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Saturday, February 4, 2023

Vingroup to set up hi-tech medical firm

The Saigon Times

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HCMC – Vingroup JSC, which trades its VIC shares on the Hochiminh Stock Exchange, has passed a plan to contribute capital to establish VinMedtech Hi-tech Medical JSC.

VinMedtech, headquartered in Viet Hung Ward in Hanoi City’s Long Bien District, has chartered capital of VDN300 billion, 99% of which is contributed by Vingroup, the local media reported.

As of September 30, Vingroup had 104 subsidiaries and three affiliates active in various fields such as real estate, tourism, education and automobile production. VinMedtech will become Vingroup’s 105th subsidiary.

Between January and September, VIC posted VND88.2 trillion in net revenue, down 4.7% year-on-year, and VND1.6 trillion in after-tax profit.

Closing the trading session today, December 15, VIC lost 0.3%, extending its falling streak for the third straight session.

On the HCMC bourse, many bluechips gained ground, driving the VN-Index up 4.89 points, or 0.47%, from the session earlier, at 1,055.32, with 228 winners and 181 losers. Over 731 million shares worth VND12.3 trillion changed hands, down 8% in volume and 10% in value against the previous session.

In the VN30 basket, 19 stocks were in positive territory, while eight others closed down.

Many bank stocks such as VCB, BID, CTG, TCB and MBB made strong gains, with VPB shooting up to its daily upper limit and taking the lead by liquidity on bourse with a matching volume of 66.7 million shares.

The HNX-Index of the Hanoi exchange slid 0.25 points, or 0.12%, from the session earlier, at 212.95, with 79 advancers and 83 decliners.

Securities firm SHS finished the day up and was the most actively traded stock with 17.6 million shares changing hands.

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