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Vietnam’s Equity Market: Kinh Bac City, Phuc Tien Trade, Vipco

Aug. 12 (Bloomberg) -- Vietnam’s VN Index, the benchmark measure of the Ho Chi Minh City Stock Exchange, decreased 3.2 percent to 448.40, the lowest since Dec. 18. It was the worst performer among indexes in the Asia Pacific region today.

Kinh Bac City Development Share Holding Corp. (KBC VN), a property firm, slid 4.7 percent to 30,200 dong, the lowest since Sep. 28. The company, based in the northern province of Bac Ninh, will start trading about 96.6 million new shares on Aug. 19, it said in a statement on the bourse’s website.

Phuc Tien Trade & Manufacture Joint-Stock Co. (PHT VN), which makes construction equipment, metal roofing and other steel products, slumped 4.7 percent to a record low of 18,100 dong. The Hanoi-based company’s second-quarter net profit fell 48 percent to 1.46 billion dong ($76,000), according to a filing to the exchange.

Vietnam Petroleum Transport Joint-Stock Co. (VIP VN), an oil tanker and barge operator also known as Vipco, declined 4.6 percent to 14,700 dong, the lowest level in more than a year. The Hai Phong-based company’s net income plunged 72 percent to 17.6 billion dong in the first half, according to a statement on the bourse’s website.

To contact the reporter on this story: Diep Ngoc Pham in Hanoi at dpham5@bloomberg.net

To contact the editor responsible for this story: Linus Chua at lchua@bloomberg.net

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