Archive for July 5th, 2012
Thailand Bangchak declares force majeure after refinery fire
Thailand’s Bangchak Petroleum Pcl declared force majeure on crude imports after a fire on Wednesday forced its refinery in central Bangkok to shut down, adding more oil [...]
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Thai refinery blaze ‘just a blip’
Maybank Kim Eng Securities (Thailand) said the impact on Bangchak’s operating results will be limited by insurance covering property damage and business interruption. [...]
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China stockpiling rare earths
China has started strategic stockpiling of rare-earth minerals for the first time, the state-run China Securities Journal reported Thursday. Beijing in May 2011 announced its [...]
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Business Briefs July 5
* Phuoc Hoa Rubber Company (PHR) has registered to buy back 500,000 shares as treasury shares from July 9 to August 8. * Electricity Construction JSC- VNECO 2 (VE2) used its [...]
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HNX 30 Index to officially be launched on Jul 9
Hanoi Stock Exchange (HNX) has said that on July 5 it would officially organise a press conference to introduce the HNX 30” Index at its headquarters. According to HNX, [...]
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Two JS banks still have substandard chartered capital of less than 3tr dong
Vietnam’s entire banking system has 35 non-state joint stock banks, of which there are still two banks with substandard chartered capital of three trillion dong and [...]
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PGS estimates over 100b dong profit in Jan-Jun
PetroVietnam Southern Gas Joint Stock Co (HNX-listed PGS) has recently announced completing its six-month business plan with estimated profit of over 100 billion dong (its [...]
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CSM estimates 150b dong profit in H1/2012
Southern Rubber Industry Joint Stock Co (coded CSM) estimated to gain 150 billion dong pre tax profit in the first half of this year, said Le Van Tri, CSM’s deputy [...]
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VGS reaches over 1tr dong revenue in 2Q/2012
In the first six months of this year, Vietnam-Germany Steel Pipe Joint Stock Co (coded VGS) estimated to gain more than one trillion dong revenue but its profit was estimated [...]
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EVN’s electricity production and purchase estimated at 56.475b kWh in H1/2012
As per Electricity of Vietnam Group (EVN)’s business report for the first six months of this year, the group has finalised the dissolution of Dong Nai Hydropower Joint [...]
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KienLongBank allowed to trade corporate bonds from July 2
The State Bank of Vietnam (SBV)’s governor on July 2, 2012 issued a decision amending the operation license of Kien Long Commercial Joint Stock Bank (KienLongBank). [...]
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Banks raise interest rates for long term savings
On July 4, many banks announced their new deposit interest rate benchmarks whereby the saving interest rate has been adjusted up for long term deposits, according to the [...]
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Lending rates stay sky-high
Several commercial banks have rushed to launch promotional lending programmes in the wake of the central bank’s recent easing of open market interest rates. Yet, cheap [...]
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Commercial banks encouraged to deal with bad debts on their own
Commercial banks are encouraged to rapidly deal with bad debts by their own risk provisions rather than counting on the national bad debt trading company. Tackling bad debts [...]
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Economic growth pick up difficult
The central bank’s recent credit relaxation amid plummeting inflation has fuelled hopes for economic rally soon to come. Yet, stirring up growth would not that simple. [...]
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