APEC Securities partners with grocer

HA NOI — APEC Securities has bought 393,000 shares in grocery store owner Tong Bach Hoa Co, giving it a 12.6 per cent stake.

The stockholding allowed APEC Securities to invest in the company's real estate projects, including the construction of a housing estate over an area of 24,882sq.m.

The project is expected to start in early 2011 and once in operation, it is estimated to generate a profit of VND300 billion (US$15.4 million).

APEC Securities was already rated as one of top 10 listed companies holding the largest proportion of brokerage provision on the Ha Noi Stock Exchange in the second quarter.

BIDV Insurance makes IPO in Ha Noi

HA NOI — The BIDV Insurance Company sold all 11.5 million shares offered in the initial public offering which opened on Thursday, said the Ha Noi Stock Exchange.

The shares were bought at an average price of VND11,225 a piece, while the highest subscribed price was VND16,500 and the lowest VND10,900.

The company earned a total turnover of VND129.2 billion ($6.6 million) through the auction. BIDV Insurance achieved a turnover of VND346.1 billion ($17.7 million) in the first half this year, representing a year-on-year increase of 62 per cent.

The company posted a pre-tax profit of VND36.3 billion ($1.9 million) over the same period.

Foreign investors receive licences to trade

HA NOI — The Viet Nam Securities Depository in July issued securities trading licences for 123 new foreign investors, including 14 institutions and 109 individuals.

From January-July, 187 foreign institutions and 620 foreign individuals received licences to trade in the domestic stock market, raising the total number of foreign investors to 4,396.

Foreign investors bought a net VND555 billion (US$29.2 million) worth of stock on the HCM City Stock Exchange in July, a fall of nearly 40 per cent from June. Their total net buys reached VND6.7 trillion ($352.6 million) in the first seven months of this year.

ITA posts high profit in first half

HCM CITY — Tan Tao Investment Industry Corp (ITA) posted a net revenue of over VND795 billion (US$41.8 million) in the second quarter, raising the first half revenue to over VND1.17 trillion ($62 million), a year-on-year increase of 98 per cent.

Its net profit reached over VND111 billion ($5.9 million) in April-June, totalling the first-half net profit to over VND203 billion ($10.7 million), up 118 per cent from the same period of last year.

However, the firm has completed only 40 per cent of this year's revenue plan and 30 per cent of its after-tax profit plan.

PVX earns $201m revenue in first half

HA NOI — PetroVietnam Construction Co (PVX) announced a total revenue of VND3.82 trillion (US$201 million) in the first half of the year and a pre-tax profit of VND577 billion ($30.4 million), up 824 per cent from the same period of last year. Its first-half net profit reached VND442 billion ($23.2 million), a year-on-year increase of 685 per cent.

In the first six months, the company bid for 18 tenders of 11 projects and won 14 of them worth a total of VND4.5 trillion ($236.8 million). It also signed 63 business contracts worth over VND3.7 trillion ($194.7 million) during the period.

PVX targets to gain nearly VND4.68 trillion ($246.3 million) in revenue and VND327 billion ($17.2 million) in post-tax profit in the remaining six months of this year. — VNS