Sugar firm remains in VN30 Index

Thursday, Jan 31, 2019 08:53

A sugar plant belonging to Thanh Thanh Cong-Bien Hoa in Tay Ninh Province. — Photo courtesy of TTC

The HCM Stock Exchange has announced the first update of the year to the blue-chip VN30 Index, a basket of 30 stocks with the largest market capitalisation and highest liquidity.

The basket, which is reviewed every six months, now includes four new stocks, Eximbank (EIB), Techcombank (TCB), HDBank (HDB) and VinHomes (VHM), in place of Binh Minh Plastic (BMP), Hoa Sen Group (HSG), Kido Group (KDC), and Petrolimex (PLX).

Thanh Thanh Cong-Bien Hoa JSC (SBT) retains its place, meeting all the stringent requirements related to capitalisation, liquidity, the free float rate, and share turnover.

The sugar market has been recovering globally.

Experts have said 2019 could be the warmest year on record resulting in a reduction in sugar supply in sugar producing countries. Therefore, sugar prices would continue to recover, they said.

SBT and Orient Commercial Joint Stock Bank have signed an agreement under which the latter will offer loans at preferential interest rates to farmers who supply sugarcane to the company.

TTC has been providing loans to nearly 13,000 farmers in areas where it has plants, and the outstanding loans now total VND1 trillion (US$43.17 million). — VNS

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