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Tag Archive for ‘M&A’

VinaCapital: VOF targets profit margin of 25pct in 2013

VinaCapital currently manages three funds listed on the London Stock Exchange with total assets as of September 2012 reaching USD 1.5 billion namely VinaCapital Vietnam Opportunity Fund (VOF) with NAV of USD 725.3 million; Vinaland Limited (VNL) with NAV of USD 540.3 million and Vietnam Infrastructure Limited (VNI) with NAV of USD 203.6 million. In addition, this giant also takes over a close-ended fund DFJ VinaCapital L.P with NAV of USD 32 million which specializes in domestic investment in information technology and telecommunications. VinaCapital unveiled intention to keep mobilizing new funds and even set up a new affiliate named VinaWealth with a view to…

Maybank Kim Eng expands footprint in Vietnam

Maybank Kim Eng, the stockbroking and investment banking arm Maybank, is setting sights on becoming the top brokerage in Vietnam by 2015. Maybank Kim Eng, which operates in 11 countries worldwide, views Vietnam as an important market, especially with the increased activity on the Ho Chi Minh Stock Exchange as well as anticipated developments in its capital market. “At Maybank, we are focused on capturing growth opportunities in emerging markets and strengthening our market presence. Looking at Vietnam, there have been positive signs, such as more controlled inflation rates, slowing from 25 per cent to 5 per cent within the past twelve months…

Vietnamese stock market turns unattractive to foreign funds

Foreign capital inflow into Vietnam through investment funds and big securities firms has dipped remarkably while the existing funds here are approaching maturity, piling more pressure on the country’s poor-performing stock market. At the Investors Day 2010, Andy Ho, managing director of VinaCapital, said the group intended to set up two new funds of US$200-300 million each, with one for investment in real estate and the other for investment in the stock market. However, the plan has not fully materialized. VinaCapital has been able to mobilize capital for the property investment fund, and has found it very difficult to do…

Curbing Monopoly Oriented M&A Deals

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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…

Dong to remain stable against US dollar in remaining months of 2012: Quang

The exchange rate between dong and the US dollar is likely to be stable for the ending months of 2012 for five major reasons, director of Currency Trading Department at HSBC Vietnam Dinh Duc Quang was quoted as saying in an interview on Securities Investment paper dated 18 September. First of all, imports may remain steady on domestic modest consumption. In the meantime, Vietnam’s major export items include crude oil; fisheries forestry and agricultural products; processed garment, footwear and electronics which are most essential products at other nations. Excessive import is anticipated to reach USD 500 million…

Vietnam M&A alters business terrain

Vietnam is emerging as a promising market for merger and acquisition (M&A) deals that target Vietnamese companies. This year’s M&A activities in the country’s consumer goods sector should happen more strongly than last year, said Tran Phuong Lan, head of the Competition Policy Board, Vietnam Competition Authority. “First, this is a very potent market thanks to Vietnam’s young population and increasing income level,” she told the second ASEAN competition conference in Ho Chi Minh City September 13-14, titled “Merger and Acquisition: impacts on ASEAN”. The second reason was Vietnamese consumer goods manufacturers were facing many difficulties because of high interest…

Vertical M&A deals on the rise

Most acquisitions and mergers (M&A) in Vietnam have involved companies in same sectors, but the number of vertical M&A deals is rising, says a report on M&A in Vietnam. The report by the Vietnam Competition Authority under the Ministry of Industry and Trade announced last week at the second ASEAN Competition Conference shows that M&A deals in the past were mainly done horizontally. In particular, foreign companies often entered the Vietnamese market through M&A deals with local firms active in same fields. This is a new strategy for market penetration, rather than direct investment as before. However, the number of…

Vietnam M&A Needs Clear Legal Framework

Most mergers and acquisitions (M&A) are favorable to the economy, but some regulations of Vietnam concerning this activity are still unclear, making it difficult for the involved parties, heard the ASEAN Competition Conference. Hassan Qaqaya, head of the Competition and Consumers Policy Branch under the United Nations Conference on Trade and Development (UNCTAD), said M&A […]

$2.5b poured into Vietnam through M&A deals

Statistics announced by Mergermarket in an updated report on mergers and acquisitions (M&A) activities in Vietnam last year showed that from August 2011 so far, there have been total 22 M&A deals worth $2.5 billion. The biggest deal was made in February 2012 after Perenco SA (France) bought back assets of ConocoPhillips in Vietnam with total value of $1.3 billion. Japan still remained the biggest investor in the past one year with the value of investment deals at $803 million. Meanwhile, traditional investors from Europe only made a small number of transactions and the US was not included in the top ten countries…