ACB and PMC agree on comprehensive cooperation

Two subsidiaries of the Asia Commercial Bank (ACB) will act as financial consultants for the Phu My Bridge BOT Joint Stock Company (PMC) under a comprehensive strategic cooperation agreement was signed in Ho Chi Minh City on Nov. 14.

Under the terms of the agreement, the ACB Securities Company (ACBS) and the ACB Fund Management Company (ACBC) will provide PMC with consultations services regarding financial activities relating to its business and investments, including financial structure, the arrangement of project capital and investment capital management.

PMC is a large-scale investor in transport facilities in Ho Chi Minh City , with charter capital of 745 billion VND. The company is currently implementing a 2.6 trillion VND (153 million USD) project to build Phu My Bridge project and a 1.6 trillion VND (94 million USD) project to improve the road network on the approach to Phu My Bridge.

VNA

>   Domestic banks branching out across nation (15/11/2008)

>   Banks funding steel projects selectively (14/11/2008)

>   Central bank promises flexible monetary policy  (14/11/2008)

>   BIDV to cut loan interest rates (14/11/2008)

>   Demand from importers, speculation keep dollar strong (14/11/2008)

>   Notice of the record date for bond interest payment (14/11/2008)

>   Investors file complaints after gold trading floor reports incorrect fee (14/11/2008)

>   Expanding branches financially burdening banks (14/11/2008)

>   Bidding results of Government bond (13/11/2008)

>   19/11/2008, record date for bond coupon payment TP1A5205 (13/11/2008)