17:19 (GMT +7) - Tuesday 12/12/2017

PRESS WATCH

November 29

Released at: 14:27, 29/11/2017 PRESS WATCH

November 29

VET's round-up of news from Vietnamese media for November 29.


FPT Retail ready for IPO

FPT Retail is in the final stages of preparations for its IPO at the end of the year. It plans to list before April 30, 2018. The company plans to pay dividend by shares at a ratio 1:1 share in 2017, and from 2018 to 2020 will pay a cash dividend annually of a minimum of 20 per cent. FPT Retail’s earnings per share (EPS) in the most recent 12 months was VND6,428 and in 2017 is expected to reach VND7,277 per share and a forecasted VND9,914 in 2018.

MoIT announces details of Sabeco sale

The Ministry of Industry and Trade has announced information on the public offering of shares in the Saigon Beer Alcohol Beverage Corporation (Sabeco). The competitive offering date is December 18. Mr. Truong Thanh Hoai, Director of the ministry’s Heavy Industries Department, said that about 343.3 million shares will be offered, equal to 53.59 per cent of charter capital. The starting price is VND320,000 ($14.1) per share, representing a total value of VND109 trillion ($4.4 billion). The starting price is determined on the principle of the highest of the three prices.


Timber and timber product exports to rise 10% against target in 2017

Export turnover from Vietnamese timber and timber products is estimated to hit $8 billion this year, 10 per cent higher than the target, the Ministry of Agriculture and Rural Development told a meeting on sustainable forestry development. The forestry sector recorded many other encouraging achievements this year, according to Mr. Nguyen Quoc Tri, Deputy Director of the ministry’s Forestry Administration: growth of nearly 200,000 ha of forest, equivalent to 100 per cent of the annual target, rapid reductions in the number of violations of forestry-related regulations, and increasing investment by businesses and individuals in the forestry sector. Authorized agencies have detected more than 14,500 violations since early this year, a year-on-year fall of 70 per cent. These left 1,400 ha of forest damaged, a year-on-year decline of 20 per cent.


Hoi An permits homestays

Authorities in Hoi An ancient town in central Quang Nam province have issued a new regulation permitting permanent residents without foreign spouses to provide homestay services to tourists. According to a plan to develop lodging facilities in Hoi An in the 2017-2020 period, the regulation is aimed at preserving, promoting, and introducing local culture, traditions, historical values, and daily life. Homestay service providers are also required to live in families with at least two generations at the time they seek permission to operate as homestays. As for architecture, a homestay facility must have no more than two floors with ancestral altars and a common room. Investors are banned from building swimming pools in the area of homestays.

Factory producing wire for Boeing may be established in HCMC

A factory producing wire for US aircraft manufacturer Boeing may be set up in Ho Chi Minh City shortly, said Mr. Eugene Kim, Chairman of South Korea’s Huneed Technologies, a strategic supplier of Boeing. Speaking at a meeting with the city’s Chairman Nguyen Thanh Phong, Mr. Kim revealed that Huneed Technologies is bidding to provide equipment for Boeing. If the company wins, it may expand its production by establishing a factory at the Saigon Hi-Tech Park in Ho Chi Minh City’s District 9.


Song Da to conduct IPO on December 25

The State-owned Song Da Corporation will offer nearly 220 million shares at its initial public offering (IPO) on December 25 at the Hanoi Stock Exchange. The shares will be sold at a starting price of VND11,000 (49 US cents). Shares offered at the IPO are equal 49 per cent of its charter capital, which stands at VND4.5 trillion ($200 million), or 450 million shares, the company said. It expects to raise more than VND2.4 trillion ($105 million) from the IPO. It also plans to sell 822,000 shares to its employees at preferential prices. After the IPO, the government will hold 51 per cent but will reduce its holding to below 50 per cent by the end of 2019.

15 banks in The Asian Bankers’ AB500 rankings

Fifteen Vietnamese banks have recently been named in The Asian Bankers’ AB500 rankings and a survey of Asia-Pacific’s strongest banks. The banks include Vietcombank, BIDV, VietinBank, Techcombank, MB, LienVietPostBank, ACB, VPBank, HDBank, TP Bank, SHB, VIB, SeABank, Sacombank, and PVcomBank. The Asian Banker annually releases its AB500 ranking and survey of Asia-Pacific’s strongest banks, an evaluation based on the belief that a strong bank demonstrates long-term profitability from its core businesses.

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