Even though GTNfoods JSC has refused its previous proposal, Vinamilk is still eager to acquire more stakes in the firm (which holds 51 per cent of Moc Chau Milk Company as part of its M&A strategy to expand its market share in the dairy manufacturing sector. Vinamilk eagers to take M&A deal with GTNfoods to expand its market share On April 11, Vinamilk submitted the second document to the Ho Chi Minh City Stock Exchange (HSX) to propose buying 116.71 million shares, equalling a 46.68 per cent stake of GTNfoods at the offered price of VND13,000 ($0.56) apiece. The total value of the offer is VND1.517 trillion ($65.96 million). Vinamilk’s offer is still lower than the market price of GTNFoods, which closed the April 11 session at VND17.100 ($0.74) per share. GTNfoods has until May 22 to decide whether to sell to Vinamilk. Once successful, Vinamilk will increase its holding in the dairy manufacturer from 2.32 to 49 per cent, equalling 125.5 million shares. … [Read more...] about Vinamilk eager for M&A with GTNfoods to expand market share
Moving cash isa to stocks and shares
Vietnam Expo 2019: Connecting and sharing for mutual success
Trade opportunities Vietnam Expo 2019 - Connecting and Sharing for Mutual Success - took place in Hanoi from April 10 to 13, drawing 500 businesses from 23 countries and territories. The event featured 600 pavilions, including from Algeria, Cuba, Indonesia, the Republic of Korea and China. There was a special display area for creative and high-quality products from 15 local trade promotion centers. According to the annual statistics, there are more than 15,000 visitors to work and attend seminars within the framework of Vietnam Expo. A special feature that creates the fair’s attraction is diverse and unique products in the groups of electrical, electronic, information technology, and security and safety equipment; industrial and agricultural machines and equipment, engineering, hand tools and hardware; foodstuff, beverage, and agricultural products; handicrafts, interior and exterior decoration. The Vietnam Value area is a place where Vietnamese enterprises honored with the … [Read more...] about Vietnam Expo 2019: Connecting and sharing for mutual success
Vietnam Italy Steel wishes to sell more shares to parent company
Vietnam Italy Steel JSC (code: VIS) wants to keep selling shares to Kyoei Steel despite its poor business performance after being acquired by a Japanese company. Vietnam Italy Steel has been reporting poor business after being acquired by Kyoei Steel Vietnam Italy Steel JSC’s board of directors has just submitted a document to its shareholders’ meeting on allowing Kyoei Steel, and relative members, to keep buying more than 10 per cent of its shares without submitting a public bid. After receiving VIS stocks from Thai Hung, Kyoei Steel has kept increasing its ownership in VIS. Currently, the Japanese firm is VIS’s parent company with the ownership rate of 73.81 per cent, equalling 54.5 million stocks. However, after falling into Kyoei Steel’s hands, VIS’ business has experienced a downturn. VIS’ financial statement for the fourth quarter of 2018 showed that the company suffered a loss of VND195.6 billion ($8.5 million), bringing its … [Read more...] about Vietnam Italy Steel wishes to sell more shares to parent company
Learning to travel and travelling to learn
Ngô Trần Hải An has spent 20 years of his life traveling around Việt Nam and many other places in the world. — Photo Courtesy of Ngô Trần Hải An Viet Nam News By Thu Trang HÀ NỘI — Travel changed Ngô Trần Hải An’s life. The 38-year-old has spent the last 20 years of his life exploring Việt Nam and other countries and blogging about his adventures on Facebook, where he has more than 22,000 followers. He funds his trips by working as a photographer for online newspaper zing.vn. However, his story began with failure. “My first trip was made after I failed my college examination. I felt pressure from my family and I escaped to my uncle’s house in Nha Trang City in the central province of Khánh Hòa”, said An. An stayed there two months and tramped across every corner of the area, and started to feel like a backpacker. In 2001, An joined a group of friends and … [Read more...] about Learning to travel and travelling to learn
Banks expand networks to increase market share
Viet Nam News HÀ NỘI — Domestic banks have been enlarging their network of branches and transaction offices rapidly in recent years in an effort to increase market share. It is estimated that 25 banks have more than 10,700 branches and transaction offices nationwide, mainly in big cities and provinces. State-owned Bank for Agriculture and Rural Development (Agribank), which is one of the oldest commercial banks in Việt Nam with the largest total assets, currently tops the list with more than 2,200 branches and transaction offices across the country. Lien Viet Post Joint Stock Commercial Bank (LienVietPostBank) follows with 72 branches, 260 transaction offices and more than 1,300 post offices that also act as the bank’s transaction offices after LienVietPostBank’s merger with the Postal Savings Services Company in 2011. Next in the ranking is the Bank for Industry and Trade (Vietinbank), Bank for Investment and Development (BIDV) … [Read more...] about Banks expand networks to increase market share