Bloomberg News

Vietnam Stocks: PetroVietnam Drilling, Phat Dat, Vegetable Oil

January 31, 2012

Jan. 31 (Bloomberg) -- Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the close.

The VN Index, the benchmark measure of the Ho Chi Minh City Stock Exchange, gained 0.8 percent to 387.97, the highest close since Dec. 6. The gauge rose 10 percent this month, the best January performance since 2007.

PetroVietnam Drilling and Well Services Joint-Stock Co., (PVD VN), which offers technical services to the oil and natural gas industry, climbed 4.1 percent to 38,000 dong, its highest close since Oct. 31. Unconsolidated profit rose 26 percent to 1 trillion dong ($48 million) in 2011, according to a statement on its website.

Phat Dat Real Estate Development Corp. (PDR VN), a real- estate development and investment company, fell 3 percent to 16,000 dong. The company’s fourth-quarter profit slumped 98 percent to 3.1 billion dong, according to an exchange filing.

Sao Mai Construction Corp. (ASM VN), a construction company, dropped 0.9 percent to 21,500 dong. Net income plunged 94 percent to 1.99 billion dong in the fourth quarter because of high borrowing costs, the company said in a statement on the exchange’s website.

Vegetable Oil Packing Joint-Stock Co. (VPK VN), which manufactures and trades packages and containers for the food processing industry, jumped by the 5 percent daily limit to 8,400 dong, the most since April 27, 2010. The company’s fourth- quarter profit more than tripled from a year earlier to 6.13 billion dong, according to a filing with the bourse.

--Diep Ngoc Pham, with assistance from Nguyen Dieu Tu Uyen in Hanoi. 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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