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Gov't underwrites VALC for international loans

Update: March, 11/2009 - 00:00

In Briefs


Gov’t underwrites VALC for international loans

HA NOI — The Government yesterday decided to underwrite the Viet Nam Aircraft Leasing Company (VALC) to get credit from abroad to buy aircraft. The Ministry of Finance and the company will co-operate to finalise relevant applications, appraise aircraft purchasing projects and submit them to the Government.

VALC, which was founded by BIDV, Vietnam Airlines, PetroVietnam and Phong Phu Corp in 2007, does business in purchasing and leasing aircrafts, hiring and re-leasing aircrafts, air transport and other aviation services. VALC services the national flag carrier Viet Nam Airlines.

Power company gets State honour on fifth birthday

HCM CITY — Phu My 3 BOT Power Company will celebrate its fifth anniversary today, when it will also be conferred the Labour Order, Third Class.

The company is equally owned by BP Holdings, a subsidiary of the UK’s BP, SembCorp Utilities, a subsidiary of Singapore’s SembCorp Industries, and a consortium of Kyushu Electric Power and Sojitz Corporation (Japan). Its plant in Ba Ria-Vung Tau Province has a designed capacity of 716.8MW, around 10 per cent of the country’s total output.

PM3 contributes to several community projects supporting disabled people, provides scholarships, and has established the Agent Orange Victim Fund in Ba Ria-Vung Tau Province.

Dien Bien to host April international trade fair

DIEN BIEN — An international trade fair will be held from April 20-26 at Dien Bien Culture and Convention Centre.

There will be around 250 domestic and international enterprise booths. The fair aims to strengthen trade promotion, help sales and promote exports.

Products on display will include garments and textiles, footwear, handicraft and electronic items.

Netherlands energy firms plug into Viet Nam

HA NOI — Up to 15 energy and oil firms from the Netherlands will conduct a survey to enhance co-operation and investment in Viet Nam from March 30 to April 2.

During their visit to Ha Noi and HCM City, the delegation will meet leaders of the Ministry of Industry and Trade and People’s Committees and work with domestic partners such as Vietsovpetro and PetroVietnam involved in energy and oil and gas service.

Several Netherlands companies already have invested in Viet Nam including Vopak LNG, Holding BV and Van Oord Offshore BV.

Thai bank gets go-ahead to open Ha Noi branch

HA NOI — A Bangkok bank has been licensed to open its first branch in Ha Noi.

Under the licence, the branch of the Bangkok Bank Public Co Ltd will be located on Ngo Quyen Street, Hoan Kiem District. It will carry out standard banking operations such as capital mobilisation, credit activities, and payment and budget services.

The bank has 12 months to complete formalities. It joins three wholly foreign-invested banks, four foreign bank branches and three 100 per cent foreign-invested financial companies licensed by the State Bank of Viet Nam.

47th fund management company licensed

HA NOI — Tiger Alliance Capital Fund Management has become the nation’s 47th license fund management company, with a charter capital of VND25 billion (US$1.5 million). The firm is located in HCM City’s District 1.

Phu Nhuan Jewelry to offer 30 million shares

HCM CITY — Phu Nhuan Jewelry Co will offer 30 million shares at an intial price of VND38,000 per share on the HCM City Stock Exchange on March 23. On the first day of trading, the share price will be allowed to move within a trading band of plus-or-minus 20 per cent. Phu Nhuan has a charter capital of VND300 billion (US$17.1 million).

EVN to sell stake in Thac Ba Hydropower Plant

HA NOI — Electricity of Viet Nam (EVN) will sell 13.3 million shares in its Thac Ba hydroelectric facility to its affiliate, EVN Finance, the company announced.

This amount is equivalent to 21 per cent of the total charter capital in this hydropower plant.

At present, the EVN holds 51 per cent of Thac Ba Hydropower Plant’s charter capital, which made it the big partner of this plant.

Hoa Binh Rubber sets business targets

HCM CITY — Hoa Binh Rubber Co (HRC) has announced its 2009 business targets, including revenues of VND161.6 billion (US$9.2 million) and profits of VND40.62 billion ($2.3 million).

The company also plans to pay a 20-per-cent dividend on its 2009 earning.

Last year, the company achieved VND88.04 billion in profits and expects to pay a 30-per-cent dividend. HRC shares yesterday closed up 0.99 per cent to VND21,100. — VNS

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