Vietnam needs ‘markets to stay stable’ for overseas bond sale | |||||||
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“We are closely watching the movement of international financial markets and need the markets to just be stable for a couple of weeks to sell the bond,’’ Finance Minister Vu Van Ninh said in an interview at a conference in Hanoi recently. Concerns over the worst housing slump in 27 years reining in the US economy is deterring investors from high-risk, high-yield debt. The Southeast Asian nation delayed the bond sale, which was initially scheduled for September and will be its second overseas security, due to turbulence in the markets. The global markets are still not in a favorable condition for Vietnam to sell the bond, Ninh said. The risk of companies and governments in Asia excluding Japan defaulting on their debt has increased on concern about the US slowdown. The region’s index of 20 high-risk, high-yield borrowers rose by 47 basis points to 3.79 percentage point Sunday from January 2. A basis point is 0.01 percentage point. “All the necessary preparations have been completed, we are just waiting for the market to get better,’’ Nguyen Thanh Do, director of the finance ministry’s external financing department, said in a telephone interview from Hanoi. The government plans to market the bond to investors in Singapore, where it will be listed, one week ahead of the auction, Do said. The sale is being managed by Barclays Capital, Citigroup Inc. and Deutsche Bank AG. The Ministry of Finance late December had postponed the plan to sell $1 billion of dollar-denominated sovereign bonds until the first quarter of this year due to strong dollar liquidity at home. The issue, originally scheduled for October, has been delayed twice. The reason for the delay was that the government worried about the influx of dollars into the economy but we figured the impact would be minimal as most of the dollars raised from the bond sale would be spent overseas for equipment import, according to the ministry. The government is to lend part of proceeds from the debt to state oil group PetroVietnam to import equipment for the $2.5 billion Dung Quat refinery, the Southeast Asian country’s first. Other recipients of the proceeds include state-owned shipping firm Vinalines, Song Da Corp. and engineering firm Lilama, to buy cargo tankers and build power plants in Laos. In October 2005, Vietnam sold its debut Eurobond worth $750 million, having received orders for more than $4.5 billion. The issue helped set a benchmark for the country’s creditworthiness and similar issues by domestic firms. Source: Bloomberg/Reuters | |||||||
Tuesday, January 15, 2008
Vietnam needs ‘markets to stay stable’ for overseas bond sale
Vietcombank’s assets jump 14 percent
Vietcombank’s assets jump 14 percent | |||||||
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The Hanoi-based bank, which last month became Vietnam’s first state-run bank to conduct an initial public offering, said its loans surged 44 percent to VND95.58 trillion from the end of 2006, less than 1.3 percent of which were bad. Vietcombank, or the Bank for Foreign Trade of Vietnam, took in VND143.64 trillion in deposits last year, up 20 percent from 2006. The bank had a gross profit of VND3.1 trillion last year, it said without giving comparative figures for 2006 or net profit. It handled export and import payments worth $26 billion last year, a rise of 14 percent from 2006 and accounted for 26.6 percent of the country’s external trade. The bank said last month its profit would fall in 2007 as mounting competition from more than 30 partly private banks and 28 foreign banks operating in the country hit revenues and boosted costs. Vietcombank, the largest Vietnamese firm to conduct an IPO, raised $652 million late last year offering, the first share sale by a state bank in Vietnam, valuing the bank at around $10 billion. It is expected to announce a foreign strategic investor before listing on the Ho Chi Minh Stock Exchange by the end of March. It also plans to list in Hong Kong or Singapore in 2009. Source: Reuters | |||||||
Oil trader eyes January 24 debut for $40 million IPO
Oil trader eyes January 24 debut for $40 million IPO | |||||||
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The Ho Chi Minh Stock Exchange said Pitco would list all its 9.77 million shares on January 24 at a starting price of VND65,000 ($4.10) each. Pitco shares’ starting price is lower than the average price achieved at a share auction last April, when the HCMC-based firm raised nearly $14 million by selling 12.25 percent of the state-held shares to the public. In June 2006 it sold 2.9 percent of the firm in an IPO. Pitco, 51 percent owned by Vietnam’s top fuel trader Petrolimex, trades oil and petrochemicals. Its export of minerals, mainly tin and antimony, makes up 40 percent of the country’s minerals exports. Vietnam is Southeast Asia’s third-largest producer of crude oil but it has to import most of its oil product needs because it has no big refineries. Its first large oil refinery is slated to start operation in early 2009. Pitco also deals with coffee, black pepper, rubber and metals. Vietnam is the world’s biggest producer and exporter of Robusta coffee. Pitco expects its gross profit to rise 10 percent from the estimated profit for 2007 to VND42.6 billion, while 2008 revenues are expected to rise 14 percent to VND1.6 trillion. Full-year results were not immediately available but the company said net profit for the first nine months of last year totaled VND32 billion. Source: Reuters | |||||||
Monday, January 14, 2008
PetroVietnam, legal association team up
PetroVietnam, legal association team up
14/01/2008 -- 8:44 PM
Ha Noi (VNA) – The State-owned largest oil and gas group – PetroVietnam, signed a legal consultancy deal with the Vietnamese Lawyers’ Association (VLA) in Ha Noi on January 14.
“This cooperation aims at building a safe, efficient and law-abide business environment,” PetroVietnam President Dinh La Thang said at the signing ceremony.
Present at the ceremony, Deputy Prime Minister Truong Vinh Trong praised the cooperation, expressing hopes that the VLA would help local businesses gain thorough understanding of international laws and norms when the country became the World Trade Organisation member.-Enditem
(VNAgency)
Thai garment company operational in Ben Tre
Thai garment company operational in Ben Tre
14/01/2008 -- 9:07 PM
Ben Tre (VNA) – Thailand’s Alliance One Garment Co. Ltd. has officially put its plant into operation in Giao Long industrial park in southern Ben Tre province and shipped the first batch of products worth 400,000 USD.
Alliance One, the first foreign-invested company operational in the park, has an investment capital of 18.1 million USD. It turns out sportswear products of trademarks like Adidas, Nike and Puma for exports.
The first phase of the plant is expected to be completed in June 2008 and the construction of the second phase, the knitting and dying workshops, will begin in March 2008.-Enditem
(VNAgency)
French firm puts tanning factory into operation
French firm puts tanning factory into operation
14/01/2008 -- 9:07 PM
Dong Nai (VNA0 – France’s Rostaing Viet Nam has put a 2 million USD tanning factory into operation in the Long Thanh industrial park in the southern province of Dong Nai.
The factory has a designed output of between 30,000-40,000 sq.m. a month.
Rostaing Viet Nam has been in the country for 13 years, involving in manufacture of rubber, plastic and leather products to exports to European markets.
It already has plants in Bien Hoa II and Ho Nai industrial parks in Dong Nai.-Enditem
(VNAgency)
Lang Co town taps tourist strength for growth
Lang Co town taps tourist strength for growth
14/01/2008 -- 8:25 PM
Thua Thien-Hue (VNA) – Possessing white-sand quiet beach and ranges of mountains stretching to the sea, Lang Co town in central Thua Thien-Hue province is an ideal getaway spot and has been successful in inviting both local and foreign investors into spurring its potential.
The Gia Minh Conic Company of the Conic Real Estate Group has recently broken ground for the Conic-Lang Co Resort complex in the town.
The 10-ha 400 billion VND complex is designed to have 200 rooms, 40 world-class villas, conventional halls, and expected to be operational in 2009.
The Gia Minh Conic company has also joined hands with the Lap An Development Company of Denmark ’s Nordica Properties to develop the Lap An-Lang Co Resort and Golf Course complex.
The Lap An-Lang Co tourist-golf course project is to encompass 800 luxurious villas and apartments, and two 9-hole golf courses to be built on 145 ha of land and water surface surrounding the Lap An peninsula.
The complex, with construction expected to begin in July this year and complete by the end of 2011, is to cost close to 5 trillion VND.
Early this month, Lang Co town witnessed the construction of a series of marine tourist projects, including the Diana Resort, the Everland Resort, the Le Royal Annam Resort and the Lang Co vessel tour zone.-Enditem
(VNAgency)
IBM to expand operation in Viet Nam
IBM to expand operation in Viet Nam
14/01/2008 -- 5:20 PM
Ha Noi (VNA) – Steve Mills, Vice President of the IBM group, has revealed his group’s plans to expand operation in Viet Nam and Asia .
Mills, who is in Viet Nam for a seminar on Career Education in IBM Software (CEIS) co-organised by the Ha Noi University of Technologies and DTT-Ha Noi CTT company, had a talk with Ha Noi information technology students on January 14.
According to him, IBM is in need of 30,000 programmers for its worldwide expansion. He said he expected to welcome more Vietnamese students to work for his group.
He also spoke of his group’s CEIS programme, which will take Viet Nam as the first country in Southeast Asia and the second in Asia after India for its launching.
On the occasion, Mills handed over to the DTT-Ha Noi CTT company a certificate as IBM’s first partner in CEIS programme in Viet Nam .
IBM Viet Nam also signed a memorandum of understanding on training cooperation with the Ha Noi University of Technologies and DTT-Ha Noi CTT.
Under the MoU, the three sides will cooperate in training lecturers, organising more courses and recruiting IT students after they graduate.
Learners will follow curricula with international-standard textbooks provided by IBM and receive IBM certificates.-Enditem
(VNAgency)
Stock indexes continue down the slope
Stock indexes continue down the slope
14/01/2008 -- 3:45 PM
Ha Noi (VNA) – Viet Nam’s stock indexes continued their downward trend on both the Ho Chi Minh City bourse and its Ha Noi-based counterpart during the January 14 trading session.
The VN-Index at the Ho Chi Minh City Stock Exchange (HoSE) dropped 19.77 points to close at 841 points with over 10 million shares, worth 960 billion VND, changing hands.
As many as 53 stocks went through the floor with Tay Ninh Cable Tour Company (TCT) reporting the largest loss of 14,000 VND per share, followed by Song Da Urban & Industrial Zone Investment and Development (SJS), Saigon Securities Inc. (SSI) and Hoa Binh Rubber (HRC).
Meanwhile, the HaSTC-Index at the Ha Noi Securities Trading Centre also suffered a sharp fall of 13.92 points to finish at 275.68 points. Around 2.6 million shares, worth 207 billion VND, were traded during the course of the session.
Up to 108 out of 118 listed stocks declined while only eight rallied for gains and two saw no change.
Song Da 99 (S99), Song Da 10.1 (SNG) and Saigon Cement (SCJ) were among the biggest losers of the day.-Enditem
(VNAgency)
HCM City benefits from nation’s WTO membership
HCM City benefits from nation’s WTO membership
14/01/2008 -- 11:24 AM
HCM City (VNA)- One year of WTO membership was marked with an all-time increase in foreign direct investment (FDI) and exports for Ho Chi Minh, making the southern economic hub to lead the nation in these fields.
FDI into the city rebounded to 3 billion USD with over 400 projects in 2007, representing an annual surge of 28.6 percent after years of sharp decrease. FDI from overseas Vietnamese also increased eight fold over 2006.
Figures have shown that the once “Far Eastern Pearl” remained to be the most attractive destination for foreign investors.
Investment quality has also improved as investors have shifted their focus to investment scale and hi-tech from labour intensive projects.
Exports revenues in 2007 recorded 18.3 billion USD while foreign arrivals into the city hit a 3 million mark, representing an increase of 14.6 percent and accounting for 70 percent of the national total.
Cargo handling through Ho Chi Minh City ’s ports reached 50.5 million tonnes, brightening the city’s future as a regional and continental port metropolis by 2020.
Total social investments increased 24.2 percent to 84.5 trillion VND (5.20 billion USD), partially thanks to the establishment of more than 18,500 new enterprises with a combined charter capital of 160 trillion VND.
As a result, the city registered a gross domestic product growth rate of 12.6 percent, an all-time high and an increase of 12 percent over the five year (2006-10) average target.
The municipal economy expanded by 2.5 times from 2001, making a plan for a three-fold increase by 2010 well grounded.
Its annual per-capita income reached 2,100 USD in 2007 and is expected to hit 3,000 USD in 2010. The city’s five-year poverty alleviation programme fulfilled its goal two years ahead of schedule by bringing the number of families living under the poverty line of six million VND per family member a year down to 1.9 percent.
Deputy Chairperson of the municipal People’s Committee Nguyen Thi Hong attributed all these achievements to the city’s great efforts to cash in on opportunities and overcome difficulties of the first year of the country’s WTO membership.
“The city named after Great President Ho Chi Minh has not only established itself but also rising above itself,” she added.
However, difficulties and challenges remain ahead especially from January 1, 2009, when the country will fully open its market on trade and goods under its WTO commitments, expert warned.
Many said the city should concentrate on speeding up the construction tempo of traffic projects along with faster disbursement of licensed projects.
To meet that end, the city should make a breakthrough in reforms of administrative procedures, which now costs several years for a project to kick off its construction, experts emphasised.--Enditem
(VNAgency)
Glassmakers prefer to keep it local
Glassmakers prefer to keep it local
14/01/2008 -- 11:32 AM
Ha Noi (VNA) – Most construction glassmakers are paying attention to meeting local demand rather than promoting exports, said local leaders in the industry.
Viglacera Float Glass Co. deputy director Luyen Cong Minh said that the company posted a modest export value of only about 5 million USD last year despite having several orders at far higher value. He pointed to the high prices fetched on the domestic market compared to export prices as a major reason for his poor export turnover.
Viglacera Dap Cau Sheet Glass Joint Stock Co general director Nguyen Thanh Tri said the company allocated only 5-10 percent of its output for exports with the remainder destined for domestic partners.
Construction glass exports were considered a tool to regulate the market because enterprises only turned their thought to exports when local demand was low, Minh said.
Viet Nam Glass Association general secretary Le Minh Tuan also pointed out that the increasing price of raw materials and high transportation costs were major challenges that have made enterprises hesitant to boost exports.
Glassmakers have given top priority to the domestic market as local demand was increasing, but with the current growth rate it was a suitable time for glassmakers to step up export, said Tuan.
To this end, they should take steps to further improve product quality, increase output and seek new markets for their products, he suggested.
Few glassmakers were able to produce high-quality float glass products sought after in international markets, leaving Cambodia and Thailand as the leading export markets.
Stepped-up operations at two plants producing high-grade construction glass in Chu Lai Open Economic Zone in Quang Ngai, and Ba Ria-Vung Tau province, with a combined capacity of 1,200 tonnes per day, would help raise the ratio of quality glass to 73 percent, the association said. The glass sector would then be able to move more boldly on strict markets like Japan , Singapore and the US, it said.
The country is presently home to seven construction glassmakers with a combined capacity of over 1,600 tonnes per day, meeting 80 percent of demand on the domestic market, according to the Viet Nam Glass Association.
Domestic construction glass has been exported to several markets, including Cambodia , Thailand , India , the Philippines , Malaysia and South Africa. -Enditem
(VNAgency)
Ba Ria-Vung Tau to improve industrial parks
Ba Ria-Vung Tau to improve industrial parks
14/01/2008 -- 11:32 AM
Ba Ria-Vung Tau (VNA) – The provincial authority of Ba Ria-Vung Tau has approved a plan to invest over 1 trillion VND (63.5 million USD) for further infrastructure development of the province’s industrial parks in 2008.
According to the Ba Ria-Vung Tau IPs Authority, the investment includes 180 billion VND for infrastructure development of Cai Mep IP, 150 billion VND for site clearance at My Xuan B1 IP, 125 billion VND for site clearance and infrastructure development for the expansion area of My Xuan A2 IP, 107 billion VND for upgrading the axis road and a waste water treatment plant at Phu My IP, and 23 billion VND for a waste water treatment plant for Dong Xuyen IP.
The IPs authority said in 2007 the southern coastal province spent 2.2 trillion VND (137 million USD) for infrastructure development and upgrade for the nine existing industrial parks in the province.
In December 2007, the provincial authority granted a licence for the new Phu My IP No3 that covers 952 ha. This is the tenth industrial park licensed in Ba Ria-Vung Tau.-Enditem
(VNAgency)
Largest medical equipment factory to be built in Ha Tay
Largest medical equipment factory to be built in Ha Tay
14/01/2008 -- 11:24 AM
Ha Tay (VNA) – The wholly foreign invested B. BRAUN Viet Nam will kick off construction of a 35 million USD medical equipment factory in the northern province of Ha Tay on January 15.
Located at the Thanh Oai Industrial Complex, the factory is expected to be the largest of its kind in Viet Nam with an annual output of 15 million products, earning an estimated 17 million USD in revenues.
In the first phase, the factory will cover an area of 15,400 sq.m but its area and capacity will increase to 22,000 sq.m and 150 million products respectively after the second phase is completed.
Around 80 percent of its products will be exported to Asia-Pacific countries.-Enditem
(VNAgency)
Tet festival overloads tourist companies
Tet festival overloads tourist companies
14/01/2008 -- 11:16 AM
HCM City (VNA) – The upcoming Lunar New Year festival has generated so much business for tourist companies operating in Ho Chi Minh City that many have already stopped offering further services for the month-long festivities.
The number of tourists registering for travel during Tet has already exceeded 8,000 in some big companies.
Most tourists going out of the country are heading to Hong Kong , Thailand , Malaysia and Singapore . Popular domestic tourist spots include Nha Trang, Da Lat and Phu Quoc. This year, the number of overseas Vietnamese coming back is up 30 percent.-Enditem
Mekong fruit growers join hands for high-quality produce
Mekong fruit growers join hands for high-quality produce
14/01/2008 -- 10:58 AM
HCM City (VNA) – As many as 95 percent of farmer members of five cooperatives in the Mekong Delta have been applying the Good Agricultural Practice (GAP) in the cultivation of fruit trees since early 2007.
They are members of the Tien River GAP Alliance management board, which said it has established a group responsible for selling fruits for those farmers, who grow mainly dragon fruits, mangro, grape fruits, mangosteen and orange in Long An, Tien Giang, Ben Tre and Vinh Long provinces.
The board will expand the GAP project to pineapple and mandarin orange growers in Dong Thap province this year.
The Tien River GAP Alliance is a non-governmental organisation whose main objective is to coordinate the efforts of scientists, farmers and enterprises to produce high-quality fruits and vegetables that are competitive in domestic and world markets.-Enditem
(VNAgency)
Vietravel to welcome 2,200 foreigners in January
Vietravel to welcome 2,200 foreigners in January
13/01/2008 -- 9:02 PM
Ha Noi (VNA) – Vietravel, on of the country’s biggest travel company, is preparing to welcome at least 22,000 foreign visitors, who will arrive later this month, before Viet Nam’s traditional New Year holiday.More than 1,500 tourists from Japanese and 700 from Thailand , Malaysia , France , German and the Netherlands have registered for tours through the company.
Over 2,000 domestic visitors have booked tours in January through Vietravel, a 15 percent year-on-year increase.
More than 2,000 other people have registered for tours during Tet, which falls on February 7, and the figure is expected to increase to 3,000, a company representative said.
According to Vietravel, most attractive destinations are Nha Trang, Da Lat, Phan Thiet, Ha Noi and Ha Long. Meanwhile, favourate outbound markets for Vietnamese tourists include China , Hong Kong , Thailand and Singapore as well as the US and Australia.-Enditem
(VNAgency)
Sunday, January 13, 2008
20 million USD project gets investment licence in Hai Phong
20 million USD project gets investment licence in Hai Phong
12/01/2008 -- 7:31 PM
Hai Phong (VNA) – Sin Chi Viet Nam Co., Ltd on January 11 received an investment certificate for its 20 million USD project to produce kitchen utensils, automobile and electronic components from aluminum alloy in the northern city of Hai Phong .Work on the construction of the 13,000sq. m plant is scheduled to be start in February 2008 and when operational next year, the plant is expected to generate jobs for about 300 workers.
Sin Chi Viet Nam Co., Ltd was established by China ’s Sin Chi International Limited with a chartered capital of 72 billion VND (4.5 million USD)-Enditem
(VN Agency)
Bao Minh, Vietnam Airlines strike 4 billion USD deal
Bao Minh, Vietnam Airlines strike 4 billion USD deal
12/01/2008 -- 8:58 PM
Ha Noi (VNA) – The Bao Minh Insurance Corporation, the second largest insurer in Viet Nam, and the national flag carrier Viet Nam Airlines on Jan. 11 came to terms on a new 4 billion USD contract for 2008.Under the contract, Bao Minh will insure the airlines’ liability, aircraft and some 9 million passengers expected in 2008 in line with international regulations and standards.
Last year, Vietnam Airlines also signed a 4 billion USD insurance contract with Bao Minh and the Viet Nam Insurance Corporation (Bao Viet).-Enditem
(VNAgency)
New regulations govern petroleum imports, re-exports
New regulations govern petroleum imports, re-exports
12/01/2008 -- 9:43 PM
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EVN reports high revenues, drooping profits
EVN reports high revenues, drooping profits
12/01/2008 -- 9:06 PM
Ha Noi (VNA) – Electricity of Viet Nam (EVN) on January 11 said it sold 58 billion kWh of electricity last year, an increase of 1.2 percent over the yearly target and 13.4 percent over 2006.The country’s largest electricity producer said strong electricity sales helped bring in total revenue of 56 trillion VND (3.5 billion USD) last year, up 22 percent. Of this, net profits totalled 1.4 trillion VND (87.5 million USD), down 27 percent.
EVN attributed the decrease in profits to a number of difficulties in 2007, including unstable gas supplied for gas-fuelled plants and the sudden breakdowns of several power plants and transmission lines.
According to EVN, close to 66.6 billion kWh of electricity were produced in the country last year.
EVN general director Pham Le Thanh said that the State-owned electricity producer last year invested 36 trillion VND (2.25 billion USD) in business expansion. Of this, 15.4 trillion VND (962 million USD) went to electrical production and 11.4 trillion VND (712 million USD) to distribution.
Last year the corporation also began construction on 23 new power plants, which combined would produce 6,810MW of electricity by 2010.
However, a number of new power plants are already operational as of this past year, including Uong Bi MR1 thermal power plant and Quang Tri, Dai Ninh and Tuyen Quang hydro electric plants.
EVN last year also finished constructing and began operation of a number of electrical lines like the 220kV transmission line connecting China to Viet Nam and a 220kV transmission line connecting Tuyen Quang and Ha Noi’s Soc Son district.
Thanh said the company plans to sell 67.4 billion kWh this year, up 15 percent over 2007, and targeted a revenue of 58 trillion VND (3.6 billion USD), up 3 percent year on year.
The company has stated that demand for electricity grew by 15 percent yearly between 1995 to 2005, and the growth rate was expected to reach 16 percent between 2007 and 2010.
This soaring demand is attributed to both increasing industrial and residential use. Many power shortages are expected in the upcoming period if measures are not taken to increase the power supply.
Over the 2006 to 2010 period, an investment of over 16 billion USD is needed for the development of new transmission and distribution systems in EVN and IPP (Independent Power Plant) projects.
Around 44 new power generation projects are also necessary.
Financing for this development is expected to come from EVN’s own funds, Official Development Assistance loans, Viet Nam’s Development Assistance Fund, commercial loans and foreign export credit, as well as from IPP developers.-Enditem
(VNAgency)
Int’l trade exposition on big names opens
Int’l trade exposition on big names opens
12/01/2008 -- 9:47 PM
Ha Noi (VNA)- The Viet Nam-WTO Trade Exposition-2008 was opened in Ha Noi on January 12 to give the public an overview of Viet Nam’s economy in the first year of its World Trade Organisation membership.In his opening speech, Deputy Minister of Industry and Trade Nguyen Thanh Bien highlighted the event as a venue of famous trademarks from countries with huge investments in Viet Nam .
It is also the exhibition of achievements recorded by ministries, industries and localities as well as promotion of the country’s tourism, services and fine art articles.
Head of the organising board Luong Van Tu described the event as a big opportunity for businesses to sign trade and investment deals, on both bilateral and multilateral basis.
During the exposition, there will be workshops on the Vietnamese stock market and foreign investment.
The event will last till January 17.--Enditem
(VNAgency)
Another investor conference on the way
Another investor conference on the way
12/01/2008 -- 9:43 PM
Ha Noi (VNA) – The Ministry of Finance and EuroEvents will hold the Viet Nam Finance and Capital Markets 2008 conference in Ha Noi on January 23-34.Topics covered during the conference will be investment opportunities for foreign and domestic investors; the equities and securities market; corporate and government bonds; IPO and equitisation; key government initiatives; market surveillance, compliance and the latest regulatory issues; bond trading; investment funds; the reforming banking sector; and the development of professional services.
Following the success of last year’s version, this year’s conference will look at the development of the capital market and opportunities for both domestic and foreign investors.
The event is expected to draw over 500 people to hear a broad range of speakers discuss the latest issues affecting Viet Nam ’s finance and capital market, as well as the outlook for the future.
Viet Nam has been touted as the newest ‘economic dragon’ after its economy underwent rapid transformation to become the most promising in Southeast Asia .
In 2006, Viet Nam attracted FDI capital of 12.2 billion USD, a two-fold increase against 2005. Last year, Viet Nam reached 20.3 billion USD in FDI, almost double that of 2006.
Banks around the world are predicting another astonishing year for Viet Nam in 2008 with economic growth of around 9 percent.-Enditem
(VNAgency)
Saturday, January 12, 2008
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Friday, January 11, 2008
DCT: Listing and trading the additionally issued shares
DCT: Listing and trading the additionally issued shares | ||
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Name of the listed firm: Dongnai Roofsheet & Construction Material Joint - Stock Company Short name: DONAC Add: Street No.4, Bien Hoa I Industrial Park, Dong Nai Province Tel: (84-613) 836 130 Fax: (84-613) 836 023 Pursuant to Decision No 186/QD- SGDCK dated December 25th, 2007, the Dongnai Roofsheet & Construction Material Joint - Stock Company will list and trade the additionally issued shares on the exchange as follows: Stock symbol: DCT Stock type: Common Stock Par value: VND10,000 Registered volume to issue: 6,048,673 shares Total value (basing on par value): VND60,486,730,000 Effective date of the listing license: December 25th, 2007 Trading date: January 14th, 2008 VSE |
SSI - convertibility of SSICB0106 bond and interest payment
SSI - convertibility of SSICB0106 bond and interest payment | ||
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Convertibility of SSICB0106 bond: Bond type: SSICB0106 convertible bond under face value of VND100,000 Convertible volume: 1,666,800 bonds Convertible ratio: 1:10 (1 bond can convert into 10 common shares under par value of VND10,000) Convertible date: January 30th 2008 The record date of convertibility: January 25th 2008 Time of suspending bond transference: from January 23rd 2008 to January 30th 2008. Bond owners have right to register not to convert their SSICB0106 bonds into shares from January 21st 2008 to January 25th 2008. These owners will be paid both principal and interest when the company pays interest of bond. The right is done only once and cannot be changed after registration. Shares converted by SSICB0106 will be registered to trade on HOSE at the end of February 2008. Interest payment of bond Volume, bond type and interest 1,666,800 SSICB0106 bond: interest of 1% per month from the issuing date to January 30th 2008 to all bond owners who convert or do not convert bonds into shares. 1,666,800 SSICB0206 bond: interest of 1.1% per month from the issuing date to January 30th 2008. 2,222,000 SSICB0306 bond: interest of 1.15% per month from the issuing date to January 30th 2008. The record date of interest payment: January 25th 2008 Time of suspending bond transference: from January 23rd 2008 to January 30th 2008. Interest payable period: from January 31st 2008 to February 15th 2008, interest which is not received within the period will be added non-term deposit rate of 2.4% per year from February 15th 2008 to the date of receiving interest based on 365 days. Procedures and place to pay interest: interest is transferred to the bond owner account at SSI. In case bond owners who do not have account at SSI will receive cash at the following places: SSI: 72 Nguyen SSI – For more information on bond convertibility, please look up website: www.ssi.com.vn After the record date of bond convertibility and interest payment, the company will send letters to each bond owners. VSE |
BBC: Listing and trading the additionally issued shares
BBC: Listing and trading the additionally issued shares | ||
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Name of the listed firm: BIBICA Corporation Short name: BIBICA Add: Bien Hoa 1 Industrial Park, Dong Nai Province Tel: (84 - 61) 3836576 Fax: (84 - 61) 3836950 Pursuant to Decision No 1/QD- SGDCK dated January 2nd, 2008, the BIBICA Corporation will list and trade the additionally issued shares on the exchange as follows: Stock symbol: BBC Stock type: Common Stock Par value: VND10,000 Registered volume to issue: 609,082 shares Total value (basing on par value): VND6,090,820,000 Effective date of the listing license: January 2nd, 2008 Trading date: January 16th, 2008 VSE |
MHC - License for the additional issuance of stock
MHC - License for the additional issuance of stock | ||
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Stock symbol: MHC Stock type: Common Stock Par value: VND10,000 Total offering volume: 4,689,648 shares. Purpose of raising capital: To buy container ships: VND80 billion; To increase the working capital and invest in equipment: VND13.79 billion. Distribution time: within 90 days from the effective date of the license. Offering method: according to the prospectus of MARINA HANOI. Advisory company: Alpha Securities Joint Stock Company (APSC). VSE |
PRUBF1 - NAV from 28 Dec to 4 Jan 2007
PRUBF1 - NAV from 28 Dec to 4 Jan 2007 | ||||||||||||||||||||||||||||||||||||||||||||
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