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?
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
Viet Nam's lenders are gathering speed, posting the second-highest growth by country in this year's ranking of the top 100 banks in the Association of Southeast Asian Nations (ASEAN). Viet Nam Prosperity Bank comes out on top with a 35.02 per cent increase in terms of asset growth, in the Top 100 ASEAN banks ranking. Global financial affairs magazine The Banker of news organisation The Financial Times made the announcement in an online report this month. The largest increase in the ranking goes to Cambodia, which grew by 30.4 per cent, although it has only one lender – Acleda Bank – recognised on the list. Cambodia also accounts for only 0.1 per cent of the total assets in the ranking, down from 0.19 per cent the year before. Vietnamese banks – 19 of which made the ranking – grew their assets by the second-highest amount, 15.66 per cent, and although they still contribute a relatively small share of the total assets in the ranking, 7.46 per cent, … [Read more...] about VN on the rise in ASEAN banks’ ranking