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Tag Archive for ‘Saigon’

Vietnam’s beverage sector draws investors

Despite the economic slump that is forcing consumers to cut spending, local and foreign investors believe that the food and beverage industry in Vietnam continues to remain attractive. Seeing that demand and growth in this field is huge, manufacturers have been promoting their investments to win more market share. Recently, Coca Cola announced that it will pump in more investments of upto US$300 million, starting next year. This investment will be used to improve operations of its three factories in Hanoi, Da Nang and Ho Chi Minh City. In addition, Coca Cola Beverages Vietnam Ltd also signed an agreement with…

ABBank cooperates with Sai Gon Ford

From November 5, 2012 to February 5, 2013, An Binh Commercial Joint Stock Bank (ABBank) would cooperate with Saigon Ford Ltd Co (Saigon Ford) to run a preferential programme for customers who have demand for car purchase at SaiGon Ford. Accordingly, customers would now be able to own luxury Ford cars with the funding support […]

Some notable M&A deals between Japanese and Vietnamese firms

* DIAIF Fund announced its purchase of 25 percent stake in Nutifood. * Daio Paper Corporation (Daio) and BridgeHead Investment Fund (under Development Bank of Japan) hold 48 percent stake in Saigon Paper JSC. * Unicharm Group acquired 95 percent stake in Diana. * Japan-based Sojitz Group bought 51 percent shares of Huong Thuy Production Service and Trading Joint Stock Co, a large food retailer in Vietnam. The company has a transport network nationwide with 12 transit facilities, specializing in providing food and drinks for about 40,000 stores. * Veglia Laboratories Co together with another Japanese partner acquired 20 percent stake in Viet Esco Co, an…

HCM City outlines big plan for Thu Thiem area

Ho Chi Minh City’s adjusted construction planning to 2025 has given the Thu Thiem new urban area an extremely important place in the city’s development course. The area was outlined to form part of the city’s central urban area and at the same time operate as a major economic and financial centre, which is expected […]

Saigon Times Foundation (STF)’s VND805 million scholarships

The Saigon Times Foundation (STF) and its sponsors handed more than 100 scholarships worth VND805 million to over 105 university students in HCMC, Binh Duong and Dalat last Friday. The scholarships were sponsored by KFC Vietnam Joint Venture Co. Ltd. (KFC), Asia Commercial Bank (ACB), Benthanh Group, Dan On Foods Company Ltd., Robert Bosch Vietnam […]

Sacombank Refuses to Buy SJC Bullion with Old Packages

Saigon Thuong Tin Commercial Joint Stock Bank (STB) has recently refused to buy SJC-branded bullion with old packages, the local newswire Infonet.vn reported. One customer could not sell a tael of SJC gold to a transaction office of Sacombank on Tran Thai Tong Street due to the above reason although he presented invoice indicating that he previously bought the gold from the bank. Other customers were also told that the lender would no longer trade SJC with the earlier packages. The Saigon Jewelry Company Limited (SJC) late last month announced that SJC bullion of a half, one, two…

Vietnamese Software Firm Eyes “New City”

Quang Trung Software City Development Company has been instructed by the Ho Chi Minh City People’s Committee to work with the planned Thu Thiem new urban area management board to study possible locations for developing a second site. Quang Trung software has hopes for new urban project According to Chu Tien Dung, chairman of Quang Trung Software City Development Company (QTSC), Thu Thiem Software Park is a prime candidate for QTSC2. “We are researching some places for QTSC2 and will report to the Ho Chi Minh City People’s Committee the best one,” Dung said. “As we have seen, Thu…

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…

Gold molds of non-SJC producers sealed up

The State Bank of Vietnam has received gold bullion molds from five institutions that have been licensed to produce gold bars in order to seal and supervise, its Ho Chi Minh City branch has announced. The five licensed gold bullion producers include the Asia Commercial Bank, Southern Bank, Sacombank SBJ, Agribank Gold Joint Stock Corporation, and the Phu Nhuan Jewelry Co (PNJ). “The said companies have transferred their gold molds to the central bank,” said Nguyen Hoang Minh, deputy director of the SBV HCMC branch. The move was made following the…

HCM City To Extend Dykes To Belt Road No. 3

Given the rapid urbanization, the center of HCMC may have developed further to Belt Road No. 3 by 2015, requiring dykes and tidal drainage facilities to be extended to protect the center from high tides and climate change. To accomplish the above objective, the Government has approved an irrigation and anti-flooding project for HCMC. The […]