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
Viet Nam News When New Yorker Neal Bermas was planning a trip around Asia in 1999, he chose HCM City as one destination among several. He did not expect that his encounters with homeless and street children here would become the first chapter in the story of his attachment to Việt Nam. With his years of experience in the hotel and restaurant business, he founded a non-governmental organisation (NGO) called STREETS international to provide vocational training to at-risk children in Hội An. He spoke with An Vũ on the establishment of STREETS and its future Inner Sanctum: You may have heard of KOTO foundation, a hospitality training centre in Hà Nội that gives disadvantaged young people the opportunity to learn and thrive in their lives. How is your centre different from KOTO? We are in Hội An and KOTO is based in Hà Nội, but we drew inspiration from Jimmy Phạm’s early work when he first started … [Read more...] about New Yorker founded NGO from his love with Việt Nam
Viet Nam News Football MILAN — Inter Milan snatched the final Champions League berth with a dramatic come-from-behind 3-2 win over direct European rivals Lazio on the final day of the season at the Stadio Olimpico on Sunday. Inter had to win in order to take third place from Lazio who had a superior head-to-head record and needed just to draw. Late goals from captain Mauro Icardi and Matias Vecino ensured Inter return to Europe for the first time since the 2011-2012 season, along with Juventus, Napoli and Roma. Lazio had led 2-1 with a quarter of an hour to go in Rome after Ivan Perisic turned the ball into his own net and Brazilian Anderson got a second four minutes before the break. But Danilo D’Ambrosio got one back after 29 minutes with Icardi slotting in a penalty after 78 minutes following a Stefan De Vrij foul to join Lazio’s Ciro Immobile as the top Serie A scorer this season with 29 goals. Lazio captain Senad Lulic was sent off late for a second yellow … [Read more...] about Inter Milan snatch Champions League spot from Lazio
The opening of the economy more than 30 years ago has made Vietnam a prospering nation, Photo: Le Toan In mid-April, Vietnamese veteran economists gathered in Hanoi to discuss the country’s economic situation, swapping stories from various economic sectors, especially the private sector. Over the past three decades since Doi Moi was launched in 1986, the private sector has had open access to the economy, thanks to the Party’s resolutions, especially the most recent Resolution No.10-NQ/TW on developing the private economic sector into an important impetus for the socialist-oriented market-based economy. However, the private economic sector is now finding it difficult to grow further. “After numerous efforts to reform mechanisms and policies, the private sector’s contribution to the economy remains limited, currently accounting for only 9 per cent of the GDP, up less than 1 per cent over the past 10 years. Meanwhile, the state sector occupies 32 per cent of the … [Read more...] about From Doi Moi reforms to Vietnamese billionaires
Super start: Aloo Tikki Chaat was first on the menu. VNS Photo Việt Thanh Viet Nam News by Paul Kennedy There’s something incredibly British about Indian food. It is, after all, the United Kingdom’s traditional dish. At the last count, there were more than 10,000 Indian restaurants stretching the length and breadth of Britain bringing in hundreds of millions of dollars to the country’s economy. An Indian meal is as much a rite of passage for a young Brit as owning their first car, or tasting their first alcoholic drink. A night out and curry go together like poppadoms and chutney. You start off slow, maybe trying a Korma, but before too long the mild meals are nothing but a distant memory as you become more accustomed to spice. It’s tikkas and jalfrezis from now on, and before you know it, vindaloo. As a result of its ubiquity in the UK, Brits fancy themselves Indian food experts. In reality, our barometers for authenticity were honed not in … [Read more...] about Authentic Indian far from home in Hà Nội