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Ho Chi Minh Stock Exchange welcomes 70th member 2008-03-05 22:47:16 The Ho Chi Minh City StockExchange
on March 5 granted the Wall Street Securities Joint Stock Company a membership certificate, making it the 70 th brokerage firm operating at the floor.
The company, with chartered capital of 168 billion VND (10.5 million USD), offers services that include brokerage, depository,...
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Standard Chartered Becomes 2nd Wholly Foreign-Owned Bank in VN 2008-03-05 22:42:57 Standard Chartered
has become the second foreign bank to establish a wholly-owned subsidiary in Viet Nam supplying all banking services in line with the country’s commitments to the World Trade Organization.
HSBC, also based in London like the Standard Chartered
Bank, is the first foreign bank to do this. Vietnamese...
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Read more:Foreign
, Standard
Special bond market activated 2008-03-05 19:48:33 To open the special bond market project gaining the finance ministry's approval, the State Securities Commission (SSC) reported finalising the draft scheme of managing transactions of G-bonds.
Concretising bond repurchase
The draft outlines that transactions of bonds and shares should be separated into two different...
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Read more:Special
Bluewater Bio signs wastewater treatment MoU with Indochina Capital 2008-03-05 19:46:07 Bluewater Bio International said its unit Bluewater Bio Ltd has entered into a memorandum of understanding with Indochina Capital, the Vietnam-based financial services firm, to identify, evaluate and bid on wastewater treatment projects in Vietnam.
The provider of an advanced wastewater treatment solution named...
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Read more:Bluewater
, signs
Tuong An vegetable oil processor reports performance in 2007 2008-03-05 19:44:47 The listed firm on Ho Chi Minh Stock Exchange, Tuong An Vegetable Oil Joint Stock Company reported that last year it gained 2.556 trillion dong in total revenue, 212.039 billion dong in profit from sales and service supply, 125.230 billion dong in profit from businesses and 482 million dong from other profits.
In...
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Read more:processor
Vegetable oil packing producer posts business results 2008-03-05 19:40:13 The listed firm on Ho Chi Minh Stock Exchange, Vegetable
Oil Packing Joint Stock Company (coded VPK) last year earned 164.474 billion dong in total revenue, 31.126 billion dong in combined profit from sales and service supply, 12.080 billion dong in profit from businesses and 126.382 million dong from other...
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Read more:packing
, posts
, results
Song Da Finance Joint Stock Company licensed 2008-03-05 19:35:51 The State Bank of Vietnam governor recently signed a document approving in principle the establishment of Song Da Finance JointStock
Company.
In addition, the company was urged to complete necessary proceedings in compliance with Clause 14 of the scheme on licensing establishment and operation of non-banking credit...
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Read more:licensed
Maritime Bank increases saving rates again 2008-03-05 19:30:52 Maritime Commercial Joint Stock Bank or Maritime recently increased the dong and US dollar deposit rate whereby the dong deposit rate was raised to the ceiling level of 12% per annum for most terms while the US dollar saving rate also was up to 6.04% a year.
If joining the programme "Lucky Spring Gift", customers can...
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Read more:Maritime
Banks raise gold deposit rates 2008-03-05 19:27:35 Southern Bank recently adjusted the gold deposit rate at 0.4-0.5% while Eximbank also raise
d the deposit rate to 0.8% per annum for each term.
Accordingly, the interest rate of one-month gold deposit was increased to 0.6% a year and 60 months at 3-4% pa.
Similarly, HCM City Housing Development Bank (HDBank) also...
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Broker association proposes measures to rescue floundering share market 2008-03-05 19:25:58 Vietnam Association of Securities Business (VASB) yesterday held an urgent meeting with its members and proposed nine measures to support the stock market that now is in the downward trend.
* Stockbrokers must temporarily stop securities self-trading and purchase of good shares.
* When share prices are declining,...
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Read more:association
, Broker
, share market
Artex Securities broker licensed 2008-03-05 19:24:21 The State Securities
Commission (SSC) on March 3 granted business license for the Artex Securities Joint Stock Company (ASC) located at 2A Pham Su Manh Street, Trang Tien ward in Hanoi's Hoan Kiem district with a chartered capital of 135 billion dong.
ASC will have ranges of securities sector like securities...
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Read more:licensed
Gia Phat broker to increase chartered capital to 300b dong 2008-03-05 19:21:51 Gia Phat Securities Joint Stock Company (GPS) will raise its chartered capital
from the current 135 billion dong to 300 billion dong within this quarter, the company's general director Bui Duc Thinh announced.
The firm now has the big shareholders including PG Bank, Coteccons Group, and the strategic partner Bank for...
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March 05, Foreigners Net Buyers Of VND111.7 Billion Of Shares 2008-03-05 07:37:02 Foreign investors were net buyers of VND111.7 billion ($ 6.97 million) of Vietnamese stocks Wednesday, out of a total VND513 billion traded, the Ho Chi Minh Securities Trading Center said.
Volume traded totaled 9.87 million shares, with foreigners accounting for 23.5% of the total, according to the stock market...
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Read more:Buyers
, March
Taiwan Cos' Viet Nam Invest To Exceed US$30 Billion In 3 Years 2008-03-05 07:26:27 Investment by Taiwan
ese companies in Viet Nam is expected to exceed US$30 billion in three years, Taiwan Stock Exchange Corp. said in a statement Wednesday, quoting a Taiwanese industry executive in Viet Nam.
Taiwanese companies have already invested more than US$10 billion in Vietnam, Lee Tien-chi, president of the...
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Read more:Years
HSBC Insurance to become sole strategic partner of Bao Viet Insurance 2008-03-05 07:18:04 Bao Viet Insurance Group on March 4 signed a comprehensive cooperative deal, making HSBC Insurance its sole foreign strategic partner. The signing ceremony was attended by Vietnam’s Prime Minister (PM) Nguyen Tan Dung and Mayor of London Alderman David Lewis.
Under the deal, HSBC Insurance pledged to provide Bao Viet...
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Stock Market, A Game Not for Unadventurous Souls 2008-03-05 04:49:40 Due to the constant decline of the stock market, a large number of investors have begun to sell their stocks in fear of losing more of their capital. There are others who continue to buy shares in the hope that when the stock market revives they will make sizeable profits.
In contrast to expectations, the stock...
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Read more:Market
, Souls
, Stock
, Stock Market
Investors criticise SSC for prolonged falls 2008-03-05 04:38:03 Discouraged about the continued falls of the stock market, which have been picking investors’ pockets, ten investors flocked to the headquarters of the State Securities Commission this morning, demanding that SSC explain how it is managing the market.
At 11 am, March 5, while the extraordinary press conference, where...
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Read more:Investors
SCIC to buy shares to recover stock market 2008-03-05 04:33:55 The State Capital Investment Corporation (SCIC) has decided to buy up stock in an effort to stimulate the demand and rescue the stock market from drowning, the State Securities Commission (SSC) announced at a press conference at 11 am today, March 5.
The list of items and the volume of shares
SCIC will purchase will...
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Read more:recover
Interest rate race shows Achilles’ heel of banks 2008-03-05 04:31:53 The interest rate race begun by commercial banks
ended after the central bank put the cap of 12% per annum on deposit interest rates. However, thanks to the race, the Achilles
’ heel of banks has been exposed.
While many banks were thirsty for capital and trying to seek capital in the interbank market and from the...
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Read more:Interest
Viet Nam stock market fall 4.2 pct despite govt efforts 2008-03-05 00:06:42 The stock market sank more than 4% on Wednesday as more government measures to fight double-digit inflation and prop a free-falling market failed to restore battered investor confidence.
The Ho Chi Minh City Stock Exchange is down 37% this year after local retail investors bailed out following an earlier series of...
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Read more:despite
March 05, Stock market slips through 600 pts 2008-03-05 00:06:27 The Ho Chi Minh City Stock
Exchange (HOSE) today March
5 continued falling on the stock market as the VN Index dipped another 25.43 points or 4.18% to 583.45 pts with the total matching order trade of over 10 million shares worth over 590 billion dong.
Among 153 shares and fund certificates being listed on the...
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Read more:slips
Securities companies propose stopping trading at association meeting 2008-03-04 23:11:39 Four measures to rescue the stock market were discussed yesterday at an urgent meeting
between the Securities
Business Association, representing 100 securities companies and fund management companies, and representatives from the State Securities Commission (SSC).
Nguyen Thanh Ky, Secretary General of the...
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Read more:association
, propose
Foreign ownership caps may be lifted for OTC market 2008-03-04 22:20:14 Foreign investors may be allowed to buy up to a 49-percent stake in enterprises traded on the over-the-counter (OTC) market, even in restricted sectors like banking and finance, once the OTC market comes officially under the control of the Ha Noi Securities Trading Centre (HaSTC) in the coming weeks, according to a...
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Read more:Foreign
, lifted
Quam Capital seeks cooperation 2008-03-04 22:18:31 One of Hong Kong’s leading investment funds, Quam Group’s Quam Capital, is seeking strategic cooperation with Vietnamese securities companies, according to the fund’s director Adrian Bradbury.
Should the fund locate a partner, it pledges to buy an initial 5 percent of the company’s shares.
Quam Group affiliates...
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Gatexco 20 to auction 3,445,300 shares 2008-03-04 19:54:42 The Hanoi Securities Trading Center (HaSTC) announced that 3,445,300 shares
at 10,000 dong par of garment and knitwear machine trader, Company No 20 (Gatexco 20) with the initial price of 10,010 dong per share would be auctioned via the bourse on March 25.
The time for registration and deposit payment is from 8:30 on...
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Petrovietnam's PVFC seeks share listing licence 2008-03-12 13:59:38 Petrovietnam Finance Corporation (PVFC), 10% owned by Morgan Stanley, has sought permission to list shares on the Ho Chi Minh Stock Exchange, the exchange said in a statement on Wednesday.
The Ho Chi Minh Stock Exchange said Hanoi-based PVFC submitted an application to list all its 500 million shares. Saigon...
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Shinpetrol lifts curtain on broad strategy 2008-03-12 08:45:25 The Hanoi Securities Trading Centre (HaSTC) last week announced that Vinashin Petroleum Investment & Transport JSC (Shinpetrol) was a listed company with high growth in 2006-2007. VIR’s Tran Quynh spoke with the company’s general director Nguyen Duy Hung about Shinpetrol's development strategy under the...
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Read more:lifts
Market ready for change of fortune 2008-03-12 08:37:27 Twelve months ago investors were riding the crest of a wave as the bourse surged to all time highs. Now many are struggling to keep financially afloat as the market plunged amid calls for authorities to send out a rescue package to save investors.
At 11.15am, on March 5, 2008, while top State Securities Commission...
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Read more:Market
, ready
Viet Nam state bank fails to sell VND500 bln bonds 2008-03-12 07:01:15 State-run Viet Nam Development Bank failed to sell any of the 15-year bonds offered at an auction last week as bidders sought yields above the level it would accept, the Hanoi stock market said Monday.
The bank had planned to raise VND500 billion (US$31.5 million) at the auction last Friday, its first sale this year,...
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Viet Nam central bank may reduce deposit rates 2008-03-12 06:59:16 Viet Nam’s central bank may ask commercial lenders to reduce
deposit rates to less than 12 percent, a local newspaper reported, citing Le Xuan Nghia, head of development strategy at the State Bank of Viet Nam.
The central bank will try to stabilize deposit rates to help the government control inflation and companies...
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