A court in northern Vietnam on Friday Vietnam jails 2 ex-police generals for protecting a multimillion-dollar online gambling ring as the Communist government steps up its crackdown on graft.
Former national police chief Phan Van Vinh and former head of hi-tech crimes police department Nguyen Thanh Hoa were sentenced to nine and 10 years respectively after being convicted of abuse of power at the end of the three-week trial by the People’s Court in Phu Tho province.
Two gambling ring leaders, Nguyen Van Duong, former chairman of the private company CNC, and Phan San Nam, former chairman of VTC Online joint stock company, were sentenced to 10 and five years respectively for organizing gambling and money laundering.
The ring had operated from April 2015 until it was broken up in August last year with some $425 million having been gambled online. The ring made $200 million in illegal profits, according to the government.
They were among 92 defendants involved in the case.
“Vinh’s acts have caused discontent among the public, reduced the reputation of the police force and people’s trust,” state-run Tuoi Tre newspaper quoted the verdict as saying. “Vinh had intentionally covered up the crimes committed by Duong and his accomplices.”
Vinh, who was general director of the General Department of Police under the Ministry of Public Security until his retirement two years ago, was arrested in July while Hoa was arrested a month earlier. Following their arrests, the ministry stripped both men of their ranks.
The two allowed CNC company to rent an office from the General Department of Police, which indirectly facilitated the crimes and hindered their staff and other agencies in investigating the gambling ring, the verdict said.
During the hearing, prosecutors quoted Duong as telling police investigators that he bribed Vinh with $2.8 million, a $7,000 Rolex watch and gave Hoa $936,000, state media reported.
The verdict, however, said there has been no evidence to prove the two former police generals were involved in bribery.
The foreign media were not allowed to cover the trial.
Vietnam’s unprecedented crackdown on graft had previously focused on corruption at the state energy giant PetroVietnam and the banking sector but appears to be spreading to the police force.
Scores of PetroVietnam senior officials and bankers have been brought to trial, the most high-ranking of them being Dinh La Thang, a former Politburo member who was sentenced to a total of 31 years in prison for mismanagement in two separate cases earlier this year dating to his time leading PetroVietnam.
He was the first Politburo member to be jailed in decades.
In 9M 2018, HAX experienced a growth of 9% YoY in NPAT as gross profit margin (GPM) in the automobile business segment which improved significantly. We believe that GPM of this activity will remain good in 4Q 2018, resulting in an expectation of strong performance in the last quarter of this year.
4Q 2018 GPM of the automobile business may remain as high as that of the two recent quarters.
GPM of HAX’s core business has benefited from difficulties in the automobile market since 2Q 2018. Although CBU cars could not enter the Vietnamese market from January 2018 due to Decree 116, the lack of automobile supply has just started to become evident since 2Q 2018. In 1Q 2018, HAX had a large number of inventories, which were cars from 2017. Hence, HAX offered a discount to clear its old inventories. However, since 2Q 2018, as other automobile brands, supply of Mercedes – Benz brand could not meet pent-up demand. In 2Q and 3Q 2018, the firm therefore did not have to give customers a discount to boost sales as they did in 1Q 2018, leading to an uptick in GPM. Given this, GPM of this segment increased from 2.2% and 4.7% in 2Q and 3Q 2017 to 6.0% and 5.6% in 2Q and 3Q 2018, respectively.
In the last quarter of 2018, the shortage of automobiles may remain supportive of GPM, HAX’s core business. Currently, Mercedes – Benz Vietnam has not had enough CBU and CKD vehicles to meet the high domestic demand. In terms of CBU cars, long inspection time has forced the firm to delay deliveries to customers. According to Decree 116, once vehicles arrive in Vietnam, a sample is selected from every batch of imports to run tests for emission, quality and technical safety. The inspection is repeated shipment after shipment even if it is the same car model. Therefore, after arrival at the port, it takes around two to three months for delivering vehicles to customers. Regarding CKD automobiles, change in VIN convention of GLC car line, which is the key car line of Mercedes – Benz Vietnam (MBV), has made MBV postpone registry for those cars in recent months. Hence, delivery of these cars has been delayed. To sum up, as Mercedes – Benz cars demand exceeds supply, we expect that selling price will remain favorable for HAX in 4Q 2018. We forecast that GPM of the automobile business in 4Q 2018 will remain high, at around 5.6%. As a result, the figure in 2018 is expected to reach the peak of 4.9% seen over the last few years.
Figure 1: Gross profit margin of the automobile business per quarter
Source: HAX, RongViet Securities
Incentives could be significant in 4Q 2018.
Due to the lack of automobile supply, MBV decided to decrease sales KPIs for its dealers. We estimate that MBV would cut down by 20% the sales targets of its dealers. Therefore, adding forecasted sales volume of 625 cars in 4Q 2018 to sales volume of 1,645 cars in the first three quarters of 2018, we believe that HAX can achieve MBV’s 2018 sales KPIs. However, in 2018, MBV has faced challenges in importing CBU cars and change in VIN convention of the key car line (GLC). We expect that the amount of incentives may decrease by 20% YoY to VND 87 billion. However, excluding incentives in the first three quarters of this year, the figure in 4Q 2018 may still increase by 10% YoY to 28 billion.
We believe that the 4Q 2018 performance will remain strong.
Although in 4Q 2018, supply of Mercedes – Benz cannot meet the high demand, we still believe a growth of 9% YoY in sales volume in the quarter is possible. Therefore, revenue in 4Q 2018 may reach VND 1,250 billion (+16% YoY). We expect that NPAT could witness a significant growth of 73% YoY to VND 45 billion in the fourth quarter thanks to improved profit margin of the core business and the high amount of incentives. Therefore, although earnings of HAX in the first three quarters were not so impressive, we still expect 2018 NPAT to reach VND 108 billion (+29% YoY), corresponding to an EPS of 3,085 VND/share.
At current market price, HAX is trading at a P/E ratio of 5.2x, which we consider quite attractive given the bright outlook in 4Q 2018 and 2019. In the short – term, we believe that the estimated strong performance in 4Q2018 could be a catalyst to support the stock price. Furthermore, we also expect a slight improvement in 2019 results thanks to anticipated growth in the automobile market next year. We have an accumulate recommendation on the stock.
Despite a decreasing global trend, the amount of foreign direct investment (FDI) in Vietnam grew by 92.2 percent, surpassing 15 billion dollars in the first 10 months of 2018.
The Ministry of Planning and Investment (MPI) indicated on Monday that during this period, 2,458 new projects were authorized under this regime, and of the already existing ones, 954 increased their capital or bought shares for 6.543 billion dollars, a year-on-year growth of 35.8 percent
With GBS’s comprehensive legal understanding of the international business environment in Vietnam, GBS can supply clients with fundamentally beneficial legal advice in areas of foreign investments. Whether it is:
Setting up a 100% foreign invested or joint venture enterprise, joint stock company
Registration and de-registration of branches, businesses and representative offices
Finding partnerships, settling negotiations
Review and drafting of legal documents…
Hereunder some key terms and conditions for our Company Incorporation Services:
Pre-licensing services:
(i). Consulting:
Attending various meetings with client to explain and confirm the main principles for setting up the Company;
Preparing a list of legal documents required for the appraisal of the Company. Based on the information provided by client, GBS will review and incorporate these documents into the application file;
(ii). Drafting documents:
Drafting the application form for the Investment Certificate;
Drafting the Charter of the Company;
Drafting an outline of the Feasibility Study for the establishment of the Company based on the client’s business intention which shall include descriptions of the activities and operational scope of the Company, the invested capital, the scale of services, and the efficiency of the Company.
Incorporating:
Reviewing and assembling all required documents to be included in the application file for the Investment Certificate;
Representing client to submit the application files for the Investment Certificate; and
Acting as client’s attorney to follow up with the competent authorities regarding the establishment of the company and obtaining the Investment Certificate.
Post-licensing services:
Upon the issuance of Investment Certificate of the Company, GBS shall assist the newly established Company in complying with post licensing requirements:
Registering and obtaining the Company’s seal;
Preparing necessary dossiers and representing the Company to submit the application for the Company’s Tax Code and Customs Code with the competent tax authorities.
Additional services:
Together with the legal services as aforementioned, GBS would be happy to assist client various legal issues related to business, including:
Advisory services on opening bank account;
Personal income tax registration, declaration and finalization for expatriate and local employees;
Advisory services on employee recruiting and labor issues; Drafting and registering statutory labor collective agreement and internal labor regulations.
Given the experience in working with various international and local companies, the GBSs assistance to client’s business in Vietnam would be of great assistance to the establishment of the Company.
Future Growth of Seed Market in Vietnam is Expected to be Led by Rice Seed and Surging Hybridization Rate: Ken Research
Vietnam Seed Market is expected to reach USD 442 Million by 2018.
The market leaders in rice seed market, NSC and SSC are expected to maintain focus on research and development of high quality and high yielding hybrid rice seeds to compete with other players in the seed industry.
Ken Research announced its latest publication on “Vietnam Seed Industry Outlook to 2018 – Rice Seed and Hybridization to Drive Future Growth” which provides a comprehensive analysis of the seed market in Vietnam. The report covers various aspects such as market size of seeds by sales value and production volume, market segmentation on the basis of hybrid and non hybrid seeds, by types of seeds (rice, corn, inbred and Vegetables, Cotton, Soybean seeds) and by formal and informal types of market structures. The report is useful for seed producers, wholesalers, distributors of seeds and new players venturing in the market.
The seed market in Vietnam has witnessed a growth in the recent years on account of rising demand for seeds especially rice and corn in domestic and international seed markets, fueled by growing participation of foreign players in the Vietnam seed market. The market revenue has grown at a CAGR of 1.7% from 2008-2013. The surge in growth is majorly originated from growth in rice seed production in the country. NSC and SSC are the major players in the rice seed market whereas Syngenta, Bioseed and other foreign players which dominate the corn seed market in the country. According to the research report, the Vietnam seed market will grow at a CAGR of 2.5% from 2013-2018 and will reach USD 442 million by 2018.
“While increasing domestic and international demand for rice and corn seeds will result in increased production of these seeds in Vietnam, rising competition due to increasing foreign players in the seed industry in the country would be one of the major challenges which will affect the growth of this industry in the future”, according to the Research Analyst, Ken Research.
Key Topics Covered in the Report:
Vietnam Seed Industry
– Market Size by seeds sales value and production volume
– Market Segmentation by
o Hybrid and Non Hybrid Seeds
o Types of Seeds (Rice, Corn and Others)
o Formal and Informal Market Structure
– Trends and Development
– SWOT Analysis
– Competition and Market Share
– Future Outlook and projections
– Macro Economic Parameters
Key Products Mentioned in the Report:
Rice Seeds
Corn Seeds
Hybrid Rice Seeds
Hybrid Corn Seeds
Other Seeds (Vegetables, Cotton, Soybean and Others)
Companies Covered in the Report: VINASEED
Southern Seed joint Stock Company
Syngenta
Bioseed
Monsanto
The latest edition of the FIFA World Rankings has been updated, and it makes for some interesting viewing. The list, which is regularly updated to ensure that the recent performances of International football-playing nations are considered, has yet again thrown up some surprises. What is noteworthy however, is where the top Southeast Asian countries rank on this list.
From what we can see, it is the AFF Suzuki Cup 2018 semifinalists Vietnam (100) who are currently the highest-ranked team from the region as per the FIFA Rankings. The Golden Dragons have had a terrific run leading up to the AFF Suzuki Cup, and have performed admirably so far in the tournament as well. Fox Sport Asia reports.
Philippines, who will face Vietnam in the semifinal, are place at 114 while another semifinalist Thailand are ranked 118. Myanmar are 139, Indonesia are 160, Singapore are 165 and Malaysia are 167 in the rankings table.
Keisuke Honda’s Cambodia is further behind at 172 with Laos occupying the 184 position. It is hard to ignore the strides made by Southeast Asian football in recent times, but owing to the recent glory that has been enjoyed, the teams would have liked to be slightly further up the field.
The top 10 teams in the ASEAN region is as follows:
100. Vietnam
114. Philippines
118. Thailand
139. Myanmar
160. Indonesia
165. Singapore
167 Malaysia
172. Cambodia
184. Laos
196. Brunei
197. Timor-Leste
The top 15 in the Asian rankings looks like this:
29. Iran
41. Australia
50. Japan
53. Korea Republic
69. Saudi Arabia
74. Syria
76. China PR
79. UAE
81. Lebanon
83. Oman
88. Iraq
91. Kyrgyz Republic
93. Qatar
95. Uzbekistan
97. India
At the very top of the rankings, the usual suspects rule the roost. Belgium are ranked first, followed by World Cup winners France and Brazil round off the podium spots on the rankings as we speak.
Police in Lam Dong, the Central Highlands province has confirmed that they had apprehended Do Danh Hien, 33, a shooting coach from Saigon.
Hien was previously a professional shooter on the national team.
He is also a teacher at a Middle School and a shooting instructor at a sports center in Saigon.
According to Tuoi Tre, a local media report, Hien introduced a group of buyers from Lam Dong Provice to an arms dealer at a hotel in Saigon on November 22.
The group purchased a Glock 19 pistol, and Hien later received VND20 million ($864) for brokering the deal.
On November 23, police identified the buyers and conducted an administrative inspection upon their return to Lam Dong.
Officers found the handgun in the suspects’ luggage, along with 55 bullets, two cans of pepper spray, a folding knife, and a dagger.
The Institute of Criminal Sciences under the Ministry of Public Security examined the gun and classified it as a military weapon.
The suspects were later identified as Pham Van Tai, 36, Ho The Quyen, 27, and Nguyen Minh Tuan, 23.
According to their statements, they wanted to buy a gun and contacted a man Saigon, the man asked Hien, the shooting instructor, to find a dealer.
Police officers have expanded their investigation to identify the original origin of the weapon.
Vietnam bans civilians from storing, using or trading guns and ammunition in any form.
The Ex-Chairman of Vietnam’s BIDV, the second largest listed bank has been arrested for alleged violations of banking regulations, the Southeast Asian country’s public security ministry said on Thursday.
Tran Bac Ha, former head of the state-owned Joint Stock Commercial Bank for Investment and Development of Vietnam, or BIDV, was accused of “violating regulations on banking operations”, the Ministry of Public Security said on its website.
According to local media reports, Vietnam’s police have arrested two other former senior executives at the bank and placed another under house arrest for alleged involvement in the case, the ministry said without elaborating.
Ha, who retired from his position at the bank in 2016, was not reachable by phone.
BIDV said in a statement shortly after the announcement of Ha’s arrest that it had been reporting violations by the four executives to Vietnamese authorities.
“BIDV affirms that its entire operations are not negatively affected by the above information,” the bank said.
Vietnam’s central bank said in a statement the violations happened “several years ago”.
“All BIDV operations are normal with stable liquidity and all benefits of customers and depositors are ensured,” the State Bank of Vietnam said.
The arrests come amid a widening crackdown on corruption in Vietnam, which has seen the Communist-ruled government launch investigations into hundreds of public officials, and several executives at state-owned enterprises jailed.
BIDV, 95.28 percent owned by the central bank is Vietnam’s second-largest listed bank by market value after Vietcombank.
Last month, BIDV said it wanted to issue new shares to KEB Hana Bank, a unit of Hana Financial <086790.KS>, which would give the South Korean bank a 15 percent stake.
In June, the Communist Party of Vietnam said Ha and two other executives at the bank had committed violations in lending 4.7 trillion dong ($201 million) to 12 companies involved in a corruption case at Vietnam Construction Bank.
Vietnam has opened 427 corruption cases this year to investigate 889 officials, its chief government inspector said this month.
Reporting by Khanh Vu and Mai Nguyen; Editing by James Pearson and Nick Macfie on Reuters
Vietnam, a neighbor of China has expressed concerns over interest rates charged by China for its loans.
Interest rates from Chinese official development assistance (ODA) loans are nearly double those of other countries, coupled with less attractive loan terms. Vietnam’s Ministry of Planning and Investment (MPI) has expressed concern over ODA loans from China, according to reports in local media.
According to a report by By Dipanjan Roy Chaudhury on India Times, Chinese ODA loans carry interest rates of 3% per year, higher than that of Japan (0.4 – 1.2%), South Korea (0 – 2%), or India (1.75%).
According to the ministry, preferential credit loans from China are similar to export credit, which are conditional loans, referring to the recipient country needing to adhere to a number of project-related demands regarding the use of Chinese contractors, among others, coupled with less attractive loan terms compared to other donors.
This would some point make the actual loan amount much higher than cases with competitive biddings.
Moreover, Chinese loans are subject to 0.5% of commitment fee and 0.5% of administrative fee, while loan’s duration and grace period are shorter than those of other donors, standing at 15 years and 5 years, respectively.
All Chinese preferential loans are provided through the Export-Import Bank of China (Exim Bank).
“Chinese preferential loans are only suitable for projects with direct source of income and repayment capacity,” the MPI stated.
Moreover, some projects using Chinese ODA, contractors and equipment are experiencing delay, low quality and increasing investment capital. The most notorious case is the Cat Linh-Ha Dong skytrain project in Hanoi, which has four times extended the initial deadline and incurred a cost overrun of US$316 million to US$868 million.
Notably, one third of the 12 large-scale loss-making projects of the Ministry of Industry and Trade are financed by Chinese ODA loans, including Ninh Binh fertilizer plant, Ha Bac fertilizer plants, and Chemical, and Thai Nguyen Iron and Steel plant- phase 2.
Vietnam International Bank (Upcom: VIB) has received approval from the State Bank of Vietnam (SBV) to apply capital adequacy ratio following Basel II standards.
This approval followed SBV’s Circular No 41/2016/TT-NHNN on regulating capital adequacy ratio for banks, branches of foreign banks, effective from January 1, 2019.
“Meeting strict Basel II standards, VIB is capable of operating safely in accordance with advanced general rules of developed countries around the world to prevent credit, market and operation risks,” said Mr. Han Ngoc Vu, CEO of the bank.
Basel II is the second edition of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on banking supervision.
Basel II comprises minimum capital requirements, supervisory review and market discipline. It aims to enhance competition and transparency in the banking system and make banks more resistant to market changes.
Three years ago, SBV selected the first 10 commercial banks to pilot Basel II standards. To date, the only private bank is VIB and Vietcombank – a state-owned one are the two banks among 10 to join the pilot scheme successfully.
“The successful implementation of Basel II helped VIB develop business strategies and better form customer, products, risk management and price policy to optimize capital and risk assets,” Vu added.
Previously, in July 2018, VIB became the fifth bank in Vietnam’s banking system to completely purchase all bad debts sold to Vietnam Asset Management Company (VAMC) to bring its real balance sheet back to “one number” – an important step to implement Basel II.
Vingroup to handle pilot project slated for launch next year on Phu Quoc Island
Vietnamese citizens will be permitted to gamble in a casino on Phu Quoc Island in a three-year pilot program expected to start next year, following approval by the central government, according to authorities in Phu Quoc, a popular tourist destination in the southern province of Kien Giang.
According to a report on Nikkei, the approval paves the way for other projects, including more casinos and auto and horse racing facilities, to cater to demand for betting entertainment in the country.
Leading Vietnamese real estate developer Vingroup’s facilities were chosen as the location for the casino pilot program, as the company is the sole investor and has developed related facilities on the island.
The casino, with capital investment of more than $2 billion, is part of an ecotourism and entertainment complex funded by Phu Quoc Tourism Investment and Development, a subsidiary of Vingroup.
The company’s resort and entertainment complex has been completed and is awaiting an official license to run the casino business, which is scheduled for startup early next year, according to a source in the company. The schedule for opening the casino was initially planned last December. The process to issue casino licenses in Vietnam requires several steps, such as investment and operations businesses.
The approval for the Phu Quoc facility was announced after criticism mounted about illegal gambling. Starting in March 2017, the government allowed locals to gamble at home in principle, but the relevant bodies are still working on details, including which casinos will be allowed to participate in the pilot project’s first stage.
Vietnamese who want to use the casinos must be over 21, able to prove a monthly income over 10 million dong ($427) and have no criminal record. But players will also have to pay a $50 entry fee and purchase a monthly permit costing $1,100.
In Vietnam, seven casino projects — Doson in the city of Haiphong, Aristo International Hotel & Casino in Lao Cai Province, Phoenix International Club in Bac Ninh, Crown International Club in Danang, the Grand Ho Tram Strip in Ba Ria-Vung Tau Province, and the Loi Lai Casino and Royal International Gaming Club in Quang Ninh Province — have been licensed for operation, but only foreigners will be permitted. Three others — Laguna Lang Co in Hue, Nam Hoi An in Quang Nam Province, and Corona Resort & Casino on Phu Quoc Island — are either under construction or awaiting operating licenses. Those projects have attracted investors from Canada, Australia, Hong Kong, Macau, Singapore and Vietnam.
Casino operators across Vietnam have applied to provide services to locals, but the Phu Quoc facility is the first to receive approval from the central government.
The legalization process for betting and gambling in Vietnam has been sped up as part of the government’s attempts to diversify sources of tax revenue, as access to international loans has been drying up.
The loosening of casino and sports betting is expected to attract both foreign direct investment and local private money to the industry. In May, Vietnam received $875 million for the first-stage development of a resort complex in Thua Thien-Hue Province from Singapore-based Banyan Tree Holdings. The investment scale is projected to increase to $2 billion by 2022, including an international-level casino. Some other investors, including U.S.-based Las Vegas Sands, Vietnam’s private cable operator Sungroup and golf resort operator FLC, are also showing interest in casino projects.
The gaming industry in Vietnam, including lotteries, slot machines, casinos and other betting, is expected to be a solid tax contributor if the activities are legalized and tightly controlled. The lottery segment, which is run by 64 state-owned companies, reported 64 trillion dong in revenue in 2014, contributing 20 trillion dong to the national coffers. Casino revenue in 2014 officially contributed 336 billion dong on revenue of 1.37 trillion dong, according to the Ministry of Finance. However, the casino market in Vietnam is estimated to be worth $1.2 billion, according to Union Gaming Securities Asia.
In a survey by the Institute of Regional Sustainable Development in 2015, more than 50% of respondents said allowing Vietnamese to gamble at home would boost tax revenue and eliminate the need to gamble overseas. It was reported that Vietnam loses around $800 million annually in foreign currency due to Vietnamese players travelling to Cambodia to gamble.
Industry observer and gaming professor Augustine Ha Ton Vinh said the move will significantly help boost foreign direct investment, improve local and regional tourism, and develop new skilled labor for the industry.
Meanwhile, Vietnamese authorities are handling a major online gambling case, after a crackdown on “using the internet to appropriate assets, organize gambling, gamble, illegally trade invoices and launder money” across the country. The case involved many organizations and persons who took advantage of information technology and the internet to organize online gambling through betting or card games. They attracted more than 42.95 million gambling accounts. The operators earned more than $384.4 million during the 28 months of operation.
Senior officials at the Ministry of Public Security, including former Lieutenant General and former Director General of the Police General Department Phan Van Vinh, and former director of the Anti-high-tech Crime Police Department Nguyen Thanh Hoa, were sentenced to prison for “abusing their position and power while performing their duties” in activities related to the online gambling ring.
At the meeting in November, Nguyen Anh Tri, a member of the national assembly, urged the government to place all gambling activities under its control and allow locals to bet and gamble, as long as they followed official regulations and legal frameworks, in order to reduce the illegal activities.
The world is a rapidly changing place, with new kinds of way to entertain ourselves arriving all the time. One of the single biggest transformations in modern times, though, is that of the internet. The web has been a breeding ground for massive companies that have the power, influence and ability to grow far beyond anyone else.
You see, the world is a changing place and in a 24-hour timeframe the internet can produce billions of hugely results.
From social media sites getting billions of likes – in a single day, Facebook sees over 6-billion ‘likes’ for posts – to Twitter producing half a billion tweets, it’s easy to see why the internet is such a big part of our lives.
With so many people using the internet – often using multiple platform at once, it’s so easy to get lost in the maelstrom of information. If you want to know who some of the genuine market leaders are, though, we will take a look below. Do you want to know how much big name companies such as Facebook and Twitter are pulling in on a daily basis?
Then let’s take a look at their growth.
Facebook
As one of the biggest companies in the world, Facebook produces over six billion likes in a single day. That same day will produce over 430,000 new profiles, too, meaning that in a single week we could see the best part of 3m new users on Facebook – so that six billion likes per day number is likely to keep on growing.
With over 8 billion views of videos and the like in a single day, too, it’s easy to see why so many people can spend their whole day on Facebook chatting, commenting and having fun their own way.
YouTube
Another super popular online company is that of YouTube, the massive media platform. YouTube is massive, and brings in a whopping 5 billion views of its videos every single day. That, though, is only likely to continue growing thanks to 432,000 hours of video uploaded in a single day.
With more variety to pick from and even greater opportunity, it’s easy to see why this is only going to keep growing and changing. The world of YouTube is all about making sure we can have fun, and there is now more content on YouTube than you could watch!
AirBNB
Once upon a time, if you wanted to go for a trip, you would need to work out a place to stay that would cost you (often) more than you wanted to pay. If you want to avoid such an issue, then you should use AirBNB: with over 1 million bookings in a single day, they are the kind of company that makes it easy for you to find a friendly place or person to stay with a fraction of the cost of a hotel.
If you are on the go and want to really enjoy yourself, AirBNB makes that so much simpler.
Uber
Move aside taxi ranks – Uber is here to stay. With over 10m Uber riders captured every single day, there is not a tax firm in the world that can match their reach. This allows Uber to be in total control of the market, and is one of the main reasons why it has become one of the most powerful tools on the road.
It has changed and transformed the industry for those who take part within driving for a living, seeing as many as 1,600 new drivers sign up to be part of Uber every day.
Google
Of course, it would be wrong to make a list of the most powerful online platforms without mentioning Google. Google has quickly established itself as a powerhouse in the online world, and proudly holds its position of dominance across the search engine industry with an average of 2 billion searches in any given day.
For comparison, other popular search engines like Bing produce around 873m searches in a single day. this shows you just how big Google is – it’s more than double the size of its next best competitor on the market, and probably outstrips all of its competition combined.
WhatsApp
If you want to send someone a message today, you will probably find that they want you to do so through the use of WhatsApp. The powerful chat app produces over 60 billion messages through its server in a single day, showing you the immense scale and reach that they hold over the rest of the chat industry.
Indeed, over 4 billion photos are shared and over 4 billion voice messages are recorded, too. With the increased safety and security that WhatsApp offers, it’s so easy to see why so many use it as their chat app of choice.
PayPal
Of course, payment processing giant PayPal is easily among the biggest companies online. In a single day, PayPal can see as much as $1bn in total payments come through their listing. This shows you just how many people are buying, selling and paying things through PayPal.
They produce around $35m in revenue in a single day, too, another testament to their stratospheric growth over the years into one of the most reliable systems for safe, secure and highly protected online payments that the web is ever likely to see: it’s hard to see anyone ousting PayPal now.
Amazon
Lastly but not certainly not least, we have Amazon. Producing around $487m in revenue in one single day, the online giant is one of the most powerful companies on the planet. As you might expect with a company that brings in so much, they were among the first companies to become rated as being worth as much as $1bn.
For that reason, it’s easy to see why Amazon is among the global leaders in eCommerce and retail. With around 13.6m purchases in a single year, it’s easy to see why Amazon is among the most popular sites in the world.
So, what kind of web companies do you like to use – do you make us of any of the above? We’d be surprised if you don’t use at least one.
Best Veneers have created a live ticker called “Internet in Real Time” which shows just how big these internet companies are.
Vietnamese nationals who were born or are a registered permanent resident in Hanoi, Ho Chi Minh City or Da Nang will be eligible for five-year multiple-entry visas to South Korea, starting December 3.
The news was announced on Monday by Jeong Woo-jin, Deputy Consul General of the Republic of Korea in Ho Chi Minh City, during a visit to Tuoi Tre (Youth) newspaper’s headquarters in Phu Nhuan District.
Vietnamese applicants who have proof, either through a birth certificate or residence book, that they are from one of the three major cities will enjoy the extended visa benefits, starting next week.
Visa holders will be allowed multiple entries into South Korea during the five-year validity period of their visa, with each stay lasting no longer than 30 days, Jeong said.
The new visa policy is an initiative from South Korea’s foreign ministry to make traveling to South Korea easier for residents in Vietnam’s most developed cities.
South Korea has plans to expand this visa policy to other Vietnamese cities and provinces in the future based on the results of its implementation in Hanoi, Ho Chi Minh City and Da Nang, the diplomat said.
In addition, all applicants from ASEAN member states, including Vietnam, who are professors, medical doctors, lawyers, or have earned a four-year undergraduate degree in South Korea or a graduate degree in a foreign country, will be eligible for ten-year multiple-entry visas to South Korea from December 3.
ASEAN, or the Association of Southeast Asian Nations, is a socio-economic and political bloc consisting of ten countries in Southeast Asia, which are Cambodia, Laos, Thailand, Brunei, Indonesia, the Philippines, Myanmar, Malaysia, Singapore, and Vietnam.
The new policy is the result of efforts from the Embassy and Consulate General of South Korea in Vietnam to improve the exchange of people between the two countries, the deputy consul general said.
In the first ten months of 2018, Vietnam welcomed over 2.6 million visitors from South Korea, more than the number of Korean visitors to India and any other ASEAN countries, he said.
Over 441,000 Vietnamese nationals visited South Korea in the same period.
Vietnam currently exempts visas for all South Korean nationals who intend to stay in the country for 15 days or less.
Pawn shop chain strikes deal with Irish investment firm.
The Mekong Capital-backed pawnshop chain F88 has raised growth capital from Granite Oak, a European investment firm, according an announcement on November 27.
“The new growth capital will be invested in our expansion in Ho Chi Minh City and to increase the loan book at 45 of our stores,” said F88’s CEO Mr. Phung Anh Tuan. “We also launched our first three stores in Ho Chi Minh City this week and are on track to have 300 stores nationwide by 2021.”
“F88 leads the consumer secured lending market in Vietnam, providing fast, smart, safe and friendly financial solutions to individual customers,” said Mr. Simon Wagner, CEO of Granite Oak. “F88 has good corporate governance, a strong management team, a strong company culture, and a robust IT platform. Vietnam’s consumer lending market is newly-developed and highly-fragmented and has large room for growth. We decided to invest in F88 to scale up the company and capture this growth.”
F88 has also officially signed partnership deals with Payoo and Momo to provide convenient financial services such as utility bill payments, e-wallet top ups, and withdrawals at all F88 stores.
F88 was established in 2013, pioneering the professionalization of pawn services in Vietnam, bringing fast, reliable and professional financial solutions to consumers, and disrupting the traditional pawn market. It received investment from Mekong Capital in 2016.
It currently provides loans based on collateral such as motor cars, motorbikes, mobile phones, and laptops. The company is also operating 45 stores in Hanoi and Vietnam’s north. Its competitive advantage lies in its professional management team with a strong commitment to bringing customers reliable, professional, friendly and fast financial services and changing social perceptions about the traditional pawn shop market.
Granite Oak is a Dublin-based investment firm operating across Europe with a wide variety of investments and actively providing senior debt funding for investment transactions. Over the years it has successfully invested in hotels, leisure facilities, commercial projects, and finance. The Granite Oak team has extensive expertise and market knowledge gained from working across multiple roles within the lending industry. Their debt advisory arm also specializes in raising money, with a strong network of financial institutions and debt funds.
On HSX on November 27 the VN-Index finished at 923.12 points, up 2.09 points (0.23 per cent), and the VN30-Index 895.30 points, up 0.25 points (0.03 per cent).
On HNX, the HNX-Index closed at 103.19 points, down 0.79 points (0.76 per cent), and the HNX30-Index 185.36 points, down 1.34 points (0.72 per cent), while the UPCoM-Index reached 52.14 points, up 0.03 points (0.06 per cent).
Liquidity on HSX was VND2.3 trillion ($98.7 billion) and on HNX was VND427 billion ($18.3 million).
Food and beverage stocks to gain ground included VNM, SAB, BHN and VCF, by 2.8, 1.6, 1.2 and 0.3 per cent, as KDC lost 1.2 per cent and TLG 0.7 per cent. BBC closed at its opening price.
In banking, VCI gained 1.4 per cent, EIB 0.7 per cent, SSI 0.5 per cent, and TCB 0.2 per cent, as VPB lost 2.8 per cent, TPB 2.1 per cent, VCB 1.1 per cent, CTG 0.9 per cent, MBB 0.7 per cent, BID 0.6 per cent, BVH 0.3 per cent, and MSN 0.1 per cent.
In energy, PVD rose 1 per cent as PVT lost 2.4 per cent, GAS 0.2 per cent, and PGD 0.1 per cent. PLX, NT2 and PPC closed at their opening price.
The Top 5 shares bought by foreign investors were VNM, HPG, SSI, GMD and STB.
GAS was the largest net sold share on HSX, followed by NVL, CTD, VJC, PVD and DHG.
VGC was the largest net sold share on HNX, followed by VCG, MST, CEO and TCS.
Ford releases report on the dangers of being distracted when behind the wheel.
“Forty-three per cent of parents in Asia-Pacific admit to having had an accident or a near miss due to being distracted when driving,” according to a report released by Ford Vietnam on November 26, while “more than half of drivers in the region admit to using their phone while driving, even though they are aware of the dangers.”
The report revealed that more than half of all drivers in Asia-Pacific say they use a mobile phone even when “precious cargo” such as a child is onboard. Of those surveyed, mobile phone use topped the list of in-car distractions.
In an effort to raise public awareness over the use of electronics while driving, Ford delivers the message: “Texting while driving is like driving with your eyes closed!”
Every text or selfie that captures your attention limits your awareness while driving, putting you and those around you in unnecessary danger. Even “just one text” can cause an accident.
“You’ve heard it before, but the reality is that every time you pick up your phone while driving, you see less,” the report noted. “You stop looking around at your environment – in front, behind, to the right and to the left. Your field of vision shrinks. You don’t even see what’s in front of you. It’s unfortunate that having a phone while driving can lead to unexpected consequences, as the simultaneous operation of two separate tasks causes the brain to become overloaded.”
The brain can switch between tasks but performs each more slowly. Many people think they can do two things at once – like talking or texting on the phone while driving – but it’s just not possible to concentrate fully on both. Drivers stop monitoring their environment. And new drivers in particular aren’t in the habit of scanning the road for hazards, and with a phone in hand it’s even more dangerous.
Mr. Matt Gerlach is one of Ford’s most advanced driving instructors and has spent the past ten years training engineers to become expert drivers at Ford’s testing center in Australia.
“In my experience of training hundreds of drivers, I’d say that even normal, everyday driving uses around 85 per cent of your mental load,” he said. “When you’re using 85 per cent of your brainpower to drive, your mind isn’t capable of doing much else, regardless of whether you’re a professional or new to the road.”
Distractions while driving include visual, like looking at a phone, causing drivers to take their eyes off the road, auditory, such as loud music, causing drivers to miss important sounds, manual, such as eating, causing drivers to take one or more hands off the wheel, and cognitive, like tiredness, causing diminished concentration.
