Bloomberg News

Vietnam Stocks: Becamex Infrastructure, Refrigeration Electrical

October 05, 2011

Oct. 5 (Bloomberg) -- Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the 11 a.m. local-time close.

The VN Index, the benchmark measure of the Ho Chi Minh City Stock Exchange, fell 0.2 percent to 417.21, the lowest close since Aug. 29. The gauge retreated for a sixth day, the longest losing streak since May 25.

Becamex Infrastructure Development Joint-Stock Co. (IJC VN), which develops real estate, slumped 4.1 percent to 11,600 dong, the lowest close since Sept. 21. The company cut its 2011 net profit target to 310 billion dong ($15 million) from 519 billion dong, it said in an exchange filing.

Refrigeration Electrical Engineering Corp. (REE VN), the Vietnamese maker of Reetech air-conditioners, rose 1.8 percent to 11,300 dong, the biggest jump since Sept. 22. The Ho Chi Minh City-based company expects its profit and sales to rise 15 percent next year, General Director Nguyen Thi Mai Thanh said in an interview in Hanoi yesterday. The company also expects to rebound from less-than-forecast first-half earnings to meet its 600 billion dong target for pretax profit this year, she said.

--Nguyen Kieu Giang, with assistance from Diep Ngoc Pham in Hanoi. Editor: Shiyin Chen

To contact Bloomberg News staff for this story: Nguyen Kieu Giang in Hanoi at giang1@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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