wiki globe

Posts Tagged ‘experts’

PetroVietnam’s capital withdraws to hit stock market, experts say

In Uncategorized on January 8, 2011 at 4:28 am

The oil and gas giant PetroVietnam’s capital withdrawals will effect the stock market in short-term and give a boost to some of its subsidiaries opportunities, financial experts said.

An investor watches share prices updated on a big screen at a HCMC-based brokerage (Photo:Minh Tri)

The Vietnam Oil and Gas Group, known as PetroVietnam, early this year began to withdraw its capital in its subsidiaries, which are not in the group’s core businesses.


The state-owned oil and gas giant also announced it would cut 51 percent of its holdings in the member companies specific in the group’s key fields


The move came from the state-owned gasoline supplier’s attempt to restructure its business model, of which the group will focus on mining and refining oil, according to PetroVietnam’s deputy general director Nguyen Ngoc Su.


The plans come at a time when market developments have facilitated the State’s withdrawal of investment in listed companies such as PetroVietnam Finance (PVF), Phu My Fertilizers (DPM) and Petroleum Technical Services Corp (PVS), baobariavungtau website quoted Su as saying.


The deputy director said PetroVietnam has “basically completed” their plan on restructuring and renewing its subsidiaries, with 14 units being equitised. So far, PetroVietnam has successfully auctioned more than 313 million shares, bringing in VND17,54 trillion (US$986.4 million).


Financial experts said PetroVietnam’s capital withdrawals would affect the slumping stock market, as well as share prices of its listed subsidiaries. However, selling shares in the firms not specific in core businesses will help the oil and gas group to regain a large amount, which will be reinvestments in current projects.


Stock analysts said oil stocks are among the market’s gainers in both short and long term. Listed enterprises specific in mining oil and renting rigs remain in black during the global economic turmoil, and will be the first ones growing sharply when the economy recovers, analysts said.


At present, two subsidiaries of the group including PetroVietnam Technical Services Joint Stock Corp. (PVS) and PetroVietnam Drilling and Well Services Joint Stock Company (PVD) are achieving healthy earning so far this year.


The former made a pretax profit of VND780 billion ($39 million) from a revenue of VND15 trillion in the first ten months of the year. The core businesses’ growth rate of PVS this year rose to over 20 percent year-on-year. PVS closed 2.84 percent lower at VND20,500 on the Ho Chi Minh Stock Exchange on Saturday.


PetroVietnam Joint Stock Finance Corporation (PVF) will likely to achieve thousands of billions of Vietnam dong from exporting crude oil, while PetroVietnam Insurance Joint stock Corp. (PVI) is providing insurance services to a large amount of clients, which are PetroVietnam Group’s subsidiaries and partners.


“There are 25 oil and gasoline firms listing on both exchanges in Ho Chi Minh City and Hanoi. They have a great chance of earning big bucks as local consumer demand for oil this year remains high and the global crude oil price is increasing,” said a director of a HCMC-based brokerage.

Source: SGGP

PetroVietnam’s capital withdraws to hit stock market, experts say

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

The oil and gas giant PetroVietnam’s capital withdrawals will effect the stock market in short-term and give a boost to some of its subsidiaries opportunities, financial experts said.

(Photo:Minh Tri)

The Vietnam Oil and Gas Group, known as PetroVietnam, early this year began to withdraw its capital in its subsidiaries, which are not in the group’s core businesses.


The state-owned oil and gas giant also announced it would cut 51 percent of its holdings in the member companies specific in the group’s key fields


The move came from the state-owned gasoline supplier’s attempt to restructure its business model, of which the group will focus on mining and refining oil, according to PetroVietnam’s deputy general director Nguyen Ngoc Su.


The plans come at a time when market developments have facilitated the State’s withdrawal of investment in listed companies such as PetroVietnam Finance (PVF), Phu My Fertilizers (DPM) and Petroleum Technical Services Corp (PVS), baobariavungtau website quoted Su as saying.


The deputy director said PetroVietnam has “basically completed” their plan on restructuring and renewing its subsidiaries, with 14 units being equitised. So far, PetroVietnam has successfully auctioned more than 313 million shares, bringing in VND17,54 trillion (US$986.4 million).


Financial experts said PetroVietnam’s capital withdrawals would affect the slumping stock market, as well as share prices of its listed subsidiaries. However, selling shares in the firms not specific in core businesses will help the oil and gas group to regain a large amount, which will be reinvestments in current projects.


Stock analysts said oil stocks are among the market’s gainers in both short and long term. Listed enterprises specific in mining oil and renting rigs remain in black during the global economic turmoil, and will be the first ones growing sharply when the economy recovers, analysts said.


At present, two subsidiaries of the group including PetroVietnam Technical Services Joint Stock Corp. (PVS) and PetroVietnam Drilling and Well Services Joint Stock Company (PVD) are achieving healthy earning so far this year.


The former made a pretax profit of VND780 billion ($39 million) from a revenue of VND15 trillion in the first ten months of the year. The core businesses’ growth rate of PVS this year rose to over 20 percent year-on-year. PVS closed 2.84 percent lower at VND20,500 on the Ho Chi Minh Stock Exchange on Saturday.


PetroVietnam Joint Stock Finance Corporation (PVF) will likely to achieve thousands of billions of Vietnam dong from exporting crude oil, while PetroVietnam Insurance Joint stock Corp. (PVI) is providing insurance services to a large amount of clients, which are PetroVietnam Group’s subsidiaries and partners.


“There are 25 oil and gasoline firms listing on both exchanges in Ho Chi Minh City and Hanoi. They have a great chance of earning big bucks as local consumer demand for oil this year remains high and the global crude oil price is increasing,” said a director of a HCMC-based brokerage.

Source: SGGP

Stock market to jump up in first half of 2011, experts predict

In Uncategorized on January 8, 2011 at 4:26 am

Vietnam’s stock market will roar back in the first half of the year on the US’s bullish market, financial experts expect.

(Photo:Minh Tri)

The stock market in Vietnam last year were effected by many macroeconomic factors, while nearby markets including Singapore, Indonesia and Thailand were boosted by the US’s financial bailouts, said M.A. Le Dat Chi, head of the financial investment faculty of the University of Economics Ho Chi Minh City.


“A part of the US$600 billion bailout of the US flew into Asian markets, especially emerging ones. It was just a small proportion for the US market, but it did make big impact to emerging markets, except of Vietnam,” Tri said.


Only investors holding control stake in listed enterprises made profits from dividends as the VN-Index dropped to 430 points in the last quarter of last year, with many shares slumping to incredible levels, he said.


“Vietnam’s stock market is at the bottom, with the ratio of dividends per share equal to 15 percent. This rate is extremely attractive to some investment funds,” the economist said.


“Besides, investors’ confidence in a successful Eleventh Party Congress with new members elected into the central committee will boost the market sentiment. Foreign investments will flow stronger into the stock market, which hit the bottom. Therefore, the market will likely to roar back in 2011.”


Statistics showed nearly the foreign indirect investments (FII) pour into the stock market last year reached $1 billion. Stabilizing the foreign exchange rate should be the top priority this year to attract more FII, Tri noticed.


The financial expert also recommended that more adequate taxes on shares will attract more foreign investors.


“Instead of asking foreigners either to pay security before entering the market or not to sell shares in at least one year, we can impose taxes on the dividend from their share investments,” he suggested


Stock market analysts also predict the market will likely to recover strongly in the first half of the year on the increase of the US market.


“The US dollar getting weaker in the first half of 2011 will be good news for the country’s stock market. However, it will be stronger again in the last half. The market’s winning run will likely to last until June, with Dow Jones Index climbing 12,600 points,”  Tri said.


Statistics showed the stock market usually climbs up in March, April and December every year.


However, the market is still carrying some risks including the US dollar getting stronger constantly, warned Pham Xuan Anh, deputy head of the brokerage BIDV-BSC’s market analysis unit.


“Standard Chartered Bank expected the foreign exchange of Vietnam dong and dollar will reach VND20,800 per dollar at the end of the year, a year-on-year increase of around 6.6 percent,” said Tri.


“The Asia Development Bank last September predicted Vietnam’s inflation in 2010 would rise to 7.5 percent, caused by a weakening dong and an increase in food prices.”


Low foreign currency reserve and large amounts of dollar and gold owned by residents would put the central bank in difficult time, Tri added.

Source: SGGP

Limiting building houses to fight overpopulation, experts say

In Uncategorized on January 8, 2011 at 4:12 am




Limiting building houses to fight overpopulation, experts say


QĐND – Monday, January 03, 2011, 20:38 (GMT+7)

The Ministry of Construction has made an adequate suggestion of allocating the country’s land fund to apartment buildings and limiting the amount of houses in an attempt to cope with the overpopulation, property experts said.


The Ministry of Construction has just suggested allocating the country’s land fund to apartment buildings and limiting the amount of houses in an attempt to cope with the overpopulation.


Statistics from the ministry show there are more than 22 million residential properties nationwide, with houses making the largest part.


“People struggle to buy houses in cities as the amount of available lands is getting low with price surging too high. Therefore, building more houses will waste money and the country’s land fund,” said a property expert.


“Most of local people tend to speculate on property, considering it as the best asset class. People in developed countries, in contrast, only rent houses or pay by installments for a house in many years.”


The expense for building a house remains pretty high. Therefore, allocating the land fund to apartment buildings is the most adequate solutions to lower apartment prices,” said Nguyen Van Hiep, vice director of the Ho Chi Minh City Department of Construction.


The number of apartment buildings in Vietnam just increased steeply in the last 10 years, according to house builders. Among the most comfortable factors apartment dwellers enjoy is the green areas at every buildings.


However, some analysts said local people prefer houses, which are considered as a better investment than apartments.


“Front houses on main streets can be good places to open shops and offices. Some apartment buildings meanwhile are not quite safe and modern. Many apartment dwellers complaint builders set up too many unreasonable fees,” said a director of a HCMC-based property firm.


The Ministry of Construction should improve town planning, instead of restraining the amount of houses, said property experts and residents dissatisfied with apartment building.


“There should be various types of residential properties in a city. The government should encourage apartment building builders, as well as support property firms building houses for low income earners,” a property expert said.


In related news, public lands including dock warehouses and factories alongside Tau Hu and Doi channels in HCMC’s District 8 will be removed to make space for apartment buildings, according to the People’s Committee.


Around 16,000 slum housings of the district will be relocated to new apartment buildings in the period between 2011 and 2020, the committee said.

Source: SGGP

Source: QDND

Local retailers overtake foreign chains, experts say

In Uncategorized on December 24, 2010 at 4:28 am

The number of wholly-foreign owned retailers in Vietnam remains limited after the Southeast country opened the distribution and retail market under its World Trade Organization commitments in January 2008.

(Photo:Minh Tri)

Despite weaker financial potential, technology and management skills, local retailers are now still outnumbering foreign chains in supermarket segment, analysts said.


Vietnam’s biggest supermarket chain Saigon Co.op opened 50 supermarket nationwide, an increase of 22 in the last two years. Its revenue growth rate is up to 35-40 percent per year.


Following is Maximark opening five outlets in Ho Chi Minh City and Nha Trang with an average area of 10,000 square meters at least.


“We [local retailers] are now confident that our supermarket system can compete with foreign chains,” said Nguyen Thi Phuong Thao, director of the HCMC-based Maximark Cong Hoa.


Analysts said some local retailers teamed up with foreign counterparts, including G7 Trading and Service JSC and Japan’s Ministop.


Local retailers completely overtook foreign players in home appliance segment. Four leading retailers including Saigon Co.op, Hapro, Satra and Phu Thai Group cooperated with in each others to set up Vietnam Distribution Associate Network Development and Investment JSC, marking a milestone in the development of Vietnam’s retail sector.


“Local retailers’ biggest weakness is technological infrastructure, human resource and trading skill. But we have good knowledge of consumer culture, as well as getting the government’s preferential policies,” said Phan The Rue, chairman of the Vietnam Retailers Association.


Though the share of modern retail sales in Vietnam is less than 20 percent now, experts expect it to grow rapidly. Statistics showed 50 percent of households in big cities preferred to shop at traditional markets.


Analysts said traditional retail outlets still have an edge over supermarkets as their distribution network is wider. Some traditional markets including HCMC’s Ben Thanh, Hue’s Dong Ba and Hanoi’s Dong Xuan are popular and located at downtown area.


A food supplier in HCMC said his firm’s sales from tradition markets make out of nearly 50 percent of the monthly figure.


“Vietnam’s retail market remains a combination of traditional markets and shopping centers. However, consumers will be gradually familiar with supermarkets’ convenience and modernity, and then they will switch their shopping habits,” said Richard Leech, executive director of CBRE Vietnam.


Experts said consumers have to deal with many issues when shopping at traditional markets, including fake products and inconvenient shopping environment.
 
Vietnam’s sales of retail sector are estimated to reach more than VND1.44 trillion (US$72 billion) this year, an increase of 20 percent year-on-year. The U.S.’s market research firm RNCOS expects Vietnam’s retail market will likely to reach US$85 billion in 2012.


The Southeast country fell to the 14th position this year after being ranked at sixth among the 30 best emerging markets for retailers in 2009 by global management consulting firm A.T. Kearney.

Source: SGGP

Experts suggest construction should go ‘green’

In Uncategorized on December 17, 2010 at 1:57 pm




Experts suggest construction should go ‘green’


QĐND – Friday, December 17, 2010, 20:53 (GMT+7)

It is high time for Vietnam to focus on development of green buildings, an academic and architect told a seminar in HCM City on Dec. 16.


Professor Nguyen Huu Dung explained that the country was in the process of becoming industrialised by 2020 and its rapid rate of urbanisation would mean the population in cities would rise to around 45 percent then from the current 30 percent.


“The construction and real-estate industries need to develop greener alternatives for the current architectural models that require large investments and energy supply but increase pollution,” he told around 200 delegates representing property developers and design and consulting firms.


Many projects overlook the climatic conditions and neglect energy efficiency while choosing construction materials.


The World Green Building Council has said that the construction sector consumes around 40 percent of the world’s energy and generates 30 percent of carbon emissions.


Green architecture refers to building designs that will conserve resources, including energy, land, water, and construction materials, limit pollution, protect the environment, help safeguard the health of consumers and communities, use space logically and efficiently, and ensure a harmonious relationship between human and nature.


Philippe Perruchot, general director of Vina Megastar Land and a consultant in LEED —Leadership in Energy and Environmental Design, (an internationally recognised green building certification system) said green buildings also help improve the corporate image, asset value, risk mitigation and management, worker productivity, and social benefit.


Le Hoang Chau, chairman of the HCM City Real Estate Association (HoREA), said the city has several projects such as the Phu My Hung New Urban Area and Kenton complex project in District 7 that satisfy green building standards with their low construction density and large green and water spaces.


Vietnamese construction regulations on effective energy use in construction released in 2005 is set to be amended early next year to suit the evolving conditions.


Source: VNA


Source: QDND

It’s not a good time to buy gold now, experts say

In Uncategorized on December 16, 2010 at 10:04 am

Gold traders were hesitate on investing more in the precious metal as the physical gold carried high risk of losses in the last two weeks, analysts said.

(Photo:thanhniennews)

The global gold price’s trading band fluctuated in low rates last week, closing at US$1,350 per ounce. The local price meanwhile remained unchanged at VND36 million per tael.


The gap was narrowed on the fact that Vietnam’s central bank has granted more quotas to import gold by year-end, in a bid to cool domestic gold prices and interest rate jumped to 16-18 percent per annum.


Gold experts expect the global gold price will reach the resistance level of $1,424 per ounce as it closed at $1,410 per ounce last weekend.


They also recommended that gold was overbought, so investors should be cautious in restructuring their investment portfolio.


Local gold price remained around VND300,00-400,000 higher than the global one. However, the local price will likely to retreat on imported gold tax rate of zero percent, interest rate of 16 percent per year and the recover of the stock market.


Gold traders expect the global price will make corrections this month, which is the festival season at many foreign countries around the world.


Experts also predicted that the yellow metal will remain the best asset class with high profit rate in the upcoming time as the global gold price will likely to hit the level of $1,600 per ounce.


Global gold on a rise
The global gold price opened at $,353-1,357 per ounce and closed higher at $1,414 per ounce last week on a job report. Statistics showed the number of non-agriculture jobs last month increased only 39,000, much lower than the expectation of 140,000-155,000 jobs, while unemployed rate rose unexpectedly to 9.8 percent.


Gold steadied on Monday after rising nearly 2 percent in the previous session to above $1,400 an ounce, with a struggling U.S. dollar that pushed silver to its highest since early 1980 likely to spur more buying from investors, according to Reuters.


Any signs of a weaker U.S. economy or heightened tensions between the two Koreas could also bolster gold, while worries about euro zone sovereign debt remain on investor minds.
South Korea started live-fire naval exercise on Monday, despite Pyongyang’s warnings against conducting the drills in disputed waters off the west coast of the peninsula.


Spot gold rose to $2.15 an ounce to $1,416.50 by 0709 GMT, having hit a low around $1,408. Gold had risen as high as $1,415.36 on Friday as the dollar tumbled following disappointing jobs data in November.


Bullion hit a record high around $1,424 an ounce in November.

Source: SGGP

Ophthalmologic experts meet in Hanoi

In Uncategorized on December 16, 2010 at 9:59 am

The annual meeting on prevention of blindness opened in Hanoi on December 11. Attracting more than 600 doctors, surgeons and technological experts from eyes centres and hospitals from 63 Vietnamese provinces and cities along with many international experts, the ophthalmologic sector discussed its progress over the years.

The annual meeting on prevention of blindness opened in Hanoi on December 11. (Photo:cpv.org.vn)


The meeting provided an opportunity for ophthalmologic doctors at home and abroad to exchange ideas and discuss various advances made in the latest research projects. 81 topics relating to the Ophthalmologic sector were discussed at the meeting.


The meeting also reviewed the results of  preventive measures taken in Vietnam and plans for future applicable measures to be taken in the coming years.


According to statistics, the number of blind cases in Vietnam had decreased from 0.63 percent in 2002 to 0.5 percent in 2010.  However, the Vietnam Ophthalmologic sector still faced many challenges and focused on targets set to achieve by 2020.


As of now, Vietnam has more than 373,000 people who faced total blindness due to cataract. Many cataract patients faced great difficulty in their daily lives and were also unable to meet the cost of treatment. Furthermore, over 3 million teenaged children suffered impairment of their sight due to refractive errors.

Apart from the meeting, an exhibition was held to introduce new advanced ophthalmologic methods and achievements in Vietnam and other parts of the world.



 

Source: SGGP

Experts eye ways to protect national park

In Uncategorized on December 16, 2010 at 9:39 am




Experts eye ways to protect national park


QĐND – Wednesday, December 01, 2010, 21:25 (GMT+7)

Tourism promotion and environmental protection in Phong Nha – Ke Bang National Park were discussed on Nov. 30 in a seminar between Vietnamese and German representatives.


The seminar is part of a communication project funded by the German Development Cooperation to protect the park.


“Environment protection and tourism development cannot contradict each other. We support Vietnam through new communication initiatives that will be joined by the local community to protect the environment,” said Constanze Esenwein, a representative from the German Embassy.


The participants discussed their attempts to promote environmental protection in the community.


The project will focus on delivering brochures, organising exhibitions and screening documentaries to help the community learn about environmental protection.


Tourists will be responsible for protecting the diversity of fauna and flora in the park, said Constanze.

Phong Nha-Ke Bang National Park is located to the north of the Truong Son mountain range in the central province of Quang Binh, one of the world’s two largest limestone regions.

The over 200,000ha park includes beautiful formations, grottoes and caves, and boasts lush forests covering 95 percent of the land.


According to initial statistics, the tropical forest in the park houses 140 families, 427 branches, and 751 species of plants, of which 36 are endangered and listed in the Vietnam Red Book.


The forest is also home to 381 species of four-legged invertebrates. Sixty-six species are listed in the Viet Nam Red Book and 23 others in the World Red Book.


Source: VNA


Source: QDND

Investors trapped with market reports, stock experts say

In Uncategorized on November 27, 2010 at 11:20 am

Many securities companies and institutional investors were trying to trap investors with their inaccurate analysis and unreliable recommendations, experts say.

Investors watch share prices at the Ho Chi Minh Securities Corporation (Photo: Minh Tri)


 


The Ho Chi Minh City Stock Exchange’s VNIndex may climb as high as 700 “at some point during this year,” and return within two years to the 1,000 level that it last touched in 2007, Kevin Snowball, chief executive of PXP, said in an interview in July.


 


But financial experts said the fund’s analysis was unreliable as the gauge of 270 companies and five mutual funds listed on Vietnam’s biggest stock market remained gloomy, closing at 439.85 points on Thursday.


 


PXP Vietnam Emerging Equity Fund Ltd. is among the big sellers this month. According to the Ho Chi Minh City Stock Exchange’s website last week, the fund failed to sell its shareholding in Southern Seed Corporation (SSC), Binh Thanh Import Export Production and Trade Joint Stock Company (GIL) and Transforwarding Warehousing Joint Stock Corporation (TMS) because of plunging share prices.


 


VN Direct Securities Ltd. last week warned in its report that the market was experiencing “a short-term panicky time” due to increasing interest rates and pressures on repaying loans against shares. Therefore some brokers and investors will sell shares strongly, the Hanoi-based broker said.  


 


“There is no way to know which amounts of money flowing on the market are individual investments or loans against shares. So how could VN Direct be sure that the market is under pressure on repaying loans against shares?” a stock market analyst, who wants to be unnamed, said.


 


He also said securities firms shouldn’t release incorrect analysis, which could hit the market’s sentiment.  


 


Some big shareholders in listed companies announced on the Ho Chi Minh City Stock Exchange that they would buy back shares as share price is pretty low, according to the exchange’s website.


 


But financial experts said some listed companies’ directors tried to restore investors’ confidence by negotiating with big shareholders, buying back shares from to sell shares at low prices and then sell out when the market recovers.


 


Investor confidence was also anxious by market analysis of brokers, which are run by listed companies.


 


Petro Vietnam Securities Incorporation (PSI) early last week recommended investors to buy PFL shares of the PetroVietnam Finance Land JSC, which was predicted to increase to VND18,559 per share. The construction firm, listed on the Hanoi Stock Exchange, remained unchanged at VND12,000 on Thursday.


 


Many investors however didn’t buy the broker’s recommendation as they were afraid it was trying to help PFL shareholders to sell out in the recent slumping market. “Both PSI and PFL are subsidies of the gasoline maker Petro Vietnam, which sold its holdings in listed subsidies recently. So I think there will be a strong selling of PFL shares soon,” said an individual investor in Ho Chi Minh city.   


 


A director of a HCMC-based broker disclosed many securities firms tended to release optimistic market reports in an attempt to keep their clients.  

Source: SGGP