AkzoNobel N.V. (AKZA; AKZOY) has completed the sale of its Specialty Chemicals business to The Carlyle Group and GIC for an enterprise value of €10.1 billion ($11.6 billion) on October 5. Poland-based headquarter of AkzoNobel This is a key milestone in the history of AkzoNobel, creating a focused paints and coatings company with market leading position, strong global brands, and a clear strategy to create value for all our stakeholders. “This is also an important step for the Specialty Chemicals business and I would like to take this opportunity to thank our colleagues and wish them a successful future with Carlyle and GIC,” Thierry Vanlancker, CEO of AkzoNobel, said. Charles Shaver, CEO of Specialty Chemicals, said: “I am delighted to assume my new role at Specialty Chemicals and look forward to working with the management team, Carlyle, and GIC to deliver long-term success. Specialty Chemicals has a strong global presence and a talented and dedicated … [Read more...] about AkzoNobel sells Specialty Chemicals to The Carlyle Group and GIC
Asset to the company
Wipro Unza CEO reveals how to make employees love the company as their home
The story of Wipro Unza having been voted one of the Best Companies To Work For In Asia 2018 is a great example of building an open, friendly, professional and effective work environment. Last year, Wipro Unza was awarded Best Places To Work For In Vietnam 2017. At the award ceremony in Ho Chi Minh City on September 14, Pham Hai Van, CEO of Wipro Unza Vietnam said " This is the result of the engagement and dedication of all of the employees in sticking together to create a working environment as a second home. At the same time, the award also demonstrates our focus on human resources as the company's most valuable asset, which is critical to the sustainable development of our company. We have proven that together we are able to achieve whatever we want. Every day, we are constantly seeking and creating new opportunities through diverse talents in knowledge, skills and thinking. We give our employees challenging jobs to boost their limits and improve their capabilities. … [Read more...] about Wipro Unza CEO reveals how to make employees love the company as their home
VAMC, banks auction mortgaged assets to recover bad debts
VAMC, banks auction mortgaged assets to recover bad debtsThe Saigon Times Daily VAMC and multiple banks have auctioned mortgaged assets to settle bad debts - PHOTO: THANH HOA HCMC - Vietnam Asset Management Company (VAMC) and multiple banks have put up the mortgaged assets for auction to speed up the settlement of bad debts, according to Nguoi Lao Dong newspaper. VAMC announced its business plan earlier this year, which stated the company would buy a maximum of VND32 trillion (US$1.4 billion) worth of nonperforming loans using its special bonds and would use cash to purchase VND3.5 trillion worth of bad debts. VAMC targeted settling some VND34.5 trillion worth of bad debts this year. VAMC recently seized entitlement certificates over 13 land plots and land-attached properties, including a plot of land and assets on Nam Ky Khoi Nghia Street in HCMC’s District 3. Green City Construction Investment JSC had used the assets as collateral for loans taken from Vietnam Bank for … [Read more...] about VAMC, banks auction mortgaged assets to recover bad debts
Trial re-opens to review $51 million payment to swindled companies
Huỳnh Thị Huyền Như, former deputy chief of the Risk Management Department at VietinBank’s HCM City branch. — VNA/VNS Photo Thành Chung HCM CITY — The People’s Court of HCM City on May 28 opened a new trial in the case of Huỳnh Thị Huyền Như, former deputy chief of the Risk Management Department at VietinBank’s HCM City branch, and Võ Anh Tuấn, deputy director of VietinBank’s Nhà Bè branch, on charges of "swindling to appropriate assets" worth VNĐ1.085 trillion (US$51 million) from five companies The court reopened the case after receiving letters of appeal from four of the five affected companies. In February, the People’s Court of HCM City upheld a life sentence given two years ago to Huyền Như and a seven-year jail sentence for Võ Anh Tuấn on charges of swindling customers out of nearly VNĐ1.085 trillion. Như was asked to … [Read more...] about Trial re-opens to review $51 million payment to swindled companies
Seafood firm Hùng Vương to sell assets to offset losses
Viet Nam News HCM CITY — Hùng Vương Corporation (HVG), one of the biggest seafood processors in Việt Nam, has reported losses for the last two financial years. The company incurred losses of VNĐ49 billion (US$2.2 million) and VNĐ713 billion in the 2016-2017 and 2017-2018 fiscal years. A fiscal year begins in October and ends in September of the following year. Shares of HVG, which is listed on the HCM Stock Exchange under code HVG, are down 36 per cent compared to the beginning of this year and down 45.4 per cent compared from their peak for 2018 so far on January 10, due to the company’s weak business performance. According to an official letter sent by HVG to the State Securities Commission in late March, HVG plans to divest capital from some of its subsidiaries and sell real estate to offset losses. The company will divest 100 per cent of its capital from Sao Ta Food Joint Stock Company and 50 per cent of its capital from Việt … [Read more...] about Seafood firm Hùng Vương to sell assets to offset losses