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CSG: Business situation of the company
Sai Gon Cable Corporation has announced the following information:
* On 26/08/2009, the company was one of 200 businesses awarded the prize of “Gold Star of Viet Land” by the Association of Young enterprises of Vietnam.
* On 29/06/2009, the company was awarded the certificate and golden cup for “high-quality, prestigious product and brand name for 2009”.
* Expected business result in August 2009 and dividend payment:
* Sales in August: more than VND40 billion
* Profit in August: more than VND5 billion
* In August, the company signed many contracts worth more than VND30 billion about providing copper conductor products, telecommunication cable and electric wire cable to partners.
* Moreover, increase of copper price from USD3,000/ton to USD6,500/ton has brought advantages to the company because it has already imported and stored copper material for the last months this year (current inventory costs about VND100 billion).
* The company has used the amount of VND60 billion for short-term securities investment. In the period of May to July, VN Index fluctuated from 350 to 450 points, the company disbursed VND30 billion to high-liquidated blue chip shares.
* The BOD has passed the plan of advanced dividend payment for the first time of 2009 with ratio of 4%/par value. Payment time is expected in September 2009.
* In order to strengthen liquidation of CSG stock, the company started buying 591,400 its shares back for treasury stock on 03/08/2009.
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