HCM CITY — The HCM City and Philippine stock exchanges yesterday signed a memorandum of understanding for co-operation in various areas. These include human-resource training and sharing of information, which covers listing management, member management, stock exchange administration and services, HoSE general director Tran Dac Sinh said. "Viet Nam's stock market is still young compared to others around the world," HoSE chairman Nguyen Doan Hung said. "Therefore HoSE needs to improve its competitiveness and maintain growth. "The Philippine Stock Exchange is a relatively attractive destination for international capital thanks to its developed financial system, capital market and legal framework. HoSE can learn from its experiences." Francisco Lim, general director of the PSE, expected the partnership to promote co-operation between the two exchanges and enable their development, especially at a time when the global economy and financial market are badly impacted by the economic … [Read more...] about Philippine bourse links with HoSE
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VIB plans to present on HOSE
Hanoi Times - The Vietnam International Bank (VIB Bank) will consider plans to sell its shares to foreign partners and list on the Ho Chi Minh Stock Exchange (HOSE) in 2008. VIB Bank just held the 12th annual General Assembly of Shareholders, summarizing its business activity in 2007, reporting 2007 benefit allocation project and putting forward business strategies in 2008. Most of the VIB Bank's business norms in 2007 such as the total assets and pre-tax benefit doubled those in 2006. Its number of branches and transaction offices went up from 58 to 82. VIB Bank readjusted its business strategies in line with current context of financial and monetary market in 2008. Its growth rate in the first quarter of 2008 stably developed, such as the total assets, total capital mobilization and pre-tax benefit up 11%, 86% and 67% respectively. VIB Bank targets to reach VND 52,000 billion, VND 35,000 billion and VND 700 billion of total assets, capital mobilization and pre-tax benefit in … [Read more...] about VIB plans to present on HOSE
HOSE operating system’s error fixed
Hanoi Times - Hochiminh Stock Exchange Director Tran Dac Sinh said the technical incident, that led to temporary suspension on May 27, 28 and 29, has been solved. At the press conference on May 29, Mr. Sinh said HOSE would re-operate on May 30. According to Mr. Sinh, the technical specialists of HP Vietnam and Internetcom, which HOSE signed warranty and maitenance contracts with, have found out the error of VMSOpen Operating System. The technical staffs of HOSE worked closely with the technical specialists, and at 10.00 P.M May 28, the error was fixed. The system was checked again at the presence of representatives from 81 HOSE members on May 29 morning. … [Read more...] about HOSE operating system’s error fixed
HoSE to hose down its rivals investors
The Ho Chi Minh City Securities Trading Centre is trading its name. As part of its rebranding it is now known as the Ho Chi Minh Stock Exchange (HoSE) and is turning over a new leaf after seven years operating under government subsidies. "We are seeing many major changes in terms of structure, mechanisms and organisation at the HoSE," said Deputy Prime Minister Nguyen Sinh Hung. The exchange, previously under the State Securities Commission, will operate as a one-member limited liability company with chartered capital of VND1 trillion ($62.3 million) under the Securities and Enterprise Laws. "The good news is that we will be more independent in terms of finance and human resources and have more rights to approve or cancel listings, trading membership as well as inspect and supervise securities trading activities of members," said HoSE director Tran Dac Sinh. HoSE's main income is from collecting $1,250 membership fees and 20 per cent of the daily trading fees from each of its … [Read more...] about HoSE to hose down its rivals investors
HOSE becomes member of World Federation of Exchanges
HOSE becomes member of World Federation of Exchanges Thuy Trieu By Thuy Trieu - The Saigon Times Daily HCMC - The Hochiminh Stock Exchange (HOSE) on October 29 was officially admitted as a member of the World Federation of Exchanges (WFE) at the 53rd General Assembly and Annual Meeting of WFE taking place in Mexico City, according to the statement of the exchange. WFE is one of the world’s largest associations in financial services, with 62 members including exchanges of stocks, futures and options around the world. HOSE said in its statement that becoming a WFE member is an opportunity for the exchange in particular and for Vietnam’s securities market in general. Despite being an attractive destination to international investors, Vietnam’s stock market is still in the group of frontier markets as ranked by index calculators such as FTSE and MSCI due to market scale and conditions. This vastly affects the allocation of investment flows from foreign funds, it … [Read more...] about HOSE becomes member of World Federation of Exchanges