VN roundup: Viettel, VIB, Minh Khai Textile

Visuals from company websites

Viettel’s overseas revenue reaches $1.2 billion

The military-run network operator Viettel announced at its Infrastructure Experience Sharing Workshop that its total overseas turnover had reached $1.2 billion and profits from abroad had hit $115 million.

According to the telecom group, it is currently filing for investment licenses in several African and Eastern European countries.

Viettel is present in ten different markets, including Laos, Cambodia, Mozambique, Haiti, East Timor, Peru, Cameroon, Burundi and Tanzania.

In addition, the group plans to invest in a $1.5 billion project in the Myanmar through a joint venture with local firm Yatanarpon Teleport.

Viettel intends to be a global company by the year 2020 and to be counted in world’s 10 largest telecommunications groups in terms of foreign investment with presence in 20-25 foreign markets.

VIB board members offload and increase stakes

There were big changes in the ownership of VIB Bank in 2014, the domestic financial information website vietstock.vn reported.

VIB Bank’s board member Tran Nhat Minh and his family and relatives have purchased a total of 43.4 million shares of the bank, equivalent to a 10.2 per cent stake, while their holdings at the beginning of last year was zero.

Dang Khac Vy, chairman of the bank, and his relatives reduced their ownership from 14.87 per cent to 4.99 per cent, the ratio that Vy alone is holding. Another board member, Do Xuan Hoang, also reduced his holding from 6 per cent to 4.99 per cent.

The bank, with a charter capital of VND4 trillion ($187.8 million), earned a profit of VND180.84 billion ($8.5 million) in the first nine months of 2014. Its shares are traded on the over-the-counter market at around VND12,700 ($0.59).

Minh Khai Textile offloads 51.5% stake via IPO

Minh Khai Textile successfully sold 1.6 million shares, or a 51.5 per cent stake, through an initial public offering  (IPO) today, at the average price of VND71,990 ($3.4). The starting price was  VND10,100 ($0.47).

The auction attracted 30 investors whose registration volume climbed to 26.8 million shares. The final buyers were three individual investors who paid VND118.7 billion ($5.57 million) for the shares.

Minh Khai Textile’s charter capital after the IPO is VND32 billion ($1.5 million).

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.