Saigon-Hanoi Securities (SHS) was awarded as one of "The Most Notable M&A Advisory Firms of 2018-2019" by Vietnam M&A Forum 2019. SHS received the award at Vietnam M&A Forum 2019 Most notably, SHS has provided consultancy and guarantee for Asian Commercial Joint Stock Bank (ACB) to issue VND2.2 trillion ($95.65 million) worth of non-convertible bonds at the end of 2018. In the beginning of the third quarter of 2019, SHS continues to provide consultancy and guarantee for LienVietPostBank to issue over VND3.1 trillion ($134.78 million) of similar products. In addition, SHS also helps SHB Finance to conduct a bond issuance to raise VND1.5 trillion ($65.22 million), of which VND900 billion ($39.13 million) was issued in the second quarter of 2019 and VND600 billion ($26.09 million) will be issued in the third quarter of 2019. SHS also joined VNPT’s sale of its finance subsidiary Post and Telecommunication Finance Co., Ltd. (PTF) to SeABank for VND1.046 … [Read more...] about Saigon Hanoi Securities (SHS) honoured at Vietnam M&A Forum 2019
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In HCMC, the average asking rent for grade A office space has edged up to $52.2 per square meter per month from below $50 in the fourth quarter of last year, according to a report by real estate firm Colliers International Vietnam. In Hanoi, rents were up to $35.9 from below $35. "Rents are expected to continue to rise thanks to strong demand for office space and Hanoi’s improving economy," the report said. Both cities have high occupancy rates. In HCMC the first quarter rate was 95 percent, while in Hanoi it was 96 percent. Despite their high rents, grade A offices are still preferred by large international companies in HCMC due to their ease of access, premium image and facilities. In Hanoi, the improving infrastructure would continue to attract big-name office tenants to the market such as banking, finance and insurance companies. The west of Hanoi is the up-and-coming office destination in the city thanks to the availability of land, well-established infrastructure and … [Read more...] about Saigon, Hanoi premium office rents rise on low supply
Several Vietnamese banks were gearing up expansions to foreign markets to tap increasing overseas investment by Vietnamese businesses. Most recently, the Joint Stock Commercial Bank for Foreign Trade of Viet Nam (Vietcombank) opened its wholly-owned Vietcombank Laos in Vientiane early this week. Six Vietnamese banks have established a presence in Laos, including Military Bank (MB), Vietcombank, Saigon-Hanoi Bank (SHB), Bank for Investment and Development of Viet Nam (BIDV), Vietnam Bank for Industry and Trade (Vietinbank) and Saigon Thuong Tin Bank (Sacombank). According to Pham Manh Thang, deputy director of Vietcombank, Vietcombank Laos will provide services for Vietnamese businesses looking to invest in Laos, those already operating in the country, as well as others. Vietcombank also has offices and branches in Paris (France), Moscow (Russia) and Singapore, as well as the Vietnam Finance Company Limited (Vinafico) in Hong Kong. Vietcombank plans to open a branch in Australia and … [Read more...] about Vietnamese banks have eye on foreign markets
Struggling to attract domestic funds, banks are rushing to seek foreign capital ahead of the central bank’s tightened policy on medium- and long-term lending early next year According to the State Bank of Viet Nam (SBV) regulations, short-term funds for medium- and long-term loans at banks will be reduced from the current 45 per cent to 40 per cent from January 1, 2019. Banks will also need more capital to meet a capital adequacy ratio (CAR) of 8 per cent in 2020 as per the SBV’s Basel II norms. To prepare for the regulations, besides increasing interest rates for long-term deposits to attract depositors, banks also have to find capital from foreign partners. Saigon Hanoi Commercial Joint Stock Bank (SHB) recently took a US$20 million loan for a term of five years from Russia’s International Investment Bank and a 20 million euro loan under a credit agreement framework with Russian International Bank for Economic Cooperation. According to SHB, the loans will help the … [Read more...] about Banks look abroad in rush for long-term capital
Vietcombank's recent attemp to divest from Eximbank saw poor results On October 17, the Hanoi Stock Exchange (HNX) announced cancelling the auction of a batch of Eximbank (EIB) stocks owned by Vietcombank because no investor registered. This was Vietcombank’s second failure as on October 15, the bank also saw flat results in the auction of Military Bank (MBB) stock. The bank’s capital divestment from EIB and MBB were to match the State Bank’s Circular 36/201/TT-NHNN that regulates minimum safety limits and ratios in banking operations because Vietcombank’s current ownership in these two banks are above the regulated 5 per cent. Particularly, at the MBB stock auction, Vietcombank offered to sell 53.4 million shares at the starting price of VND19,641 ($0.85) apiece. After the deadline of placing deposits to purchase stocks, only 10 investors (five corporate and five individual) registered to buy a total of 5.9 million shares, equal to 11 per cent of the total … [Read more...] about Bank stock auctions less charming than before?