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 »

Derivatives market launch in 2016, will help cos hedge interest rate & exchange rate ops in Vietnam: SSC

The Ministry of Finance, Vietnam has set a target to form a derivatives market by the end of next year. It recently issued a Decree 42/2015/ND-CP as the official legislation to frame the operation of the instruments. Through 15 years of development, Vietnam has operated only the stocks and bond markets…. Read more »

Vietnam based Masan Group appoints new CFO

Masan Group, one of Vietnam’s largest private companies, has appointed Michael Hung Nguyen as chief financial officer, in addition to his role as deputy CEO and head of business development. Nguyen has been with Masan for nearly seven years, overseeing the group’s merger and acquisition deals and capital raising transactions, as… Read more »

Vietnam central bank SBV dismisses DongA Bank executives, replaces them with BIDV personnel

The State Bank of Vietnam (SBV) on Friday said it will dismiss and suspend several key executives of DongA Bank, as a special control will be imposed on the debt-laden commercial lender. The announcement came out right after one of the sources cited the bank’s chief executive as saying that foreign… Read more »

Foreign funds eye 49% in Vietnam’s DongA Bank, after lender’s failed deal with Kinh Do

Several foreign funds are eyeing a 49 per cent stake in the Ho Chi Minh City-based DongA Bank, after the lender failed to seal a 17 per cent deal with Vietnam’s leading confectionery and food firm Kinh Do Corporation, DEALSTREETASIA has learnt. Sources familiar with the matter said that foreign… Read more »

Vietnam-based hospitality firm Thang Long GTC launches IPO, collects $16.7m

State-run company Thang Long GTC, a unit of hospitality firm Hanoi Tourist, sold its entire 33.9 million shares during its initial public offer (IPO) auction on Thursday, to earn proceeds of VND363 billion ($16.7 million). The shares were oversubscribed by three times, as 18 investors had earlier submitted to purchase more… Read more »

Vietnam set to finalise policy on scrapping foreign ownership limits

Vietnam has decided to scrap the cap imposed on foreign holding in local firms across various sectors. A detailed drafted circular, for implementing the removal of foreign ownership limit in Vietnamese companies, is likely to be passed sometime this week, the State Securities Commission (SSC) said on Thursday. The regulation, which is part… Read more »

Hanoi to bankroll ‘incorporated-in-Vietnam’ startups to kickstart tech ecosystem

The Vietnamese startup community, already evolving into an ecosystem, is set to get a major boost with government pledging to support the “incorporated-in-Vietnam” startups – with favourable policies and finance. The support was assured by the government officials, who interacted with local tech startups for the first time, at a tech startup event, on Wednesday. “Startups are small businesses,… Read more »