Corporate

Cong Thanh Cement JSC decided to build a second cement station despite its crippling debt volume of roughly $600 million, domestic cement surplus, and unfavourable economic and market conditions. Cong Thanh plans building a new cement station despite heavy losses As of December 31, 2016, the firm’s loan liabilities hit a record of VND13.763 trillion ($605.8 million), comprising short-term loans of VND1.181 trillion ($51.9 million) and long-term loans of VND7.309 trillion ($321.7 million) at VietinBank and VPBank.   Cong Thanh's loan liabilities in 2007-2016 However, despite a revenue boost in 2016, the two new production lines put a great burden on fixed asset depreciation and capital … [Read more...] about Cong Thanh’s questionable investment in face of crippling debt

In order to accomplish the revenue target of $90 billion by 2020, CJ Group (South Korea) must dominate all four key business areas in which the group is expanding its business activities. Therefore, continuously acquiring targeted companies appears to be the fastest way. The perfect match from Vietnam In recent years, Gemadept has emerged as an attractive option for investors in the field of logistics, including JP Morgan, Nikko, NTAsset, Composite, Consilium, TAELPartners, Seafarer, Dunross, CIM, Indochina Capital, SSI, MBS, VFM, Sarus Capital, and Bao Viet Fund. Gemadept is not CJ Group's only target in the field of logistics. Photo: Duc Thanh Projects that have been deployed at strategic locations in key industrial zones, especially those in core business areas such as port operations or logistics, are the … [Read more...] about CJ Group buying offensive to bring revenue to $90 billion

KOROR, Palau: An heir to the DHL Express empire has been arrested again in Palau for alleged drug trafficking, authorities in the Pacific island nation said Friday (Oct 13). A distribution centre of German postal and logistics group Deutsche Post DHL is pictured in Obertshausen, Germany June 15, 2016. Photo source: REUTERS/Ralph Orlowski Larry Hillbroom Jr., a multi-millionaire who holds US and Palauan passports, was arrested on Tuesday for allegedly dealing methamphetamine, Justice Minister Raynold Oilouch said. According to court documents, Hillbroom was charged with two counts of trafficking a controlled substance, an offence which carries a sentence of 25-50 years in Palau. He was already awaiting trial on a separate drug trafficking charge. The Supreme Court set bail at $250,000 which had … [Read more...] about DHL heir faces more drug trafficking charges in Palau

SEOUL: Jay Y. Lee, the billionaire heir to South Korea's Samsung Group, should find some comfort that its crown jewel Samsung Electronics Co Ltd has reported record profit every quarter since he was jailed in February, making him even richer. Samsung scion Lee Jae-yong is accused of bribing the ousted president's confidante in order to win favours and ease a controversial merger deal AFP/Ahn Young-joon Detained over charges that he bribed former president Park Geun-hye, Lee has since missed the launch of two new flagship phones and three record-breaking quarterly earnings, including July-September earnings guidance on Friday. He will also be briefed that his top lieutenant and chief executive of Samsung Electronics, Kwon Oh-hyun, has decided to step down to make way for a new leader. Kwon, who was expected to take … [Read more...] about Behind bars, Samsung scion Lee sees his wealth top US$2 billion

Vinasun is running headlong into a PR fiasco with its red-banner campaign protesting ride hailing service firms like Uber and Grab, risking potential legal proceedings to add to the burden of its ailing busines operations. Vinasun and other traditional taxi companies' banners may be a violation of domestic competition law According to lawyer Nguyen Van Hau, chairman of the Vietnam Lawyers' Commercial Arbitration Centre, Vinasun and other traditional taxi firms’ affixing banners on their cabs to protest ride-hailing firms are in violation of domestic competition law. Specifically, the act may constitute libel or defamation. According to Article 43 of the Law on Competition, enterprises are prohibited from defaming or libeling another enterprise by direct or indirect acts providing untruthful information … [Read more...] about Vinasun’s anti-Uber and Grab banners backfire

TOKYO: The head of Japan's Kobe Steel warned Thursday (Oct 12) that a quality control scandal engulfing his firm was likely to widen at home and abroad, as he acknowledged that trust in the steelmaker has "fallen to zero". Kobe Steel President Hiroya Kawasaki bows in apology Thursday over the growing scandal AFP/STR The comments came as a growing list of customers, including major automakers Toyota, Nissan and Honda, scramble to assess the safety of vehicles containing products supplied by the company, which has admitted falsifying quality data for products sold to some 200 clients. The head of Japan's number three steelmaker said Thursday that his firm was checking with more Japanese clients as well as foreign buyers including General Motors. "We deeply apologise," Hiroya Kawasaki told a press briefing as … [Read more...] about Japan’s Kobe Steel CEO warns of deepening quality scandal

Anphabe has launched Vietnam Happiness at Work Summit 2017 today in the presence of more than 600 CEOs and HR managers from top organisations in the country. With the topic of “Driving sustainable growth through happier workforce,” the event was held within the framework of Anphabe’s annual “Thought Leadership” series, bringing a new platform for the leadership and management teams to join to learn, share experiences, and obtain a thorough grasp of the latest trends in shaping an engaged, efficient, and loyal workforce. More than 25 local and international speakers will attend the event, discussing five important angles: “Happiness Trends,” “Happiness Essentials,” “Happiness & Business,” “Happiness Leadership,” and “Happiness Innovation.” Each angle comprises of … [Read more...] about Anphabe kicks off Vietnam Happiness at Work Summit 2017

Son Kim Land Corporation has announced its partnership with international food and beverage brand Pourcel Château to launch a chain of food and café restaurants in the prime locations in Ho Chi Minh City. Jacques Pourcel, president of Pourcel Château Company said: "We believe in the development of the food industry in Vietnam in the future. With talented chefs, who have been successful all over the world for many years, this time, we introduce our talents with the desire to bring to Vietnamese consumers the fine and high-class culinary experiences of France." The partnership of SonKim Land and Pourcel Château reaches long-term and sustainable cooperation in order to bring about higher benefits to both parties and contribute to the development of the Vietnamese food industry. "The Pourcel Brothers, Jacques and Laurent, have won three Michelin honorable stars in their … [Read more...] about SonKim Land shakes hands with famous food brand Pourcel Château

At the 4th Vietnam Corporate Sustainability Forum (VCSF 2017) held on October 10 in Hanoi, Heineken Vietnam has been recognised as applying exemplary sustainable business practices to its operations and bringing positive impacts to the local commutnity and the environment. Heineken Vietnam's vision and willingness to take initiative for sustainable development are lauded across the industry RELATED CONTENTS: HEINEKEN Vietnam backs sustainable growth for a better Vietnam Heineken brings UEFA Champions League Trophy Tour to Vietnam Heineken Vietnam contributes to water resources security in Vietnam Heineken steps up game with colossal Vung Tau … [Read more...] about Heineken Vietnam recognised at Vietnam Corporate Sustainability Forum

The plan to add capital to Son Ha International Joint Stock Company (Son Ha)’s existing project in Myanmar is considered a part of its strategy to expand operations aboard as the domestic stainless steel products market is seeing fierce competition. Son Ha's Son Tay branch is now selling Truong Tuyen's stainless steel tanks Son Ha was considered one of the Vietnamese leading manufacturers of stainless steel household and industrial products with soar growths in revenue, however, within recent five years, the domestic market has become more competitive with the join of both domestic and foreign competitors. Thus, Son Ha is forced to find solutions to create basic for the new development step, expansion its presence in aboard, is one of these solutions. In 2016, Son Ha exported its products to 30 countries around the … [Read more...] about Son Ha looking to increase overseas activity