asiana plaza to go fully foreign owned

Asiana Plaza to go fully foreign owned

South Korea’s Kumho Construction & Engineering Inc. will go it alone in the long-stalled Asiana Plaza office building complex project in Ho Chi Minh City, pending approval of a proposal by local partner Saigontourist.
london pledges local support

London pledges local support

London will do all it can to back Vietnam’s bid to develop its financial market and entice more European businesses to the country, said the lord mayor of the city, Alderman Michael Savory.

UK bank SCB wins out in bidding for ACB stake

The UK’s Standard Chartered Bank (SCB) has outbid its foreign rivals to acquire an 8.56 per cent stake in Vietnam’s second-largest joint-stock commercial bank, Asia Commercial Bank (ACB).
prudential buys into kinh do

Prudential buys into Kinh Do

British life insurer Prudential Vietnam has inked a deal to buy a 6 per cent stake in the Kinh Do Corporation, Vietnam’s leading confectionery maker.
mof to beef up bourse

MoF to beef-up bourse

In an attempt to feed the hungry Vietnamese stock market, the Ministry of Finance (MoF) last week submitted a list of around 300 equitised enterprises for government approval to put them on the local bourse.
kinh do mulls sweeter listing deal

Kinh Do mulls sweeter listing deal

Vietnam’s largest confectionery maker is considering a plan that would allow foreign investors to buy shares as the company sets out to boost capital.
anz bank buys into sacombank

ANZ bank buys into Sacombank

ANZ Banking Group beat rival bidders to acquire a 10 per cent stake of Vietnam’s largest joint stock commercial bank, Saigon Thuong Tin Bank (Sacombank).
foreign funds start to make capital gains

Foreign funds start to make capital gains

Many foreign investment funds have promised to pump hundreds of millions of dollars into Vietnamese businesses, offering fresh hope for domestic companies in dire need of new capital sources. As Nguyen Hong discovers, the funds offer more than just money.
fund takes a slice out of kinh do

Fund takes a slice out of Kinh Do

The Vietnam Opportunity Fund (VOF) now owns a 10 per cent stake in Vietnam’s leading confectionery maker Kinh Do, a source from VOF’s management arm VinaCapital said last week.
european banks hail deposit move

European banks hail deposit move

European Union banks operating in Vietnam are now permitted to accept Vietnamese dong deposits at the same level as their American counterparts, according to a new decision issued by the State Bank of Vietnam last week.
investors swallow vinamilk shares

Investors swallow Vinamilk shares

Investors rushed to snap up 1.827 million Vinamilk shares put up for sale last week, with foreign firms emerging as the clear winners of the auction held in Ho Chi Minh City.
korean firm wins landmark deal

Korean firm wins landmark deal

A South Korean firm is set to become the first foreign firm to invest in the infrastructure sector under the turn-key method.
korean film venture focuses on vietnam

Korean film venture focuses on Vietnam

South Korean cinema giant Image to Imagination (ITOI) are hoping to team up with Dat Sang Media Ltd on a joint venture project to establish a film school in Vietnam.
acb attracts foreign eyes

ACB attracts foreign eyes

Foreign banks and financial institutions have expressed interest in buying into Vietnam’s second-largest joint stock commercial bank, Asia Commercial Bank (ACB), according to a senior ACB executive.
when cash is king can plastic reign

When cash is king, can plastic reign?

Last year saw a dramatic rise in the development of Vietnam’s card market, with local and foreign banks leading the charge. The automated teller machines (ATMs) network is growing and more retailers are catching on by accepting card payments. But when will plastic money really take off in Vietnam?