The HoSE Takes a Tough Stance on Blue-Chip Stocks

This week, 21 enterprises announced the closure of rights to pay dividends, with 20 companies paying cash dividends and 1 enterprise paying combined dividends.

Cut margin , warning

Ho Chi Minh City Stock Exchange (HoSE) has decided to include SGR shares of Saigon Real Estate Joint Stock Company (Saigonres, stock code: SGR) in the list of securities that are not eligible for margin trading, as the company’s post-tax profit on the consolidated financial statement for the first half of 2024 is negative.

Currently, SSI Securities Corporation is providing a margin of 20% for SGR shares. Therefore, in the next trading session on September 4, the margin ratio for SGR shares at SSI Securities Corporation must be reduced to 0%.

Previously, Moore AISC Audit and IT Services LLC audited the semi-annual financial statements for 2024 of Saigonres. After the audit, Saigonres unexpectedly turned from a profit of VND 2.39 billion in self-prepared reports to a loss of VND 23.39 billion.

Explaining the shift from profit to loss after the audit, Saigonres stated that it mainly adjusted for reduced revenue from real estate transfers. This revenue will be transferred to the next period for recognition when the conditions for recognition are met, and at the same time, provisions for receivables must be established as recommended by the auditors.

HoSE also decided to maintain the warning status for the shares of Binh Duong Construction and Transport Joint Stock Company (stock code: BCE). The reason is that, as of June 30, BCE has accumulated losses of over VND 56.6 billion. In the first half of 2024, BCE recorded revenue of over VND 27 billion (down nearly 24% over the same period), and a post-tax loss of VND 16.5 billion.

HoSE has decided to maintain the warning status for TDC shares of Kinh Doanh va Phat Trien Binh Duong Joint Stock Company. In the 2024 semi-annual financial statement, A&C Audit and Consulting LLC emphasized that TDC has accumulated losses of nearly VND 318 billion and short-term debt exceeding current assets by VND 1,097 billion. These conditions indicate the existence of a material uncertainty that may cast significant doubt on TDC’s ability to continue as a going concern.

Explaining this issue, TDC stated that Becamex IDC Joint Stock Company (stock code: BCM) and other companies within Becamex IDC committed to providing financial support to TDC by guaranteeing its debts, and not requiring the company to repay debts for goods and services until it has the capacity to do so. Therefore, TDC’s financial statements are still prepared based on the assumption of continuous operation.

In addition, HoSE decided to maintain the warning status for the shares of Hoang Anh Gia Lai Joint Stock Company (stock code: HAG), Thu Duc House Development Joint Stock Company (Thuduc House, stock code: TDH), An Phat Holdings Joint Stock Company (stock code: APH), Petrolimex Import Export Joint Stock Company (stock code: PIT), Post and Telecommunications Joint Stock Company (stock code: ICT), and SEAREFICO Joint Stock Company (stock code: SRF).

HoSE also maintained the warning and control status for the shares of Dai Thien Loc Joint Stock Company (stock code: DTL) due to accumulated losses of over VND 58 billion. An Giang Import Export Joint Stock Company (Angimex, stock code: AGM) will be placed under control from September 10 due to accumulated losses exceeding the paid-up charter capital.

Shareholders exit Phuong Nam Bookstore

Just in two sessions on August 20 and August 27, two institutional shareholders reported selling more than 48% of the shares of Phuong Nam Culture Joint Stock Company (stock code: PNC) – the owner of Phuong Nam bookstore chain.

Specifically, Thanh Vinh Business Development Joint Stock Company sold more than 2.5 million PNC shares, equivalent to 23.29% of charter capital, on August 27. After the transaction, Thanh Vinh no longer holds PNC shares.

Similarly, Truong Phat Business Development Joint Stock Company sold off nearly 2.7 million PNC shares on August 20, reducing its ownership from 24.84% of charter capital to 0%.

Mr. Nguyen Quang Bao – Hanoi Branch Director and Deputy General Director of Vietcap Securities Joint Stock Company (stock code: VCI) – reported selling only 1.5 million VCI shares out of the registered 2.8 million shares.

The transaction was made from July 30 to August 28. It is estimated that Mr. Bao earned nearly VND 69 billion from this deal. After the transaction, Mr. Bao reduced his ownership in Vietcap to 1.68 million shares. Explaining the reason for not completing the transaction, Mr. Bao said that it was due to unfavorable market conditions.

Ms. Huynh Thi Mai Dung registered to sell 1 million shares of Cotana Group Joint Stock Company (stock code: CSC) from August 29 to September 28, to reduce ownership to over 3.68 million shares, equivalent to 9.84% of charter capital. It is estimated that Ms. Dung could earn nearly VND 27 billion from this transaction.

Cat Lai Port Joint Stock Company (stock code: CLL) announced that September 4 is the record date for the list of shareholders receiving 2023 dividends in cash at a rate of 26%, meaning 1 share will receive VND 2,600. With 34 million circulating shares, Cat Lai Port is expected to spend over VND 88 billion on dividend payment.

Vinacafé Bien Hoa Joint Stock Company (stock code: VCF) announced that September 9 is the record date for the implementation of the 2023 cash dividend payment with a rate of 250%. With nearly 26.6 million circulating shares, Vinacafé Bien Hoa will spend nearly VND 650 billion on dividend payment. With the ownership of more than 26.3 million VCF shares, Masan Beverage One Member Limited Liability Company will receive more than VND 642 billion in dividends.