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