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Posts Tagged ‘Earn’

Bearish market sees senior staffs earn less

In Uncategorized on January 8, 2011 at 4:27 am

The slumping stock market leaves brokerages struggling to pay high-class personnel including market analysts and financial experts with high salary. 

Two brokers (in front) watch listed companies’ profile on their laptop at a HCMC-based brokerage (Photo:Minh Tri)

A broker earns an average payment of around VND4-5 million (US$200) per month, a director of a HCMC-based brokerage said, adding some brokerages pay low salary with high commission to encourage their brokers to work harder.


A new graduate now working as a broker at a brokerage in HCMC, only identified as L., said his monthly salary was too low for extra personal meetings to win more clients.


“My colleagues make enough money for living even in bearish time as they have a lot of clients,” L. said.


Some brokers agree to work with low payment as they are offered rights to buy shares with special prices.


An experienced broker, who asked not to be named, said she turned down a securities firm’s offering with higher salary as the current brokerage sold her shares in profitable companies with preferential prices.


“Brokerages are hunting talented candidates for the position of managing the market analysis department,” Nguyen Thanh Hung, general director of the Sacombank Securities JSC, said.


“However, a few are willing to take that job in spite of the high salary of more than VND20 million per month. The market research and analysis department is mainly criticized for their wrong predicts when the market is volatile,”


Similarly, a big brokerage paid $2,000 for the position of market analyst and financial experts. The firm’s market reports were considered as the best at that time, with detailed information and good analysis on listed companies’ business activities.


However, the firm then incurred huge losses from the market research and analysis department, which offered reports for free. Therefore, they eventually had to chop down the salary level to less than VND10 million. 


“Brokerages are very picky in recruiting brokers these days. At the outset, they recruited around 10 brokers. But then just a few of them, who proved their competence, will stay as the brokerages will take over clients of the remainders before throwing away,” a veteran broker disclosed.


Some other securities firms offered big payment to brokers holding a large amount of clients, asking them to make a monthly or quarterly fixed revenue in return.


A brokerage, which is one of the country’s 10 biggest securities firms, recruited a large number of brokers early this year, but it had to cut nearly half of the amount in the middle of the year due to the slumping market and the high employee cost.


“We tried to recruit part-time employees for our provincial branches in an attempt to cut operational costs. But just a few were willing to join as they want full-time jobs with stable payment,” he said.


“Good directors can make proper recruitment plans as they are good at analyzing the market. Common ones usually have to deal with either an abundant number of brokers in a bullish market or a shortage of employees in bearish market,” Pham Linh, general director of the Hanoi-based VISecurities JSC, noticed.

Source: SGGP

Tra fish farmers earn big bucks with exporters

In Uncategorized on December 18, 2010 at 9:26 am

While most fish farmers in the Mekong Delta are anxious about World Wildlife Fund putting Vietnam’s tra fish on “Don’t buy” list, those in Dong Thap Province’s Hong Ngu District still enjoyed a booming yield thanks to the cooperative model.

(Photo: http://www.hungvuongpanga.com)

“I have just harvested 1,000 tons of small fishes weighted 750-850 gram per one and earned the highest-ever net profit of more than VND3 billion (US$150,000) from selling to the seafood exporter Bianfishco at the price of VND23,000 per kilogram,” said farmer Ho Thi Kim Tho of Hong Ngu District.


Tho said she made a big profit of more than VND8 billion from nearly 3,000 tons of tra fishes so far this year as local exporters bought at high prices.


“I earned more than VND5 billion from selling 2,000 tons of fishes to Bianfishco. This is the amount that I’ve dared not to dream of before,” Nam Phuc, another farmer in the district, said.


Farmers said the cooperation with local seafood exporters helped them made good profits this year. “Since we cooperated with seafood firms, we’ve not been worried about finding buyers, while they helped us to improve our breeding methods,” said a fish farmer in Hong Ngu District.


Bianfishco, also known as Binh An Seafood Co., said it bought fishes from farmers in the Mekong Delta’s provinces of Can Tho, An Giang and Vinh Long to export into the U.S. and Euro.


The cooperative model with farmers directly selling fishes to seafood enterprises was proving to be an adequate way to boost the seafood industry’s growth, said deputy minister of agriculture and rural development Luong Le Phuong.


The Ministry of Agriculture and Rural Development asked relevant units to shut down the seafood plants, which are not qualified for hygiene standards.


The Ministry also instructed the Vietnam Association of Seafood Exporters and Producers (VASEP) to adjust their seafood firms ranking, relying on quality instead of quantity.


Raising exported pangasius price
At a meeting in Ho Chi Minh City, Vietnam’s 20 leading seafood exporters came to an agreement to raise the exported price of tra fish white fillet to $3 per kilogram and red fillet to $2.05 per kilogram. The increase will not be applied to the U.S.’s buyers.


Raising exported prices will encourage local exporters to buy tra fishes at the price of VND21,000 per kilogram or more, which will ensure farmers can make good profits, according to VASEP.


Statistics from the State Bank of Vietnam show that the outstanding loans for agriculture sector reached more than VND358 trillion ($17.9 billion) in the first ten months of the year, of which loans for tra fish farmers rising by 10.5 times of 1998’s figure.

Source: SGGP

Farmers earn big time from selling catfishes to US

In Uncategorized on December 16, 2010 at 9:33 am

The Gulf of Mexico oil spill problem rocketed price of exported catfish fillet to the US market, helping local farmer to gain big profits.

(Photo: http://www.dangcongsan.vn)

“We are taking pretty good profits from the surging catfish prices,” said Nguyen Van Mung, a catfish farmer in the Mekong Delta province of Dong Thap.


Local seafood producers exporting catfish fillet to the US market bought small catfishes with an average weight of 750-850 gram strongly at very high prices, he said.


“Farming costs this year was reduced significantly as we sold young catfish,” Mung said, adding that this year’s harvest time was 1-2 months sooner than previous years.


Mung gained a net profit of more than VND2 billion (US$100,000) from selling 700 tons of catfishes at the price of VND22,000 ($1) per kilogram, the highest gain in the last three years.


It usually takes farmers 6-7 months to farm catfishes for European and Asian markets. The US people preferred small catfishes, which are around 4-5 months old, so the profit from this market is better, Mung said.  


“Catfish farmer can make a profit of VND3,000-4,000 per kilogram from the current price offered by seafood exporters,” said veteran farmer Nguyen Van Thanh in the adjacent province of An Giang.


Statistics showed that export turnover of Vietnam’s seafood in October rose 20 percent year-on-year to $532 million. The turnover in the first 11 months of the year reached to the highest ever of $4.5 billion, only $3 billion lower than the year’s target. Analysts said the exported catfish fillet price of $4-4.2 per kilogram would ensure a booming harvest to local farmers.


However, the Mekong Delta Agriculture and Rural Development Department warned that farmers still have to deal with many problems after this year’s harvest time, including the lack of reinvestment and the increase in costs of fish foods and medicine.


Farmers said most of them had to borrow money from banks as it cost a huge investment of VND18-20 billion to breed 1,000 tons of catfishes. Borrowers can now expect to pay 16-18 percent interest on loans, up from 13-14 percent just a few weeks ago.


Banks favor co-operatives
The current lending rate of 16-18 percent is the biggest obstacle for local exporters, said Nguyen Van Dao, director of the seafood maker Go Dang. Some exporters said many lenders were not willing to offer loans to them.


Asia Commercial Bank (ACB)’s Can Tho Province branch, meanwhile, said they still loaned catfish exporters. But they restrained to provide loans for individual farmers, who they struggled to supervise.


The branch said they could consider to loan farmers, who cooperate with co-operatives outsourcing for seafood producers. 

Source: SGGP

Vietnamese Footballers Lose Their Way As They Earn Money, Fame

In Vietnam Sports on September 9, 2009 at 2:55 am


With the focus solely on honing players’ football skills, clubs in Viet Nam are neglecting other larger lessons the footballers need to learn, social scientists warn.








A scene of vying for the ball in a V-League 2008  match between Hoang Anh Gia Lai (left) and Da Nang (Photo: baovietnam.vn)















One commentator recalls his “strongest impression” of Pham Van Quyen, once the golden boy of Vietnamese football.


“[It] was at a ceremony held for him to join ‘The family of Pepsi’ in April 2004,” he says.


“That day, dressed in a pair of jeans and T-shirt, Quyen was very shy as he shook hands with celebrities, particularly when he and pop star My Tam posed for a photo.”


But now the commentator finds Quyen the most notable among footballers whose careers have nosedived because of their lack of discipline and self-indulgence.


Quyen, born into a poor family in a small village in Nghe An Province, spent most of his childhood herding buffalos. He had been brought up singly by his divorced mother. In his spare time, he played football using a pomelo for a ball.


Recognizing his talent, people encouraged Quyen to take a trial with V-League team Song Lam Nghe An. He passed the test easily.


He then began to spend most of his time practicing with his teammates. He also got to see them drink, gamble, and go around with young girls on their arms.


As his talent bloomed and he began to earn more money than he had ever imagined, he began emulating his seniors, taking to drink, gambling, and other vices.


Having nothing except ball kicking

Quyen came into the big league with almost nothing except his ball-kicking skills. Not unexpectedly, he was socially diffident, especially in the company of educated people. To cover up his humble background, it appeared, he put up a facade of luxurious living and cultivated “cool” habits.


When Pham Phu Ngoc Trai, general director of Pepsi Vietnam, asked him about his smoking habit, Quyen strongly denied it though, by that time, his smoking and drinking “skills” were reportedly on a par with his football skills.


This situation, where footballers from modest backgrounds falter after being thrust into the limelight, is partly due to their managers, who fail to teach them a healthy lifestyle. Nguyen Van Vinh, managing director of Hoang Anh Gia Lai, another V-League club, says they even get the players embroiled in fraud — such as falsifying their age to play in age-limit tournaments.


Asked what can be done to address this persistent problem, he said every club should have a psychologist, like in many other countries, who can counsel footballers, particularly young ones, on moral and lifestyle issues.   


He added that footballers’ parents should pay more attention to educating their children and not entrust them totally to their teams.


Source: SGGP