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Water project to help Vietnam’s power, steel industries

A $142 million water project in Vung Ang Economic Zone is expected to supply industrial water for the Vung Ang I thermal power plant this month and ease water shortages for the rest of the economic zone. Dang Van Thanh, deputy director of Vung Ang Economic Zone (VAEZ) Management Authority, said that this water project was racing toward on a trial run on November 15, 2012. “Our water project with the designed capital of one million cubic metres of water per day would ensure stable water supplies for VAEZ as well as push key projects ahead,” Tran Dinh Dung, consultant for...

Vietnam Project’S Bad Fashion Statement

The runaway foreign investors of Lifepro Vietnam’s Luxfashion textile and garment complex, leaving $150 million in debts behind, have underscored the ugly side of foreign-invested projects that go wrong. The $300 million European clothing complex, located in northern Ninh Binh province’s Gian Khau Industrial Park, has been totally locked down since early September, just six months after official becoming operational. In late August, the local authorities were reported by a Vietnamese representative of Lifepro Vietnam that all foreign managerial staff of Luxfashion complex...

Vietnam Business Briefs Sept 22, 2012

Dong Nai receives $1bn FDI The southern province of Đong Nai has attracted more than US$1 billion from foreign direct investment (FDI) despite the economic downturn, said Bo Ngoc Thu, director of the province’s planning and investment department. The figures places the southern province third nationally in attracting FDI after Binh Dương Province, also in the South, and the northern city of Hai Phong. In the past eight months, Đong Nai has granted investment licenses to 34 enterprises with registered capital of about $600 million. Among the new projects, two are in high-tech – Belmont Manufacturing specializing in health...

Vietnam New Regulation On Securities Transactions

Amid the stock market slump, the Vietnamese Government has issued Decree 58/2012/ND-CP ("Decree 58") on securities to replace Decree 14/2007/ND-CP of 19 January 2007 Amid the stock market slump, the Vietnamese Government has issued Decree 58/2012/ND-CP ("Decree 58") on securities to replace Decree 14/2007/ND-CP of 19 January 2007, Decree 84/2010/ND-CP of 2 August 2010, and Decree 01/2010/ND-CP of 4 January 2010. The three repealed Decrees are collectively referred to as the "Old Decrees" in this article. Decree 58 takes effect on 15 September 2012. Among the highlighted changes are the lifting of certain restrictions on private placement, introduction of a legal framework and approval requirements...

Business Briefs August 13, 2012

* Funderburk Lighthouse Limited, major shareholder of PetroVietnam Insurance Joint Stock Corporation (PVI) bought 182,754 out of 2 mil shares registered to buy from May 21- July 20, increasing its ownership to 22,889,954 shares or 11.16 percent stake. * Lilama 45.3 Join Stock Company (L43) announced to choose the International Finance Corporation (IFC) to audit its financial statement in H1/2012. The firm said in a filing sent to HNX’s website on August 10. * Phu Thinh Metallurgy Joint Stock Company on August 8, 2012 filed an application to list its all 21.6 million shares on the Hochiminh Stock Exchange (STC) with Ocean Securities JS Co. as the advising firm. With...

CFTC’s Staff, ‘Criminal Club’, Volcker: Compliance

By Carla Main - Sat Feb 18 17:49:22 GMT 2012 (Corrects to remove pay reference in third paragraph of Citigroup item in column published Feb. 15.) The U.S. Commodity Futures Trading Commission says it will shift enforcement staff to meet Dodd- Frank Act demands in 2012, after failing last year to adequately oversee CME Group Inc. (CME), the world’s largest futures exchange. The CFTC didn’t meet its own goals to review CME, the Chicago Board of Trade, and ICE Futures U.S. in the year ending Sept. 30, 2011 for compliance with the agency’s core principles for exchange-traded markets, according to an agency report on...

Business Briefs November 4

* The southern bourse-listed Bourbon Tay Ninh Sugar and Sugarcane Joint Stock Co (coded SBT) announced that November 11 would be the ex-dividend session for purposes of advancing first round dividend for its existing shareholders and holding the extraordinary shareholders meeting. * Vietnam Securities Depository Centre (VSD) has lately announced that Vinafreight International Freight Forwarders Joint Stock Co (coded VNF) would advance first round dividend in cash. * The two northern bourse-listed companies of Vinaconex Trading and Manpower Joint Stock Co (coded VCM) and Construction Joint Stock Co No 9 (VC9) announced to close the shareholders list for...

Business Briefs November 3

* In the latest extraordinary shareholders meeting in 2011 held by Cuu Long Pharmaceutical Joint Stock Co (coded DCL), the shareholders have approved for paying 2010 dividend in cash at 20 percent and allocate bonus shares. * Thai Binh Cement Joint Stock Co (coded TBX) announced to close the shareholders list for paying 2011 dividend-the first round on December 5, 2011. * Vang Danh Coal Joint Stock Co (coded TVD); an affiliate of Vietnam National Coal and Minerals Industries Group (Vinacomin) has recently passed a plan to offer more shares to hike its chartered capital from nearly 152.808 billion dong to 250 billion dong. * The management...

Business Briefs November 1

* Vietnam Securities Depository Centre (VSD) has lately announced about paying 2010 dividend for the second phase in shares of Sam Cuong Electrical and Telecommunication Materials Joint Stock Co (coded SMT). * Hochiminh Stock Exchange (STC) has lately announced to officially list the additional shares that were issued by Power Engineering Consulting Joint Stock Co (coded TV1). * The management board of Development Investment Construction Joint Stock Corp (coded DIG) has lately approved for purchasing additional shares as fund shares. * The southern bourse-listed Ninh Hoa Sugar Joint Stock Co (coded NHS) announced that November 10 would be the registration...

Business Briefs October 13

* Vietnam Securities Depository Centre (VSD) has recently announced about dividend payout for the second round in the fiscal year 2011 of UPCoM-listed A Dong Paint Joint Stock Co (ADP). * Gia Lai Culture and Tourism Joint Stock Co (coded CTC) announced to close the shareholders list on November 2, 2011 for the purposes of paying 2010 dividend-the second phase in shares and allocating bonus shares to the existing shareholders in 2010. * Hochiminh Stock Exchange (STC) on October 12 announced the listing and trading of additional shares of Ma San Group Joint Stock Co (MSN). * Hochiminh Stock Exchange (STC) has recently announced...