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Business in brief
Date :  08/10/2018
(Sourced from various news agencies)
  • Ho Chi Minh City is likely to produce 180 million ornamental fish and export in excess of 20 million fish to earn up to US$23 million this year according to its target program on ornamental fish development. The Fisheries Branch of the Municipal Department of Agriculture and Rural Development reported that 137 million ornamental fish were produced during the first nine months of the year, a year-on-year rise of 19%. Nearly 15 million fish were shipped abroad via Tan Son Nhat Airport with an export value of nearly US$17 million, up 14% over the same period last year. At present, 21 separate companies are allowed to export ornamental fish, of which the Saigon Ornamental Creatures JSC account for 85% of total exports. The city’s ornamental fish has been shipped to 43 countries in the world with the European market the biggest and constituting 54% of exports. The remainder comes from the Asian, American and South African markets. Furthermore, during the final months of 2018, the city aims to produce 40-45 million fish and export a further 4.5-5 million of them with a total export value of US$5-6 million. (VOV)
  • Vietnam’s trade as a percentage of GDP topped 200% last year, highest for any country with over 50 million people. This data, compiled by the World Bank, shows that the country is reaping the benefits of an open economy at a time that protectionism is on the rise. The figure of trade as a percentage of GDP is calculated by dividing the value of exports and imports by GDP, and the proportion of Vietnam is higher than that of China, Germany, Japan, the Philippines, Thailand and the U.S. Vietnam’s trade turnover reached $312.1 billion in the first eight months this year, up 14.5% year-on-year, according to Vietnam Customs. The country also enjoyed a record-high trade surplus of $4.69 billion in this period. The U.S. was the largest export market for Vietnam in the period, with a value of $30.8 billion, followed by the E.U. at $27.8 billion and China at $24.4 billion. (Vnexpress)
  • E-commerce revenue reached US$6.2 billion last year, a year on year increase of 24%, reported E-Commerce and Digital Economics Department under the Ministry of Industry and Trade. The number accounts for 3.6% of the country’s retail sale of goods and consumer service earnings. It is estimated that 33.6 million people attend online shopping in Vietnam and each person spend VND4.3 million (US$184). Of these, 24% spend more than VND5 million, 31% spent VND1-3 million, 25% less than VND1 million and 20% from VND3-5 million. Of goods purchased online, 59% are clothes, footwear and cosmetics; 47% are technology, electronic products and home appliances. In Vietnam, up to 82% of people pay in cash while receiving goods. (SGGP)
  • Vietnamese rice exports have never experienced a rise quite like that just seen in the first nine months of 2018. Notably, high quality rice accounted for 80% of all rice exported, helping to lift the average export price to more than 500 USD per ton, surpassing Thailand and an unprecedented move in the sector’s exporting history. To become a regular rice supplier for world famous supermarket chains such as Walmart and Cosco, the rice sector had to overcome numerous barriers in order to meet the strict requirements on rice quality. According to experts, the domestic rice sector will continue to be eventful with high demand for imports while the supply from other foreign rice export countries remains limited. In order to take advantage of this opportunity, local  rice enterprises should increase effective productivity, pushing the title of Vietnamese rice on the international market, while keeping in line with increasing value through quality. (VNA)
  • As of October 5, 214 businesses from 11 provinces and cities nationwide have registered to attend next month conference on goods supply-demand connectivity. According to HCMC Department of Industry and Trade, businesses will participate in the event taking place from November 23-25 in the Mekong Delta province of Ben Tre. The conference aims at creating opportunities for businesses and distributors to cooperate in goods consumption locally and abroad, create conditions for farmers and cooperatives to work with domestic and foreign distributors. That is also a chance for HCMC to seek specialty supply sources to provide the city’s market in the upcoming Tet holiday. (SGGP)
  • The HCMC Stock Exchange has announced the list of 78 shares which are not eligible for margin trading in the last quarter of this year – with many of them under the radar of investors. Margin trading refers to the practice of borrowing money from brokerage companies to trade a financial asset, which forms the collateral for the loan from the broker. Many of illegible shares have trading time of less than six months, including multimedia firm Yeah1 Group Corporation (YEG), Vinhomes (VHM), FPT Retail (FRT), Century Land JSC (CRE), real estate developer Đạt Phương (DPG) and Hải Phát Investment JSC (HPX). The banking sector has two names, including Techcombank (TCB) and Tiên Phong Bank (TPB). Two others operate in the aviation service sector, including Saigon Ground Service JSC (SGN) and SCSC Cargo Service Corporation (SCS). Others are operating in the mineral industry, financial market, pharmaceutical sector and seafood processing and industrial manufacturing industries. (VNS)
  • Three Vietnamese firms have made it to Forbes Asia’s 200 Best Under A billion-TOP 200 list in 2018, which highlights the 200 high-performing Asia-Pacific companies with revenue under 1 billion USD. They are Vicostone Company, Power Engineering Consulting Company 2, and Vietnam Mining and Construction Company. Among the three Vietnamese businesses in the TOP 200, Vicostone JSC has the most impressive growth in revenue and benefit in recent years. Last year, the firm earned 4.35 trillion VND (186.78 million USD), up 35.5% from 2016. Its after-tax revenue in 2015 was over 404 billion VND (17.3 million USD). The figure rose 67% to 676 billion VND (29 million USD) in 2016 while escalating to more than 1.12 trillion VND (48 million USD) in 2017. This year, the firm targets 5.29 trillion VND (227.1 million USD) in revenue, and 1.35 trillion VND (57.9 million USD) in profit. (VNA)
  • Masan Group Corporation has announced the completion of SK Group’s purchase of 109.89 million of its treasury shares at 100,000 VND (4.28 USD) per share for a total consideration of 470 million USD. The Republic of Korean company is now the largest foreign shareholder in Masan Group with a 9.5% stake. The two had signed a strategic agreement last month to jointly pursue transformational business opportunities in Vietnam and to synergize existing business units. Masan has said it plans to utilize the money to fund future growth initiatives and strengthen its balance sheet. Its management expects core net profit after tax to jump by at least 50% in 2018 and forecasts similar earnings growth momentum in fiscal year 2019 as all its core businesses continue to achieve growth plans. The company does not intend to issue additional shares in the next three years. (VNA)
  • State-owned shipping firm Vietnam National Shipping Lines (Vinalines) will trade 5.4 million shares on the Unlisted Public Company Market (UPCoM) on October 8, announced by the Hanoi Stock Exchange. The shares, under code MVN, will start the first trading day at 10,000 VND (43 US cents) per share. At this price level, the company’s market capitalisation will reach 54 billion VND. On September 5, Vinalines put up 488.8 million shares, or a 34.8% stake, on sale but only 5.43 million shares were taken at an average price of 10,002 VND. According to the equitisation plan, Vinalines will have chartered capital of nearly 14.05 trillion VND, thus trading volume on UPCoM accounts for less than 0.4% of Vinalines’ capital. (VNA)
  • The Saigon-Hanoi Commercial Bank (SHB) has been honored by the financial publication Asiamoney as the best bank for corporate social responsibility in Vietnam. Asiamoney, a leading finance-banking magazine in the Asia, lauded SHB for its coherent strategy in shouldering responsibility for the community with various social security projects. Notably, the bank’s “Love sharing” and “Wings of faith” programs sent 5 billion VND (215,000 USD) worth of gifts to children of disadvantaged families across the nation, along with invaluable leadership skills and lessons. Asiamoney’s annual award program is organized annually to decide which banks in six Asian-Pacific countries have excelled across a range of core banking activities. The awards include Best domestic bank, Best corporate and investment bank, Best private bank, Best international bank, Best bank for small and medium-sized enterprises, Best digital bank, and Best bank for corporate social responsibility. (VNA)
  • The Vietnam Thuong Tin Commercial Bank (VietBank) targets to list its shares on the UPCoM within a year of increasing charter capital to more than 4.25 trillion (181 million USD) in 2018. According to a resolution released recently, VietBank will issue shares for its existing shareholders and employees to raise its capital by more than 1 trillion VND (42.5 million USD). Nearly 91 million shares for existing shareholders and more than 9.7 million ESOP (employee stock ownership plan) shares will be offered at the price of 10,000 VND a piece, based on the bank’s book value of 10,247 VND per share by December 31, 2017. Existing shareholders and the bank’s employees will be allowed to buy the shares at the ratio of 100:28. Existing shareholders can transfer the right to purchase the shares, which will not be subject to restrictions on the time of transfer. The ESOP shares will not be permitted to be transferred within three years of the offering. (VNA)
  • Vietjet will launch its newest international route connecting the central city of Đà Nẵng and Bangkok on October 15, the airline announced last week. The new international route emphasizes Vietjet’s goal of increasing the number of destinations for the convenience and enjoyment of its flyers, the carrier said in a statement. Daily flight service from Đà Nẵng to Bangkok departs Đà Nẵng at 1.35pm and arrives at 3.15pm, while the flight leaves Suvarnabhumi airport at 11.10am and arrives in Đà Nẵng at 12.50pm. Taking just one hour and 40 minutes, the flight connects two vibrant cities together. Bangkok is the capital of Thailand, the land of smiles, with popular tourist attractions such as the exotic grand palace and weekend market shopping paradise. From Bangkok, passengers can also connect to other Thai destinations such as Chiang Mai, Chiang Rai, Phuket and Krabi, according to Vietjet. (VNS)
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