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Posts Tagged ‘firms’

Bitter end for acquired firms listing on stock market

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

Investors always expect that the mergers and acquisitions will bring booming time to their firm’s businesses, but many acquired enterprises are in red after the acquisition. 

Two investors discuss the stock market’s moves at the Ho Chi Minh City Securities JSC (Photo:Minh Tri)

Korea’s retailer Lotte announced its 40 percent stake in Vietnam’s confectionery firm Bibica (BBC), but some brokers said the actual holding is more than 51 percent, which put the Korean firm into the positions of chairman and financial manager in the candy maker’s board of directors.

The acquisition helps boost Bibica’s businesses and competitiveness, analysts said. However, Bibica is still miles behind the confectionery giant Kinh Do (KDC) in term of marketing, which is the most important skill in the candy industry.

Therefore, Bibica may not be among the great deal for both long-term and small-time investors, experts said.

Similarly, beverage firm Tribeco (TRI) incurs constant losses in seven years after Kinh Do bought its control stake. The firm now almost does not stand a chance to compete with both local and foreign rivals, including Tan Hiep Phat and Pepsi. Many brokers, therefore, put Tribeco into “Don’t buy” list.

Brokers and financial experts also pay high attention to mergers and acquisitions of securities enterprises, which are alongside banks to be the two main factors of the financial market.

However, the mergers and acquisitions in the last three years were ineffective as none of brokerages showed any improvement. The competitiveness of brokerages remains low, experts noticed.

“A company failing to beef up its acquired ones’ businesses will struggle to buy control stakes in other firms. Investors are hesitate to buy shares in big earning companies with low dividend rates and share prices treading water,” said a broker of a HCMC-based securities.

Source: SGGP

Vinamilk among best under-a-billion firms, Forbes Asia says

In Uncategorized on December 16, 2010 at 10:07 am

Vietnam’s biggest dairy maker Vinamilk was named for the first time ever as one of the best small-to-midsize performers in the Asia-Pacific region in the Forbes Asia’s “Best Under A Billion” list this year.

Shoppers picks Vinamilk’s products at a HCMC-based super market (Photo:

Vietnam Dairy Products, known as Vinamilk, which holds a one-third share of Vietnam’s US$1.5-billion dairy market, enjoyed a net profit jump of 67 percent to $90 million. Its revenues climbed by half to $389 million through the first half of 2010, Forbes reported.

The company listed on the Ho Chi Minh Stock Exchange with the coded name of VNM is expected to grow 25 percent this year.

“With revenues doubled and net profit up fourfold in the last four years, it is the most successful of the country’s privatized state-owned enterprises,” according to the September issue of Forbes Asia. In August, Vinamilk began construction on a $120 million dairy plant near Ho Chi Minh City that is expected to be the biggest in Southeast Asia.

“Vinamilk has been successful in the competition with foreign brands. It has created a very strong Vietnamese brand, a solid footing in the local market, and it has been able to tap into the rising demand for nutrition products,” Trinh Hoai Giang, chief operating official of HSC Securities, one of Vietnam’s three biggest brokerage houses, said in a report on Forbes’ website.

The annual “Best Under A Billion” list highlights 200 top-performing firms with revenues under $1 billion from nearly 13,000 publicly listed Asia-Pacific companies, based on earnings growth, sales growth, and shareholders’ return on equity.

Among 200 top-performing small-to-midsize enterprises in Asia this year are 71 Chinese, 39 Indian, 20 Korean and nine Thailand’s. “Technology firms, both hardware and software, keep making inroads into the 200, along with health-care-related entities,” Forbes said in a report on its website, adding 151 new firms appeared on this year’s list.

Source: SGGP

Spanish firms visit to scout investment opportunities

In Uncategorized on November 5, 2010 at 3:20 pm

Japan firms profit from emerging economy demand: report

In Uncategorized on October 31, 2010 at 11:11 am

Some private security firms to stay in Afghanistan

In Uncategorized on October 18, 2010 at 6:24 am

KABUL, Oct 18 (AFP) – The Afghan government rolled back its plan to disband all private security firms, declaring that those protecting embassies and military bases could maintain those operations in the country.

President Hamid Karzai’s office said firms “providing security for embassies, transport of diplomats, diplomatic residences, international forces’ bases and depots can continue operation within these limits”.

AFP file – Private security officers protect Afghan President Hamid Karzai (2nd L) during a visit to in Bagram Airfield in May 2010.

Karzai in August ordered that all private security contractors operating in the country, both Afghan and international, must cease operations by January 1, 2011, despite a continuing Taliban and Al-Qaeda insurgency.

The decree led to widespread concern that the deadline was too tight to find alternatives amid a deteriorating security situation, and fears that some diplomats and private companies would be forced to leave Afghanistan.

While the measure received widespread support in principle, diplomats, military officials and private security contractors have said Karzai’s government has been under intense pressure to reconsider the blanket ban.

In a brief statement Sunday, Karzai’s office said that “concerns expressed by NATO commanders and foreign embassies about the dissolution of private security companies” had been considered.

Firms not involved in military or diplomatic security would be dissolved as planned, it said.

“Other private security companies pose a serious threat to internal security and national sovereignty, and the dissolution process will continue with no exception,” the statement said.

Afghan officials have said that more than 50 private security firms, about half of them Afghan, employ tens of thousands of armed personnel across the country.

Following the collapse of the Taliban regime in a US-led invasion in 2001 private security firms rushed in to fill a vacuum created by a lack of adequately trained police and army forces.

In 2006 the Afghan authorities began registering, regulating and licensing the firms but there have been questions about the activities of some.

The companies provide security to the international forces, the Pentagon, the UN mission, aid and non-governmental organisations, embassies and Western media companies in Afghanistan.

The Afghan government earlier this month formally banned eight foreign private security firms, including Xe, the controversial company formerly called Blackwater.

Executives with private security firms have refused to speak publicly about the ban, but have said that visas for some employees have been cancelled as part of the dissolution process.

Some have also said that clients had expressed concerns about the ban, as the insurgency spreads across the country and foreign construction and aid contractors are targeted by the Taliban.

But Karzai has accused the security companies of running an “economic mafia” based around “corruption contracts” favoured by the international community.

He has said the firms duplicate the work of the Afghan security forces and divert much-needed resources, while Afghans criticise the private guards as overbearing and abusive, particularly on the country’s roads.

Critics have said the tight deadline would not allow enough time to negotiate an alternative to private contractors in a country were security is a priority and police are generally not trusted.

Karzai’s spokesman Waheed Omer said earlier this month that the ban would not immediately affect companies dealing with the training of national security forces or guards operating inside buildings to provide protection.

“The focus is on those security companies which are protecting the highways, protecting transport caravans — those areas other than the training of Afghan security forces or protecting the internal premises of international organisations or embassies, or others,” he said.

Omer said security had improved along some highways since the ban on private guards operating as escorts for supply convoys in those areas.

Xe, formerly Blackwater, gained notoriety in Iraq after guards protecting a convoy opened fire in a busy Baghdad square in September 2007, killing as many as 17 civilians.

Last month two former Blackwater security guards went on trial in the United States, accused of the murder of two Afghan citizens in a 2009 shooting.

Source: SGGP

Travel firms call for wharf to boost river tourism

In Uncategorized on July 28, 2010 at 7:20 pm

Travel firms call for wharf to boost river tourism

QĐND – Wednesday, July 28, 2010, 21:22 (GMT+7)

Ho Chi Minh City tourism authorities are considering a plan to develop river tourism between HCMC, the Mekong Delta, and Cambodia but travel companies first want them to build a wharf exclusively for tourism.

The city Department of Culture, Sports and Tourism is planning to do a survey on a new river tour from next month that will allow visitors to cruise from HCMC through the Mekong Delta province of An Giang to Cambodia.

The department sees considerable potential in this after surveying two intra-city routes from BachDangWharf to the Nha Be Confluence and Tau Hu Canal.

The tour operators hailed the proposal but pointed to the lack of a wharf for tourist boats.

There are 20 tourist boats, floating restaurants, and canoes operating from Bach Dang, which is not a tourist wharf, in District 1, Thoi Bao Kinh Te Sai Gon Online (Saigon Economic Times Online) reported.

They can dock there to pick up passengers but cannot anchor there for long due to the limited space.

The wharf also lacks tourist services and parking space for tourists’ vehicles.

Chiem Thanh Long, director of the BinhQuoiTouristVillage in Binh Thanh District, said his company had to cancel a plan to build a large floating restaurant due to the lack of docking space.

“I think the most important aspect of the river tourism development plan is to build a tourist wharf in the city,” he said.

Around 188,000 foreign travelers visited HCMC in July, the tourism low season, up 20 percent year on year but down by 12,000 from June, according to the department.

Source: tuoitrenews

Source: QDND

Foreign investors maximum of 30% of shares in telecom firms

In Uncategorized on July 1, 2010 at 10:26 am

Foreign investors maximum of 30% of shares in telecom firms

QĐND – Tuesday, June 29, 2010, 20:45 (GMT+7)

Foreign investors are permitted to invest in telecommunications services in Vietnam in both forms of direct and indirect investment, according to a draft decree to detail the Telecommunication Law.

The decree is being compiled by the Ministry of Information and Communication and will be submitted to the Government in August.

Particularly, the decree defines that foreign investors as telecommunications providers without telecommunications infrastructure networks are allowed to do business with Vietnamese telecoms with telecommunications infrastructure networks; and for foreign investors with telecommunications infrastructure networks, they must found a joint venture or/and cooperate with other already-licensed businesses in Vietnam.

The decree also points out that foreign investors can hold a maximum of 30 per cent of the registered capital in telecommunications joint ventures.

Projects costing over VND 2 trillion invested in by foreign investors with telecommunications infrastructure networks must be approved by the Prime Minister, while projects costing between VND 1 trillion and VND 2 trillion must be approved by the Ministry of Information and Communication, the decree stipulates.

Source: DDDN

Translated by Thu Nguyen  

Source: QDND

Firms focus on energy efficiency

In Uncategorized on May 29, 2010 at 5:18 pm

Firms focus on energy efficiency

QĐND – Saturday, May 29, 2010, 20:52 (GMT+7)

Enterprises should focus on advanced technologies to save energy and costs for themselves and the country, a seminar in Ha Noi heard yesterday, May 28.

The symposium on energy efficiency in manufacturing was held by the Ministry of Industry and Trade and the Energy Efficiency Centre.

Viet Nam faced an energy shortage which would be eased if enterprises and individuals were aware of the need to save energy, the seminar was told.

To raise the awareness, the Government had begun a national programme on energy efficiency, of which the seminar was part.

The ministry said that to generate US$1,000 GDP, Viet Nam must consume 600kg of oil equivalent, a unit of energy, one and a half times higher than that in Thailand and double the average rate of the world.

The energy consumption of Vietnamese manufacturing sector was also double or triple that of other nations in the region.

Schneider Electric Vietnam representative Do Manh Dung said: “The gap between energy supply and demand in Viet Nam tripled against a decade ago and the gap will continue to widen due to a sharp increase in demand.”

It was expected the demand on power would be 74 billion kWh while the supply would likely stay at about 64 billion kWh this year, he said.

Electricity prices in Viet Nam would increase amid rising demand and against the present low prices in comparison with other nations, he said.

“The Government had mapped out plans to invest $30 billion to generate an addition capacity of 33,200MW by 2015,” he said. “However, supply still failed to meet demand and energy saving was an indispensable and compulsory responsibility of enterprises.”

Dung pointed out four steps for energy efficiency in production: measuring and auditing energy consumption, using advanced technologies, applying automatic systems and maintaining management and consultancy on energy efficiency.

Ha Noi Technology University deputy rector Pham Hoang Luong said: “To manage energy saving effectively, the determination of CEOs plays a very important role and he or she must mobilise all workers to do it.”

Companies should also implement quality management, he said. These measures would help save energy, cut costs, reduce product prices and thus sharpen the competitive edge.

Luong said businesses should “boldly” renovate their technologies to improve quality and get higher sale prices.

Energy efficiency and cleaner production usually coincided, he said.

The Ministry of Industry and Trade had composed a draft decree to encourage manufacturers to use renewable energy.

However, the ministry’s science and technology department deputy director Vuong Hoang Kim said: “We have to go step by step because the cost of applying renewable energy was higher than the financial capacity of Vietnamese firms.”

The seminar was part of the international fair and exhibition on energy efficiency and environment at the Giang Vo exhibition centre, that will end tomorrow, May 30.

Source: VietNamNet/Viet Nam News

Source: QDND

Russian tour firms visit Binh Thuan

In Uncategorized on May 18, 2010 at 5:04 pm

Russian tour firms visit Binh Thuan

QĐND – Tuesday, May 18, 2010, 20:59 (GMT+7)

Fourteen tour companies from Novosibirsk, Russia, travelled to Vietnam recently to survey tourist destinations in Phan Thiet, central province of Binh Thuan.

The companies checked out the quality of accommodation in Phan Thiet to prepare for the 2010-11 travelling season, said chairman of the Binh Thuan tourism association, Nguyen Van Khoa.

Russian visitors currently account for 30 percent of all foreign tourists to Binh Thuan province. In the first four months of the year, 832,000 visitors enjoyed Binh Thuan, including 130,000 foreign visitors.

Source: VNA

Source: QDND

Firms offer staff free holidays to relieve stress, improve work

In Uncategorized on May 11, 2010 at 4:52 pm

Firms offer staff free holidays to relieve stress, improve work

QĐND – Tuesday, May 11, 2010, 22:32 (GMT+7)

Many businesses have started offering their employees free holiday tours as a bonus instead of giving them money.

Organising free holiday tours for staff aims to help employees relax and work more effectively. Holiday packages also help forge closer relationships between companies and their staff, experts said.

Travelling can help staff members deal with stress and work more effectively after they return from their vacation.

Besides, many companies also combine training courses with tour programmes. These training courses are usually made of short presentations made by experts to help staff acquire more soft skills.

In 2008, HCM City organised a tour to Singapore for the city’s hygiene workers, who had done exceptionally well at their jobs.

Pham Phuong Thao, chairwoman of the HCM City People’s Council, said that the tour to Singapore for hygiene staff reflects the city’s gratitude during the year of “making the city civilised”.

Sony Electronics Vietnam organised a tour to China for more than 200 employees. The leader of this company said that the tour helped the staff to not only relax, but also improved their professional knowledge about how to work with foreign experts.

Nguyen Cuong, director of the An An food frozen company at the Tan Tao Industrial Park, said that “instead of giving a bonus of 3 million VND (150 USD) to 48 workers, the company tries to spend a little more money to offer them a free tour to Singapore, which brings them a lot of joy and motivation with work.”

Most businesses usually offer both domestic and international tours for their staff, which primarily take place during the summer.

Source: VNA

Source: QDND