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Vietnam Business Briefs October 26, 2012

* SSI Asset Management Co., Ltd (SSIAM) whose deputy general director is Nguyen Thanh Tung, member of Board of directors fo Ha Long Viglacera. (VHL) has registered to buy 1 million shares from October 29 to November 27. SSIAM now holds 445,300 shares or 4.95 percent stake in the listed firm. * Red River Holding, […]

Kuwait a gateway to Gulf market

Kuwait is considered a potential market for Vietnamese goods as well as a gateway for Vietnamese enterprises to enter the Gulf Cooperation Council (GCC) market, said Vietnam’s trade counsellor in Kuwait. Economic relations between Vietnam and Kuwait are making great strides, but they are still not commensurate with the potentials and the expectations of the two nations, Le Ba Ngoc told the Daily on the sidelines of the Asia Cooperation Dialogue hosted in Kuwait. Kuwait has become an important energy security partner of Vietnam. Kuwait Petroleum Incorporation (KPC) and Vietnam Oil and Gas Group (PVN), along with two Japanese partners...

Vietnam Hi-Tech Agro promotes agricultural achievements

(VEN) – The Investment and Trade Promotion Center (ITPC) in Ho Chi Minh City will host an international exhibition on high-tech agriculture and food processing (Hi-Tech Agro 2012) on October 24-28. ITPC Director Pho Nam Phuong talked about its exhibitions in an interview with Vietnam Economic News’ reporter Phung Long. Why did you decide to organize the Hi-Tech Agro trade fair in HCMC? HCMC was the first city to build an agricultural hi-tech park and was selected as a typical model for rolling out across the country. After 10 years of construction, HCMC’s hi-tech agricultural sector has...

Maybank wants bigger role in Vietnam’s banking industry

Malaysian-based Maybank has acquired a stake in Kim Eng Securities besides its holding of a 20 percent stake in Vietnam’s An Binh Bank in a move to deepen its presence in Vietnam’s financial market. Dato Sri Abdul Wahid Omar, chair and CEO of Maybank, spoke with The Saigon Times Daily in Kuala Lumpur on the banking group’s business vision in Vietnam. Excerpts follow. The Saigon Times Daily: What are your plans in Vietnam for the years to come? Dato Sri Abdul Wahid Omar: We believe that we’d be most effective if we were to have all...

Securities Companies En Mass Cut PVX Margin Support to Zero

Ho Chi Minh City Securities Corporation (HCM) announced to cut PetroVietnam Construction Joint Stock Corporation (PVX) margin support to zero from September 12. While FPT Securities Company (FPTS) said it removed PVX from the margin list from today, Sept 12. Earlier, Tan Viet Securities Incorporation (TVSI) removed PVX from the margin support list from Sept 10. Military Bank Securities announced to cut weigh of PVX in the “Business Cooperation Contract (BCC)” with customers to 40% from previous 40%. In September, BIDV Securities JS Company (BSC)...

FLCS to hike chartered capital to 300b dong

FLC Securities Joint Stock Co (FLCS) on June 30 organized its annual general meeting (AGM) and passed this year’s business plan with revenue of 118 billion dong and after tax profit at 1.14 billion dong . Also at the AGM, shareholders agreed to hike chartered capital from the current 135 billion dong to 300 billion dong and add issuing underwriting operation in its business line. Since early 2012 so far, FLCS has been the single securities company adopting plan to scale up chartered capital to expand business line. Earlier, the market saw some cases of securities companies reducing business lines and lowering chartered capital such as...

June 7: Vietnam Stocks Rise on Fuel Price Cut

Vietnamese stocks rose today as investors jumped in to buy shares on the news that petrol retail prices were cut up to VND800 a litter. The benchmark VN Index added 8.02 points or 1.88% to 434.41. Volume fell 22.08% to 71.3 million shares worth of VND1.14 trillion, however, the cash market volume rose sharply today. Put-through trading contributed 7.85 million shares worth VND245.77 billion. Of note, we saw large volume deal in the put through today of 3.4 million STB shares changed hands at VND25,000 each. The market breadth was broadly positive on the primary bourse where 235 stocks advanced, 40 declined, 33 closed unchanged. The VN...

Q1/2012: SSI Tops Brokers on HOSE, HSC Leads on HNX

Saigon Securities Inc. (SSI) continued to top brokers on the Hochiminh Stock Exchange(HOSE), Vietnam’s primary stock exchange, in the first quarter of this year with 11.74% of the brokerage market share. This is the sixth consecutive quarter the broker house has maintained its No 1 position in the list, the HOSE’s data showed, however, its market share in the past quarter was lower than its 12.25% in Q4/2011. Ho Chi Minh City Securities ( HSC ) remained the second biggest broker with 1 1% of the market share on the bourse in Jan-March higher than its 8.5% market shares in Q...

Why are Vietnamese nationals attached so much to Hoang Sa (Paracel) and Truong Sa (Spartly) Islands?

Generations of French school children grew up learning never to forget Alsace-Lorraine, territory that France lost to Prussia in the war of 1871. Chinese students launched a protest movement in 1919 when the Treaty of Versailles gave the Shandong Peninsula – the birthplace of Confucius – to Japan. Why are Vietnamese nationals attached so much […]

A busy year for M&A activities

2011 marked a busy year for corporate M&A (mergers and acquisitions) activities with a total value estimated at US$2.67 billion, 1.5 times higher than the previous year. Unlike previous years, foreign-related M&A deals, mostly in the fields of consumer products, finance and real estate, stole the spotlight in 2011, accounting for 81.3 percent of the total amount. Some M&A deals also emerged as a result of the withdrawal of capital by investment funds and the restructuring of domestic groups. The three biggest M&A deals in 2011 were Charoen Pokphand Group China’s buying 70.8 percent of the share of CP Vietnam Corporation, Russian mobile phone service...