May 30, 2012 / 2:12 AM / 5 years ago

PRESS DIGEST - Vietnam newspapers - May 30

HANOI, May 30 (Reuters) - These are some of the leading stories in the official Vietnamese press on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.

FINANCIAL NEWS:

THOI BAO KINH TE VIETNAM

- Ocean Group Co said its consolidated net profit in the first quarter dropped 33 percent from a year ago to 38.6 billion dong ($1.85 million).

NHAN DAN

- Vietnam’s top mining group Vinacomin said it planned to raise 3 trillion dong ($144 million) this year through a corporate bond on domestic markets, with terms of up to seven years and a floating coupon. The group will use proceeds for investment and production projects.

DAU TU

- Ho Chi Minh City-based ABBank said it would raise its registered capital to 5 trillion dong ($240 million) by the year end, using its convertible bonds and also via a bonus share issue.

ECONOMIC AND GENERAL NEWS:

NHAN DAN

- A former deputy chief executive of Hanoi-based lender BIDV has been sentenced to 15 years in jail for abusing power, based on the verdict of the Hanoi People’s Court.

HANOI MOI

- The Agriculture Ministry said it would spend 4 trillion dong ($192 million) from state budget from this July to support farmers in rice plantation, part of a national campaign to save at least 3.8 million hectares (9.4 million acres) of rice production.

THOI BAO KINH TE VIETNAM

- Rice exporters have signed deals to ship 300,000 tonnes in May, bringing the accumulated sale volume since the start of 2012 to 4.7 million tonnes, industry reports showed.

- Vietnam could fall short of more than 100,000 tonnes of sugar between now and the start of the 2012/13 sugar crushing season as demand is estimated at nearly 600,000 tonnes and supply could only reach 483,000 tonnes, the agriculture ministry said. ($1 = 20850 Vietnam dong) (Reporting by Hanoi Newsroom; Editing by Anand Basu)

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