Owning numerous large-scale land plots may attract investors to Hanosimex for its listing on the Unlisted Public Company Market (UpCOM). Hanosimex's land plots may act as a counterpoint to the firm's average performance The Hanoi Stock Exchange has approved Hanoi Textile and Garment Joint Stock Corporation (Hanosimex) to list 20.5 million shares on UpCOM at the reference price of VND15,800. According to the plan, the listing will be conducted on April 19. Established in 1984, Hanosimex is a large-scale corporation within the yarn-textile-garments supply chain of Vinatex, with factories in Hanoi, Bac Ninh, Hung Yen, Ha Nam, Nghe An, and Ha Tinh provinces. In 2017, Hanosimex reported a revenue of VND2.36 trillion ($103.6 million), including VND1.65 trillion ($72.4 million) of revenue from the yarn segment and VND335 billion ($14.7 million) from the garment segment. VND1.58 trillion ($69.37 million–67.31 per cent) of its revenue came from exports, while VND771 billion … [Read more...] about Large land bank may lure investors to Hanosimex?
Detroit land bank authority
It is necessary to establish a land bank because the majority of the 27 million ha of farmland in Vietnam is owned by individual farmers, which has created a host of difficulties for high-tech agriculture, Mr. Mai Van Phan, Deputy Director General of the Land Registration Department at the Ministry of Natural Resources and Environment (MoNRE), said on August 14. Mr. Phan’s proposal is in the context of high-tech agriculture struggling to accumulate land for large-scale production. According to the latest figures from MoNRE, the country currently has 27 million ha of agricultural land, of which 55 per cent is under farm management and only 10 per cent belongs to economic organizations. The process of land consolidation for large-scale public agricultural production has been slowing. Land fragmentation is a major obstacle to long-term investment in agriculture, especially in high-tech … [Read more...] about Land bank needed for agricultural development
With a massive land fund, Vietnam Rubber Group (VRG) is a name many investors pay close attention to. However, due to its huge capitalisation, VRG has yet to select a strategic investor, although there are only a few days until its initial public offering (IPO). Too high a bar for potential investors On July 1, VRG will offer a 25% stake during its IPO, expecting to earn approximately VND10 trillion (US$440 million). VRG is also selling 3% of its preferred shares to its employees According to economists, there are only a few agricultural companies which have available funds with the total worth of VND5-10 trillion. Therefore, seeking a strategic investor or a foreign investor in this sector is a challenge for VRG. Although the rubber industry has recovered, the price of rubber latex is still uncertain. Tran Ngoc Thuan, general director of VRG, said that although there are many interested investors, the company’s capitalisation is so big that it is difficult to find … [Read more...] about IPO to look out for: VN Rubber Group’s mega-land bank
NA Economic Committee Deputy Chairman Nguyễn Đức Kiên tells Tiền Phong (Vanguard) that a land bank can help avoid difficulties and risks relating to land accumulation. Agricultural land accumulation appears to have become a trend now. Can you tell us something about this? Agricultural land accumulation is actually taking place in many places, mainly in three ways: the first one is where farmers gather their land together and plant the same crops, use the same inputs (like fertilizers); the second way is for firms to negotiate with each household individually to rent or buy their land; and the third is for authorities to rent land from farmers and lend it to firms. Each way has its own advantages and risks. If farmers gather land together and can work well with each other, that's good, but not good enough. If they can't find markets for their output and don't apply new technologies in their production process, they'll be vulnerable to market fluctuations. On the other hand, if firms … [Read more...] about Land bank: good for farmers and firms
When Chinese Premier Li Keqiang sought to reassure business leaders that the world's second-largest economy can avoid a hard landing, he acknowledged mounting fears of exactly that, and analysts say the adjustment to slower growth will be painful. Just six months ago Li set a 2015 economic growth target of "around seven percent", confidently telling lawmakers that the economy was adjusting to a "new normal". But he scrambled to reassure a World Economic Forum meeting on Thursday that China was not heading for a disorderly slump which would shake the global economy. "If there are signs the economy is sliding out of the proper range we have adequate capability to deal with the situation," he said. "The Chinese economy will not head for a hard landing." Still, gloomy perceptions of China are growing and the signs are troubling: a surprise currency devaluation, persistently weak manufacturing, and rising debt defaults, with a share price collapse to boot. Government meddling in the stock … [Read more...] about China grapples with risk of economic hard landing