Mobile World Investment Corporation (MWG VN) – Dissolution of Tran Anh Company
The Vietnamese leading retailer recently announced the dissolution of its subsidiary, Tran Anh Company. This dissolution will not affect the group’s operations because Tran Anh Company was a target company, acquired wholly by Mobile World Group years ago for market share but not the brand name.
The company reported a business result for July 2024 with total revenue of approximately VND11,000 billion (about USD 440 million, up around +10% YoY), in which TGDD/DMX (ICT store) line contributed roughly VND7,000 billion (about USD 280 million, slightly decrease compared to last month) and BHX (convenient store) line contributed roughly VND3,600 billion (about USD144 million, up +28% YoY). MWG closed at its 52-week high of VND69,000 per share on 19th August 2024, up +98.1% from its adjusted 52-week low of VND34,820 per share in early-November 2023.
Development Investment Construction JSC (DIG VN) – Mr. Nguyen Hung Cuong is the new Chairman of the Board
Following the company’s disclosure, their Vice Chairman – Mr. Nguyen Hung Cuong became their new Chairman after the death of the former chairman and also his father – Mr. Nguyen Thien Tuan days ago. Besides, DIC Corp finalized the credit agreement with BIDV and the latter will fund up to VND1,500 billion for the Cap Saint Jacques project located in Ba Ria – Vung Tau.
About Q2.2024 business results, DIC Corp reported net revenue of VND821 billion (about USD 33 million) and pretax income of VND169 billion (about USD7 million). Therefore, the company only completed 44% and 5% of projected revenue and pretax income respectively. DIG VN closed at VND23,750 per share on 19th August 2024, down -29.5% from its 52-week high of VND33,600 per share in April 2024.
Vinamilk (VNM VN) - Foreign Buyers Return Market Cap Back In Top 10
Leading dairy producer Vinamilk (VNM VN) has garnered positive interest from foreign investors. With 33 million stocks being net bought since the beginning of July, worth nearly VND2,400 billion. This led VNM stock prices to reach a YTD high, it previously peaked in September 2023. The positive performance increased Vinamilk market capitalization to ~VND 160,000 billion (USD$6.4 billion) putting Vinamilk back on the top 10 most valuable listed enterprises. VNM closed at VND76,000 per share (+16.40%, 1M).
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