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VND1.5Tln Government Bonds Are Sold Via Auctions Last Week: BVSC

VND1.5 trillion worth of government bonds were sold out of VND4 trillion auctioned volume in the previous week, the local newswire reported, citing data from BaoViet Securities Company (BVSC). The State Treasury of Vietnam sold out VND1 trillion 2-year government debts at fixing of 9.5%, down 0.2% from the previous auction. The bid-to-cover ratio was 4.7. The Vietnam Development Bank (VDB) also managed to sell VND400 2-year bonds at 10.5% and VND100 3-year debts at 10.6%. Meanwhile, the Vietnam Bank for Social Policy (VBSP) failed to sell any bonds in its auction. The bid-to-cover ratio...

Vietnam Business Briefs November 12, 2012

* Hoa Binh Rubber Company (HRC) has announced November 20 as the ex-dividend date to advance 2012 first round dividend in cash for share-holders at 15 percent. * Asia Commercial Bank has issued gold mobilization certificates with terms of four, five and six months and interest rates from 0.8 percent to 1.8 percent per annum. * Ba Ria-Vung Tau House Development Company (HDC) has launched the sale of 20 villas of Doi Ngoc Tuoc II project. * Petroleum Technical Services Corporation (PVS) obtained VND883 billion in after- tax profit as of the end of September, a 26 percent year-on-year increase. * Vietnam...

Vietnam Treasury & VBSP Sells VND3.19Tln Government Bonds Last Week; Yields Down

The State Treasury of Vietnam and the Vietnam Bank for Social Policies (VBSP) sold VND3.19 trillion worth of government bonds in the previous week, according to the latest weekly report of BaoViet Securities Company (BVSC). In details, the State Treasury sold VND2.94 trillion government debts out of VND3 trillion auctioned bonds with a bid-to-cover ratio of over 3.3. Of the total, the State Treasury issued VND2 trillion 2-year and VND940 billion 3-year debts at 9.7% and 9.85%, down 0.1% and 0.15% from the previous auction, respectively. Meanwhile, the VBSP sold VND250 billion government-backed bonds out of VND1.5 trillion...

Vietnam Implements 18 Institutional or Regulatory Reforms in a Year

Vietnam has implemented a total of 18 institutional or regulatory reforms, in 8 of 10 areas of business regulation measured by the annual Doing Business report over the past eight years. Doing Business 2013: Smarter Regulations for Small and Medium-sized Enterprises, released recently by the International Finance Corporation (IFC) and the World Bank (WB), shows […]

Hanoi to tighten immigration rules

VietNamNet Bridge – The updated draft law of capital city said that Hanoi may restrict immigration into the city in the near future. The government said tightening immigration rules was not the best way but could prove necessary now. Minister of Justice Ha Hung Cuong said Hanoi is having to bear huge pressure from fast […]

Phu Quoc casino needs a raise

CUU LONG DELTA (VNS)— Authorities in Kien Giang province are continuing to seek developers for a planned casino on Phu Quoc Island. A dozen or so foreign investors have come, studied the conditions for the project's development and operations, and left. Since the project plan was revealed in 2007, 11 investors have visited Phu Quoc Island for registering investment applications or providing investment consultancy to casino investors, officials of the Kien Giang Department of Planning and Investment told the media after a meeting between the Kien Giang People's Committee and relevant Government agencies last Friday. Eight...

Gloomy Vietnam Stock Market Prompts Listed Businesses To Hurry Away

Not only small and unprofitable businesses, but big and healthy enterprises have also run away from the stock market, which is considered an effective long term capital mobilization channel. The strange moves by the big guys In late October 8, 2012, the HCM City Stock Exchange HOSE released a notice about the decisions by Godaco Seafood shareholders’ meeting on the voluntary delisting from the bourse. The shareholders’ meeting approved the plan on delisting all the shares now listed at HOSE and authorized the board of directors to buy back all the shares from small shareholders, at 50,000 dong per share. Godaco’s shares were...

BIDV yet to finalize procedures for listing on stock exchange

Hochiminh Stock Exchange (HoSE) approved Bank for Investment and Development of Vietnam (Bidv)’s dossier to list 2.3 billion shares on the southern bourse. However, the bank has not finalized procedures for official listing yet. Earlier, on May 22, the State Bank of Vietnam (SBV) approved Bidv’s share listing on the southern bourse. Bidv also completed the procedure for registering to become a public company with the State Securities Commission of Vietnam (SSC) and closed the list of shareholders on May 22 to prepare for the listing. According to the list, the bank has more than 17,000 shareholders. On July 31, Vietnam Securities Depository...

Vietnam Business Briefs September 27, 2012

* Petrolimex Petrochemical Company has announced October 10 as the ex-dividend date to advance 2012 dividend in cash for shareholders at 8 percent. * Refrigeration Electrical Engineering Corporation has acquired over 207,000 shares ofVinacomin-Nui Beo Coal Company (NBC) to bring up its holding from 8.4 percent to 9.4 percent. * Vietnam Bank for Social Policies […]

Vietnam Business Briefs September 26, 2012

* ACB Growth Fund (ACBGF) has announced its net asset value per unit by September 20 at VND11,739, inching up VND13 compared to the previous week. * Thong Nhat Joint Stock Company has canceled its plan to list on the Hochiminh Stock Exchange (STC) as it is capitalized at VND82 billion, lower than STC’s new […]