The Hanoitimes - The said amount in transactions was expected to total VND355 billion (US$15.24 million) or VND26,300 (US$1.13) apiece under the current market price recorded by the end of August. Foreign investors transferred 1.35 million shares of Techcombank, backed by global private equity fund manager Warburg Pincus on August 31, according to the Vietnam Securities Depository (VSD). Illustrative photo. On August 31, Deutsche Bank AG London transferred 750,000 shares of Techcombank to British Columbia Investment Management Corporation. Additionally, Forum One - VCG Partners Vietnam Fund moved 300,000 shares each to Vietnam Growth Stock Income Mother Fund and Seahedge Philippines Fund on the same day. The said share amount in transactions was expected to total VND355 billion (US$15.24 million) or VND26,300 (US$1.13) apiece under the current market price recorded by the end of August. Deutsche Bank previously sold 8.75 million shares … [Read more...] about Foreign investors change hands 1.35 million shares of Warburg-backed Techcombank
Foreign investors
Vietnam banks face challenges in private offering to foreign investors
The Hanoitimes - Current legal regulations are hindering state-owned banks to attract foreign investors to their private placement though the measure is considered effectively to help the banks meet its urgent need for capital increase under the State Bank of Vietnam (SBV)’s regulation on Basel II standards. State-owned banks, such as Vietcombank and BIDV, have so far this year continuously failed to sell stakes to foreign investors. It has caused them headache as they are under great pressure to hike capital to satisfy Basel II standards. Under SBV’s Circular, banks must maintain a capital adequacy ratio (CAR) of at least 8 percent as per Basel II norms, starting in 2020. With the new regulation, the CAR of the banks will fail to reach the minimum level set by the SBV if they fail to increase capital. A transaction office of Vietcombank. Photo: VNA Earlier this year, Vietcombank planned to sell more than 350 million shares, or a 10 percent stake, to foreign … [Read more...] about Vietnam banks face challenges in private offering to foreign investors
Foreign investors pursue more indirect investments
Foreign investors pursue more indirect investments By Hung Le An employee works at a research lab in a U.S. Huntsman’s factory in Vietnam - PHOTO: VY MAI HCMC – Vietnam has seen foreign investments in local enterprises, through capital contributions and stake purchases, skyrocketing this month. Data from the Ministry of Planning and Investment’s Foreign Investment Agency shows that while new foreign direct investment (FDI) approvals in Vietnam in August have not been significant, there has emerged a phenomenal hike in projects being conducted by foreign investors through capital contribution and stake acquisition. In particular, Vietnam has attracted an additional US$1.4 billion in FDI capital in August, over half of the pledged capital for July. However, according to the Investment Promotion Agency, this month has seen the most projects financed by foreign investors through capital contributions and stake purchases among the first eight months of 2018, … [Read more...] about Foreign investors pursue more indirect investments
Wind power in Vietnam starts getting more foreign investors’ interest
The Hanoitimes - Foreign investors have started showing more interest in Vietnam’s wind power generation market in recent months, however, they suggested the government to raise the power price to make it more reasonable. Tra Vinh Province People’s Committee has recently given the go-ahead to Singapore-based Janakuasa Pte Ltd and Ecotech Vietnam to build the Hiep Thanh Wind Power Plant with a total investment of VND3.37 trillion (US$146 million). The 2,700ha plant has a designed capacity of 78MW from 18-19 turbines. Vietnam targets to have an output of 6,000 MW of wind power by 2030 Earlier, Tra Vinh province also licensed South Korea’s Unison eTech Co Ltd and HCM City-based Asia Energy Petroleum Corporation to develop the first phase of the Duyen Hai wind power project, which will see an investment of VND2.8 trillion (US$125 million) in its first phase with a designed capacity of 48.3MW from 21 turbines. Once operational in December 2019, the project is … [Read more...] about Wind power in Vietnam starts getting more foreign investors’ interest
Foreign investors gear capital to high-tech industries in Vietnam
The Hanoitimes - The government’s plans to improve the quality of FDI inflows have brought initial results with more foreign investors targeting to set up high-tech projects in the country. During a recent working session with authorities of southern Binh Duong province, Executive Managing Officer of Sharp Corporation Yoshihiro Hashimoto mentioned a plan to build a factory worth nearly US$2 billion to manufacture high-tech camera modules and smart phone screens in the province. Hoa Lac Hi-Tech Park sets to lure some US$1 billion of investment capital in 2018 In the first stage, Sharp plans to spend roughly US$300 million, about US$200 million of which will be for machinery and equipment. The location of the plant is under discussion. Le Hoai Quoc, head of the Saigon High-Tech Park (SHTP) management board, said many Japanese-invested projects will be licensed in the near future, notably a US$250 million investment in a complex featuring a high-tech hospital and a … [Read more...] about Foreign investors gear capital to high-tech industries in Vietnam