Bloomberg News

Vietnam’s Stocks: Binh Duong Mineral, Elcom, Son Ha, Tan Tao

January 03, 2012

Jan. 3 (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, fell 0.4 percent to 350.00.

Binh Duong Mineral and Construction Joint-Stock Co. (KSB VN), a mining and building company, slid 4.9 percent to 35,300 dong, the lowest close since Aug. 4. PXP Vietnam Fund Ltd. will cut its stake in Binh Duong to 5 percent from 6.6 percent starting Jan. 5 to March 2, according to a statement on the exchange’s website.

Elcom Corp. (ELC VN), which offers telecommunications, information technology, automation and electronics products and services, dropped 4.8 percent to 30,000 dong, the most since Dec. 8. Elcom cut its 2011 after-tax profit target by 43 percent to 111.3 billion dong ($5.3 million), according to a filing with the bourse. The company also lowered its 2011 sales target by 46 percent to 506.1 billion dong.

Son Ha International Corp. (SHI VN), which manufactures stainless-steel plumbing products, gained 4.4 percent to 4,800 dong. The company plans to buy back 500,000 shares from Jan. 9 to March 7, according to an exchange statement.

Tan Tao Investment Industry Corp. (ITA VN), an industrial zone operator, gained 4.6 percent to 6,800 dong. General Director Thai Van Men plans to buy 10 million shares from Jan. 6 to March 6, according to an exchange filing.

--Diep Ngoc Pham. Editor: Chan Tien Hin

To contact Bloomberg News staff for this story: Diep Ngoc Pham in Hanoi at dpham5@bloomberg.net

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


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