Mirae assets

A scenario is reoccurring in the stock market. Most stocks have fallen dramatically during pre-Tet days, causing widespread panic. The stock market experienced a tough trading session on January 17 when the VNIndex fell sharply by 43 points to 1,452.84, far from the historical peak of over 1,500 points gained in 2021. At the HCM City Stock Exchange (HOSE), 446 shares decreased, of which 128 shares fell to floor levels, while only 49 shares increased. At Hanoi Stock Exchange (HNX), 204 shares decreased, of which 49 fell to floor levels and only 50 shares increased. A large number of stocks fell to floor levels and eroded the pockets of many investors amid increased selling pressure before the Lunar New Year and investors' concerns after Trinh Van Quyet, president of FLC Group, sold 74.8 million shares without a required report, and Do Anh Dung, Chair of Tan Hoang Minh, withdrew from the Thu Thiem land auction last week. Quyet has been fined VND1.5 billion along with a … [Read more...] about Securities investors flee pre-Tet

If including third-party loans, the outstanding loan balance on the stock market would be more than VND200 trillion. Accordingly, the outstanding loans of securities companies at the end of 2021 increased by about VND100 trillion compared to the previous year. Some securities companies had high margin loans at the end of 2021, such as SSI with nearly VND23.7 trillion, Mirae Asset with more than VND17.28 trillion, TCBS with more than VND15.85 trillion, VNDirect with more than VND15.47 trillion, and HSC with VND13.69 trillion. According to the VSD, the number of new securities accounts opened by domestic investors in 2021 hit a record, with more than 1.5 million accounts, much higher than the total number of new accounts opened in many previous years. By Nhung Nguyen – Translated by Gia Bao … [Read more...] about More than VND200 trillion of loans on stock market

General Secretary Nguyễn Phú Trọng (standing) delivering a speech at the conclusion of the 21st session of the Central Steering Committee on Anti-corruption on Thursday in Hà Nội. — VNA/VNS Photo Trí Dũng HÀ NỘI — Party General Secretary Nguyễn Phú Trọng urged breakthrough changes in corrupt asset evaluation and recovery in 2022, as he chaired the 21st meeting of the Central Steering Committee for Anti-Corruption on Thursday in Hà Nội. The meeting was held to review the anti-corruption efforts in 2021 and deliberate tasks for 2022. Trọng, who also serves as the head of the committee, said despite the COVID-19 outbreak in 2021 and many shifts in the membership of the committee, thanks to the outstanding endeavours of everyone and the smooth coordination with local Party committees and State agencies, most works in the stated agenda of the committee have been followed through on time. The committee has effectively instructed inspection, auditing and legal proceedings of … [Read more...] about Breakthroughs needed in corrupt asset valuation and recovery: Party chief

Party General Secretary Nguyen Phu Trong speaks at the meeting. (Photo: VNA) Those included 10 major cases under the supervision of the steering committee. It is noteworthy that many new serious cases have been brought to light, which involved both incumbent and retired high-ranking officials and officers of general ranks in the armed forces, 10 of whom were under the management of the Politburo and the Party Central Committee's Secretariat. Progress was seen in the recovery of assets in corruption cases, with over VND9 trillion reclaimed in 2021. Party committees and Party inspection commissions at all levels intensified supervision and inspection, with 618 Party members disciplined last year for corruption or intentional wrongdoings. The Party Central Committee, the Politburo and the Secretariat meted out disciplinary measures on many high-ranking officials for their involvement in corruption. Party General Secretary Nguyen Phu Trong, head of the steering committee, said … [Read more...] about 390 corruption cases investigated, prosecuted in 2021

Capital Place is held under the CapitaLand Vietnam Commercial Value-Added Fund (CVCVF). CLD holds a 50-per-cent stake in CVCVF while the remaining share is held by MEA Commercial Holdings Pte. Ltd. The CVCVF was incepted in 2017 with a fund size of $130 million and is managed by CapitaLand Investment Limited (CLI), the real estate investment management business of CapitaLand Group and a leading global real estate investment manager. Capital Place, an international Grade A office building in Hanoi Upon completion of the transaction, the fund will be fully divested and closed, providing investors in the fund an internal rate of return of 34 per cent, almost triple the fund’s hurdle rate. The fund was also able to access regional debt markets to obtain an efficient capital structure which further boosted the fund’s returns. This stellar result will generate carried interests of $17 million to CLI and provides a strong track record for CLI’s future private equity funds. … [Read more...] about CapitaLand Development divests Capital Place in Hanoi for $550 million

With seven players out, including striker Nguyễn Tiến Linh, Coach Park Hang–seo has a puzzle to solve before the match against Australia. Photo vff.org.vn HÀ NỘI — Việt Nam's World Cup qualifying campaign will resume against Australia in just six days but a shortage of available players is causing a headache for coach Park Hang–seo. COVID-19, injuries, suspensions and visa issues are the four main problems at the moment. A week after testing positive with COVID-19, Nguyễn Tiến Linh is now fully recovered. However, Linh hasn’t yet completed the quarantine period, so the 24–year–old striker can't meet the visa deadline to enter Australia. This is also the case for Hoàng Anh Gia Lai striker Nguyễn Văn Toàn. Linh's absence is a big loss for Việt Nam. Despite only scoring twice in the AFF Cup, he is still Việt Nam's best attacking asset. In 2021, Linh scored seven goals. He also scored in the final three matches of the World Cup second qualifying round in June, helping Việt Nam … [Read more...] about Việt Nam face player shortage in run-up to Australia clash

The process of equitisation and divestment of State capital is still moving at a very slow pace. — VNA/VNS Photo Although relevant policies have been put in place, the process of equitisation and divestment of State capital is still moving at a very slow pace, according to Dang Quyet Tien, director of the Corporate Finance Department under the Ministry of Finance. Tien said just three enterprises, under Viet Nam Northern Food Corp. and Viet Nam National Coal and Mineral Industries Group, were successfully equitised in 2021. Notably, these three were not on the list of enterprises under equitisation approved by the Prime Minister. Meanwhile, 89 enterprises have not yet finished equitising as planned, of which 13 are large-scale enterprises located in Ha Noi and 38 in HCM City. Regarding divestment, the director revealed that State capital withdrawal took place in 18 enterprises last year at a total book value of VND1,665 billion (US$73 million), raking in VND4,402 billion … [Read more...] about Equitisation and divestment move slowly

Party General Secretary Nguyen Phu Trong speaks at the meeting. (Photo: VNA) Hanoi (VNA) – A total of 390 corruption cases involving 1,011 people were investigated and prosecuted last year, the Central Steering Committee for Anti-Corruption reported at a meeting in Hanoi on January 20. Those included 10 major cases under the supervision of the steering committee. It is noteworthy that many new serious cases have been brought to light, which involved both incumbent and retired high-ranking officials and officers of general ranks in the armed forces, 10 of whom were under the management of the Politburo and the Party Central Committee's Secretariat. Progress was seen in the recovery of assets in corruption cases, with over 9 trillion VND reclaimed in 2021. Party committees and Party inspection commissions at all levels intensified supervision and inspection, with 618 Party members disciplined last year for corruption or intentional wrongdoings. The Party Central Committee, … [Read more...] about 390 corruption cases investigated, prosecuted in 2021:anti-corruption central steering committee

VNR500 companies have been ranked based on their revenue and other criteria including profits, growth rates, number of employees, and assets. Vu Van Thang, General Manager for Herbalife Vietnam and Cambodia, said, “The VNR500 recognition is encouraging news for all our independent members and employees given all the challenges we faced in 2021. To sustain our business momentum, we will continue to prioritise on the sustainabiliy agenda with customer satisfaction being one of our key focuses. As a nutrition company, we will continue our strong commitment to helping people live healthier lives in the new year through our science-back nutrition products, together with direct support from our members.” Earlier, in November 2021, Herbalife Vietnam was named one of the top 10 Food Companies in Vietnam by VNR. The recognition is based on five key criteria, including diversified and familiar products, a wide distribution network, a high-profile company and well-established … [Read more...] about Herbalife Vietnam Named Top 500 Largest Companies in Vietnam 2021

Nearly half of the cases are related to the health sector, in which the alleged offenders are accused of abusing power for profiteering during the Covid-19 pandemic. Ten corruption cases will be brought to justice this year to boost the anti-corruption fight in Vietnam as required by Secretary General of the Communist Party of Vietnam (CPV) Nguyen Phu Trong. Secretary General Nguyen Phu Trong, head of the Central Steering Committe for Anti-corruption, at the meeting on Jan 20. Photo: VNA The cases, including four in the health sector, are typically serious with the involvement of senior officials, reported at the Central Steering Committee for Anti-Corruption’s meeting chaired by the secretary general on January 20. Trong directed the thorough investigations to bring to court any offender regardless of positions. Ten cases include that on violations of public asset management rules causing losses in Binh Duong Producing and Trading Corp; power abuse and … [Read more...] about Vietnam to bring to justice 10 corruption cases in 2022: General Secretary