December 1, 2011

 

Vietnam's AVF to defer capital hike plan
 

 

Viet An JSC (AVF) is delving shareholders' approval to defer its plan on increasing registered capital to VND300 billion (US$14.29 million) this year.

 

The decision was made due to unfavourable conditions of the stock market at this time, said the company's Deputy General Director Tran Le Duc Thinh, giving no specific timetable for the move.

 

Earlier, AVF planned to offer new shares to pay share dividend to shareholders at 1-for-3 ratio for the capital hike.

 

AVF made a net profit of VND32.73 billion (US$1.6 million) on revenues of VND536.9 billion (US$25.6 million) in the third quarter of this year, up 26% and 33.5% on year, respectively, excluding those of its affiliates.

 

This year, AVF targets a net profit of VND162.65 billion (US$7.7 million) on revenues of VND1.82 trillion (US$86.7 million) and a dividend payment equivalent to VND4,000 (US$0.19) per share.