Hai Phat Investment Joint Stock Company (code: HPX), chaired by Mr. Do Quy Hai, has announced that it has purchased the entire 350 billion VND of the HPXH2224001 bond issue maturing on January 12, 2024. As a result, HPX has reduced its outstanding bond debt to zero.

Previously, HPX also announced that it had paid the interest for the fourth installment of the HPXH2124009 bond issue, amounting to over 14.3 billion VND.

The HPXH2124009 bond was issued on November 25, 2021, with a 3-year term, an interest rate of 10% per annum, and collateral consisting of HPX shares owned by a third party.

In the first half of 2023, Hai Phat incurred late payments on interest on three bonds, including HPXH2123011 (face value of VND 450 billion), HPX122018 (face value of VND 300 billion), and HPXH2125007 (face value of VND 500 billion).

Additionally, in October 2023, HPX sent a letter to the Hanoi Stock Exchange (HNX) requesting a one-year extension for bonds with code HPXH2123008, with a total issuance value of VND 250 billion. The maturity date for these bonds is expected to be extended to October 28, 2024.

In terms of business performance, for the first nine months of 2023, HPX achieved VND 1,197 billion in revenue, a decrease of 8.5% compared to the same period; after-tax profit reached VND 61.5 billion, a decrease of 50.1% compared to the same period in 2022.

According to the plan, in 2023, HPX aims for revenue of 2,500 billion VND, a minimum profit of 120 billion VND, and no dividend payment.

On the market, HPX shares are fluctuating around 5,200 VND/share. At this price, HPX shares have decreased fourfold compared to the 20,000 VND/share level in November 2022.

With over 304 million shares outstanding, HPX's market capitalization has decreased by nearly 4,500 billion VND in just over a year.

At the close of trading on January 9th, HPX shares reached 5,460 VND/share.

Business news

The stock market also has several other important events for companies listed on the exchange.

* FLC: According to a decision dated December 29, 2023, the Hanoi City Tax Department will enforce administrative tax collection by deducting money from the account of FLC Group Joint Stock Company. The total amount of tax to be collected is approximately 90 billion VND.

* TCR: Taicera Ceramic Industry Joint Stock Company has decided to sell its entire 51% stake in Taicera Development Company Limited to Saxon International Co Ltd - a subsidiary specializing in real estate business.

* APF: Quang Ngai Agricultural and Foodstuff Joint Stock Company plans to pay an interim cash dividend for the first quarter of 2023 at a rate of 20% (2,000 VND/share). The ex-dividend date is January 24th, and the expected payment date is February 23rd, 2024.

* S4A: In 2023, Se San 4A Hydropower Joint Stock Company achieved VND 286 billion in revenue, 7% lower than the same period last year; after-tax profit was VND 137 billion, a decrease of 21%. Compared to the plan approved at the 2023 Annual General Meeting, S4A nearly completed its revenue target at 97% and exceeded its after-tax profit target by 20%.

* LGM: The shareholder structure at LGM (Vietnam Footwear and Garment Export Joint Stock Company) has changed, with Ms. Bui Thi Thuy Chung becoming a major shareholder after purchasing nearly 1.1 million shares, while Giditex has left after selling all of its nearly 1.9 million shares.

* PPC : Pha Lai Thermal Power Joint Stock Company announced it will pay over VND 601 billion as an interim dividend for the second quarter of 2023 at a rate of 18.75%. The last registration date is January 22, 2024, and the expected payment date is June 28, 2024.

* MH3: Binh Long Rubber Industrial Park Joint Stock Company announced it will soon disburse VND 16.8 billion as an interim cash dividend for the first quarter of 2023 at a rate of 7%. The last registration date is January 30, 2024, and the payment date is April 10, 2024.

* CLC: Cat Loi Joint Stock Company announces the record date for the first interim dividend payment of 2023 in cash at a rate of 15%. The ex-dividend date is January 29, 2023, and the payment is expected to be made on February 28, 2024.

* CII: Mr. Nguyen Van Thanh, Deputy General Director of Ho Chi Minh City Infrastructure Investment Joint Stock Company, registered to sell 100,000 CII shares through order matching. The transaction is expected to take place from January 12th to February 7th.

VN-Index

At the close of trading on January 9th, the VN-Index fell 1.6 points (-0.14%) to 1,158.59 points, the HNX-Index fell 0.83 points (-0.35%) to 232.5 points, and the UpCOM-Index fell 0.06 points (-0.07%) to 87.72 points.

According to SHS Securities Company, the positive trend of the VN-Index is still being maintained after breaking through the 1,150-point resistance level. However, there is a possibility that the market will experience a corrective fluctuation to retest this support level.

In the medium term, the market is still forming a consolidation zone with increasingly tighter fluctuations, and a higher consolidation area of ​​1,150-1,250 points can be expected.

Yuanta Securities Vietnam predicts that the market may soon resume its upward trend, and the VN-Index could rise to the resistance level of 1,165 points. Simultaneously, the correction phase may quickly end, and the market will soon return to an upward trend, heading towards 1,185 points in the next few sessions.

Wife and brother of Hai Phat Chairman fined over 700 million VND for illegally selling millions of HPX shares.