New investment fund set up

The Thanh Viet Investment Fund Management Company (TVMC) has received State Securities Commission (SSC) approval to raise funds for its first investment fund, Saigon Fund A1.
kinh do eyes tribeco

Kinh Do eyes Tribeco

Vietnam’s largest confectionery maker Kinh Do Corporation has announced its plan to acquire Saigon Beverage Joint Stock Company (Tribeco), a big player in the local beverage market, in a bid to expand into the food and beverage industry.

US bond issue rolls in $750m

In spite of recent volatility in international bond markets, Vietnam’s first sovereign bond issue, which took place in New York last week, was well received by international investors, with orders totalling $4.5 billion or six times the amount on offer.
taiwans banks send in scouts

Taiwan’s banks send in scouts

“Anywhere there are Taiwanese companies, there will be Taiwanese banks,” is a common Taiwanese expression amongst banking groups. It’s now true in Vietnam.

State actions ‘open secret’ to fuel bourse

The government has approved a Ministry of Finance proposal to raise the foreign ownership limit for a listed company – a long-awaited move that is expected to lure more foreign investment capital into the local bourse.

Eximbank $12.7m share offer

Local and foreign investors will be given an opportunity to buy into the Vietnam Import-Export Bank (Eximbank) when the financial institution issues VND200 billion ($12.7 million) worth of new shares in October.

VOF swoops to raid key investor IBS

The Vietnam Opportunity Fund (VOF) has inked a deal to buy out Singapore-based Indochina Building Supplies (IBS), the owner of several investment projects in Vietnam, reported a source from VOF’s management arm VinaCapital last week.
city seeks funds to build up frozen real estate market

City seeks funds to build up ‘frozen’ real estate market

Ho Chi Minh City officials are contemplating the establishment of a housing development fund to raise long- and medium-term financing for housing projects, a move which is expected to revive the lagging real estate market.

VASEP talks down basa, tra US ban reports

The Vietnam Association of Seafood Exporters and Producers (VASEP) said that previous reports of a ban on the sale of Vietnamese tra and basa catfish fillets to the US, have proved to be false.
local banks to be hit by client losses

Local banks to be hit by client losses

The market share for state-run banks in Vietnam will shrink significantly by 2010, once Vietnam fully opens its financial market, reported Vietbid, a leading local consulting firm hired by the State Bank of Vietnam (SBV) to build strategies for the banking sector’s international integration.
anz buys into sacombank

ANZ buys into Sacombank

ANZ Banking Group Ltd has officially acquired a 10 per cent stake in Vietnam’s largest joint stock commercial bank, Saigon Thuong Tin Bank (Sacombank).

FIEs to hit bourse

Foreign invested enterprises (FIEs) can now float their shares on the bourse, but they will not be permitted to release 100 per cent of shares on the market, according to a new guiding circular released by the State Securities Commission (SSC) last week.

Yuan revaluation to have minor impact

The revaluation of the Chinese yuan, or renminbi (RMB), will have insignificant effects on Vietnam’s economy, officials from the State Bank of Vietnam (SBV) have reported.

SBV banks on big spending firm up economy

Fearing demand for funds will fuel an interest rate bubble, the State Bank of Vietnam (SBV) has said it will continue injecting more funds into the economy through the open market.
interest rise sparks fear of rate war follow new pressures

Interest rise sparks fear of rate war follow new pressures

A new move by the Saigon Thuong Tin Commercial Bank (Sacombank) to hike interest rates for savings in Vietnamese dong could spark a new interest rate war among local commercial banks, which have been under pressure to raise their rates amid fund shortages and rising prices.