VietNamNet Bridge – If it is true that VimpelCom sells its 49 percent stake in Beeline network to the Vietnamese partner Gtel at 45 million dollars, the second biggest mobile network in Russia would incur a heavy loss in the Beeline Vietnam affair. According to Reuteurs, on April 23, VimpelCom announced that it has signed an agreement on selling all the 49 percent of its stakes at Gtel Mobile – the company that provides Beeline mobile network in Vietnam. The provisions of the agreement said that the buyer would pay 45 million dollars for the stakes, in cash. After the deal is wrapped up, VimpelCom would not have any more interests, duties and responsibilities in GTel Mobile. Meanwhile, GTel would have to stop using Beeline brand six months after the day of transfer. Commenting about the affair, a manager of a mobile network in Vietnam said that 45 million dollars is really a good price for the buyer. Just having to spend 1 trillion dong, GTel would have Beeline in a … [Read more...] about How much VimpelCom lost in Beeline project?
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Vietnam, Russia sign oil, gas exploration deal Vietnam and Russia have signed a Memorandum of Understanding (MoU) on the possibility of cooperating in a joint seismic research at Lots 125 and 126 in the Phu Khanh basin in Vietnam’s continental shelf. The MoU was inked by General Director of the Vietnam National Oil and Gas Group (PetroVietnam) Do Van Hau and General Director of Russia’s Zarubezhneft Oil Company Alexander Kudasov in Moscow on June 16 on the sidelines of the 21st World Petroleum Conference. The June 15-19 conference is drawing the participation of about 4,000 delegates, including 30 ministers and 400 CEOs and heads of industrial organisations from 80 countries. The Vietnamese delegation is led by Minister of Industry and Trade Vu Huy Hoang. Following the signing ceremony, the Vietnamese officials had a working session with Zarubezhneft Company General Director Alexander Kudasov, and visited a PetroVietnam pavilion at the 21st World Oil Exhibition. PM … [Read more...] about BUSINESS IN BRIEF 18/6
VINACAFÉ – Not to be Proud of Market Share With more than 50% of instant coffee market share & exporting to over 20 countries in the world, it is likely to say that Vinacafe is affirming its strong position in the Vietnamese instant coffee market. This is an important and admirable achievement. However, the way made by Vinacafé in the past time partly shows that market share is not the top target of the company but quality and sense of pioneer in protecting customers’ interests. In the past two years, the coffee processing market, especially instant coffee, in Vietnam has been growing remarkably. In a short time, there are many new brands appearing in the market, amongst, Vinamilk returned to the market with roasted and instant coffee product named Vinamilk replacing for former Moment brand. Tan Hiep Phat launched Vip canned coffee product, and other companies including Tien Thanh Company with Rock coffee brand, Tran Quang Company with Ice coffee and … [Read more...] about VINACAFÉ – Not to be Proud of Market Share
In light of hard-up companies waiting with baited breath for lending interest rates to fall further, pressurised banks expressed concern they wouldn't meet profit targets due to the increasingly narrow margins between deposit and lending rates Banks express concern that they won't meet profit targets due to narrowing margins between deposit and lending rates. — Photo vnexpress.net HA NOI (Biz Hub) — In light of hard-up companies waiting with baited breath for lending interest rates to fall further, pressurised banks expressed concern they wouldn't meet profit targets due to the increasingly narrow margins between deposit and lending rates, according to a report by Dau tu Chung khoan (Securities Investment) online. Viet Nam Leather and Footwear Association general secretary Nguyen Duc Thuan said although lending rates had gradually dropped – now hovering around 11-12 per cent – they were still causing significant difficulties for enterprises. Such rates … [Read more...] about Banks find difficulties seeking profits in falling rate trend
HÀ NỘI — PetroVietnam Power Corporation (PV Power) will put more than 468.3 million shares of its charter capital for sale in its initial public offering (IPO) on January 31, 2018. The shares will be listed on the Hà Nội Stock Exchange (HNX), the northern market regulator said in its Wednesday announcement. The initial auction price for PV Power’s 20 per cent ownership is set at VNĐ14,400 (64 US cents) per share. PV Power expects to receive at least VNĐ6.74 trillion from the IPO, according to HNX. The market capitalisation of PV Power at the share price of VNĐ14,400 is estimated at US$1.48 billion while its charter capital is projected at VNĐ23.4 trillion ($1.04 billion) after the equitisation process is completed. According to HCM City Securities Corp (HSC), the IPO price is not cheap as the price-to-earnings per share (P/E) of PV Power for 2017 is estimated at 21 compared to the region’s average price-to-earnings … [Read more...] about PV Power to launch IPO in January 2018