A Vincom Centre Shopping Mall opened in Ho Chi Minh City on April 30 after 22 months of construction. The 26-storey building covering an area of 7,371sq.m is considered Vietnam’s largest trade centre, designed in a modern style. It displays many world famous trade names. Long-term leases have been signed for over 90 percent of [...]
The Prime Minister has approved a plan to develop Vietnam’s island economy up through 2020 with an estimated capitalization of more than VND162 thousand billion. The plan aims to develop the infrastructure of islands quickly and efficiently, and build a solid line of defence to protect national sovereignty. The focus will be on building infrastructure [...]
Chunghwa Telecom (CHT) on April 27 announced the establishment of a wholly owned subsidiary in Vietnam via an investment of NT$160 million ($5.1 million). Operations are scheduled to kick off in the third quarter of 2010. CHT set up offices in Ho Chi Minh and Hanoi in 2006, as well as a joint venture with [...]
HCM City High-tech Park (SHTP) officially began the second phase construction project on April 28, 2010 with total investment capital of 5.8 trillion dong. The construction works will be carried out on a total area of 613 hectares, including infrastructure and other supporting facilities in order to attract investors. In the first phase, SHTP has [...]
After the trading session April 29, Vietnam’s stock market continued another brisk session with big trading volume on both bourses Hochiminh Stock Exchange (STC) and Hanoi Stock Exchange (HNX). After the fist phase, the VN Index bounced 2.24 points or 0.42 percent to 541.44 pts with the total trading volume of over 5.4 million shares [...]
Dien Quang Lamp Joint Stock Co (coded DQC) announced having 3.56 billion dong of 2009 undistributed after tax profit. The company’s management board lately sought approval from shareholders about transferring 2009 investment development fund of 40 billion dong to into undistributed profit. Therefore, DQC planned to pay 2009 dividend in cash at 10 percent. The [...]
Asian banks have “small or negligible” liabilities in debt-stricken European countries, according to Citigroup Inc analysts led by Simon Ho. “Whilst detailed figures/disclosures are not available in most markets, we believe direct exposures to Portugal, Ireland, Italy, Greece and Spain are small or negligible for Asian banks,” Ho wrote in a report dated April 28. [...]
Asia’s economic recovery that’s outpacing the rest of the world is attracting capital inflows that may cause the region to overheat and lead to the formation of asset bubbles, the International Monetary Fund said. Expectations of Asian exchange-rate appreciation may be boosting carry trade flows, where investors borrow cheaply in one currency and use the [...]
Asian currencies and metals gained and the cost to insure against bond losses declined as the Federal Reserve pledged to keep US interest rates low. The euro trimmed yesterday’s gains as concern Europe’s deficit crisis is widening damped demand for the region’s assets. South Korea’s won rose 0.3 percent to 1,115.30 per dollar and the [...]
Three of the largest accounting firms take a loss of 96 billion dong. The news has shocked auditors and people. Questions have been raised about the reasons behind the big loss and about the auditing quality. The auditing industry can be divided into three segments. The main clients of international accounting firms are multi-national groups [...]
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