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Tag Archive for ‘Vung Tau’

Vietnam Business Briefs October 31, 2012

* Hoang Quan Consulting-Trading Service Real Estate Corporation (HQC) has decided to spend over VND173 billion buying shares of Binh Minh Port Joint Stock Company to hold a 34 percent stake in the latter * Au Viet Securities Company has registered to buy 750,000 shares of Vung Tau Real Estate and Construction Co (YRC) from November 1-30. * Binh Duong Mineral and Co Construction Company (KSB) has announce November 6 as the ex-dividend date for shareholders to receive 2012 first round dividend in cash at 12 percent. * Petroleum Securities Inc. has offloaded nearly 502,000 shares of An Phat Plastic and Green Environment Co (AAA)…

Vietnam’s Internet to run slowly in the next 10 days

According to information from the Internet service provider FPT, from October 25 through November 4, the international submarine cable AAG (Asia America Gateway) will be repaired. During this time, traffic transmission of telecommunications service providers in Vietnam will be affected. The repair is carried out because the AAG international submarine cable, the segment between Hong Kong and Vietnam’s Vung Tau was broken on August 13, around 6.2 km from the landing point in Vung Tau. Then, due to the complicated error, on September 8, the cable was repaired temporarily to work so far. The representatives of Internet services providers…

Vietnamese dishes recognized by Asian Record

VietNamNet Bridge – A ceremony was held in Ho Chi Minh City on October 27 to announce the first ever list of 12 Vietnamese dishes recognized by the Asian Record Organization (ARO). The ceremony also announced other new national and Asian records. The dishes honoured with food records include Hanoi’s Pho (noodles with beef or […]

Work starts on second MGM tower at Ho Tram Beach

Work starts on second MGM tower BA RIA – VUNG TAU (VNS)— The Canadian Asian Coast Development Limited Company (ACDL) yesterday started construction on the second tower of the MGM Grand building at Ho Tram Beach. The work, 127 kilometres from HCM City in the Xuyen Moc District of the coastal Ba Ria–Vung Tau province, was initially planned for next year. However, with the rapid construction of the first tower, further development has been accelerated. The project, which will become Viet Nam’s first large scale integrated luxury beach resort and entertainment destination, will be the largest tourism complex in the country…

World Bank backs pollution management

HA NOI – A US$50 million project to build wastewater treatment plants and improve environmental policies in industrial zones in four provinces of Viet Nam was agreed yesterday by the World Bank. Under the project, at least eight wastewater treatment systems are to be built in the provinces of Nam Dinh and Ha Nam in the north, and Dong Nai and Ba Ria Vung Tau in the south. The project will also support a comprehensive review of the legal and regulatory framework on pollution management. Funding for the project comes from the World Bank’s International Development Association. World Bank country…

HDC: Mother Firm Posts 4b dong Net Profit in Q3/2012

Ba Ria – Vung Tau House Development JSC. (HDC)’s holding company made a net profit of VND4.3 billion in Q3/2012, down 37.4 percent from a year ago, the firm said in its unconsolidated financial statements. The STC-listed company generated net revenue of VND59 billion in the quarter, compared to VND69.2 billion a year back. In 9M/2012, the firm reported a net profit of VND22.4 billion on net revenue of VND143.5 billion, versus VND77.9 billion and VND336.5 billion a year earlier, respectively. The mother company had total assets of VND1.23 trillion at the end of the quarter, against VND1.21 trillion at…

Ba Ria-Vung Tau Tourism Projects Fail To See The Sun

Many tourism projects in southern Ba Ria-Vung Tau province face a dilemma. Land procedures and rental rates were a hot topic on the agenda of a recent mid October meeting co-hosted by provincial Department of Planning and Investment, Ba Ria-Vung Tau Tourism Association with representatives from diverse state agencies, about 40 travel businesses and investors attending. Firms voiced their great concern over constantly increased land lease rates, which were adjusted, based on market prices, significantly driving up their investment costs. For example, according to US-based Skybridge Intercontinental Development Corporation – developer of Dragon Sea international tourism and…

More and more Vietnam firms decide to delist shares

HA NOI (VNS)— Many companies have delayed their listing plans, and some listed firms were forced to leave the stock market, reflecting the lacklustre market that has lasted since the beginning of this year. The HCM City Stock Exchange has just announced a voluntary delisting of Godaco Seafood Co (AGD). The company’s decision came as a surprise to many investors as AGD is still profitable, expecting to make VND70 billion (US$3.3 million) in the first nine months of this year. Its shares are also traded at a relatively high price of VND48,000 ($2.29) a share. AGD decided to buy…

Vietnam Business Briefs October 22, 2012

* BIDV Securities Company has acquired over 200,000 shares of Long Giang Investment and Urban Development Company (LGL) to raise its holding from 9.3 percent to 10.3 percent. * Viet A Commercial Bank has offloaded over 890,000 shares of Dam Sen Water Park Corporation (DSN) to reduce its ownership from 23.2 percent to 12.7 percent. * HCM City Infrastructure Investment Company (CII) has decided to establish Vietnam Philippines Infrastructure Investment Joint Stock Company with charter capital of 900 billion dong . * Ben Thanh Trading & Service Company (BIT) will hold a 20 percent stake in Lam Son Square entertainment and commercial complex in Vung Tau City through a…

Ba Ria-Vung Tau Tourism Projects Hit Roadblocks

BA RIA – VUNG TAU (VNS) — Complicated administrative procedures and slow land clearance have held back the implementation of many tourism projects in southern coastal Ba Ria-Vung Tau Province. Local investors begged authorities to simplify their procedures and speed up the land clearance process at a meeting with the provincial Department of Planning and Investment and the Tourism Association on Wednesday Previously, the investors had committed to re-implementing their projects next year with the plan of putting the first phase into operation in the period of 2012-14, according to the Department of Culture, Sport…