The Hanoitimes - The Hoa Sen Group began the construction of a steel sheet factory worth more than VND2.3 trillion, or US$109.52 million, in this central province last Saturday. HNT … [Read more...] about Hoa Sen begins construction of steel factory
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Hoa Sen to take over Guang Lian project
VietNamNet Bridge - While foreign investors all have withdrawn from the Guang Lian project, the Hoa Sen Group will develop a steel complex, which was a major surprise to everyone. Hoa Sen plans to develop Guang Lian project in Dung Quat Economic Zone in Quang Ngai province after E-United gave up the project. The withdrawal leaked from a document the Quang Ngai provincial authorities had sent to the conglomerate. The document said Hoa Sen and the provincial People’s Committee would sign a cooperation agreement in many fields, including the steel project. This is seen as a positive sign for the revival of the $3 billion steel project which has been on paper for 10 years. In 2006, Taiwanese Tycoons received an investment license to develop Tycoons steel project with the initial investment capital of $1.7 billion. Later, 90 percent of the project’s stakes were transferred to E-United, also from Taiwan, which then raised the registered investment capital to $3 billion … [Read more...] about Hoa Sen to take over Guang Lian project
Hoa Sen: Non-profit university orientation
Hoa Sen: Non-profit university orientation Reported by Quang Tuan Bui Tran Phuong, principal of Hoa Sen University, an extension of which is in Quang Trung Software City, talked about the development policy and the orientation toward a “non-profit university” on the occasion of its 26th commencement ceremony on June 20 Q: What are the policies adopted by Hoa Sen University to attain the target of a non-profit school? A: In the establishment scheme of Hoa Sen University submitted to the Government, we made clear that our university is a non-profit entity in line with the commencement in 1991. This orientation has received solid support from the majority of shareholders at annual general meetings in 2007 and 2014 in the context that the Law on Higher Education took effect as from January 2013. A host of policies have been implemented. Half of the margin between revenue and spending every year is used to reinvest in education activities, while the remainder is used to … [Read more...] about Hoa Sen: Non-profit university orientation
Hoa Sen University gets US accreditation
VietNamNet Bridge – Five academic majors of Hoa Sen University's Faculty of Economics & Commerce have been accredited by the US Accreditation Council for Business Schools and Programmes (ACBSP). The five majors include marketing, business administration, human resource management, accounting and finance-banking. Students in the programmes will receive updated knowledge and learn skills and attitudes that meet enterprises' needs. The university also plans to carry out accreditation for majors of the Faculty of Tourism-Restaurant and other economic majors in the future. VNS … [Read more...] about Hoa Sen University gets US accreditation
Steel giant Hoa Sen’s total debt doubles
The total debt of giant steelmaker Hoa Sen Group has doubled since the beginning of this year due to a sudden increase in the demand for working capital. According to the group’s consolidated financial statement released recently, total debt at the end of the year reached nearly VND16.3 trillion (US$715 million), of which short-term debt accounts for more than 82.5 per cent. The rest was long-term bank loans used for the purpose of construction and purchasing fixed assets. Within the first three months of 2018, Hoa Sen must pay some VND900 billion out of VND8,500 billion in short-term bank loans, owed to Asia Commercial Bank, Vietcombank and Standard Chartered Bank. The group’s sales and services operation helped Hoa Sen earn approximately VND26.1 trillion, an increase of 46 per cent year-on-year. Financial income was more than VND56 billion, which was still not enough to cover financial expenses of VND589 billion, including interest expenses of VND482 billion. The … [Read more...] about Steel giant Hoa Sen’s total debt doubles