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Vietnamese Ambassador to Turkey: “Vietnam and Turkey are Heading towards Intensified Relations”

The First Round of the “Asia-Pacific in the 21st Century and Diplomacy” conference series was held at USAK Workshop Hall on 1 November 2012. Ambassador of the Socialist Republic of Vietnam, H.E. Nguyen The Cuong participated as the speaker at the conference. The conference was hosted by Assoc. Prof. Selcuk Colakoglu, Director of the USAK […]

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...

AMV: Suffers 1.5b dong Net Loss in Jan-Sep

American Vietnamese Biotech Incorporation (AMV) reported a net loss of VND1.5 billion in the first nine months of this year, including a loss of VND0.5 billion in Q3/2012, the firm said in its financial statements posted on its website. The company generated revenue of VND6.7 billion in January-September of this year, including VND2.55 billion in the third quarter of the year. The firm posted VND1 billion net loss on VND7 billion revenue in the first nine months of 2011 and VND80 million net profit and VND2.58 billion revenue in Q3/2011.

VNE: to Issue 350b dong Convertible Bonds

Vietnam Electricity Construction Joint Stock Corporation (VNE)’s Board of directors (BOD) approved the plan to issue 350 2-year bonds worth VND350 billion via private placements in October this year. Coupons will be paid semi-annually. The bonds carry an interest rate of 14 percent p.a. in the first two periods. In the later two periods, coupon rates are determined by averaging 12-month VND deposit rate for individuals of ACB, STB, Techcombank, EIB at the payment date plus 4 percent margin (but no less than 14 percent p.a.). Principle and interests of the bonds will be paid from cash recorded in...

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)...

Vietnam Electricity Prices Likely to Be Adjusted Every 3 Months: MoIT Representative

Under practical conditions, the Ministry of Industry (MoIT) and Trade and the Ministry of Finance (MoF) will propose the government to adjust electricity prices every 3 months, said the representative of MoIT at a press conference held on July 9. The representative said that the recent 5% price hike is completely in line with Decision […]

Q2/2012: HSC Tops Brokers on HOSE, Phuong Nam Securities Makes Surprise

Ho Chi Minh City Securities Corporation (HSC) moved up 1 step to top brokers on the Hochiminh Stock Exchange(HOSE), Vietnam’s primary bourse, in the second quarter of this year with 11.47% of the brokerage market share, higher than its 11% in Q1/2012 Saigon Securities Inc. (SSI) gave up its No1 position for the first time in 7 quarters as its market share fell to 8.06% in Q2/2012, ranking second in the top 10 list. In Q1/2012, the broker had 11.74% market share. ACB Securities JSC (ACBS) remained in the third place of the top list with 6.25% market share, much lower than its...