While GIC Private Limited cut its losses in Vinasun last week, Ho Chi Minh City Securities Corporation (HSC) spends around VND100 billion ($4.4 million) becoming the third largest shareholder of Vinasun. 2018 is the fourth consecutive year that Vinasun approves lower business targets HSC has just announced buying 7.2 million shares of Vietnam Sun Corporation (Vinasun, code: VNS), equalling 10.61 per cent. It held only 8 VNS shares before. The transaction took place on May 25, when GIC Private Limited sold a total of 5.4 million VNS shares on the Ho Chi Minh City Stock Exchange (HSX). This Singaporean investment fund fully divested Vinasun at only 40 per cent of the original purchasing price, losing approximately VND120 billion ($5.3 million) in four years. At the average price of VND14,000 apiece, HSC is estimated to spend over VND100 billion ($4.4 million) becoming a large shareholder of Vinasun. After this “low-cost” transaction, HSC became the third largest … [Read more...] about What does HSC expect from loss making Vinasun?
Where does snot come from
Success Comes from Passion, Effort and Responsible Living Although very busy with her business at the start of the year, Ms Le Nu Thuy Duong, CEO of Long Thanh Golf Investment and Trading Joint Stock Company, still gives time for Vietnam Business Forum to arrange a quick interview. In addition to running her company, she was also appointed the Honorary Consul of Iceland in Ho Chi Minh City by the Government of the Republic of Iceland, and approved by the Government of Vietnam. Van Luong reports. Leading a busy life with a lot of important missions, do you find it difficult to arrange time to do all the jobs well? In every position and every role I undertake, I always want to play a part in the country’s economic development and I always dedicate myself to the common cause of the company and family without fear of facing difficulties and challenges. The most important thing is to have a plan, arrange everything in order and arrange the reasonable time for business job and … [Read more...] about Success Comes from Passion, Effort and Responsible Living
VietNamNet Bridge - It is not unusual for Vietnamese billionaires to be assigned informal nicknames by the public, media or colleagues. While most accept the monikers bestowed on them, others are less comfortable with what they are called. Being the second son in the family, Doan Nguyen Duc, the owner of Hoang Anh Gia Lai Group, was called by his relatives "Ba Duc", meaning "Duc, the second child", according to the custom of the central region's people. However, he is better known in the business community as "Bau Duc", meaning "football club owner Duc". That's because he owns the Hoang Anh Gia Lai Football Club, a big name in the Vietnam Premier League. Though he is the president of Hoang Anh Gia Lai Group, which is involved in many different fields, from real estate and rubber growing to hydropower and agriculture, no "business nickname" has been granted to Duc. Le Thanh Than, the owner of the Lai Chau-based Construction Private Enterprise, is a major tycoon who has developed … [Read more...] about Nicknames of Vietnam’s biggest bigwigs: Where do they come from?
Talking Law (17-10-2007) WTO dispute settlement: where does Viet Nam stand? by Paolo R Vergano, FRATINI VERGANO - European Lawyers, Brussels, Belgium The WTO dispute settlement mechanism, dating back to the establishment of the World Trade Organisation in 1995, is a cornerstone of the WTO system. It provides an instrument through which WTO members can police each other and ensure compliance with agreements and commitments. The WTO dispute settlement system does not confer immediate and direct rights on private operators and traders, but it may ultimately provide them, through their governments' actions and representation, with a powerful tool to address international trade disputes, regulatory distortions, discriminatory practices, non-tariff barriers and other impediments that have immediate negative effects. Despite not having a formal and direct role in WTO dispute settlement proceedings, private businesses may play an important role in assisting their governments, providing … [Read more...] about WTO dispute settlement: where does Viet Nam stand?
LISBON (AFP) - A penitent Pope Benedict XVI referred to the paedophile priest scandal rocking the Catholic Church as he began a four-day trip to Portugal Tuesday, saying the Church's "greatest persecution" came from its own "sin". "Today the greatest persecution of the Church does not come from outside, but from the sin inside the Church itself," the pope told journalists aboard his plane before his arrival in Lisbon. The 83-year-old pontiff, who met alleged victims of priestly sex abuse during a visit to Malta last month, said the Church's forgiveness could not replace the need for justice. He said the Church had a "profound need" to "learn forgiveness and also the necessity of justice," underlining that "forgiveness does not replace justice." The comments were the strongest yet on the issue from Benedict, whose five-year-old papacy has been rocked by allegations that the Vatican for years protected paedophile priests from prosecution in several European countries and in the United … [Read more...] about Pope says Church ‘persecution’ comes from within