Advertisements The AGM season peaked in April as more than 900 companies already held their AGM. Key takeaway from Rong Viet Securities is most companies believe their business will find difficulty to grow at 2017–2018 growth rates. Based on rough estimates, planned revenue growth (among 925 listed companies) has gradually decreased from 26% in 2017,Continue reading “Key takeaways from Rong Viet Securities May 2019 Strategy Report”
Category Archives: Finance
GoBear, Asia’s fastest-growing fintech startups has raised US$80M in funding
Advertisements GoBear, a Singapore-based financial comparison platform has been funded US$80 million in funding by Dutch venture capital fund Walvis Participaties and financial services provider Aegon NV. The money would be used to develop products and technology, expand its partner network and fill key positions, the company said in a statement. Adrian Chng, CEO ofContinue reading “GoBear, Asia’s fastest-growing fintech startups has raised US$80M in funding”
Vietnam may be added to expanded U.S. list on currency manipulation: Bloomberg
Advertisements The Trump administration will expand the number of countries it monitors for currency manipulation in an upcoming report expected this month, and Vietnam may be named a currency manipulator, Bloomberg reported on Thursday. Citing people familiar with the matter, Bloomberg said the number of countries on the watch list will rise to about 20Continue reading “Vietnam may be added to expanded U.S. list on currency manipulation: Bloomberg”
Homestays a cheaper, more convenient option than traditional rentals
Advertisements Online booking services like Airbnb are offering prices 30-40 percent lower than traditional apartment services, a recent report says. While high-end apartment supply is limited and mostly focuses on leaders of foreign enterprises, online bookings are increasing their share with more competitive prices in Grade B and C accommodations, says a report prepared byContinue reading “Homestays a cheaper, more convenient option than traditional rentals”
More than 350 foreign investors join VN’s securities market in April
Advertisements More than 350 foreign investors were granted securities trading codes in April, bringing the total number of foreign investors able to participate in the Vietnam’s securities market to nearly 30,240, according to the Vietnam Securities Depository (VSD). Of them, 44 were institutional investors and 312 individual investors. In April, VSD removed securities trading codesContinue reading “More than 350 foreign investors join VN’s securities market in April”
The State Bank of Viet Nam injects $236 million to support banks’ liquidity
Advertisements The State Bank of Viet Nam (SBV) net injected more than VND5.51 trillion (US$236.69 million) into the market last week to support the liquidity of the banking system. According to the latest report from Bao Viet Securities Company (BVSC), the SBV issued new seven-day bills worth VND49.99 trillion at an interest rate of 3Continue reading “The State Bank of Viet Nam injects $236 million to support banks’ liquidity”
Vietnam’s credit growth expands in first months of 2019
Advertisements The credit growth of Vietnamese banks as of April 17 this year had expanded by 3.23 per cent against the end of 2018, the State Bank of Viet Nam (SBV) reported. The rise was lower than that of the same period last year, when the credit rose by 5 per cent. Lending rates inContinue reading “Vietnam’s credit growth expands in first months of 2019”
Vietnam’s dong falls to new low against the dollar
Advertisements The Vietnamese dong continued to fall against the U.S. dollar, going beyond its lowest level ever recorded on April 24. On Wednesday morning the State Bank of Vietnam once again raised the reference price for $1 to VND23,046, an increase of VND16 from the previous day, and up nearly VND50 from a month ago.Continue reading “Vietnam’s dong falls to new low against the dollar”
HCMC wants $54 billion foreign investment
Advertisements Ho Chi Minh City is seeking $53.8 billion worth of foreign investment in 210 projects with a focus on infrastructure. City officials said at a conference Wednesday they want investment in nine areas including transport, infrastructure, agriculture, commerce-service, education, and healthcare. Transport leads with projects worth $41.9 billion awaiting funds, followed by infrastructure ($2.1Continue reading “HCMC wants $54 billion foreign investment”
Local banks are racing to develop retail markets
Advertisements Seeing the potential from a population of 96 million and the 2018 per capita GDP of 2,590 USD, Vietnamese banks are racing to develop retail markets. Retail banking is closely associated with consumer lending. In 2008, total outstanding loans for consumer lending accounted for only 3.8 percent of all outstanding loans, but now itContinue reading “Local banks are racing to develop retail markets”
Asia stocks fall, Vietnam stocks quiet as trade war jitters continue
Advertisements Stock markets across Asia, inclusive of Vietnam slumped again on Wednesday as investors get increasingly nervous about a potential US-China trade showdown. Japan’s Nikkei Index (N225) dropped for the second straight day, falling more than 1.5% in early trading, while Hong Kong’s Hang Seng Index (HSI) and the Shanghai Composite Index (SHCOMP) both openedContinue reading “Asia stocks fall, Vietnam stocks quiet as trade war jitters continue”
What’s new with Vietnam’s regulation on use of foreign currencies, which takes effect from this May ?
Advertisements The State Bank of Vietnam (SBV) has issued Circular No. 03/2019/TT-NHNN on amending and supplementing a number of articles of Circular No. 32/2013/TT-NHNN guiding the implementation of regulations on restricting the use of foreign currencies in Vietnam. Accordingly, Circular 03 supplements regulations concerning the cases in which the use of foreign currencies is allowedContinue reading “What’s new with Vietnam’s regulation on use of foreign currencies, which takes effect from this May ?”
Vietnam stock market plunges as 70 percent of stocks close in red
Advertisements Vietnam’s benchmark VN-Index fell 16.17 points (1.66 percent) to 958 with most stocks losing value in Monday’s afternoon session. This is the lowest point of VN-Index since mid-February. The index represents stocks listed on the Ho Chi Minh City Stock Exchange (HoSE), which accounts for around 90 percent market cap of all listed stocksContinue reading “Vietnam stock market plunges as 70 percent of stocks close in red”
The Asia Commercial Bank to meet Basel II standards
Advertisements The Asia Commercial Bank (ACB) has become the seventh bank in Vietnam to meet Basel II standards, the second edition of the Basel Accords. Late last week, the bank was officially given approval from the State Bank of Vietnam (SBV) to apply Basel II standards, raising the number of Vietnamese banks meeting the globalContinue reading “The Asia Commercial Bank to meet Basel II standards”
Petrol trader seeks help to promote sluggish biofuel consumption
Advertisements HCM City One-Member Limited Liability Oil & Gas Company (Saigon Petro) is seeking Ministry of Industry and Trade for support following low demand for E5 biofuel. According to Saigon Petro, the average proportion of the firm’s E5 biofuel out of the total petrol sales was 30.06% last year. However, the rate was just 25.58%Continue reading “Petrol trader seeks help to promote sluggish biofuel consumption”