VietNamNet Bridge - The most powerful investment fund in the country continues to pour money into Vietnam's leading companies despite capital withdrawal from emerging and frontier markets. Foreign investors are still grabbing every opportunity to buy shares in Vietnam. The most powerful investment fund in the country continues to pour money into Vietnam's leading companies despite capital withdrawal from emerging and frontier markets. Gelex is known as the leading enterprise in electrical wire and cable manufacturing in Vietnam, but it has been expanding into other business fields, including infrastructure, logistics, real estate and investment. Industry is its core business field, bringing 70 percent of revenue. RELATED NEWS Foreign investment funds making huge profits in Vietnam Foreign investment funds target market for mothers and kids M. Ha … [Read more...] about Big investment fund keeps pouring money into Vietnamese companies
Vietnam investment fund
Investment funds for startups in Vietnam still modest
Investment funds for startups in Vietnam still modest By Van Nam Nguyen Viet Dung, director of the HCMC Department of Science and Technology, speaks at the ninth meeting of the HCMC People’s Council on July 12 – PHOTO: VAN NAM HCMC - Slow reforms of procedures in Vietnam have forced enterprises to move to other countries to start businesses, and investments in startups remain modest compared with those in regional countries. At a Q&A session of the ninth meeting of the HCMC People’s Council on July 12, the director of the HCMC Department of Science and Technology, Nguyen Viet Dung, noted that many startups in the country had moved to Singapore as it facilitated quick business registration procedures. In Vietnam, it takes months to complete the procedures, he added, stressing that certain investments needed quick procedures as investors may make an investment one month and sell it the following month. According to Dung, Vietnam attracted US$202 million … [Read more...] about Investment funds for startups in Vietnam still modest
Singaporean investment fund cuts losses in Vinasun
GIC Private Limited made a full exit from Vinasun at a price less than half of what it paid to buy in four years ago. Singaporean investment fund divesting from Vinasun GIC Private Limited (formerly known as Government of Singapore Investment Corporation), a sovereign wealth fund established by the Singaporean government, has just announced to have fully divested Vietnam Sun Corporation (Vinasun, code: VNS), according to the Ho Chi Minh City Stock Exchange (HSX). Accordingly, 5.4 million VNS shares (equivalent to an 8 per cent stake) have been transacted on HSX with the total value of VND80 billion ($3.5 million) on May 25. GIC poured around VND200 billion ($8.8 million) into Vinasun in August 2014, equalling VND45,000 per share. Thus, GIC divested at roughly 40 per cent of the purchasing price, losing approximately VND120 billion ($5.3 million). This move has made as the business results of the taxi firm have turned into the red and its stock fell sharply. Although … [Read more...] about Singaporean investment fund cuts losses in Vinasun
Singaporean investment fund divests from Vinasun
The development of Uber and Grab has put pressure on traditional taxi forms in Viet Nam. — Photo enternews.vn After losing more than VND125 billion (US$5.5 million) in Vinasun, Singaporean investment fund Government of Singapore (GIC) announced a full divestment from Vietnam Sun Corporation (VNS). Accordingly, the fund no longer holds any shares of Vinasun, reported Tien Phong (Vanguard) newspaper. Specifically, GIC sold 5.4 million VNS shares, representing 7.96 per cent of Vinasun’s capital on May 25 and currently owns no shares. The investment fund of the Government of Singapore invested in Vinasun in August, 2014, when car-hailing applications had not been popular in Viet Nam. The value for the acquisition at that time was estimated at VND200 billion. The development of Uber and Grab has since put pressure on traditional Vietnamese taxi companies, including Vinasun. Although one of the brands with the highest number of cars in HCM City, the company’s business … [Read more...] about Singaporean investment fund divests from Vinasun
Dung Quat refinery offer shares to 15 investment funds
Dung Quat refinery offer shares to 15 investment funds The Saigon Times Daily HCMC - Binh Son Refining and Petrochemical Company (BSR), the operator of Dung Quat Oil Refinery, has written to 15 domestic and foreign investment funds offering shares, Dan Tri news website reports. BSR general director Tran Ngoc Nguyen said his company would launch their shares onto the market late this year. Dung Quat is the first oil refinery in Vietnam invested and owned by the State, with a processing capacity of 6.5 million tons of crude oil a year, meeting only 30% of domestic demand for refined products and petrochemicals. In 2015-2016, the total profit of BSR reached nearly US$500 million. The return on equity was 17%, and the State budget collection was US$2 billion in the form of taxes, surcharges and distributions of after-tax profits. BSR is currently the investor of the Dung Quat Oil Refinery upgrade and expansion project with an aim of raising the annual capacity of the facility from 6.5 … [Read more...] about Dung Quat refinery offer shares to 15 investment funds