Vingroup acquires Ocean Group’s real estate JV Ocean Thang Long?


Vietnam’s realty giant Vingroup might have reached a deal with real estate and financial conglomerate Ocean Group to acquire a majority stake in the Ocean Thang Long Investment JSC (OTL), which is a joint venture between Ocean Group and construction major Vinaconex. According to a few industry insiders, the Ocean… Read more »

VN People Dealbook: Sabeco and Habeco replace chairmen, central bank dismisses DongA Bank key executives

Changes in personnel at the top level at several Vietnamese businesses have taken place. At DongA Bank, following its recently exposed financial problems, its chief executive Tran Phuong Binh and deputy CEO Nguyen Thi Ngoc Van had to step down, to be replaced by people from the Bank for Investment… Read more »

Vietnamese property developer Nova Group forays into dairy business with $50m investment

Vietnam-based Nova Group, which has interest across the real estate, veterinary medicines and food sectors, has forayed in the milk powder market through partnership with Irish food firm Kerry Group. An official from Anova Corp, a subsidiary of Nova Group, confirmed with DEALSTREETASIA that a meeting was held on Thursday… Read more »

Vingroup drops bid for controlling stake in Saigon Port

Vietnam’s largest property developer Vingroup has withdrawn from the bidding process to purchase 80 per cent stake in Saigon Port. Vingroup had earlier submitted bids for acquiring a controlling stake in the Vietnam’s busiest port, the latter has announced. That leaves only Vietinbank and VPBank in the race to be the strategic investors in Saigon… Read more »

In effectual ecosystem, entrepreneurs build companies that are focused on partnership: Nick Norena, IPP Vietnam

The most important part of building a startup accelerator in Vietnam is to take all the right practices and translate them into the needs for the local market, says Nick Norena, who is a mentor at the Training for Trainers (ToT) programme at the Innovation Partnership Program (IPP). IPP, which has been jointly developed… Read more »

Vietnam’s OnOnPay grabs six-digit investment from Captii Ventures

Hanoi-based startup OnOnPay, which allows users to easily top up talk time via mobile, Thursday announced that it has secured a six-digit amount in seed funding from Captii Ventures. The round marks the first ever investment by the Singapore-based venture capital fund in Vietnam. The proceeds from the investment will… Read more »

500 Startups strengthens South East Asia team with two new partners in Vietnam

Silicon Valley-based accelerator and venture capital fund 500 Startups, which has made four investments in Vietnamese startups, has got on board  Binh Tran and Eddie Thai as venture partners for the local market The announcement comes just a month after 500 Startups launched its growth-stage acceleration service “Distro Dojo” in Malaysia, in cooperation with the… Read more »

Vietnam’s T&T Group completes acquisition of Quang Ninh Port

Vietnam-based multi-sector firm T&T Group has finished its takeover of the Quang Ninh Port and assigned personnel for the port operator’s board of directors and the supervisory board. According to announcements by the port company, Pham Ngoc Tuan, who is the standing deputy CEO of T&T Group, has been appointed to be… Read more »

Vietnam’s $9b Nghi Son oil refinery to get additional investment of $200m

Another $200 million of additional investment is being planned for the Nghi Son petrochemical complex project in northern central Vietnam. The investment will be in addition to the initial intended investment of $9 billion, the Dau tu (Investment) cited sources. The 400 hectare project is a joint venture between the country’s oil… Read more »

Kymdan chief executive ups stake in company

Nguyen Tri Tan, chief executive of home rubber furniture firm Kymdan, has bought nearly 61,300 shares of his company from the state-run printing and packaging company Liksin Corporation, increasing his holding from 25.23 per cent to 30.98 per cent. This was announced by Vietcombank Securities Company, which organised the auction of… Read more »