Vietnam National Coal and Mineral Group (Vinacomin) has accelerated coal production and sales. (Photo: VNA) Hanoi (VNA) – The Vietnam National Coal and Mineral Group (Vinacomin) has accelerated coal production and sales in order to meet targets set for the first six months of this year. The group said that its coal output during January-May reached 16.87 million tonnes while 17.6 million tonnes were sold, or 47.7 percent and 48.9 percent of the set yearly target. Of the total sales, 16.87 million tonnes were consumed domestically and 727,000 tonnes were exported. In the period, the group’s revenue was estimated at 52.5 trillion VND (2.28 billion USD), accounting for 46.1 percent of the yearly plan and up 23 percent on a yearly basis. Coal inventories of the sector were around 7.35 million tonnes, down 1.66 million tonnes from the beginning of the year. In June, Vinacomin aims to produce 3.4 million tonnes of coal and sell 4 million tonnes, of which 3.77 tonnes will … [Read more...] about Vinacomin records high coal output, sales
Meet sales targets
Global electric car sales up more than 50% in 2017: IEA
Electric car sales around the world rose by 54 per cent in 2017, taking global stock across the three-million threshold, the International Energy Agency said in a report Wednesday (May 30). Electric car sales around the world rose by 54 per cent in 2017. (Photo: AFP/Leon Neal) In China, the world's biggest market for electric vehicles, sales also grew by about half - but their market share remained small at 2.2 per cent. In Norway, electric vehicles have by far the world's highest market share with 39.2 per cent, according to the IEA. The Paris-based agency was optimistic about the sector's prospects. "Supportive policies and cost reductions are likely to lead to significant growth in the market uptake of (electric vehicles) in the outlook period to 2030," the report said. Should policymakers honour their current commitments to the environment, "the number of electric light-duty vehicles on the road (would reach) 125 million by 2030", it added. And should policy ambitions … [Read more...] about Global electric car sales up more than 50% in 2017: IEA
Masan Group shareholders approve ambitious sales targets
Shareholders of the Masan Group Corporation approved many ambitious targets for 2018 at the company’s annual general meeting on Tuesday. The company expects to achieve revenues of between VND45.15 trillion (US$1.99 billion) and VND 47 trillion ($2.07 billion) this year, over 20 per cent higher than last year. The net profit after tax attributable to equity holders of the company is targeted to increase by 55-85 per cent to VND3.4-4 trillion ($149.8-176.2 million). Speaking at the meeting, the company’s chairman, Nguyen Dang Quang, said the ambitious goals had been set based on the positive results achieved last year and in the first quarter of this year thanks to changes in business strategies. Last year the corporation’s after-tax profit attributable to equity holders was VND3.103 trillion, a year-on-year increase of 11.1 per cent. In the first quarter of this year, though net revenues remained at a rather steady VND8.274 trillion, EBITDA rose by 39.9 per cent … [Read more...] about Masan Group shareholders approve ambitious sales targets
Vissan targets 18 per cent pre-tax revenue increase
Vissan Joint Stock Company targets a pre-tax profit of VND179 billion on revenues of VND4.6 trillion (US$204.5 million) this year, respectively 8 per cent and 18 per cent higher year-on-year. Speaking at the annual shareholders meeting in HCM City on Wednesday, Nguyen Ngoc An, the company’s general director, said the livestock sector would be more positive this year than last year, with more pig farms resuming production, sow numbers controlled and growing at a steady rate and a greater balance between supply and demand. Pork prices are forecast to increase, he said. Consumers would buy more and more food from modern trade channels and the retail market thus has a lot of potential for development, he said. An said to meet the target this year the company would increase supply of pork, beef and processed foods this year by 15-20 per cent, he said. It would increase sales of fresh meat products through modern distribution channels, convenience stores and the hotel, restaurant and … [Read more...] about Vissan targets 18 per cent pre-tax revenue increase
VIB in talks with foreign investors for treasury shares sale
Vietnam International Bank (VIB) is counting on surging foreign investment inflows in 2018 to offload its treasury shares to foreign investors as soon as in the third quarter, and is looking to bolster its charter capital through a private placement. VIB chairman Dang Khac Vy said at the bank’s annual general meeting (AGM) held today in Hanoi that its research team is working with at least five interested foreign partners from the US, the EU, and Japan on the treasury share sales, which is expected to be completed in either the third or the fourth quarter of this year. “We see a favourable environment that supports our treasury share sales at this time. A number of foreign investment banks with a large pool of spare funds find Vietnam as a destination for their investment. They are indeed very interested to invest in Vietnam,” said Vy. “We are negotiating with these investors, and should we feel any proposal to be most advantageous, we will try to seal the deal … [Read more...] about VIB in talks with foreign investors for treasury shares sale