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FPT Online to pay 200 percent dividend

March 25, 2021 by e.vnexpress.net

Staff at FPT Onlines Hanoi headquarters. Photo by VnExpress.

Staff at FPT Online’s Hanoi headquarters. Photo by VnExpress.

The cash dividend will be paid in April this year.

The company’s revenue last year dropped 1.6 percent to VND599 billion ($26.04 million), and pre-tax profit was down 20 percent to VND255.5 billion.

It targets revenues of VND700 billion and pre-tax profits of VND310 billion this year. The company expects to pay cash dividends higher than 50 percent of FOC share’s nominal value in 2021.

Despite the impacts of the Covid-19 pandemic, the company achieved revenue growth in several sectors. Revenue from events grew over 38 percent year-on-year; from advertisements, up 3.6 percent; from ticket sales for the annual charity run VnExpress Marathon, up three times.

In 2020, FPT Online made great efforts in digital transformation to increase productivity and maximize revenue.

While its business plan is expected to be affected by the pandemic this year, the company is determined to remain the leading online advertiser in the country and continue to apply technological advances in the publishing industry.

The company has also said it will continue to conduct research and develop products and services on the online-platform, such as Vlight, its licensed image provider, and its podcast, or digital audio files, and introduce them to its advertising partners in order to enhance the connection between enterprises and their customers.

Since its former chairman, Thang Duc Thang, resigned from the position to retire, FPT Online’s board of directors now has three members: Chu Thi Thanh Ha, Nguyen The Phuong and Nguyen Thi Hai.

Ending the trading session on Wednesday afternoon, FOC shares on the stock market stood at VND150,000 per share, rising 13.7 percent compared to its value on March 19, when the dividend payment plan was announced.

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Eximbank seeks to pay dividends after 7 years

April 9, 2021 by e.vnexpress.net

An Eximbank branch in Ho Chi Minh City. Photo by VnExpress/Thanh Di.

An Eximbank branch in Ho Chi Minh City. Photo by VnExpress/Thanh Di.

The bank sold its bad debts to the state-owned Vietnam Asset Management Company (VAMC) in 2015 against bonds on the condition it is not allowed to pay dividends until the bonds are fully redeemed.

According to documents it has circulated among shareholders, it redeemed the last of the bonds on March 30.

The last time it paid dividends was for 2013.

In 2020, it was the only lender in Vietnam to see outstanding loans fall (by 10 percent), but pre-tax profits rose by over 20 percent to VND1.34 trillion as it managed to cut operating costs.

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Painter Duc Du: “telling stories” to pay respect to comrades-in-arms

April 27, 2020 by en.nhandan.org.vn

Q: Many painters of the same generation as you have created and exhibited many different types of paintings. Why do you still display sketch paintings from the Vietnamese battlefield?

A: Someone said I was crazy as I only pursued the “paintings of memories”. I just laughed away. Twenty-one exhibitions is not enough for me and I will continue. I consider it to be an unfulfilled mission. There are still over one million people alive who fought and served on the trail and I have to continue to “tell” stories to pay my respect to them. My exhibitions attracted a large number of my comrades-in-arms, friends, youth volunteers, fire workers and soldiers. Many of them cried as they saw the “old sights and people”. They are valuable archives that I created following ten years of the mission on the battlefield. I want the young generation to know more about this trail as well as understand their ancestors’ sacrifices so that they can appreciate the value of peace and do positive things.

Q: How does Truong Son Trail stand in your memories in addition to what has been shown in the paintings that have been introduced to the public?

A: The atmosphere of opening, repairing and protecting the route as well as shipping goods to the southern battlefield via the Truong Son Trail was extremely vibrant and urgent although life and death were only narrowly separated during that time. Painters like me revelled in capturing the scenes of the soldiers’ trucks still rushing forward to the south despite the fallen and destroyed key points, rocks and trees. Meanwhile, the base stations were always fiercely attacked by the enemy. The actual image was really woeful and majestic. Once I opened an exhibition on the battlefield, my paintings were pinned to tree trunks. Our soldiers watched and wondered why the paintings featured the right shapes of a section of A letter and Phu La Nhich pass but the scenes were not the same as a few weeks ago. I had to explain that the enemy’s bombs had made trees and soil change colour, so only the shapes of roads and mountains remained. I also met and drew a 60-year-old man, who was blinded in both eyes due to the enemy’s tortures but tried to carry a 60kg basket of bullets. His grandson held one end of a stick to take the old man to follow the fire workers to hand over the bullets to the soldiers.

Q: Did artists like you face many difficulties on the harsh and dangerous road full of bombs?

A: In that situation, we could not make paintings with canvases. Only sketches with iron pens, pencils and watercolours on paper were suitable for quick propaganda. To be more precise, sketches attempted to vividly reflect the battles, roads and key points so that they helped me timely hold small exhibitions right on the battlefield or at the rear. Later, I repainted large paintings with modern materials based on the sketches.

There were also three other painters who were very passionate about this topic. We tried to work beyond our ability. We drew in the bomb craters and painted while the sounds of guns and bombs beside us. From the previous generation, Co Tan, Lang Chau and Le Lam were talented painters with many exhibitions held in the north since 1965. Their sketches were published in volumes and released widely both in the country and abroad to let the world know more about the war for national liberation in Vietnam.

Our paintings of the battlefield and the legendary Truong Son Trail truly reflected the historical reality as well as recreating the resilience and heroic spirit of Vietnamese army and people during the sacred resistance war.

An interchange on Truong Son Trail (Oil painting, 2014)

For me, they are my memories

Q: With the specific characteristics of the mission at that time, not any painter who wanted to paint Truong Son Trail would be assigned the task. How did you stick to the trail?

A: I loved painting when I was very young. In 1965, when the US sent troops to the south of Vietnam, young people like me energetically joined in the army. I became a soldier of Infantry Regiment No.5 that was assigned the task of opening the Truong Son Trail in western Thua Thien – Hue. Experiencing many difficulties and hardships, I was deeply moved and wanted to do something to encourage my comrades-in-arms. I drew the first paintings on military civil engineering soldiers who dug a secret road on the Truong Son Trail. During the time for rest or at night, I tied the paintings to the trees so that they could watch. I painted with the wish that my paintings would help younger generations see the fierceness of Vietnamese army and people’s fight against US imperialism.

Witnessing my engrossment on the road and capturing the things I observed on my paintings, the Political Bureau (under the Command of Division 559) allowed me to specialise in the people and the events during the resistance war in order to serve the goal of communication. At that time, I drew completely instinctively with the spirit of a soldier and deep patriotism. In 1968, I was assigned to paint at the soldier stations, transportation areas and routes. Since then, my steps have been imprinted on many routes on Truong Son Trail under a rain of bombs and storm of bullets. I tried to paint with all my soul.

Q: As I know, you were present at the moment when Vietnamese soldiers entered Independence Palace. Do you still remember the atmosphere of this historic day?

A: On April 30, 1975, I followed the gang of ordnance trucks of the Transportation Division 57 under the Truong Son Command to enter Saigon. The gang stopped in front of the Independence Palace. At this time, I had not seen the national flag hoisted on the roof of the Palace. I immediately asked two other people to stretch a large paper and I drew. When my painting was almost finished, the flag flew. I still keep it now.

Q: Several American veterans wanted to buy your sketches but you did not sell them. Why?

A: I could not sell to them because they are my memories that would not be able to be returned. After my exhibition “Memory of Truong Son” ended in Nam Dinh Province on December 24, I donated two valuable works titled “Tha Me focus during the dry season in 1968” and “The key eyes” to the provincial Museum because many veterans in the locality, including many of my gratious comrades-in-arms, worked on the Truong Son Trail.

Q: In addition to the Truong Son Trail, have you created paintings about other topics?

A: In 1973, I was sent to study at the Vietnam Fine Arts University and then returned to the battlefield a few months later.

After 1975, I worked for the Museum of the General Department of Logistics and spent much time repainting sketches I created in the battlefield while creating paintings of rigs, landscapes and families. I participated in just two exhibitions of landscapes and then realised that I was more suited to topics related to soldiers. Thus, I only displayed the sketches of Truong Son.

Thank you very much for your interview!

The Height 550 was destroyed. (Watercolour painting, 1972).

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Gardener confirms mutant orchid transaction, promises to pay tax

March 26, 2021 by vietnamnet.vn

Bui Huu Thanh, the owner of the mutant orchid garden, said that he has actually sold a Ngoc Son Cuoc mutant orchid for VND250 billion following reports that the transaction was fake.

Gardener confirms mutant orchid transaction, promises to pay tax

Thanh now has one hectare of orchid sapling cultivation area

Thanh told VietNamNet that on March 15, when he sold Ngoc Son Cuoc seedlings at VND250 billion, a rumour spread that it was a trick played by Thanh in order to polish his orchid brand and exaggerate prices.

He said that the transaction had really been made, but the payment was not in cash.

According to Thanh, the buyer was Nguyen Tien Hung, born in 1976, from Hai Phong City. The transaction was carried out in accordance with a contract signed between Thanh and Bui Huu Giang, the brother of Thanh, on behalf of the buyer.

Under the contract, Thanh will have to provide 5,000 Ngoc Son Cuoc mutant orchid seedlings. The cultivation process will be supervised by both the seller and buyer to examine the results and quality of Ngoc Son Cuoc seedlings.

“All the seedlings must be delivered to the buyer within one year,” Thanh said.

According to the orchid garden owner, Ngoc Son Cuoc orchid is expensive because he had to seek the orchid seeds and buy them from people living in mountainous areas.

During the cultivation, he found the flowers were very beautiful with a special fragrance. Many people, attracted by the orchid, sought to buy the Ngoc Son Cuoc from him, but he refused.

“The buyer in the VND250 billion deal will buy in a large quantity. It is not true that one seedling is worth VND250 billion,” Thanh said.

Asked if he heard about the news that the taxation body is verifying the information about the transaction, Thanh said he is ready to pay tax if the Quang Ninh Taxation Agency asks him to do so.

Meanwhile, the police have reported an orchid transaction worth VND250 billion to the Dong Trieu Town Party Committee Secretary Pham Van Thanh.

The report showed that no sign of violations of the law had been found in this case.

Thanh on March 23 confirmed with VietNamNet that he has received the report. He said this was not a transaction of selling one Ngoc Son Cuoc orchid plant at VND250 billion. Under the contract, the seller has to deliver to the buyer 5,000 seedlings within one year.

However, the Dong Trieu Town People’s Committee has told the police to keep watch over the case and the taxation agency to consider collecting tax.

Thanh now has one hectare of orchid sapling cultivation area.

Pham Cong

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Parliamentarians pay tribute to President Ho Chi Minh

March 24, 2021 by en.nhandan.org.vn

The delegation’s wreath bore the words “Everlasting gratitude to the great President Ho Chi Minh”.

PM Nguyen Xuan Phuc, NA leader Nguyen Thi Kim Ngan and other Party, State and NA leaders respectfully express their gratitude to President Ho Chi Minh.

The NA deputies paying tribute to the late, great leader.

The NA house where the 14th NA’s 11th sitting is taking place.

The military ceremonial band on Ba Dinh Square

After paying tribute to President Ho Chi Minh, the delegates returned to the NA House for the preparatory session for the 11th session of the 14th NA.

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Many banks to pay dividends in shares

March 31, 2021 by bizhub.vn

Customers at a branch of Vietnam International Bank (VIB) in Ha Noi. VIB plans to distribute bonus shares to increase capital from VND11.09 trillion currently to over VND15.53 trillion. — VNA/VNS Photo

Many banks have announced their dividend payout plan in shares to raise capital and improve competitiveness amid the prolonged COVID-19 pandemic.

The shareholders of Vietnam International Bank (VIB) have approved the proposal to issue 40 bonus shares at the rate of 40 per cent at its 2021 Annual General Meeting late last month.

According to VIB, by the end of 2020, the bank had more than VND4.8 trillion (US$207.8 million) of remaining profit after the provision for funds. It plans to distribute bonus shares to increase capital from VND11.09 trillion currently to over VND15.53 trillion.

The distribution is expected to be completed before September 30 this year.

“The bank is in a good growth period so it needs capital to invest in technology, networks, credit extension, meeting capital adequacy ratios as prescribed,” said a representative of VIB.

Viet Nam Maritime Commercial Joint Stock Bank (MSB) recently approved a plan to pay dividend in shares at a rate of 30 per cent. It is expected that after completing the plan, MSB’s chartered capital will reach VND15.2 trillion.

A representative of the bank said: “In addition to supplementing the bank’s medium and long-term capital, paying in shares can ensure financial safety ratios following international standards such as Basel II.”

Asia Commercial Bank (ACB) plans to issue more than 540 million shares to pay 2020 dividends at the rate of 25 per cent. Accordingly, the bank’s charter capital is expected to increase by more than VND5.4 trillion.

Sai Gon-Ha Noi Bank (SHB) will pay dividends at the rate of 20.5 per cent by shares, of which 10 per cent for 2019 and 10.5 per cent for 2020.

Orient Commercial Bank (OCB) plans to pay dividend at a rate of 25 per cent.

Nam A Bank plans to increase its charter capital to VND7 trillion. This includes a plan to issue 57 million shares to pay dividends at a rate of 12.5 per cent and offer 143 million shares in private placement.

Bank for Investment and Development of Viet Nam (BIDV)’s shareholders have approved a plan to increase its charter capital by VND8.3 trillion to VND48.52 trillion, up 20.6 per cent, in the form of dividend payment in shares and additional issuance.

Under the plan, BIDV plans to issue 207.3 million shares to pay dividends for 2019 at the rate of 5.2 per cent, issuing 281.5 million shares to pay dividends for 2020 at a ratio of 7 per cent.

Some financial and banking experts said banks’ plans to increase capital in 2021 was necessary to ensure credit supply. Currently, the income of many banks still came from credit. At 12-13 per cent, the equity of banks will increase at least by 7-8 per cent.

According to the policy of the State Bank of Vietnam (SBV), this year, banks will only be allowed to pay dividends in shares, instead of cash as before.

Banking is a conditional business sector so credit institutions must comply with the regulations of the State Bank, including the policy of dividend payout.

Along with other cost reduction solutions, the non-cash dividend payment will help credit institutions have more resources to reduce lending rates, supporting millions of customers affected by the COVID-19 pandemic.

However, in order to have a source of money set aside for bad debt handling, restructuring and especially to support businesses affected by the pandemic, some banks decided not to pay dividends in 2020 such as VPBank, Techcombank, Sacombank, Eximbank, SCB and ABBank. VNS

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