REE increases stake in coal miner

Refrigeration & Electrical Engineering (REE) has acquired 30,000 more shares of Vinacomin-Nui Beo Coal Co (NBC), lifting its stake in the mining enterprise to 5.14 per cent and making REE a major shareholder in NBC under the law, effective August 21.

REE posted a profit of VND7.2 billion (US$342,800) in the first six months of this year, 1.78 per cent higher than in its previous report. Meanwhile, NBC estimated earnings of VND944 billion ($44.9 million) during the first seven months of the year and projected earnings of VND203 billion ($9.6 million) this month. Both shares rose during yesterday's session

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