By Bich Quyen – Translated by Anh Quan
Foreign investors continued to net sell nearly VND500 billion on the whole market. Of which, they net sold VND470 billion on the HoSE. Liquidity remained at a high level with a total trading volume of 819 million shares, worth more than VND18.1 trillion. Of which, put-through transactions accounted for nearly VND1.77 trillion.
The stock market traded with caution from investors after the new General Director of the HoSE Le Hai Tra spoke in the media about a solution to prevent network congestion, which possibly is to raise the minimum round lot from 100 shares to 1,000 shares to reduce the load for the trading system.
According to the HoSE’s calculations, increasing the round lot to 1,000 shares can reduce the total number of trading orders by 40-50 percent, at the same time, it can pave the way for new heights of market liquidity.
Mr. Tra said that that might only be a temporary solution to solve the current network congestion situation. In the future, when the new stock trading system comes into operation, there will be an odd-lot board, and it is also possible to return to the current round lot of 100 units. However, this opinion faced considerable opposition from investors because it will make it difficult for investors, especially small investors. Because they will have to spend 10 times as much as currently to buy stocks on the HoSE.
Another solution to prevent network congestion for the HoSE is to transfer some stocks from the HoSE to the HNX, the State Securities Commission (SSC) has just sent documents to the HoSE, the HNX, and the Vietnam Securities Depository (VSD) on this.
Accordingly, the SSC requested the HNX to promptly accept and receive listed companies from the HoSE, without reviewing their records following the new listing process. The transaction mechanisms, transaction supervision, listing management, reporting, and information disclosure will be applied the same as companies listed on the HNX. The HoSE and the HNX will cooperate in supervising transactions for these stocks to ensure continuity of supervision.
Noticeably, the SSC stated clearly that shares of transferred companies, which are currently in the set of the VN-Index indicators of the HoSE will be removed from the set of HoSE indicators during the temporary transfer to the HNX. At present, SSC will temporarily not consider transferring the shares of companies currently in the VN30-Index.
The SSC also requested the HNX, the HoSE, and the VSD to urgently handle the issue so that enterprises can transfer the transactions of their shares similarly to the listing transfer cases that have been carried out so far. This mechanism will be applied from March 3 this year.
By Nhung Nguyen – Translated by Thuy Doan
Dien Bien (VNA) – The Red Spring Festival, a voluntary blood donation event, is taking place in the northern mountainous province of Dien Bien on March 5, with more than 300 people coming to register.
This activity aims to encourage people in good health from all social strata to donate blood, helping to address the blood shortage in medical treatment after the Lunar New Year holiday, especially after a hiatus in donation activities due to the COVID-19 resurgence.
Disease prevention measures were carried out to ensure safety for participants, organisers said.
The event is expected to collect more than 210 blood units.
According to the Dien Bien steering committee for voluntary blood donation , this movement has been developing extensively and intensively in the province over the past years, with an increasing number of donors. Donation are now not limited to youngsters or State employees but have been expanded to people from all social strata.
Apart from the Red Spring Festival, other annual events to encourage blood donation have also been maintained, it noted, adding that clubs of blood donors have actively worked to serve emergency needs at the province’s general hospital.
The National Steering Committee for Voluntary Blood Donation has set a goal to collect over 1.5 million blood units in 2021, with 99 percent of which donated by volunteers. The rate of blood donors in the population is hoped to reach 1.6 percent this year.
Director of the committee’s standing office Le Gia Tien said at a recent conference that last year, thanks to many initiatives and great efforts to overcome difficulties caused by COVID-19, the committee received approximately 1.4 million units of blood, helping millions of patients.
The majority of blood units were donated by volunteers, equivalent to nearly 1.5 percent of the population. Half of the givers donated their blood more than once./.
Residents and tourists alike have shared their disappointment over the removal of large portions of the Franciscaines Misionnaires de Marie – an abandoned monastery in the Central Highlands city of Da Lat – during the site’s renovation.
Spanning more than seven hectares, the chapel and residential quarters of Franciscaines Misionnaires de Marie sit between Tran Quang Dieu and Hung Vuong Streets in Da Lat, which is the capital of Lam Dong Province.
For years, the iconic chapel has been an inspiration for Vietnamese artists and photographers, being reimagined in countless works of art.
|The mission is located in an area surrounded by pine trees near the center of Da Lat. Photo: Duc Tho / Tuoi Tre|
A ruined complex
According to writer Nguyen Vinh Nguyen, the Benedictine complex was designed and built by French architects Alexandre Leonard and Paul Veysseyre in the late 30s and early 40s, marking the onset of Benedictine missionaries from the West making their way to Vietnam.
In 1954, these missionaries left the complex in the hands of Franciscans nuns before moving to Hue in the central region to set up the Thien An Monastery.
In the following years, the nuns enlisted Vietnamese architect Pham Khanh Chu to design additional classrooms behind the existing complex.
According to Tran Ngoc Trac, former head of Lam Dong Province Arts and Literature Association, the mission was known as Viet Nu Commercial School in 1969.
In 1979, the seven-hectare complex was handed over to the government.
|Machines are brought to the mission to remove severely destroyed areas. Photo: Duc Tho / Tuoi Tre|
Over the following decades, the school’s two classroom blocks and residential building served as the province’s supplementary school, then as the Lam Vien Hotel, and eventually Tran Phu High School.
In the 1980s, another building was built between the two blocks.
The chapel and monastery were next used as a warehouse, sports hall, and residential structure.
It was eventually abandoned for several years before becoming a campus of the Ho Chi Minh City University of Architecture.
At one point, nearly 20 families illegally occupied the chapel but were eventually forced out by local authorities.
|Inside the main chapel. Photo: Duc Tho / Tuoi Tre|
Pulling out all the stops
The Ho Chi Minh City University of Architecture, which currently manages the complex, said it has plans to restore the site.
“We are doing our best to preserve the monastery’s artistic value,” said the school’s representative.
“We expect it to be a landmark of the university’s Da Lat campus in which potential architects from the Central Highlands and neighbouring areas are trained.”
Plans on the renovation include a new amphitheater being built in the complex and the restoration of dilapidated structures.
The chapel will be transformed into a library and meeting hall which will host architecture and art workshops, while the residential structures will be used as boarding houses for lecturers.
|The residential building’s roof is removed for restoration. Photo: Duc Tho / Tuoi Tre|
“We decided to restore the existing constructions of the chapel and residential structure though they are not listed in the government’s compulsory reservation scheme,” the university told Tuoi Tre (Youth) newspaper.
“We see the complex as a meaningful and valuable heritage site.
“Restoring costs much more than rebuilding but we must protect this significant landmark.”
|The monastery’s façade has been reimagined in many pieces of art. Photo: Duc Tho / Tuoi Tre|
The right decision
Although the monastery is not classified as a relic or included in the list of reserved buildings by the government, it is highly appreciated by architects for its architectural value, according to architect Le Tu, head of Lam Dong Province Association of Architects.
On a purely legal basis, it is permissible to demolish the complex built atop the land, yet the Ho Chi Minh City University of Architecture chose a much more challenging and noteworthy solution.
It is too early to comment on the project’s impact, yet it does open the door for discussions on how Da Lat’s old villas should be managed and used to preserve the old town’s atmosphere.
As Tu sees it, if all precious villas are lost or investors wait for them to be severely ruined as an excuse to tear them down, Da Lat’s heritage will slip away.
Restoring old villas is difficult.
Therefore, besides goodwill, investors must have plans in place to prevent unwanted incidents and ensure safety.