Bloomberg News

Vietnam Equity Movers: Sacombank Securities, Vinh Son-Song Hinh

December 06, 2011

Dec. 6 (Bloomberg) -- Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the close in Ho Chi Minh City.

The VN Index, the benchmark measure of the Ho Chi Minh City Stock Exchange, declined 0.3 percent to 390.20, snapping a two- day, 2.9 percent gain.

Sacombank Securities Joint-Stock Co. (SBS VN), slid 4.4 percent to 4,300 dong. The Ho Chi Minh City-based company will shut down its Saigon branch this month as it is trying to “improve operational efficiency,” according to a company statement on the exchange’s website.

Vinh Son-Song Hinh Hydropower Joint-Stock Co. (VSH VN), Vietnam’s second-biggest listed electricity producer, sank 4.5 percent to 10,600 dong, the biggest drop since April 18. The power company revised down its forecast for 2011 electricity output to 750 million kilowatt-hours, compared with 850.8 million kilowatt-hours it generated in 2010, according to a company statement on the bourse’s Web site.

Petroleum Industrial & Civil Construction Joint-Stock Co. (PXI VN), which builds petroleum plants and equipment, dropped 1.8 percent to 5,400 dong. The company cut its 2011 profit target to 52.3 trillion dong ($2.5 billion), and will pay a 2011 dividend to 1,300 dong a share, according to a statement on the exchange’s website. The company earlier this year targeted 2011 profit of 113 trillion dong, and planned to pay a dividend at 1,700 dong a share.

--Nguyen Dieu Tu Uyen. Editor: Darren Boey

To contact the Bloombberg News staff on this story: Nguyen Dieu Tu Uyen in Hanoi at uyen1@bloomberg.net

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


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