Chủ đề: Loss-making beverage maker eyed
-
20-02-2010, 11:18 AM #1Guest
The HCM City Stock Exchange has placed beverage producer Tribeco under control after the company posted losses for the second year in a row, with earnings in 2009 dropping by VND8.2 billion (US$443,243) from the previous year.
Beginning Monday, trading in the firm's shares will be limited to 15 minutes per session.
The company explained that they spent much sweat and money to recover the business after being hit by economic crisis in 2008, such as restructuring the distributing and marketing systems, as well as reinforcing the research to make new products.
The loss was unavoidable following the economic crisis and expensive efforts to restructure distribution systems, Tribeco General Director Huang Ching Liang wrote in the company's annual report, noting that costs related to restructuring and marketing rose by VND21 billion ($1.1 million) in 2009.
Business was improving and the company expected stronger performance in the near future, Liang said.
Tran Anh Dao of the HCM City Stock Exchange said that the exchange based its decision on the company's own financial statements.
"We don't need to wait for audited results because it's pretty hard to turn losses into profits after auditing," said Dao.
Investors should take note of the factors behind a company's losses rather than panic and rush to sell their shares en masse, she added.
Tribeco was alerted to the situation following its losses in 2008, and the company's shares would be de-listed in the losses continued for an additional year.
"The alert and control will be lifted if the firm submits financial statements next year indicating a recovery," Dao said, noting that 17 companies last year were cleared following warnings issued in 2008. Meanwhile, however, Bach Tuyet Cotton Company became the first listed company to be de-listed on the HCM City Stock Exchange due to successive years of losses.
Earlier last week, the exchange issued warnings regarding four other listed firms that posted significant losses in 2009, including Nam Viet Company, BASA , Ben Tre Aquafish and PetroVietnam Transportation.
Seasfood processors and exporters had a particularly difficult year, with losses blamed on a decline in export contracts from tradditional markets like the EU, US and Japan, all of which suffered under the global economic recession. Quality issues also undercut their business performance, with a number of seafood producers banned from further exports due to poor-quality products.View more random threads:
- PVCFC announces 9-month business results
- EIB: Trading result of affiliated institution
- Vinamilk's 2013 gross profit jumps 16 pct
- Vietnam stocks among Asia’s biggest gainers this year: Kim Eng
- DLG takes over Mass Noble Investments Ltd
- VFC: Resolution on the dividend payment for 2011
- REE: Business result in Nov 2009
- An Phat Securities removes foreign ownership limit
- Viet Dragon divests stake in TAC, earns $15m
- Government to sell Vinamilk stake this year
Các Chủ đề tương tự
-
Ceramic maker Viglacera’s profits up 64 per cent
Bởi imported_haituan2589 trong diễn đàn STOCKs TRADING IN HNXTrả lời: 0Bài viết cuối: 14-07-2017, 10:20 AM -
Masan Beverage plans to raise ownership in Vinacafe Bien Hoa to 70%
Bởi imported_hoangbaochau686 trong diễn đàn STOCKs LISTED IN HoSETrả lời: 0Bài viết cuối: 19-10-2016, 02:50 AM -
Masan Beverage to buy into water firm
Bởi thanhtrang trong diễn đàn STOCKs LISTED IN HoSETrả lời: 0Bài viết cuối: 05-11-2015, 11:12 AM -
Xin tài liệu ngành Food & Beverage
Bởi imported_doviethung20140 trong diễn đàn CLB Chứng khoánTrả lời: 0Bài viết cuối: 05-12-2014, 10:43 AM -
Ignoring inactive information, “big fish” still making big investment deals
Bởi truong phuong trong diễn đàn STOCKs TRADING IN HNXTrả lời: 0Bài viết cuối: 08-03-2011, 10:11 AM
Thông qua phân tách dữ liệu Google từ 86 nhà nước, mới đây, một công ty tại Anh đã ban bố bảng xếp hạng kích tấc "cậu nhỏ" của các nước trên thế giới. Kết quả, hầu hết các nước xếp ở nhóm đầu của...
"Chim" của bạn trai Việt thuộc...