Corporate

Hung Thinh Corporation, the developer of Hai Giang Merry Land Quy Nhon, the largest tourism complex in Binh Dinh province, has rejected the news that Macau’s leading entertainment SJM Holdings Limited was proposing to participate in this project. Answering questions raised by VIR on this issue, Truong Van Viet, vice chairman of Hung Thinh Corporation confirmed that Hung Thinh so far has not yet any direct contact, meeting, or signing any agreement with SJM Holdings Limited on the involvement in this project. Viet added that the company is now developing the Hai Giang Merry Land located in Quy Nhon city and it is now calling other partners to co-develop this project. “With the large scale and potential of the Merry Land project, it is now interested by many large-scale foreign partners. Hung Thinh Corporation is opening up the cooperation opportunities for any feasible partners to go with us in this project,” Viet said. Due to the COVID-19 pandemic, only foreign partners with … [Read more...] about Uncertainty covers the involvement of SJM Holdings in a $6 billion project in Binh Dinh

Vietnam said it has relaxed quarantine rules for foreign businessmen. Roughly 570 businesspeople from South Korea will arrive in Vietnam today [July 22] as the two countries make efforts to facilitate economic activities in the face of economic slowdown in the Southeast Asian country. South Korean experts arrive in Vietnam. Photo: Bsr.com.vn The businessmen will come to Vietnam on chartered airplanes, Yonhap News Agency cited the South Korean Ministry of Trade, Industry and Energy (MOTIE). MOTIE said a group of more than 1,500 people will also be sent to Vietnam throughout August. According to MOTIE, Vietnam was South Korea’s third largest export destination in 2019. Meanwhile, statistics by Vietnam’s Ministry of Planning and Investment showed that South Korea was Vietnam's biggest investor in the same year with US$7.92 billion worth of foreign direct investment (FDI), accounting for 20.8% of the Southeast Asian country’s FDI in 2019. Big South Korean … [Read more...] about 570 South Korean businesspeople to arrive Vietnam today

KAB is looking to capitalise on the growing energy demand in Vietnam As reported by Focus Malaysia , KAB Energy Power and Janakuasa will form a special purpose vehicle to scoop up the majority stakes in three hydropower plant projects in the country with an aggregate installed capacity of 180MW. The projects have existing power purchase agreements (PPA) with Electricity of Vietnam (EVN) which will expire between January 2030 and 2039. They have commenced commercial operations between 2015 and 2019 Janakuasa, an established private energy investor based in Malaysia and Singapore, is a leading investor in thermal power and renewable energy in Vietnam. Janakuasa has been developing the Ecotech wind farm project since 2015. To date, Janakuasa has over 1,000MW of power projects under construction in Vietnam and a further 300MW of wind and 200MW of mini hydro projects in development. Janakuasa is teaming up with its partners to construct two power plants in Vietnam, including a … [Read more...] about Malaysia’s KAB ventures into Vietnam’s renewable energy market

The Things That Count photography exhibition sends signs of hope by creating an international network of upcoming artists The exhibition, named Things That Count, is held with support from the Embassy of Belgium in Vietnam, the Royal Academy of Fine Arts (Antwerp, Belgium), and Matca Space for Photography. Things That Count is an online collaboration between young photographers from Europe and Vietnam. During 10 weeks in March and May 2021, students from the Photography department of the Royal Academy of Fine Arts in Antwerp, Belgium communicated online in text and images with young Vietnamese photographers about important current topics in modern society. The 10 values chosen include family, safety, gender, heritage, humour, intimacy, freedom, power, knowledge, and faith. In times of COVID-19, existential questions are posed to young people who are now facing an uncertain future. In times of COVID-19, existential questions are posed to young people who are now … [Read more...] about Photography exhibition features values and connection in times of COVID-19

BVB shares closed the June 22 session at VND22,100 (96 US cents) As planned, Saigonbank will publicly auction more than 8.26 million BVB shares, equivalent to 2.25 per cent of the outstanding shares, with the starting price of VND22,800 (99 US cents) per share. Saigonbank can earn nearly VND190 billion ($8.26 million) from this divestment. Purchase registration is set from June 25 to July 14. The minimum number of subscriptions is 100 shares. Previously, Saigonbank was proposed to sell BVB shares with the starting price of VND15,610 (68 US cents) per share. However, BVB shares have nearly doubled since April, so the bank has to adjust the starting price. BVB's share price has grown significantly in the past month from more than VND20,000 (87 US cents) a share to the highest level of VND26,000 ($1.13) a share on June 1. According to financial statements for the first quarter of Saigonbank, its pre- and post-tax profits were up 21 and 22 per cent over the same period last … [Read more...] about Saigonbank divests Viet Capital Bank

PVI Opportunity Fund is now a major shareholder of OPC Pharmaceutical JSC PVI Opportunity Fund has just announced buying 6.6 million OPC shares of OPC Pharmaceutical JSC (OPC), becoming a major shareholder of this company. The shares bought account for 24.83 per cent of the total outstanding voting shares of OPC. Prior to the transaction, PVI Opportunity Fund did not own any OPC shares. The purchase took place after OPC leaders put millions of shares on sale. Previously, Nguyen Chi Linh, vice chairman of the Board of Directors of OPC, registered to sell all of his 4.6 million shares (17.31 per cent). Meanwhile, Nguyen Thi My Hanh, a member of the Board of Directors of OPC, registered to sell 958,185 shares to reduce her ownership from 3.66 to 0.05 per cent. The transaction is expected to take place from June 21 to July 20. Also, Phan Cong Cuong, a member of the Supervisory Board, registered to sell all 53,300 shares to reduce his ownership from 0.2 to 0 per cent of charter … [Read more...] about PVI Opportunity Fund becomes OPC’s large shareholder