TMC share code to move trading floor

VNStockNews.com - The recent shareholders’ meeting of Thu Duc Import Export Trading Joint Stock Co (coded TMC) passed the plan of moving from the Ho Chi Minh Stock Exchange (HOSE) to Hanoi Securities Trading Centre (HASTC).

Pursuant to the regulation of State Securities Commission (SSC), STC listed firms that have chartered capital of less than 80 billion dong must have a plan of capital increase or moving to HASTC.

According to the management board of TMC, the increasing of the current chartered capital of 40 billion dong to the ruled level in short time will be high pressure on the corporate and hard to succeed.

The company’s chair Ma Duc Tu said that by 2010 when the world’s economy is more comfortable, his firm will ask approval to raise capital and could return the southern floor.

In 2009, TMC plans to attain total revenue of 1.1 trillion dong, down 18% year-on-year and an after-tax profit of 14.85 billion dong, lower 28% than 2008’s.

In the first two months of this year, TMC posted more than 160 billion dong in revenue and 3.76 billion dong in after-tax profit.