Advertisements Vietnam’s Techcombank , fresh after raising $922 million from global investors, aims to expand aggressively into retail banking to capitalise on booming demand for an array of financial services, its senior executives said on Friday. “On the lending side, we are having an increasing orientation toward retail, a disproportionate amount of which would beContinue reading “Vietnam’s Techcombank pursues retail push after major IPO”
Category Archives: Finance
Vietnam banker gets $937 million fine, 30-year jail term for embezzlement
Advertisements A court in Vietnam has sentenced a former banking executive to 30 years in prison and ordered that she pay more than US$700 million (S$936.5 million) in damages caused at a domestic bank, state media reported on Friday (June 1). Hua Thi Phan, 71, embezzled US$278 million from the Vietnam Construction Bank, formerly knownContinue reading “Vietnam banker gets $937 million fine, 30-year jail term for embezzlement”
Most markets rise; Vietnam stock market gains over 2%
Advertisements Most Southeast Asian markets rose in thin trade on Friday, with Vietnam gaining 2.2% and the Philippines climbing 1.8%, as investors hunted for bargains, following last month’s fall. In Vietnam, industrials were among the top gainers, as factories saw record growth in new export orders last month. Reuters reports Vietjet Aviation climbed nearly 7%,Continue reading “Most markets rise; Vietnam stock market gains over 2%”
Chinese Mobile Payments Systems Prove Useful In Vietnam…For Tax Evasion
Advertisements The growing Chinese tourist class has proven, in recent months, to be one lucrative pot of change for Chinese mobile payments firms. With good reason as well; those who have time and cash enough to go traveling are likely to spend that cash in good amounts. Those who spend mean cash to the paymentContinue reading “Chinese Mobile Payments Systems Prove Useful In Vietnam…For Tax Evasion”
Investors in Vietnam should accept short term pain for long term gain: Why?
Advertisements Andrew Dalyrimple, investment manager at Aubrey Capital Management, went to Vietnam recently at attend an investment conference. In a wide-ranging and detailed commentary, he outlines his expectations for one of Asia’s fastest growing economies (6.8% growth in GDP expected this year). In the heat of the day, (a steady 31 degrees, with high humidity,Continue reading “Investors in Vietnam should accept short term pain for long term gain: Why?”
Ministry insists on ’99-year policy’, but economists oppose
Advertisements While National Assembly’s deputies believe that allocating land for up to 99 years in special economic zones (SEZs) is not a good policy, the Ministry of Planning and Investment (MPI) still persists in its opinion, saying that this would be an outstanding preference to attract investors to SEZs. Pham Chi Lan, an economist, commentedContinue reading “Ministry insists on ’99-year policy’, but economists oppose”
High Profitability And High Volatility In The Vietnamese Stock Market
Advertisements Vietnam Equity FVMR Snapshot that FVMR stands for Fundamentals, Valuation, Momentum, and Risk. Those are the factors that we look at to get an understanding of the market. This Vietnam Equity FVMR Snapshot is a bottom-up aggregate of 74 Vietnamese companies and all forecasted figures are consensus estimates. seekingalpha.com reported Fundamentals: High profitability in VietnamContinue reading “High Profitability And High Volatility In The Vietnamese Stock Market”
Central bank approves VPBank’s capital charter hike
Advertisements The State Bank of Vietnam (SBV) has approved the plan of Vietnam Prosperity Joint Stock Commercial Bank (VPBank) to increase its current charter capital. VNS reported, the hike from VND15.7 trillion (US$690 million) to VND25.2 trillion was approved at a VPBank shareholder meeting held on March 19, 2018. The bank’s management board will takeContinue reading “Central bank approves VPBank’s capital charter hike”
Nearly all banks make a profit in first quarter
Advertisements Most banks reported satisfactory profits for the first quarter of 2018, but their asset exploitation and capital use efficiency varied. Banks’ Q1 finance reports showed that they made fat profits in the quarter. Some banks reported profits increasing by two or three times in comparison with the same period last year. Vietcombank, for example,Continue reading “Nearly all banks make a profit in first quarter”
Vietnam court upholds key decision in landmark ‘Super Swindler’ fraud case
Advertisements A court has upheld a key judgement in Vietnam’s biggest-ever fraud case, spotlighting the country’s ability to tackle financial crime at a time when foreign banks are heeding government calls to invest. The Ho Chi Minh City People’s High Court rejected an appeal yesterday against a judgment that the central perpetrator of a 4.9trnContinue reading “Vietnam court upholds key decision in landmark ‘Super Swindler’ fraud case”
Market Focus: Shares Pushing Higher 7.23% Over the Last Month: Vietnam Manufacturing and Export Processing Ltd (0422.HK)
Advertisements After a recent market scan, we can see that Vietnam Manufacturing and Export Processing Ltd (0422.HK) shares have moved 7.23% higher over the past month. Tracking performance over the last 5 sessions, shares have moved 2.30%. Over the last half-year, shares have changed 1.14%. Over the last full year, shares have moved -7.29% –Continue reading “Market Focus: Shares Pushing Higher 7.23% Over the Last Month: Vietnam Manufacturing and Export Processing Ltd (0422.HK)”
Land price surge raises concerns in Vietnam’s coastal province
Advertisements Investors with deep pockets have flocked to a coastal area in the south-central province of Phu Yen, offering to buy seaside land at unreasonably high prices, sparking concerns of a possible land fever that may well lead to a real estate bubble. The buyers, reportedly hailing from Hanoi and other northern provinces, are willingContinue reading “Land price surge raises concerns in Vietnam’s coastal province”
Vietnam Is a Frontier Market for Good Reason
Advertisements Anyone visiting the vibrant and bustling metropolis that is Ho Chi Minh City would hesitate to call Vietnam a frontier market. There are growing calls for the Southeast Asian economy to be included in the MSCI Emerging Markets Index. After all, even Argentina, which is seeking another IMF rescue, is on the watch listContinue reading “Vietnam Is a Frontier Market for Good Reason”
Bloomberg: Brokers, Miffed by MiFID? Try Vietnam
Advertisements The frontier market’s securities boom is luring overseas professionals. Brokers tired of dwindling bonuses may find riches await them in Vietnam. According to a report by Bloomberg, local securities companies have been making some high-profile hires in recent months. Mike Lynch, formerly a managing director at CIMB Group Holdings Bhd. in New York, movedContinue reading “Bloomberg: Brokers, Miffed by MiFID? Try Vietnam”
F&B firms strive to hit safety goals
Advertisements A production line of bottled water at a factory of Suntory PepsiCo Viet Nam Beverage’s branch in Tra Noc 2 Industrial Park in the southern province of Can Tho. With a market of 93 million people, Viet Nam has seen rapidly growing consumer demand for food and beverage (F&B) products, offering great opportunities forContinue reading “F&B firms strive to hit safety goals”