In recent days, potential candidates have been lining up to participate in restructuring Sacombank, one of the largest joint stock commercial banks in Vietnam, drawing avid attention from the public. The appearance of numerous “heavyweights” have called even more attention, highlighting names like New York-based Evercore Group Investment Bank, M&A consulting firm Redsun Capital Limited, and Dang Van Thanh, president of Thanh Thanh Cong Group. This is the first time Thanh returns to the field after a long absence from the financial-banking market since his 2012 incident with Sacombank. A name intertwined with the bank Over the past five years, after transferring his power at the bank he established and led in development, the market and financial investors have always stayed on the lookout for Thanh and his family. Sacombank is often associated with the personal of Thanh. However, Thanh Thanh Cong Group (TTC Group) is now the professional headquarters both for him and … [Read more...] about Founder of Sacombank to return after five years Money Banking Investments Shares
Return on invested capital formula
Vietnam’s 20 most influential businesswomen
1. Cao Thi Ngoc Dung Cao Thi Ngoc Dung was born in 1957, Quang Ngai. She is the chairman and general director of Phu Nhuan Jewelry Joint Stock Company (PNJ). She was also voted by Forbes Asia as one of the most influential women in Asia. PNJ’s revenue in the first 11 months of 2016 was VND7.7 trillion ($336.5 million), increasing by 9 per cent compared to the same period of 2015, of which revenue from jewellery retail increased by 28 per cent. PNJ’s pre-tax profit was VND561 billion ($54.6 million), 132 per cent higher than in the same period of 2015. 2. Chu Thi Thanh Ha The chairman of FPT Telecom was born in 1974. She is also the wife of Le The Hung, one of the founders of FPT. FPT Telecom is a subsidiary of FPT. In 2016, FPT Telecom’s revenue was estimated to reach more than VND6.15 trillion ($268.4 million), growing 20.4 per cent on-year. Profit before tax was estimated to reach VND950 billion ($41.6 million), growing 9 per cent. 3. Dinh Thi Hoa Dinh Thi … [Read more...] about Vietnam’s 20 most influential businesswomen
Vietnam’s 20 most influential businesswomen DTiNews
1. Cao Thi Ngoc Dung Cao Thi Ngoc Dung was born in 1957, Quang Ngai. She is the chairman and general director of Phu Nhuan Jewelry Joint Stock Company (PNJ). She was also voted by Forbes Asia as one of the most influential women in Asia. PNJ’s revenue in the first 11 months of 2016 was VND7.7 trillion ($336.5 million), increasing by 9 per cent compared to the same period of 2015, of which revenue from jewellery retail increased by 28 per cent. PNJ’s pre-tax profit was VND561 billion ($54.6 million), 132 per cent higher than in the same period of 2015. 2. Chu Thi Thanh Ha The chairman of FPT Telecom was born in 1974. She is also the wife of Le The Hung, one of the founders of FPT. FPT Telecom is a subsidiary of FPT. In 2016, FPT Telecom’s revenue was estimated to reach more than VND6.15 trillion ($268.4 million), growing 20.4 per cent on-year. Profit before tax was estimated to reach VND950 billion ($41.6 million), growing 9 per cent. 3. Dinh Thi Hoa Dinh Thi … [Read more...] about Vietnam’s 20 most influential businesswomen DTiNews
Vietnamese nationality registration rescinded
Vietnamese nationality registration rescinded Amendments to the Law on Vietnamese Nationality approved on June 24 abolished the requirement that expatriates residing abroad register to retain their Vietnamese nationality. The amendment comes into effect immediately, however, is not retroactive. All expatriates who have not previously lost their nationality in accordance with prior law are now exempt from the registration requirement and legally are entitled to retain their Vietnamese nationality. The law also contains provisions for overseas Vietnamese to obtain documents to certify their Vietnamese nationality for passport and other legal purposes. These new changes demonstrate the Party and State’s policy that considers OVs as an indispensable part of the nation and creates the best possible conditions for OVs to keep close attachment with the homeland. Vietnam to have Bus Rapid Transit routes in 2015 Vietnam will build Bus Rapid Transit (BRT) routes in Hanoi, Ho Chi Minh City … [Read more...] about Vietnamese nationality registration rescinded
BUSINESS IN BRIEF 26/1
India examines antidumping duty slap on DVDs imported from Vietnam The Directorate General of Anti-Dumping and Allied Duties (DGAD) of India will arrange a hearing for the imposition of an anti-dumping tax on Digital Versatile Discs (DVDs) imported from Vietnam, according to the Competitiveness Management Department under the Vietnamese Ministry of Industry and Trade. The DGAD, a nodal agency of the Indian Commerce Ministry, recommended imposition of the duty after an investigation began in May 2009. The agency concluded in its probe that the domestic industry had suffered a material injury on account of dumped imports of the DVDs from Vietnam, Thailand and Malaysia. In 2010, India decided to impose a duty on DVDs of between 29.75 USD per 1,000 pieces to 50.51 USD per 1,000 pieces. The duty imposed under this notification was to be levied for a period of five years, from April 12, 2010. On December 31, 2013, India finally announced that the duty would be 73.01 USD per 1,000 DVDs. … [Read more...] about BUSINESS IN BRIEF 26/1
BUSINESS IN BRIEF 6/9
8M State budget deficit at $5bn State budget revenue and spending during the period were VND603.7 trillion ($27 billion) and VND715.2 trillion ($32.05 billion), respectively. Tax revenue from domestic business activities reached VND486.2 trillion ($21.8 billion), equal to 61.9 per cent of the annual plan, from crude oil VND24.6 trillion ($1.1 billion), or 45.2 per cent, and from import and export activities VND90.2 trillion ($4 billion), or 52.4 per cent. Revenue remained low in the period due to the "effect of low crude oil prices and the impact of the change in direction of Vietnam's trade activities when joining foreign trade agreements (FTAs)," according to GSO General Director Mr. Nguyen Bich Lam. Some tax revenue from domestic business activities were higher than expected, with land use fees reaching VND48.3 trillion (2.16 billion), equal to 96.7 per cent of the annual plan, while industry and trade activities (excluding State-owned enterprises, or SOEs) contributed VND97.4 … [Read more...] about BUSINESS IN BRIEF 6/9
BUSINESS IN BRIEF 25/7
Chemicals company fined for securities fraud Duc Giang - Lao Cai Chemicals Co was fined VND230 million (US$10,900) for fraud in sales of securities. The State Securities Commission fined the company VND200 million for carrying out a public offering of securities without registering with the commission. The remaining VND30 million in fines was for filing a registration to be a public company 12 months late. Bao Viet Securities Co sees jump in profits Bao Viet Securities Co (BVS) reported a profit of over VND55 billion (US$2.6 million) in the second quarter of this year thanks to rocketing incomes from their brokerage operations. The profits are bright news for the securities firm that posted a loss of about VND26 billion ($1.2 million) for the same period last year. Total revenue for BVS in the quarter reached VND70.67 billion ($3.3 million), up 47 per cent from the same period last year. Total revenue for the first six months hit VND116 billion ($5.5 million), up 24 per cent, … [Read more...] about BUSINESS IN BRIEF 25/7
BUSINESS IN BRIEF 20/7
Regional tourism ministers to meet in city Tourism ministers of Vietnam, Laos, Cambodia and Myanmar will attend a tourism meeting in HCMC this September to discuss the next move to boost the tourism's image "Four Countries-One Destination." Under the program approved by the Ministry of Culture, Sports and Tourism, the meeting will be an important part of the International Travel Expo 2012 in HCMC (ITE-HCMC 2012) taking place on September 13-15. At the meeting, tourism ministers of the four countries will discuss the tourism cooperation plan for the 2012-2015 period. Thailand will be invited to join the meeting to exploit tourism potentials and advantages, develop the image of "Five Countries-One Destination" and make the tourism in the Mekong River area more attractive to international tourists. Together with the meeting, the organizers of ITE-HCMC 2012 are also under preparation for the meeting of mayors of the cities from the expanded Greater Mekong Sub-region, including … [Read more...] about BUSINESS IN BRIEF 20/7
BUSINESS IN BRIEF 12/2
Tuyen Quang miners to export barites The Government has allowed barites ore exploitation and processing enterprises in the northern province of Tuyen Quang to export about 70,000 tonnes of barites this year after meeting domestic demands, said Hoang Quoc Binh, director of the province's Department of Industry and Trade. Binh expected that exports of barites, used in petrol, chemical and glass production industries, would help the province meet its export target of US$15 million this year. The province currently has six barites ore producers, whose yearly total output reaches roughly 320,000 tonnes. Banks flirt with low interest rates Vietcombank announced on Thursday a reduction of up to 2 per cent in interest rates on loans made in Vietnamese dong, depending on terms. The bank is now posting lending rates ranging from 16 per cent per year for loans made to exporters and manufacturers to 20 per cent per year for loans made to enterprises in non-productive sectors, including … [Read more...] about BUSINESS IN BRIEF 12/2
ART & ENTERTAINMENT IN BRIEF 17/6
Painters display figurative vs. abstractive arts in Thailand Painter Ho Huu Thu and his son Ho Hong Linh are showcasing their figurative vs. abstractive artworks at an exhibition which opened at Silom Art Gallery in Bangkok on June 15. On display are 27 paintings, highlighting philosophy of life, the desire for peace, and the romantic beauty of Vietnam and its people. Ngo Duc Thang, Vietnamese ambassador to Thailand, said figurative and abstractive arts will help viewers have a perfect vision of the hidden charm of Vietnam and its people, especially women. This is the first time Thu and his son have displayed their works in Thailand. Thu has won a silver medal at an art competition hosted by ESSO in 1960 and second prize at the Vietnam National Art Contest in 1990. The gallery will open until July 15.Haiphong festival promotes tourism potential The most popular flower in the northern port city of Haiphong, the flamboyant flower, ‘flame flower’ or royal Poinciana – was … [Read more...] about ART & ENTERTAINMENT IN BRIEF 17/6