A view of recently built apartment buildings in HCM City’s Bình Thạnh District. VNS Photo Bồ Xuân Hiệp HCM CITY — The HCM City Real Estate Association (HoREA) has asked the National Assembly to approve a proposal which would give buyers of apartments more time to pay maintenance fees. In a proposal about the management of apartment buildings’ maintenance funds, submitted recently to the Standing Committee of the National Assembly, HoREA said the fee should be paid only after a residents’ committee for the apartment building is selected. The homebuyer’s fee would be paid within 60 months to the bank deposit account of the residents’ committee. Currently, the fee, which is worth two per cent of the total apartment selling price without VAT, is paid to the project developer upon handover of the apartment, creating a financial burden for the buyer. HoREA also recommended that the government have … [Read more...] about Apartment buyers’ fees could be delayed under proposal
Banks no maintenance fees
Foreign investors eye Vietnam’s e-wallet market
Hanoi (VNS/VNA) - Foreign investors have poured into Vietnam’s e-wallet sector as they see huge growth potential in the market in the wake of the Government’s plan to reduce cash payments to below 10 percent of the total payment transaction by 2020. The State Bank of Vietnam (SBV) licensed 27 non-bank institutions to provide intermediary payment services by the end of August, of which 20 offered e-wallets, including well-known names such as MoMo, Bankplus, Vi Viet, VTC Pay, WePay, Vimo, Ngan Luong and Payoo. Most of the institutions have foreign investments, such as the Republic of Korea’s UTC Investment holding a 65 percent stake in VNPT Epay, NTT Data holding 64 percent in Payoo, Hong Kong’s Champion Crest holding 51 percent of Amigo Technologies JSC, Thailand’s True Money owing 90 percent of 1Pay and MOL Accessportal holding 50 percent of Ngan Luong. With the foreign investment capital, most e-wallet providers currently offer free or … [Read more...] about Foreign investors eye Vietnam’s e-wallet market
Foreign investors eye Viet Nam’s e-wallet market
The State Bank of Viet Nam (SBV) licensed 27 non-bank institutions to provide intermediary payment services by the end of August, of which 20 offered e-wallets, including well-known names such as MoMo, Bankplus and Vi Viet. — Photo momo Foreign investors have poured into Viet Nam’s e-wallet sector as they see huge growth potential in the market in the wake of the Government’s plan to reduce cash payments to below 10 per cent of the total payment transaction by 2020. The State Bank of Viet Nam (SBV) licensed 27 non-bank institutions to provide intermediary payment services by the end of August, of which 20 offered e-wallets, including well-known names such as MoMo, Bankplus, Vi Viet, VTC Pay, WePay, Vimo, Ngan Luong and Payoo. Most of the institutions have foreign investments, such as South Korea’s UTC Investment holding a 65 per cent stake in VNPT Epay, NTT Data holding 64 per cent in Payoo, Hong Kong’s Champion Crest holding 51 per cent of Amigo … [Read more...] about Foreign investors eye Viet Nam’s e-wallet market
BUSINESS NEWS IN BRIEF 22/8
Mekong Capital divests from Asia ChemicalsMekong Enterprise Fund II, a unit of Mekong Capital, has completely divested from Asia Chemicals Corporation (ACC) and taken in US$8.9 million, a 2.6-fold increase over its initial investment, after a seven-year holding period.According to a press release issued by Mekong Capital on August 10, in 2011, MEF II invested US$3.8 million in ACC, which was its 10th investment, after others in Mobile World Investment Group (The Gioi Di Dong), Golden Gate, Vietnam Australia International School and International Consumer Products.However, MEF II has now divested from all of its 10 earlier investments. The divestments have helped the fund generate a gross return multiple of 4.5 and a gross internal rate of return of 22.5%.Early this year, MEF II sold five million shares at Mobile World, generating a gross return multiple of 56.9 and an IRR of 61.1%, making it one of the most successful investments in Asia.Also, the fund’s full exit from Vietnam … [Read more...] about BUSINESS NEWS IN BRIEF 22/8
HCMC to introduce smart parking fees
HCMC to introduce smart parking feesThe Saigon Times Daily A customer is searching apps on cellphone. HCMC’s smart parking fee collection plan will be rolled out next month. The fee is collected via an application called My Parking - PHOTO: THANH HOA HCMC - HCMC’s smart parking fee collection plan will be rolled out next month, featuring fee hikes as well as hourly rates for cars. The new parking fees will be applicable between 6 a.m. and 12 a.m. From August 1, charges for street parking in HCMC will be VND25,000-40,000 per hour, increasing according to the duration of parking. The city recently suggested the Authority of Telecommunications should let the city use service number 6868, used for parking services and fee collection. The fee is collected via an application called My Parking. This would give drivers a new payment option, besides using international and domestic payment cards. The HCMC People’s Council earlier issued a resolution on the temporary … [Read more...] about HCMC to introduce smart parking fees