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Thu Dau Mot Water to make capital contribution to water services firm

The Saigon Times

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HCMC – Thu Dau Mot Water Joint Stock Company, which trades its TDM shares on the Hochiminh Stock Exchange, has passed a plan to spend VND12 billion purchasing 1.2 million shares of Gia Tan-Cam My Water Company, or acquiring a 20% stake in the latter.

Gia Tan-Cam My Water Company was established on August 1 this year and is located in the southern province of Dong Nai. The company mainly operates in water exploitation, treatment, and supply, with its legal representative being Vo Van Binh.

Binh is also the legal representative of three other companies, including D&B Trading and Engineering Services Company, Inwatek, and Thong Nhat Industrial Park Infrastructure Development Joint Stock Company.

In the year to September, TDM had obtained over VND353 billion in revenue and VND146.5 billion in after-tax profit, up 16% and down 24% year-on-year.

TDM looks to gain VND510 billion in revenue and nearly VND236 billion in after-tax profit this year.

Closing the trading session today, November 18, TDM expanded 5.65% over the session earlier at VND29,900.

Regarding to the benchmark VN-Index of the HCMC exchange, it ended mostly unchanged compared to yesterday at 969.33 points, with 268 advancers and 176 decliners. Trade on the southern bourse improved more than 32% in volume and 20% in value against the previous session at over 960 million shares and around VND13.7 trillion, including some VND2.1 trillion worth of shares traded in block deals.

The VN30 basket saw 13 winners and 13 losers, while the remaining four stocks, including three lenders VCB, MBB, VPB and electricity firm POW moved sideways.

Steelmaker HPG surged 6% to VND15,100. It was the most actively traded stock on the southern bourse with close to 100 million shares changing hands.

On the Hanoi bourse, many stocks reversed course to end higher, thereby enabling the HNX-Index to add 3.01 points, or 1.6% day-on-day to close at its intraday high of 190.87, with 116 stocks rising and 65 others dipping.

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