Tan Tao expects 2009 net income to be little changed

Tan Tao Investment Industry Corp.(HOSE:ITA), a real estate developer that also operates industrial parks, expects profit to be little changed this year as the global economic slowdown reduces demand for its services.

Net income may rise to VND300 billion (US$16.9 million) from VND295 billion in 2008, the Ho Chi Minh City-based company said on its website.

Tan Tao’s profits fell 22 percent last year as provisions for investment losses surged, it said on January 21. Provisions for losses on stock investments increased to almost VND40 billion, from VND811 million in 2007. Revenue rose to VND1.1 trillion last year, from VND956.4 billion, according to the statement.

thanh nien, bloomberg

>   HDBank plans to issue shares, bonds to raise capital (09/04/2009)

>   DPC: Transaction of inside shareholder (Mr. Do Van Loc) (09/04/2009)

>   LBM: Adjustment of plan of offering shares (09/04/2009)

>   LBM: Transaction of inside shareholder (09/04/2009)

>   DNP: Transaction of inside shareholder (Mr. Ha Huy Phuong) (09/04/2009)

>   DCL: Transaction of affiliated person (Ms. Le Thi Thu Nga) (09/04/2009)

>   AGF: Dividend Payment In Cash (09/04/2009)

>   UNICO to buy back stock (09/04/2009)

>   NBB: Trading Result of Major Shareholder (09/04/2009)

>   HLA: Trading Result of Major Shareholder (09/04/2009)