VietNamNet Bridge - Bank shares and state-owned enterprises’ (SOEs) IPOs (initial public offering) have become highly attractive to foreign investors. The bank share price has increased by 23 percent on average in the last three months, which represents the sharpest increase since 2013 and a two-fold increase compared with the region’s. According to Bloomberg, the Vietnamese bank share price has seen the sharpest increase in Asia. Investor confidence in Vietnamese commercial banks increased after the Vietnam Asset Management Company (VAMC) announced it had bought VND123 trillion worth of bad debt, helping the bad-debt ratio of the Vietnamese banking sector fall from 17 percent to 3.25 percent after three years of restructuring. Meanwhile, at the M&A (merger and acquisition) forum held recently, chair of the State Securities Commission (SSC) Vu Bang said that the legal document on lifting the foreign ownership ratio ceiling would be released in August. According … [Read more...] about Foreign investors welcome State-owned companies’ IPOs and lift on foreign-ownership ratio
Investors
PVOil attracting foreign investors ahead of its upcoming IPO
The Hanoitimes - Ahead of the Petro Vietnam Oil Corporation’s (PVOil) Initial public offering (IPO) on January 25 in the Ho Chi Minh Stock Exchange, eight investors have expressed interest in becoming its strategic shareholder in an effort to enter Vietnam’s petroleum market. Sovico Holdings of the Vietnamese billionaire Phuong Thao, founder of the Vietjet Air is among the eight investors, including Shell, Idemitsu, Kuwait Petroleum International, Puma, SK, PTT and Sacom Investment Fund, informed the PVOil CEO Cao Hoai Duong on the sidelines of a roadshow on January 12. PVOil will be an important step for foreign investors entering Vietnam's petroleum market. PVOil, currently a subsidiary of PetroVietnam (PVN), is the second largest petroleum retailer in Vietnam with 22% market share, behind Vietnam National Petroleum Corporation (Petrolimex). The firm operates a network of 540 gas stations nationwide under the form of company owned company operated … [Read more...] about PVOil attracting foreign investors ahead of its upcoming IPO
Foreign investors want to go deeper into banks
(VEN) - Foreign investors want to buy not only bad debts from banks but also contribute their capital to credit institutions. For this reason, many economists are concerned about restructuring banks via increasing the cap on foreign investor shares. Foreign investors want to buy bad debts By early this October, eight of nine weak credit institutions had been restructured via incorporation and merger. The success of the restructuring isn't necessarily immediately clear. However, it is obvious that weak banks had been removed and credit institutions had improved their business efficiency. Dr. Vu Dinh Anh said that in the near future an assessment on the merger and incorporation of commercial banks would be needed to draw the lessons in the future and consider whether to take further steps. From now to the year 2015 it is also necessary to identify credit institutions which would need to undergo restructuring as they expose their weaknesses, said Vu Dinh Anh. Together with mergers and … [Read more...] about Foreign investors want to go deeper into banks
Efforts in calling investors
Quang Ngai Government has been making more joint-efforts in pushing up development in the Dung Quat site, which was approved by the Vietnamese Government to be the National Refining-Petrochemical Industry Center. Quang Ngai Government has been making more joint-efforts in pushing up development in the Dung Quat site, which was approved by the Vietnamese Government to be the National Refining-Petrochemical Industry Center. Simple clear investment formalities and supports for investors have been developed by the local Government to attract investors. DEZA has been building some detailed plannings (scales: 1/2000) for Dung Quat II Industrial Zone, Doc Soi Urban Area, Dung Quat Port No. 2. Vice Chairman Thich in his meeting with DEZA directed that it must actively make proposals of long-term strategically effective constructions for the zone's development. DEZA was asked to kick off cooperation and introducing Dung Quat's opportunities to … [Read more...] about Efforts in calling investors
Singaporean investors received investment certifications in Quang Ngai
Quang Ngai Provincial People’s Committee Chairman Mr. Cao Khoa granted in-principle-investment certification to the investor on Monday in Ha Hoi under witness of Vietnamese President Truong Tan Sang and Singaporean PM Tony Keng Yam (Photo:QNDT) Two Singaporean leading firms: Vietnam-Singapore Industrial Park JV Co. Ldt and Sembcorp Utilities - have just received in-principle-investment certifications from Quang Ngai Government on Monday in Ha Noi under witness of state President of Vietnam, Mr. Truong Tan Sang and Prime Minister of Singapore, Mr. Tony Keng Yam to develop VISP project and a thermo power plant in Dung Quat Economic Zone, Quang Ngai province. The first investment certification was granted to Sembcorp Utilities for a build-organize-transfer-investment (BOT) of the 1,200 MW-150-ha-thermo power plant in Dung Quat Economic Zone with total registered capital of over 2 billion USD. As licensed, the plant will start commercial run in 2018 and supply power to the site and … [Read more...] about Singaporean investors received investment certifications in Quang Ngai