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Tuesday, July 16, 2024

TNG dissolves two subsidiaries

The Saigon Times

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HCMC – TNG Investment and Trading JSC (HNX: TNG) on July 11 announced the dissolution of two subsidiaries, TNG Eco Green and TNG Fashion.

The two subsidiaries are dissolved as they are no longer aligned to the company’s orientation.

TNG Eco Green, established in February 2019, was headquartered in Thai Nguyen Province. Its main business is real estate. TNG Fashion was a fashion company, established in June 2019 and also headquartered in Thai Nguyen.

They had charter capital of VND50 billion each and were wholly-owned by TNG, represented by TNG’s board chairman, Nguyen Van Thoi.

This year, TNG looks to obtain nearly VND6.8 trillion in revenue, which is equal to the amount recorded in 2022, while its profit after tax is targeted 2% higher at VND299 billion.

The company’s revenue in the first half of 2023 rose 3% versus the same period last year.

At the close of the trading session today, July 12, TNG losses extended for the third straight session as the stock dropped by 0.5% to VND19,800 per share, with nearly 1.5 million shares changing hands.

On the southern bourse, losers outnumbered winners by 233 to 191 at the close, but the VN-Index gained 2.43 points, or 0.21%, to 1,154.2 points, marking its fourth consecutive winning session.

However, trade volume and value edged down 14.8% and 11.6% from the day earlier, with 788 million shares and VND16.7 trillion, respectively. Around 91.6 million shares transacted in block deals contributed VND2.3 trillion to the overall value.

All of the five most actively traded stocks on the southern market were decliners. Lender STB took the lead by liquidity with 32.1 million shares traded, followed by VND, HPG, SSI and NVL.

On the Hanoi Stock Exchange, the HNX-Index lost 0.34 points, or 0.15%, from Tuesday at 228.88 points, with 86 stocks rising and 99 others dipping. There were 101 million shares worth nearly VND1.7 trillion transacted on the northern bourse.

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