The Vietnam M&A Forum 2019 press conference took place in Hanoi on July 23 Photo: Dung Minh On July 22, Vietnam’s mergers and acquisitions (M&A) market heated up when South Korea’s KEB Hana Bank, a subsidiary of Hana Financial Group closed a $885 million deal to acquire 15 per cent in Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) so as to broaden business activities in the country. The new move, the biggest-ever M&A deal with foreign involvement in the history of the local banking sector, came one day before the press conference for the upcoming Vietnam M&A Forum – the biggest of its kind in Vietnam. Michael DC Choi, deputy general director of the Korea Trade Investment Promotion Agency (KOTRA), said at the press conference, “On trends, and on the big deals, the main [Korean] focus is on the banking and finance industry as the latest deal between KEB Hana and BIDV shows. In addition, the deals between SK Group … [Read more...] about Field opens up for bigger M&A deals
Opening japanese bank account
Citi sees strong growth in banking clients
US-based bank Citi is targeting 25 per cent growth in revenues from client work in intra-Asia trade corridors in 2019 after posting strong growth in these corridors in 2018. Citi anticipates strong revenue growth in intra-Asia trade corridors in 2019 Citi’s client growth will mainly come through a series of key trade corridors in the Asia Pacific region that the bank has identified and invested further resources in which has supported growth. The bank’s key corridors include Korea to ASEAN, Korea to China, Korea to India, Japan to the ASEAN, Japan to China and China to the ASEAN. “Asia is capturing a greater share of global trade and US companies will increasingly target Asia and we expect strong growth as intra-Asian trade corridors expand further,” said Gerry Keefe, Citi’s head of Corporate Banking, Asia Pacific. Having recognised the shift in trade flows and the stronger presence that China and broader Asia will continue to play in the … [Read more...] about Citi sees strong growth in banking clients
Dai ichi Life Vietnam Fund Management Company launches open ended fund
Dai-ichi Holdings is deepening its roots in Vietnam in order to cash in on the market’s immense potential. Dai-ichi Life Vietnam has grown into the fourth largest life insurers in Vietnam Dai-ichi Life Vietnam Fund Management Company Limited – the wholly-owned subsidiary of Dai-ichi Life Insurance Company of Vietnam which is a member of Dai-ichi Holdings Inc. from Japan – has just launched its DFVN Capital Appreciation Fund with the charter capital of more than VND75 billion ($3.2 million). The move is in conformity with the Incorporation License for public securities investment fund No.34/GCN-UBCK by the State Securities Commission of Vietnam dated January 3, 2019. The new fund (DFVN-CAF) is the first open-ended fund established and managed by DFVN. With dedicated and experienced on-the-ground team of professionals, DFVN has been entrusted to manage the life insurance funds of the Dai-ichi Life Insurance Company of Vietnam (or Dai-ichi Life Vietnam) with … [Read more...] about Dai ichi Life Vietnam Fund Management Company launches open ended fund
Dai-ichi Life Vietnam Fund Management Company launch Open-ended Fund – DFVN Capital Appreciation Fund
DFVN-CAF is the first Open-ended fund established and managed by DFVN. With dedicated on-the-ground experienced team of professionals, DFVN has been entrusted to manage life insurance funds of capital of the Dai-ichi Life Insurance Company of Vietnam, Limited (Dai-ichi Life Vietnam) with the total asset under management over VND17,000 billion as of November 2018. Taking a long term view, DFVN emphasizes being disciplined in investment process while remains flexible in execution of investment tactics in response to market conditions. DFVN-CAF investment strategy is the combination of value style - setting a foundation of quality investment assets/equities with good fundamentals that can bring in stable sources of return, and growth investment strategy - navigating opportunities for potential higher income; a fusion investment method combining “top-down” macros, industry analysis and “bottom-up” approach looking deeper into company fundamentals, stock valuations … [Read more...] about Dai-ichi Life Vietnam Fund Management Company launch Open-ended Fund – DFVN Capital Appreciation Fund
BUSINESS NEWS IN BRIEF 10/12
Fayfay.com announces strategic partnership with Ho Chi Minh City tourism Hong Kong-based Fayfay.com on December 6 announced that it signed a Memorandum of Understanding (MoU) with the Ho Chi Minh City Tourism Promotion Centre to promote tourism in Vietnam, with a special focus on the city. The MoU was signed by Tran Ngoc Dong Quan, deputy director of the Ho Chi Minh City Tourism Promotion Centre, along with Kingston Lai and Kelvin Wu, the co-founders of Fayfay.com, at Bep Nha Luc Tinh Restaurant in Ho Chi Minh City, in the presence of industry experts and members of the media. “Ho Chi Minh City is an important destination on Fayfay.com and we look forward to partnering with the Ho Chi Minh City Tourism Promotion Centre to showcase the city’s vibrant architecture, rich culinary scene, and authentic local experiences,” said Lai. “We believe strategic joint promotional activities with the Tourism Promotion Centre will enable us to leverage our online platform and … [Read more...] about BUSINESS NEWS IN BRIEF 10/12