Vietnam Business RSS News Feed by Intellasia.net

US Diebold sets up shop in Vietnam

Tue, 13 May 2008 07:00:00 PST

After four-years of market study, the US Diebold group, ATM producer officially set up Diebold Vietnam Ltd Co in Hanoi as a long-term investment commitment of the foreign group with Vietnamese customers and market.

Asia traders convention to be held in HCM City

Tue, 13 May 2008 07:00:00 PST

The second Asia Trader & Investor Convention (ATIC@2008) will be co-held in the Hoang Van Thu International Exhibition Centre in HCM City during two days from May 31 to June 1 by the Ho Chi Minh Stock Exchange (STC) and Newt View Group.

Vietnam, Maroc in US$600m fertiliser plant deal

Tue, 13 May 2008 07:00:00 PST

PetroVietnam Fertiliser and Chemicals Co., or PVFCC, and Office Cherifien des Phosphates, or OCP, of Morocco have signed an agreement to build a fertiliser plant valued at US$600 million in Morocco, a PetroVietnam official said Sunday.

Chinese steel undercuts locals

Tue, 13 May 2008 07:00:00 PST

The domestic steel industry is being hurt by Chinese rolled steel, which is being imported at prices far below what local manufacturers can offer.

German contractor nominated for parliament building contract

Mon, 12 May 2008 07:00:00 PST

The Ministry of Construction Thursday recommended a German consortium be awarded the contract to build a new National Assembly Hall in Hanoi.

Multi-level marketing firm plans to tap Vietnam market

Sat, 10 May 2008 07:00:00 PST

Zhulian Corp Bhd, a multi-level marketing company, is planning to spread its wings to Vietnam and the Philippines after having established itself in other major markets of the region.

Jan-April car sales triple on planned tax hike

Sat, 10 May 2008 07:00:00 PST

Auto sales in Vietnam nearly tripled in the first four months of 2008 from the same period last year, the Vietnam Automobile Manufacturers Association said on Thursday, as buyers rushed to avoid planned higher taxes.

Thu Duc Trading Co's Q1 revenue up 60%

Sat, 10 May 2008 07:00:00 PST

Thu Duc Export Import and Trade Joint Stock Co (coded TMC) recently reported the business results in the first quarter of this year with 357.921 billion dong in revenue, up 59.4% against the same period of last year, 11.337 billion dong from after tax profit, rising 159.9% from 2007 and EPS was 2,980 dong.

Corporate tax cuts could woo investment, say lawmakers

Sat, 10 May 2008 07:00:00 PST

A proposed corporate tax cut would help lure more foreign investors to Vietnam without lowering government tax revenues, said several National Assembly (NA) representatives Wednesday.

Businesses short on capital as banks crimp lending

Fri, 09 May 2008 07:09:00 PST

Banks are tightening new loans hence many businesses have to find any way to borrow capital from different unofficial sources.

Hung Viet fund management firm licensed

Fri, 09 May 2008 07:00:00 PST

The State Securities Commission (SSC) on May 6 granted business license No 33/UBCK-GP for Hung Viet Fund Management Joint Stock Co (HV Capital) located at No 63 Pham Ngoc Thach Street, Ward 6 in HCM City's District 3.

Bien Hoa sugar maker posts 10.5b dong profit in Q1

Fri, 09 May 2008 07:00:00 PST

Bien Hoa Sugar Joint Stock Co (coded BHS) recently announced its business result in the first quarter of this year with 229.33 billion dong in revenue from sales and services provision, up 31.06% against the same period of last year and 10.5 billion dong in profit, rising 49.4% against the fourth quarter of 2007 and falling 42.24% from the same period of previous year.

First private airline appoints CEO

Fri, 09 May 2008 07:00:00 PST

Vietjet Aviation Joint Stock Co officially announced the appointment of Brian Presbury as Chief Executive Officer (CEO) of VietJetAir.

Red ink as listed firms post Q1 performance

Thu, 08 May 2008 07:04:05 PST

Financial results of listed companies in the first quarter were eagerly awaited by investors particularly when the market was seeing weak turnover. However, figures from websites of the HCM City Stock Exchange (Ho Chi Minh Stock Exchange) and Hanoi Securities Trading Centre (HaSTC) on May 4 showed that there was only a handful, of reports posted.

Greif, Inc. acquires Vietnam steel drum facility

Thu, 08 May 2008 07:00:00 PST

Greif, Inc. (NYSE: GEF, GEF.B) acquired Petro-Summit Mechanical Co Ltd, Vietnam, a subsidiary of Asian Steel Co Singapore. Located in Vung Tau Province, the facility manufactures 200-litre steel drums serving the Mekong hinterland, the main commercial area of Vietnam. It is Greif's first plant in the country.

Shinpetrol releases Q1 report

Thu, 08 May 2008 07:00:00 PST

The Vinashin Petroleum Investment and Transport Joint Stock Co (Shinpetrol), a subsidiary of the Vietnam Shipbuilding Industry Group, recently reported that ending the first quarter of 2008, the company reached total asset of over 2.427 trillion dong, 262.291 billion dong in revenue from sales and service provision, nearly 84.251 billion dong in combine profit, more than 3.282 billion dong in revenue from financial activities.

Lu Gia power and machinery firm to scale up chartered capital to 80b dong

Thu, 08 May 2008 07:00:00 PST

The Lu Gia Mechanical Electric Joint Stock Co (coded LGC)'s shareholders' annual meeting recently passed the plan to offer five million shares to hike its chartered capital from the current of 30 billion dong to 80 billion dong. In particular, 4.5 million shares will be offered to the existing shareholders at the ratio of 1.5 new shares for one share held with the offering price of 15,000 dong per share, 150,000 others will be sold to the company's employees at the price of 15,000 dong per share and the remaining 350,000 shares will be allocated to the strategic partners including Saigon Automobile Mechanical Engineering Corp (Samco), HCM City-based Technique Infrastructure Investment Joint Stock Co (CII) and other strategic shareholders.

Agribank-VGFM Co's business license revoked

Thu, 08 May 2008 07:00:00 PST

The State Securities Commission (SSC) on May 5 issued a decision to revoke the business licensee No9dated on December 21, 2006 of Agribank-VGFM Securities Investment Fund Management Joint Venture Co (AVIM).

Cavico Corp received decision to invest and construct Hoa Binh ecological and cultural zone

Thu, 08 May 2008 07:00:00 PST

Cavico Corp (Cavico) (OTCBB:CVIC) today announced that Luong Son International Tourism Investment JSC, its wholly own subsidiary, has been authorised by Hoa Binh People's Committee to invest and construct the Hoa Binh ecological and cultural zone known as "Ecozone."

Gemadept puts up in Saigon Commodity Service JSC

Thu, 08 May 2008 07:00:00 PST

HCM City Department of Planning and Investment recently granted license for the establishment of Saigon Commodity Service Joint Stock Co (SCSC) operating in fields of petroleum trading agent, building bridge, port, civil works, delivery service with an initial chartered capital of 300 billion dong.

PAC targets a 55b dong profit this year

Thu, 08 May 2008 07:00:00 PST

The Southern Dry Cell and Storage Battery Joint Stock Co (Pinaco-coded PAC)'s shareholders' meeting recently passed this year's business plan with 1.2 trillion dong in revenue and 55 billion dong from after tax profit.

HK-listed Nine Dragons to buy 60% of Vietnam paper mill for US$22.8m

Thu, 08 May 2008 07:00:00 PST

China's Nine Dragons Paper (Holdings) said it will buy 60% of Vietnam's Cheng Yang Paper Mill Co for US$22.8 million.

PV Drilling posts 234.8b dong Q1 profit

Thu, 08 May 2008 07:00:00 PST

PetroVietnam Drilling and Well Services Joint Stock Co (PV Drilling) recently announced its business result in the first quarter of this year with 766.4 billion dong in revenue, rising 219% against the same period of 2007 and 234.8 billion dong from after tax profit, up 547% yoy.

Fuel price spikes delays Pacific Airlines route expansion

Thu, 08 May 2008 07:00:00 PST

Increasing fuel price has dealt a heavy blow to Pacific Airlines, forcing Vietnam's first low-cost carrier to postpone the schedule for its two new domestic services to Da Lat and Buon Ma Thuot cities in the Central Highlands region from this August.

Incomfish enlarges business scope

Wed, 07 May 2008 07:00:00 PST

Investment Commerce Fisheries Corp (Incomfish-coded ICF) yesterday May 5 announced that this year it plans to invest 250 billion dong in Tan Thanh industrial complex in the southern province of Dong Nai covering on an area of 100 hectares, another 48 billion dong in Linh Xuan realty project to build three-start hotel and trade centre in Thu Duc District in HCM City and 42.6 billion dong in Saga Service Trade and Production Ltd Co to join realty projects in HCM City.

Hong Kong logistics firm opens central Vietnam office

Wed, 07 May 2008 07:00:00 PST

Hong Kong-based OOCL, one of the world's leading container transport and logistics service providers, opened a branch office in central coastal Da Nang City earlier this month.

Vinamilk posts over 309b dong Q1 profit

Wed, 07 May 2008 07:00:00 PST

Vietnam Milk Joint Stock Co (Vinamilk) recently announced the business result in the first quarter of this year with over 1.808 trillion dong in revenue, up 30.65% or 424.207 billion dong against the same period of last year, and 309.2 billion dong from after tax profit, decreasing 3% or 9.59 billion dong from last year.

Vietcombank fund management arm releases 2007 fiscal report

Wed, 07 May 2008 07:00:00 PST

The Vietcombank Fund Management Co (VCBF) recently released its 2007 brief fiscal report with nearly 133.348 billion dong in total assets including 3.56 billion dong in fixed assets and 93.64 billion dong in ownership capital.

Vina-Halla invests US$28m in My Xuan industrial zone

Tue, 06 May 2008 07:00:00 PST

Vina-Halla Heavy Industry Ltd Co, Korean-based Halla Energy & Environment Group (HEE)'s member recently officially started construction on building heavy industry plant covering on an area of 20 hectares in My Xuan 1 industrial zone in the southern province of Ba Ria Vung Tau.

POT reports performance

Tue, 06 May 2008 07:00:00 PST

Postal Equipment Joint Stock Co (POT) recently passed the 2008 financial targets with revenue of 780 billion dong, pre-tax profit of 45 billion dong and a dividend of 16%.