Securities company chairman resigns

Funan Securities Joint Stock Company (PNS) has just announced that Ms. Duong Thi Minh Thao has submitted a resignation letter from the position of Chairwoman of the Board of Directors, due to personal reasons. Ms. Thao was appointed Chairwoman of the Board of Directors from 2019-2024 on November 28, 2019.

On October 23, Funan's first extraordinary general meeting of shareholders in 2023 is scheduled to take place online, to approve the dismissal and election of additional members of the Board of Directors.

In addition to Ms. Thao, the list of dismissals also includes Mr. Donato Anthony Michael and Boon Xin Nan, Tyrone. At the same time, the congress elected Ms. Do Thi Anh Minh to the Board of Directors.

Regarding business results, in the first 6 months of the year, Funan's after-tax profit was more than 30 billion VND, while in the same period last year, it lost nearly 60 billion.

Recently, many securities companies have had changes in senior personnel. Hoa Binh Securities Corporation (HBS) has just announced the resignation of Mr. Trinh Thanh Giang, Chairman of the Board of Directors.

Mr. Giang said that due to personal reasons, he did not have enough time to perform well the role of Chairman of the Board of Directors. Mr. Giang will be Chairman of the Board of Directors of Hoa Binh Securities for the 2023-2028 term, starting from October 2022.

Tri Viet Securities Joint Stock Company (TVB) announced the dismissal of Ms. Tran Thi Rong from the position of General Director and legal representative from August 8. Before leaving TVB, Ms. Rong sold all 37,500 TVB shares on July 19.

VNDirect Securities Corporation (VND) announced the dismissal of Mr. Nguyen Vu Long from the position of Chairman of the Board of Directors. Mr. Long returns to the position of General Director.

Meanwhile, Ms. Pham Minh Huong, the “female general” of VNDirect, has resigned from her position as General Director of the company and returned to the position of Chairwoman of the Board of Directors. The decision takes effect from September 18.

Listed company news

The stock market has a number of other important events of listed companies.

* PNJ : On October 20, Phu Nhuan Jewelry Joint Stock Company closed the transaction without the right to receive the third dividend of 2022. The last registration date is October 23. Dividends will be paid in cash at a rate of 8%, payment starting from October 27.

* DGW : October 16 is the ex-dividend date for 2022 dividends of Digital World JSC, the last registration date is October 17. Dividends will be paid in cash at a rate of 10%, payment starting from October 25.

* VCA : Vicasa VNSteel Steel JSC announced net revenue of VND 390 billion in the third quarter, with a loss after tax of VND 2.7 billion. Accumulated for the first 9 months of 2023, net revenue reached VND 1,254.3 billion, with a profit of VND 3.5 billion.

* GGG : Giai Phong Auto Corporation announced its financial statements for the third quarter of 2023 with a net loss of nearly VND 4 billion. In the first 9 months, GGG achieved net revenue of nearly VND 754 million and a gross loss of VND 2.5 billion.

* SBT : Thanh Thanh Cong - Bien Hoa Joint Stock Company announced documents for the 2022 - 2023 Annual General Meeting of Shareholders scheduled to take place on the afternoon of October 26. SBT plans consolidated net revenue of VND 20,622 billion. Pre-tax profit of VND 850 billion.

Transaction information

* BCG : Ms. Nguyen Xuan Lan, wife of Mr. Nguyen Thanh Hung, Vice Chairman of the Board of Directors of Bamboo Capital JSC, sold 80,000 shares out of a total of 2 million units registered for sale from September 7 to October 6, using the order matching method.

* PSI : SMBC Nikko Securities, a major shareholder of Petroleum Securities JSC, sold all of its more than 8.91 million shares, or 14.9%, on October 6.

* DXG : The group of major shareholders managed by Dragon Capital at Dat Xanh Group Corporation (DXG – HOSE) sold 530,000 shares on October 5. This group still holds more than 67.07 million shares, accounting for 10.99%.

* QNS : Mr. Vo Thanh Dang, Vice Chairman of the Board of Directors of Quang Ngai Sugar Joint Stock Company, only successfully purchased 295,000 shares out of a total of 1 million registered units during the period from September 8 to October 6, due to unsuitable market conditions.

* HDB : HD Securities Corporation failed to purchase 3 million shares of Ho Chi Minh City Development Joint Stock Commercial Bank from September 7 to October 6 due to unsuitable conditions.

VN-Index

At the end of the session on October 10, VN-Index increased by 6.33 points (+0.56%), to 1,143.69 points. Total trading volume reached more than 671.7 million units, worth VND 15,347.2 billion.

HNX-Index increased 0.61 points (+0.26%), to 234.17 points. Total matched volume reached more than 96.7 million units, worth VND1,800.9 billion.

UpCoM-Index increased by 0.56 points (+0.64%), to 87.45 points. Total matched volume reached more than 44.3 million units, worth 639.8 billion VND.

Market commentary, SHS Securities believes that the market continues to recover after forming a correction bottom. This is the third consecutive session that VN-Index has increased points.

Due to the recent deep correction, this recovery may be quite strong, even though it is only technical. The index is currently approaching the resistance zone at 1,150 points. If it can overcome this, the next milestone will be around 1,170 points.

According to Vietnam Construction Securities (CSI), liquidity has not yet exploded strongly. The three increasing sessions all had volume below the 20-session average. Therefore, the upward momentum in the past sessions has not been really strong.

VN-Index has tested the expected resistance level of 1,145-1,150 points but has not yet conquered it. In addition, the narrowing of the increase at the end of the session as well as the rise of defensive stocks, the electricity group, are showing signs of a slowdown in the market.

The uptrend has not been confirmed yet. CSI continues to maintain a cautious stance, patiently waiting for the support level of 1,081-1,096 points.

The Chairman mortgaged 5 million shares to borrow capital for the company . The Chairman of Corporation 36 mortgaged 5 million shares to borrow capital for the company. Due to difficulties in capital sources, many other leaders also lent the company hundreds of billions of dong.

Source