Corporate

Positive factors apprear promising a more upbeat upcoming fiscal year for sugar firms The recently released financial statement of Son La Sugar JSC (SLS) showed that in the fourth quarter of the company’s 2017-2018 fiscal year from July 1, 2017 to June 30, 2018, it fetched VND144 billion ($6.3 million) in revenue, equal to the number recorded one year ago, but its post-tax profits plunged by 39.3 per cent. For the whole fiscal year 2017-2018, the company’s post-tax profit decreased by 28.9 per cent on-year to VND116 billion ($5.13 million). Lower profits against augmenting asset value have led to a sharp fall in the company’s major profitability indexes. Accordingly, its return on asset (ROA) ratio fell to 8.2 per cent from 17.8 per cent in the same period last fiscal year, while its return on equity (ROE) ratio dropped to 24.2 per cent from 38.8 per cent. The SLS results reflect a development shared by most other sugar firms in the 2017-2018 fiscal year. In the … [Read more...] about Sugar firms anticipated more buoyant upcoming fiscal year

Baby product retailer Con Cung complies with law: Trade ministryBy Thanh Thom Passers-by ride past a Con Cung outlet – PHOTO: VNA HCMC – Con Cung (Beloved Kid), a retail store chain specializing in mother and baby products, has been found to have conformed to regulations on the rights and interests of consumers, product quality and traceability, the Ministry of Industry and Trade said on its website. Earlier, a customer had complained that a Con Cung outlet had replaced a product’s “Made in Thailand” label with another that read, “CF,” which stands for “Con Cung Fashion.” Following up on the complaint and media reports, the ministry set up an interdisciplinary inspection team to check whether the company had complied with regulations on the production and trade of goods and commercial services, competition and the protection of consumers’ rights and interests from July 30 to August 10. The team inspected 75 samples … [Read more...] about Baby product retailer Con Cung complies with law: Trade ministry

Microsoft Vietnam, state-owned Vietnam Posts and Telecommunications Group and Vietnet Information Technology and Communication Centre (Vietnet-ICT) today jointly held a forum entitled “Challenges and technological solutions in information security” and provided intensive training for students.   The three-day event attracted the participation of more than 200 lecturers and students from several technology universities in Hanoi such as the Posts and Telecommunications Institute of Technology, Thang Long University, Academy of Cryptography Techniques, University of Technology and Hanoi Open University. Within the collaboration between Microsoft Vietnam and state telco VNPT since 2016 in three main areas of cloud computing, information security, and smart cities, this event was also the next step for the Information Security Contest which was successfully organised in May 2018 for university and college students by VNPT (VNPT SecAthon 2018). The contest sought to raise … [Read more...] about Microsoft boosts support for IT students

Standing under the line of 12 wind turbines that make up the Phu Lac wind farm, Bui Van Thinh, chairman of Thuan Binh Wind Power JSC, told VIR that due to the purchasing price of 7.8 US cents per kilowatt-hour (kWh), his company has not made a profit in nine years of operation. The Phu Lac wind farm project’s phase 1 had the total investment of nearly VND1.1 trillion ($48.7 million), with 85 per cent of the sum raised in loans from the German development bank KfW. In September 2016, the plant went into commercial operation and was connected to the national grid. Thinh said that he had not lost faith, but Thuan Binh Wind Power JSC’s ambitions to expand with further wind power projects in Vietnam might fail if the price does not increase. Previously, the company had planned to develop four similar plants: two in the central provinces of Ninh Thuan and Binh Thuan and two in the Central Highlands provinces of Dak Lak and Gia Lai. Waiting for increased FiT The Ministry of … [Read more...] about Renewables lag behind the potential

VNA, Lufthansa Technik sign deal for Airbus maintenance By Le Anh Dang Ngoc Hoa (L, first row), vice general director of Vietnam Airlines, and Gerald Steinhoff (first row), vice president of Lufthansa Technik AG, pose for a photograph at a signing ceremony, held on August 16 in Hanoi - PHOTO: VIETNAM AIRLINES HCMC – The national flag carrier Vietnam Airlines (VNA) signed a contract with the Germany-based Lufthansa Technik AG for technical support on August 16 in Hanoi. The contract allows Lufthansa Technik to provide maintenance services for the auxiliary power units (APUs) of VNA’s Airbus A350 fleet. The deal will enable the local carrier to enhance its technical efficiency and ensure the safety of its flights. Under the agreement, Lufthansa Technik AG, a provider of maintenance, repair and overhaul services for civil aircraft, engines and components, will offer maintenance services for 10 APUs of the A350 fleet during the 2018-2020 period. All Airbus A350s owned … [Read more...] about VNA, Lufthansa Technik sign deal for Airbus maintenance

Uber on Wednesday (Aug 15) disclosed that its quarterly loss jumped despite taking in more money, as it invested in scooters and other "big bets." Uber quarterly loss jumps as it invests in 'big bets', photo AFP The San Francisco-based smartphone ride star reported it lost US$891 million on net revenue of US$2.8 billion, while overall bookings rose to US$12 billion. "We had another great quarter, continuing to grow at an impressive rate for a business of our scale," said Uber chief executive Dara Khosrowshahi. He added that Uber is investing in "big bets" including restaurant take-away delivery service Uber Eats and "environmentally friendly modes of transport" like Express Pool, e-bikes and scooters. The company is also devoting resources to what it sees as high-potential markets in India and the Middle East, according to Khosrowshahi. Uber has made a practice of disclosing its earnings, despite not being required to since it is a private company. It said in May that its … [Read more...] about Uber quarterly loss jumps as it invests in ‘big bets’

Shares of Tesla fell on Wednesday (Aug 15) following reports US securities regulators have subpoenaed the electric car manufacturer's Chief Executive Elon Musk over his statements about taking the company private. Tesla shares fall on reports of SEC subpoena, JOSH EDELSON AFP/Getty Images Shares finished down 2.6 per cent at US$338.69 after news of the formal demand for information was published by Fox Business and The New York Times. Shares fell as much as 4.5 per cent earlier in the session. The development suggests the oversight by the US Securities and Exchange Commission - which was characterised in previous news articles as an inquiry - has "advanced to a more formal, serious stage," said The Times, which cited a person familiar with the matter. A subpoena "typically requires the approval of top SEC officials," the newspaper added. A Wall Street Journal story published after the stock market closed said the subpoena sought information from each of Tesla's directors. A … [Read more...] about Tesla shares fall on reports of SEC subpoena

VNA offers 15% discount on online bookingsBy Van Ly A Vietnam Airlines aircraft is seen at an airport in Vietnam. VNA has launched special deals on fares, offering customers a 15% discount for booking tickets online – PHOTO: LE ANH HANOI – National flag carrier Vietnam Airlines (VNA) has launched special deals on fares, offering customers a 15% discount for booking tickets online via the airline’s website at www.vietnamairlines.com from August 15 to September 13. VNA, the National Payment Corporation of Vietnam (NAPAS) and 34 commercial banks in the country jointly launched the promotional program, offering 10,000 discounted fares under promo codes that are valid for both domestic and international flights departing on Tuesdays, Wednesdays and Thursdays during the promotional period. Of this, 2,000 units available under the promo codes PR15NAPAS218, PR15NAPAS318, PR15NAPAS418 and PR15NAPAS518 will allow customers to get a 15% discount on flights connecting … [Read more...] about VNA offers 15% discount on online bookings

Samsung Pay to offer free money transfer serviceBy Hung Le Kim Cheol Gi, general director of Samsung Vina, introduces the Galaxy Note 9 at a launch ceremony on August 14 - PHOTO: HUNG LE HCMC – Local customers can use a Samsung Pay card to conduct payment transactions and transfer money free of charge from early September, a representative of Samsung Vina Electronics said at Galaxy Note 9 launch ceremony held on August 14. The representative revealed that the feature will be available on the mobile payment system, Samsung Pay, of the Galaxy Note 9 and other Samsung smartphones. In particular, users will be able to easily transfer money from Samsung Pay cards to various bank accounts, including some banks beyond the ecosystem of Samsung Pay. Samsung Pay subscribers will benefit from the service for a year from the launch date. Nguyen Quang Hien Huy, deputy general director and executive director of Samsung Vina, stated that the new functions for Samsung Pay were … [Read more...] about Samsung Pay to offer free money transfer service

AkzoNobel Vietnam has contributed more than 3,000 litres of Dulux exterior paint and 44 litres of oil paint to the Mua He Xanh 2018 programme to redecorate Ho Chi Minh City. AkzoNobel Vietnam joined the 25th Mua He Xanh campaign AkzoNobel Vietnam has been particularly enthusiastic about the Mua He Xanh 2018 campaign, as it appreciated the spiritual meaning of the wall painting and drawing initiative which helps refresh the exteriors of old apartment buildings and alleys in the city. With the donated paint, Mua He Xanh volunteers have repainted and decorated the walls of 60 urban alleys and three old apartment buildings in Ho Chi Minh City. The Mua He Xanh campaign is a summer-time specialty of Ho Chi Minh City. The enthusiastic young volunteers have brought practical and meaningful contributions to the community. On the occasion of its momentous 25th anniversary, the Mua He Xanh 2018 campaign was held with a special plan including many valuable and humane activities. Many … [Read more...] about AkzoNobel Vietnam joins Mua He Xanh to redecorate Ho Chi Minh City