Corporate

MobiFone reported more than VND13.4 trillion ($582.6 million) in bank deposits, painting bright prospects for its upcoming equitisation. MobiFone has been earmarked for equitisation in 2020 Prime Minister Nguyen Xuan Phuc on August 15 officially approved the decision on equitising 93 state-owned companies until 2020. The name drawing the most attention is MobiFone, which is put on the table after dozens of failed equitisation attempts. As of the end of June 30, 2019, MobiFone’s total assets reached VND29.181 trillion ($1.27 billion), down 4 per cent against earlier this year. The value of state-owned capital was VND15 trillion ($652.17 million), investment fundsfor development also contributed VND5.08 trillion ($220.87 million), and undistributed profit was VND150 billion ($6.52 million). In addition, its revenue hit VND15.168 trillion ($659.48 million), down 12 per cent on-year. Pre-tax profit also reached VND2.644 trillion ($114.96 million), up 8.6 per cent on-year, … [Read more...] about MobiFone”s bright performance before equitisation

As much as 3.63 billion USD of foreign direct investment (FDI) capital was poured into Ho Chi Minh City in the first seven months of this year, an annual rise of 15.2 percent, according to the municipal People’s Committee.  Processing products for exports (Source: VNA) Of the amount, nearly 688.8 million USD came from 678 newly registered projects, up 26.9 percent in the capital and 18.3 percent in the number of projects year-on-year. In the period, 2,668 foreign investors bought shares and acquired stakes of domestic enterprises with a total registered capital of 2.6 billion USD, 28.3 percent and 16.7 percent higher than those in the same period last year. Meanwhile, HCM City granted business licences to 24,529 new domestic enterprises worth over 396 trillion VND (over 17 billion USD), up 0.9 percent and 25.7 percent respectively. Up to 71,874 existing enterprises were allowed to add a combined of over 160.4 trillion VND (over 6.9 billion USD) to their investment, … [Read more...] about HCM city lures over 3.6 billion USD of FDI in 7 months

The country’s largest engine and machinery producer Vietnam Engine and Agricultural Machinery Corporation (VEAM) risks massive loss due to a large stock of unsold trucks built up since before 2017. VEAM has collected a sizeable stock of unsold, older trucks At a recent working session with Deputy Minister of Industry and Trade Do Thang Hai, Bui Quang Chuyen, chairman of VEAM's Board of Directors reported that in the first six months of this year the company failed to complete the target in revenues from selling products and providing services. The revenue from industrial manufacturing only reached 38 per cent of the company's target and was 6 per cent lower than the figure last year. The main reason was that automobile sales saw a plunge on-year. Besides, the revenue from the commercial and services sector accounted for one-third of the initial plan and was only a quarter of the previous year's performance. Meanwhile, in 2019, the company plans to earn VND6.4 trillion … [Read more...] about VEAM reports massive stock of unsold trucks

VWS has been listening to local residents through feedback meetings and site inspections Ho Chi Minh City Department of Natural Resources and Environment (DoNRE), in collaboration with the city’s Fatherland Front Committee and the districts of Nha Be, Binh Chanh, and District 7 recently organised an inspection for local residents to identify the offending smell at Da Phuoc integrated waste management facility. Companies operating at the site include household waste processors Vietnam Waste Solutions (VWS), Saigon Xanh Biotechnology Co., Ltd. that processes waste sludge from Binh Hung wastewater treatment station and dredging sewage from the canal and river, and Hoa Binh Urban Environment Services JSC that treats sludge. VWS is believed to be the main culprit for emitting the unwanted odour in District 7 and Phu My Hung Urban Area. The inspection team allowed residents to explore the waste treatment activities at the complex for three hours. Most of the team recognised a faint … [Read more...] about Tech advances discussed for city waste treatment complex

International experts observe Bayer's insect-resistance hybrids solution in controlling fall armyworm The Vietnamese government’s ­decisive actions and in-the-field effectiveness of Bayer’s integrated pest management solutions took attention of participants at a workshop held in the northern province of Thai Nguyen last Friday. The event and associated field visit on “Sustainable Solutions for Fall Armyworm Management” jointly held by the Vietnam Academy of Agriculture Sciences, the Plant Protection Department (PPD) under the Ministry of Agriculture and Rural Development (MARD), and Bayer – a global leader in life sciences – attracted international experts across the region, including from India, Pakistan, Indonesia, Thailand, and the Philippines. Fall armyworm (FAW), or spodoptera frugiperda, is an insect that is native to tropical and subtropical regions in the Americas. In the larval stage, the pest (FAW) prefers corn but feeds on more … [Read more...] about Taking heed of Bayer’s pest concepts