An agreement to supply tyres for heavy and light trucks and motorbikes during 2008-12 was signed by Continental with Viet Nam’s Southern Rubber Industry Co (Casumina) at Continental’s Asian office in Malaysia on November 7.

Under the agreement, Continental will import at least 170,000 truck tyres and 600,000 motorbikes tyres made by Casumina at a total value of US$12.9 million per year. The two companies plan to set up a production facility in Viet Nam to manufacture the tyres in accordance with European standards.

Casumina has already exported products to 36 countries and territories worldwide. The company has been ranked 59th among the 75 global largest tyre makers by Rubber & Plastics News (USA).

Sai Gon Paper pockets ASEAN award

HA NOI — Sai Gon Paper Joint Stock Co has won the ASEAN Business Award 2007, announced the Viet Nam Paper and Pulp Association.

The award, given to 12 outstanding ASEAN businesses, recognises their contribution to economic development and prosperity in terms of growth, jobs, business renewal and social responsibility.

Sai Gon Paper is now the fourth largest paper company in Viet Nam in terms of capacity and output.

HSBC wins business award

HA NOI — HSBC Viet Nam has won the Australian Business Award for showing strong commitment to local communities. The award from the Australian Chamber of Commerce in Viet Nam has been given out for the past five years in seven categories.

Nutifood to auction shares in HCM City

HCM CITY — The HCM City Stock Exchange on December 3 will auction more than 657,000 shares in Dong Tam Nutrition Food Joint Stock Company (Nutifood) at the initial price of VND50,000 per share.

The move is part of the company’s plan to sell nearly three million shares - including 2.2 million shares to strategic partners and 165,500 shares to company employees - in order to raise VND119 billion (US$7.4 million).

Of this total, about VND60 billion will be used to build a powdered milk processing factory. The remainder will be used as floating capital.

The company, which has a charter capital of VND120.6 billion, is expected to list on the HCM City bourse before the end of the year.

Dien Quang posts $12m profit till October

HA NOI — The Dien Quang Light Bulb Joint Stock Company in the first 10 months of the year generated revenue of VND931 billion (VND57.8 million) - twice that during the same period last year. Net profit reached VND194.33 billion ($12 million), 3.6 times higher than the corresponding period last year.

The company’s profit for the whole year is expected to exceed VND240 billion ($14.9 million).

General director Ho Thi Kim Thoa said the company had raised its capital from VND80 billion to VND160 billion in preparation for listing on the HCM City Stock Exchange.

Vietstock releases listed yearbook 2007

HA NOI — The first yearbook of listed companies, compiled by the Tai Viet Joint Stock Company (Vietstock), was published last Thursday.

The 448-page book contains business information on 120 enterprises listed on the HCM City Stock Exchange and the Ha Noi Securities Trading Centre.

The cover price is VND99,000.

Hoang Mai Cement to issue shares

HA NOI — The Ha Noi Securities Trading Centre on November 30 will auction nearly 17.8 million shares in Hoang Mai cement company with a face value of VND10,000 per share.

The initial price will be VND15,000.

The company has a charter capital of VND850 billion (US$53 million). Investors have until Thursday to register to buy shares. — VNS

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