Guotai Junan International Holdings Limited (Hong Kong) has gained approval from Chinese regulators to purchase shares in the Vietnam Investment Securities Company (IVS), cafef.vn has reported. … [Read more...] about Chinese firm completes acquisition of IVS shares
Stock market
Listed companies may find EVFTA rules tough, say securities firms
Hanoi (VNS/VNA) - Vietnam’s benchmark VN-Index has risen since the ratification of the EU-Vietnam trade agreement on the back of listed firms whose exports would be boosted by the deal. However, securities firms have warned their increased share prices may not be sustained as those companies face some internal challenges in meeting the EU’s requirements. Logistics and industrial property are two economic sectors that would benefit from the transfer of capital from the EU to Vietnam as the free trade agreement has opened the door for more foreign investors. Viet Dragon Securities Co (VDSC) says Vietnam may become a new manufacturing hub as US-China trade tensions could shift global manufacturers to Vietnam from China. With the signing of the EVFTA, shipments to Vietnam will increase as foreign companies will have to import machines and equipment to establish their plants in the country. However, VDSC warns Vietnam is becoming highly dependent on foreign direct … [Read more...] about Listed companies may find EVFTA rules tough, say securities firms
Steel firms shouldn’t worry about duties: Association
Hanoi (VNS/VNA) - Despite the imposition of anti-dumping duties on colour-coated steel products by Indonesian authorities, Vietnamese steel producers should not worry about the possibility of losing competitiveness, according to the Vietnam Steel Association (VSA). Recently, Indonesia officially announced the application of anti-dumping duties on colour-coated steel imports from Vietnam, from 12.01 percent to 28.49 percent in five years. Concerns have been raised that this tax imposition will cause difficulties for Vietnamese enterprises, and may cause them to lose the market. However, the VSA said that with large demand in this market, domestic producers will still be able to compete with rivals. According to VSA, 60 percent of made-in-Vietnam colour-coated steel products are exported to Southeast Asian markets including Indonesia, Thailand and Myanmar. The Indonesian Anti-Dumping Committee (KADI) said that from July 2015 to June 2016, Indonesia … [Read more...] about Steel firms shouldn’t worry about duties: Association
G-bond issuance meets 70 percent of yearly plan
Hanoi (VNA) – The State Treasury has mobilised nearly 174.2 trillion VND (around 7.5 billion USD at current exchange rate) through Government bond auctions on the Hanoi Stock Exchange (HNX), fulfilling 70 percent of the yearly plan. The latest auction this week brought in 4 trillion VND (172.38 million USD), with all issued bonds sold. The interest rates in successful bids rose slightly for 10- and 15-year bonds, but down for 20-year bonds compared to the previous auctions on October 24. A report of Military Bank Securities said abundant liquidity of the system and strong drops in inter-bank interests have pushed G-bond interest rate down to a 10-year low. Meanwhile, demand for G-bonds on the primary market is high, reflected in the 100 percent of successful bidding in October, and the participation of 9 to 15 bidders in each auction./. … [Read more...] about G-bond issuance meets 70 percent of yearly plan
Consumer financier FCCOM sells 50 pct stake to foreign investor
Hanoi (VNS/VNA) - The Korean credit issuer Hyundai Card has struck a deal that allows it to buy half of total shares at the consumer finance firm FCCOM for nearly 42 million USD. The deal will help the foreign credit card issuer expand its business in Vietnam, where consumer lending is booming on high domestic consumption, the company said. The deal is expected to complete in the first quarter of 2020 and the post-merger company will start operating in the second half of 2020. "The entry into the Vietnamese market has a significant meaning in that it will mark Hyundai Card's first direct entry into a foreign market," Hyundai Card said in a statement. “Vietnam is one of the world's fastest growing markets. Its market for individual loans is currently growing at an annual average of 60 percent, with the number of credit card holders surged 27 percent on-year to 7.4 million last year.” The Korean firm also plans to explore other markets in Southeast Asia. FCCOM is a … [Read more...] about Consumer financier FCCOM sells 50 pct stake to foreign investor
