Nissan: Leading Sales Growth in China Among Japanese Automakers

(VEN) - Nissan (China) Investment Co., Ltd. (NCIC) on January 10, 2011 announced its sales performance including Infiniti for the whole year of 2010: altogether 1,023,638 units sold in the China market, a 35.5 percent sales growth compared to a year before. Infiniti division sales doubled with 11,513 units sold. In the year of 2010 Nissan's sales in China became the largest over those in US and Japan.  "This has been a productive year for Nissan in China." said Takashi Nishibayashi, president of Nissan (China) Investment Co., Ltd, "With the product lineup expanding continuously and our increasing investment in China, Nissan will manage to keep our strong momentum in this booming market." Dongfeng Nissan Passenger Vehicle Company (DFL PV), under the management of Dongfeng Motor Co., Ltd. (DFL), Nissan's joint venture in China, set a record sales at 660,610 units, a 27.3 percent increase compared to the year of 2009. Zhengzhou Nissan Motor Co., Ltd. (ZNA), also under the management of … [Read more...]

Car importers look to beat road block

Local car importers are trying to continue business in the face of Circular 20/2011/TT-BCT restricting car imports. Most recently, Kars Haiphong International Company Limited, a wholly foreign owned subsidiary of Kars Motor Group in Vietnam, sent to Ministry of Industry and Trade (MoIT) a record relevant to import of less-than-nine seat Nissan automobiles made in Taiwan into Vietnam. The record carries a proxy given by Yushin Motor Company Limited, a unit having the right to distribute Nissan brand automobiles in Vietnam which is also a subsidiary of Yulon Nissan Motor Group, a legitimate manufacturer and owner of Nissan brand vehicles in Taiwan. It also contains a certification proving Kars Haiphong is a licenced automobile maintenance unit by the Vietnam Register. The company is now awaiting an official response from the MoIT about whether it could import and distribute Nissan automobiles made in Taiwan into Vietnam. Earlier in January 20, 2012 the MoIT responded to a Nghe An … [Read more...]

Hoang Huy cuts deal with Dongfeng to assemble trucks

HCMC - Haiphong-based Hoang Huy Financial Services Investment JS Co. on Thursday signed a comprehensive investment and cooperation agreement with China's Dongfeng Motor Co., Ltd in HCMC to assemble Chinese-branded trucks in Vietnam. The local company will become the sole partner in Vietnam of the Chinese vehicle manufacturer, and is authorized to import, assemble and distribute heavy trucks and dump trucks in the local market. Do Huu Ha (R), general director and chairman of Hoang Huy Co., exchanges the signed agreement with Hu Jianguo representing China's Dongfeng Motor Company - Photo: Quoc Hung In the short term, Hoang Huy will import and distribute Dongfeng's trucks from China for sale on the local market. Then, the Chinese partner will transfer technology to the local partner to assemble Dongfeng vehicles in Vietnam. Dongfeng has more than 40 years' experience in the auto industry. The company has exported its products to more than 58 countries and territories. … [Read more...]

60th anniversary of Vietnam-Indonesia ties celebrated

Vice Chairman of the Ho Chi Minh City People’s Committee Le Thanh Liem and Indonesian Consul General in Ho Chi Minh City Jean Anes cut an Indonesian traditional cake at the ceremony. (Credit: VNA NDO/VNA – The Vietnam Union of Friendship Organisations (VUFO) in Ho Chi Minh City held a ceremony on August 21 to celebrate the 60th anniversary of Vietnam-Indonesia ties as well as Indonesia’s 70th Independence Day. Addressing the event, Vice Chairman of the Ho Chi Minh City People’s Committee Le Thanh Liem noted that Vietnam and Indonesia have enjoyed effective collaboration in all fields, especially since they set up a strategic partnership in June 3013. Particularly, political relations between the two countries have grown with strong mutual trust while economic, trade and investment co-operation has been expanded together with affiliations in energy, aviation, culture, education-training and tourism, he said. Vice Chairman Liem stressed that Ho Chi Minh … [Read more...]

SSC declines plan for non-voting depository receipts

HA NOI (VNS ) — Following consultations, the State Securities Commission (SSC) has confirmed it will not adopt a proposal by the HCM City Stock Exchange to allow companies to issue non-voting depository receipts (NVDR). The plan, first proposed by the HCM City Stock Exchange two years ago, was based upon its study of the Thai Stock Exchange, in which a similar plan was enacted in a bid to lure foreign investment to their domestic stock market. The plan was prompted by concerns that foreign investors could not invest in many companies because foreign ownership in these firms had reached the limit of 49 per cent, as stipulated in the current law. Thus, NVDRs would have offered an alternative option for foreign investors who are interested in arbitrage and financial benefits, such as dividends, rights issues or warrants. The possibility of allowing for NVDRs remained open until last week when SSC's vice chairman Nguyen Thanh Long said that the commission would not adopt this … [Read more...]

Quang Binh urged to turn tourism potentials into development opportunities

Deputy PM Nguyen Xuan Phuc speaks at the conference. (Credit: VGP) NDO – Deputy PM Nguyen Xuan Phuc asked the authorities of Quang Binh province to exploit and turn all potentials into opportunities to develop and promote tourism industry. The Deputy PM made the request at a conference on stimulating investment and promotion of the province’s tourism that was held in Dong Hoi city on August 14. The event was also attended by representatives of ministries, branches, organisations and some provinces from Laos and Thailand, along with nearly 300 economic experts, leaders of numerous corporations and enterprises around the country. At the conference, the Chairman of the provincial People’s Committee Nguyen Huu Hoai introduced potentials and strengths of the province as well as the advantages and difficulties for both domestic and foreign investors when investing its tourism industry. The province has called for investment in 35 key projects on development of … [Read more...]

SSC addresses foreign ownership

Customers shop for phones at a The Gioi Di Dong (Mobile World) store. Foreign ownership at Mobile World Investment Co has reached the limit of 49 per cent. Foreigners will be able to lift their stakes here after Decree 60 takes effect in September. — Photo baodautu.vn HA NOI (VNS) — At a meeting held by the State Securities Commission (SSC) on Thursday, investors and domestic companies gathered, raising concerns and offering advice about Decree 60, which was passed in June. The decree raised limits on the level of foreign investment allowed in businesses, which would become increasingly important with major foreign trade agreements recently signed and on the horizon. Participants were largely confused by whether or not they could or should change the amount of foreign stakes in their charter capital, especially problematic for multi-sector companies with conditional businesses on their license. The SSC advised that listed multi-sector companies should try to keep … [Read more...]

Financial shares support the market

Shares managed to make small gains by the end of this morning, despite trading below the reference line for most of the time. Financial shares were the main support of the market. The market condition was rather neutral, with 81 shares rising, 82 falling and 144 closing flat. Photo doanhnhansaigon On the HCM Stock Exchange, the benchmark VN-Index inched up 0.27 points to close at 616.19 points, but the VN30, which tracks the top 30 shares by market value and liquidity, was down 0.47 per cent to end at 646.95 points. Most of the banks such as Vietcombank (VCB), Military Bank (MBB), Vietinbank (CTG) and BIDV (BID), as well as brokerage shares such as Saigon Securities Inc (SSI) and HCM Securities Corp (HCM) advanced. However, other large-cap shares declined or treaded water. The market condition was rather neutral, with 81 shares rising, 82 falling and 144 closing flat. Liquidity improved slightly, compared with yesterday morning, totalling almost 51 million shares worth VND1.1 … [Read more...]

Japan switches focus to VN

HCM CITY (VNS)— Japanese companies are increasingly shifting their investments in Viet Nam to trade and services and relocating projects from China and Thailand to the country, according to the Government's news website chinhphu.vn. Sankoh Vietnam Co Ltd - a Japanese-funded company - produces sensor parts for electronic devices. Japanese firms are relocating their investments in the trade and service sector from other countries to Viet Nam. — VNA/VNS Photo Trong Dat Hirotaka Yasuzumi, executive director of the Japan External Trade Organisation (JETRO), said that most Japanese enterprises wanted to set up shop in Viet Nam as part of their Thailand Plus One strategy. Similarly, Japanese enterprises now in China have adopted a China Plus One strategy. Among Southeast Asian countries, Viet Nam is the primary choice. The Japanese companies are particularly interested in the fields of trade and services and real estate in HCM City. For instance, JETRO said Japanese … [Read more...]

Enhancing sound relations between Vietnam and Malaysia, Singapore

PM Nguyen Tan Dung and his wife (Credit: VNA) NDO – Prime Minister Nguyen Tan Dung, his wife and a high-level Vietnamese delegation begin an official two-day visit to Malaysia today and will attend celebrations for Singapore’s 50th anniversary of independence at the invitation of his Malaysian and Singaporean counterparts Najib Rajak and Lee Hsien Loong respectively. This is an important political event, affirming the Party and State’s policy on prioritising and attaching importance to relations with neighbouring and regional countries, especially as Vietnam, Malaysia, Singapore and ASEAN member countries are intensifying efforts to launch the ASEAN Community at the end of the year. The traditional friendship and multi-faceted co-operation between Vietnam and Malaysia has been unceasingly consolidated. The two countries signed a joint statement on comprehensive partnership in the 21st century in April 2004 and discussed elevating the relationship to a strategic … [Read more...]

Homestay grows popular among tourists

Tran Van Phuong Foreign tourists relax in a bamboo tent in the Mekong Delta Homestay service is available in Mai Chau and Sapa districts in the northwestern provinces of Hoa Binh and Lao Cai, Buon Ma Thuot City in the Central Highlands, and several parts of the Mekong Delta. It is really interesting to stay with local people in a cozy atmosphere like a family to experience daily life and learn more about culture, David Lamb, a Dutch tourist, said while talking about his homestay program in Vinh Long Province. An Italian agricultural engineer identified as Lisa said she has never been to a place where people are as friendly as in the Mekong Delta. A typical entrance to a hamlet in the delta In addition to friendly people, Lisa had the opportunity to taste specialties of the area such as banh xeo (fried pancake), ca ro kho to (braised anabas fish in a clay pot), and sour soup with cork flowers. What made her trip special was she stayed in a bamboo house with a thatched … [Read more...]

Shareholders in big companies make large profits this year

HA NOI (VNS) — Several large companies on the HCM Stock Exchange have spent hundreds to several billions of Vietnamese dong to pay dividends since the beginning of this year. The major shareholders are upbeat about what they have gained from their positive investments here. The southern exchange yesterday said August 13 would be the deadline for shareholders of confectionery firm Kinh Do Corp (KDC) to register for the company's special dividend payment of 200 per cent in cash by the end of this month. This "exceptional" dividend rate will be paid after Kinh Do completes the capital transfer of an 80 per cent stake in Kinh Do Binh Duong Corp, its snack business, to the United States-based confectionery giant Mondelez International Corp. This deal has brought Kinh Do a profit of almost VND6.6 trillion (US$302.8 million) in the first half of this year. This will help the company to surpass the annual profit target by one per cent. Kinh Do will spend VND4.7 trillion ($215.6 … [Read more...]

Trust proves vital to bank’s rising star

It is not by chance that the Bank for Investment and Development of Vietnam has become one of the top lenders in Vietnam. Innovative thinking and a determination for constant improvement have paid off, distinguishing the financial institution from other domestic banks. With its long-term commitment and clear vision, the bank has set a goal to become one of the top 10 banks in Southeast Asia by 2030. As BIDV has distinguished itself as a banking brand that makes accountability its foremost concern, its steady rise looks set to continue Non-stop growth The country has transformed considerably in the past 30 years, achieving many outstanding accomplishments and turning itself from a closed and centrally-planned economy into a dynamically-integrated market economy. The country’s banking system, likewise, has gone through a massive development process, with the Bank for Investment and Development of Vietnam (BIDV), in particular, witnessing radical changes. What was once a bank … [Read more...]

Blue chips undercut market again

Data is updated at the Ocean Securities Company. The VN-Index yesterday fell to 521.06 points after blue chips declined further. — VNA/VNS Photo Tran Viet HA NOI (VNS)— Shares widened their losses yesterday afternoon as blue chips fell on rising precaution about the market outlook. "Investors preferred standing on the defensive line when the market outlook was unclear to protect their portfolios," analysts of FPT Securities Co said on the company's website. On the HCM Stock Exchange, the VN-Index lost 0.88 per cent to close the session at 621.06 points. Blue chips led the downturn as banks, insurers, oil and gas shares - market drivers in previous rallies - all tumbled. Vietcombank (VCB), the biggest stock in terms of market value, dropped 2.2 per cent while other banks like Military Bank (MBB), Eximbank (EIB), Vietinbank (CTG) and BIDV (BID) lost between 0.6-1.5 per cent in value. Insurers took a steeper dive. Bao Viet Holdings (BVH) declined 4.6 per cent. Bao Minh … [Read more...]

Mid-cap shares buoy VN Index as blue chips slump

HA NOI (VNS) — Many mid-cap shares hit the ceiling yesterday afternoon, rescuing the VN-Index from another fall, but liquidity continued to slide as buying power in blue chips weakened. The VN-Index on the HCM Stock Exchange gained just 0.3 per cent to finish the session at 626.57 points. The advancers outnumbered the decliners by 111-92 while other 103 closed unchanged. Money focused on speculative stocks that pushed up both prices and trading volumes of those shares. Real estate Sao Mai Group (ASM), Quang Nam Rubber Investment (VHG), PetroVietnam Power Nhon Trach 2 (NT2), sugar producer Thanh Thanh Cong Tay Ninh (SBT) and Viet Nhat Medical Instrument (JVC) were among the top most active stocks with 1.5-4.7 million shares traded on each code. Their prices also soared between 3.4-6.8 per cent by the end of the session. Blue chips were mixed, however. While large-cap stocks such as Vinamilk (VNM), FPT Corp (FPT) and Kinh Do Corp (KDC) and Hoa Sen Group (HSG) extended their … [Read more...]

VN-Index extends losses due to sluggish trading

Shares tumbled again this morning despite a positive opening, driven by sluggish trade and rising caution about the market outlook. Blue chips didn't perform well, falling 0.42 per cent to stand at 648.47 points. Photo vneconomy On the HCM Stock Exchange, the VN-Index lost another 0.29 per cent to close at 622.9 points on negative market breadth, with 78 gainers, 90 losers and 88 stocks remaining unchanged. Blue chips didn't perform well, falling 0.42 per cent to stand at 648.47 points. Mid-cap stocks were still attracting investor interest, as seven of the top 10 active stocks were from this group. HAI Agrochem Co (HAI) was leading the market volume, with 4.2 million of its shares being traded, but its prices dropped 8.51 per cent to close at VND8,600 per share. The overall liquidity continued to slide, as just 56.5 million shares worth more than VND1 trillion (nearly US$46 million) were exchanged by the end of the morning. The market condition here was neutral as the gainers … [Read more...]

Stock market: Blue chips erase morning gains

Strong declines among blue chips on July 29 afternoon erased morning gains and dragged down the benchmark VN-Index by 1.07 percent to close the session at 624.70 points. The market condition on the HCM Stock Exchange was negative as losers outnumbered gainers by 130-84, while other 92 stocks ended flat. Only two of the top 30 shares by market value and liquidity gained value while 24 plummeted, including heavy-weight stocks such as Vietinbank (CTG), Vietcombank (VCB), Sacombank (STB), Eximbank (EIB), Masan Group (MSN), VinGroup (VIC), and Saigon Securities Inc (SSI) with decreases between 0.6-2.2 percent. The VN30 dropped 1.27 percent to stand at 651.21 points. According to analysts, the previous rally was mainly driven by the growth of several major blue chips, but it was not been built on a sustainable foundation. Therefore, they added, a downward correction was essential for the market to accumulate enough valuation to go further. However, there are views that the ongoing … [Read more...]

Blue chips erase morning gains

HA NOI (VNS) — Strong declines among blue chips yesterday afternoon erased morning gains and dragged down the benchmark VN-Index by 1.07 per cent to close the session at 624.70 points. The market condition on the HCM Stock Exchange was negative as losers outnumbered gainers by 130-84, while other 92 stocks ended flat. Only two of the top 30 shares by market value and liquidity gained value while 24 plummeted, including heavy-weight stocks such as Vietinbank (CTG), Vietcombank (VCB), Sacombank (STB), Eximbank (EIB), Masan Group (MSN), VinGroup (VIC), and Saigon Securities Inc (SSI) with decreases between 0.6-2.2 per cent. The VN30 dropped 1.27 per cent to stand at 651.21 points. According to analysts, the previous rally was mainly driven by the growth of several major blue chips, but it was not been built on a sustainable foundation. Therefore, they added, a downward correction was essential for the market to accumulate enough valuation to go further. However, there are views … [Read more...]

Mid-cap shares prop up VN-Index

Mid-cap shares provided the market momentum this morning, as many of them made strong gains, lifting the benchmark VN-Index up 0.26 per cent to close at 633.10 points. The VN30, which tracks the top 30 shares by market value and liquidity, edged up 0.15 per cent to end at 660.57 points. Photo ndh On the HCM Stock Exchange, 94 stocks rose, 92 tumbled and 120 were trading flat. Most of the gainers were mid-cap stocks. Real estate companies made the largest gains, with many rising between five and seven per cent. They included Mien Dong Group (MDG), up seven per cent; Century 21 Co (C21), up 6.7 per cent; Tien Giang Investment and Construction (THG), up 6.4 per cent; and Urban Industrial Development Co No2 (D2D), up 6.3 per cent; as well as Khanh Hoi Investment and Services (KHA), up 5.2 per cent. Blue chips also recovered, as many of them rose slightly or closed unchanged. The VN30, which tracks the top 30 shares by market value and liquidity, edged up 0.15 per cent to end at … [Read more...]

VN-Index has heavy selloffs

An investor watches share movements in the floor of Vietcombank Securities Co. The Vn-Index slumped yesterday on heavy selloffs.— VNS Photo Truong Vi HA NOI (VNS) — Liquidity soared but the VN-Index still failed to sustain morning gains as sell offs happened across the board yesterday. On the HCM Stock Exchange, the VN-Index lost 0.63 per cent to close the session at 631.47 points. The VN30, which tracks the top 30 shares by market value and liquidity, dropped 0.91 per cent to end at 659.60 points. The market condition was negative as decliners doubled advancers, the worst performance since the beginning of June. "From this movement in both market breadth and Index, the market is obviously weakening substantially. The growing momentum has faded and widespread declines across the board induced the market's steep fall," analysts on the financial website vietstock.vn commented. Blue chips had a choppy trading day with many large-cap shares loosing over 2 per cent in … [Read more...]