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Posts Tagged ‘good’

Blue chips on OTC market remain good investments

In Uncategorized on December 16, 2010 at 10:08 am

Despite most of shares on the official stock markets slumping, some on the over-the-counter market, known as OTC, remain bullish thanks to their healthy earning rate, brokers said.

Some blue chips with good earning reports remain at high prices on the OTC market, while most of shares on the official markets decline (Photo:Minh Tri)

Among winners on the OTC market are unlisted companies in retail sector, with a limited amount of issued shares.

The pillow maker Everpia Vietnam (EVE), known as Everon, made a high net profit of VND90 billion (US$4.5 million) from a revenue of VND490 billion in the first 11 months of the year. The profit is equal to 92.8 percent of 2010’s target.

Analysts expect the firm’s profit will likely to be more than VND100 billion ($5 million) thanks to a strong demand for cushions, blankets and pillows at yearend.

The Hanoi-based company will list more than 15 million shares at the starting price of VND55,000 per share on the Ho Chi Minh Stock Exchange on December 17th, according to a report on the bourse’s website.

Everon, which Korean investors hold more than 49 percent stake, is one of the biggest pillow maker in Vietnam with more than 25 percent market shares. The firm’s share price closed at VND43,330 on the OTC market with this year’s price-on-earnings ratio of 8x.

Another blue chip on the OTC market is the alcohol producer Halico, which earned around an after-tax profit of VND100 billion last year.

The Hanoi-based firm announced it would pay this year’s dividend rate of 94.33 percent, of which shareholders will get 10 percent in cash and the remainders in shares.

Halico made a net profit of VND87.45 billion ($4.4 million) from a revenue of VND594 billion in three quarters of the year. The liquor maker’s share price is VND81,430 with an earnings-per-share rate of VND4,372 for one share.

The firm’s listing plan on the Ho Chi Minh Stock Exchange this year was changed to next year as the stock market is gloomy.

The biggest fish source supplier Massan Food is exchanging hands at a high price of VND90,000 with low trading volume, brokers said.

The Noi Bai Cargo Terminal Service JSC (NCTS) remained unchanged at VND50,000 per share for many days as the firm announced it would raise the dividend rate this year to 100 percent from 75 percent.

The Hanoi-based company also raised its projected pretax profit by 37 percent to VND133.3 billion ($6.7 million) this year.

Trading on the OTC market remained quiet as investors are hesitate to sell shares with good earning reports, brokers said. “They are patiently waiting for a strong recovery on the market,” said a broker, who asked not to be named.

Source: SGGP

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.


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

Vietnam contributes to good relations between ASEAN and partners

In Uncategorized on October 30, 2010 at 2:10 pm

Vietnam contributes to good relations between ASEAN and partners

QĐND – Saturday, October 30, 2010, 20:57 (GMT+7)

State President Nguyen Minh Triet received leaders attending the 17th ASEAN Summit and related summits, including the East Asia Summit (EAS) in Hanoi on October 30.

He confirmed Vietnam has continued to strengthen bilateral and multilateral relations with countries in the region and the world, contributing to the development of good relations between ASEAN and its partners.

Vietnam hopes ASEAN’s partners will continue cooperating and assisting the region in carrying out its goal of building a successful ASEAN community, and support the bloc’s key role in regional forums, he noted.

Earlier, President Triet welcomed the President of the Republic of Korea (RoK) Lee Myung-bak, who was attending the 17th ASEAN Summit and related summits.

He applauded the Korean President for joining the events and affirmed that the relationship between Vietnam and the RoK is developing well, and the two sides should push for high-ranking visits to reinforce trust and bilateral cooperative opportunities.

Vietnam wants Korean businesses to increase investment in infrastructure, high technology and diplomacy to strengthen the relationship between the two countries, he said.        

President Triet highly appreciated the fact that President Lee Myung-bak paid attention to and dealt with the sad situations of some Vietnamese brides in Korea, and Vietnam wants both sides to exchange ideas to build a legal framework to protect Vietnamese brides in the RoK. He emphasised that coordination to resolve the situation recently demonstrated mutual trust, sharing and understanding.

The Korean President confirmed his visit to Vietnam last year had resolved many issues and helped the two countries overcome difficulties. He said the Korean people are very sad about the unfortunate events involving Vietnamese brides. The Korean Government has added regulations concerning this issue and the Korean people also increased their awareness and now pay more attention to the situation of foreign brides.

He said at present, there are 14 countries providing labourers to the RoK and Vietnam has the largest number, Korean businesses always want to use Vietnamese labourers because they are industrious and highly-skilled. He also said he believed that, as an intelligent and hard-working country, Vietnam will soon become one of the strongest in the South East Asian region.        

President Lee Myung-buk invited President Triet to visit the RoK and said he hopes the two countries will cooperate in international forums.

On the occasion, the Korean President informed the Vietnamese President that the RoK had finished procedures to prepare for importing dragon fruit, one of Korea’s favourite fruits, from Vietnam.

Source: VOV

Source: QDND

Stocks gain on good news

In Uncategorized on October 14, 2010 at 6:31 pm

Movements of VN-Index on September 28. (Photo: on the Ho Chi Minh Stock Exchange rose on September 28 as the amended Circular 13 promises to create better conditions for cash flow and stock markets.

The State Bank of Vietnam would continue to keep benchmark interest rate at 8 percent in October. In addition, Vietnam’s GDP exceeded a year’s goal for the first time, helped to brighten the economic picture.

VN-Index, which tracks 259 companies and five mutual funds, bounced 1.1 percent, or 4.93 points, to finish at 455.13 points, the highest level in the past five trading sessions.

Liquidity on the city bourse increased 5 percent in volume, and 10 percent in value over the previous day. Around 38.9 million shares changed hands at a value of VND1.05 trillion.

On the index, there were 150 winners. The number of losers was the same as the number of unmoved stocks at 57.

Saigon Thuong Tin Commercial Bank or Sacombank (STB) won the position of most active share by volume with 3.06 million shares changing hands.

Ocean Group Joint Stock Company (OGC) fell to the second rank with 2.68 million shares traded.

Petro Capital & Infrastructure Investment Joint Stock Company (PTL) came in next with 1.22 million shares.

Nari Hamico Minerals Joint Stock Company (KSS), which sprang 4.96 percent to VND36,000, was the biggest gainers.

Binh Thuan Hamico Mineral Joint Stock Company (KSA) and South Logistics Joint Stock Company (STG) both advanced 4.76 percent to VND55,000, and VND35,200 respectively.

From September 6 to 20, Saigon Thuong Tin Investment Co., major shareholder of South Logistics Joint Stock Company (STG), sold 386,000 shares, reducing its holdings to 386,619 shares, accounting for 4.63 percent of the company’s issued shares, to restructure its investment category.

Construction company Chuong Duong Corporation (CDC) climbed 4.73 percent to VND31,000.

Decliners included TMT Automobile Joint Stock Company (TMT), Viet Thang Aquafeed Joint Stock Company (VTF), and Saigon Fuel Company (SFC).

The smaller bourse in the north also edged up as the Hanoi’s HNX-Index added 0.24 points, or 0.18 percent, to 130.17 points. Trading volume on the northern floor jumped by 30 percent over the previous session as 34.6 million shares traded at VND981 billion.

The UPCoM-Index inched up 0.17 points to 47.13. The market of unlisted shares saw 0.25 million shares changing hands, worth VND4.2 billion, as of 11:15 am local time.

Source: SGGP

Good films grow from literary roots

In Uncategorized on August 3, 2010 at 11:18 am

Scripts are the bridge between literature and movies. Many famous literary works have been adapted into films, which have been become classics in the movie world. Vietnamese writers have made outstanding contributions in development of the film industry of the country.

Actor Ngoc Ngoan and singer Nhat Kim Anh take roles of poet Nguyen Du and Ms. Cam in the film Long Thanh cam gia ca.

Vietnamese well-known literary works have been turned into movies that have successfully attracted audiences. Examples include: Vo chong A Phu (Mr. and Mrs. A Phu) by To Hoai, Tat den (Blowing out the flame of oil lamp) by Ngo Tat To (adapted into the film Chi Dau – Mrs. Dau), Chi Pheo by Nam Cao (adapted into the film Lang Vu Dai Ngay Ay – Vu Dai Village in the Old Time), Chua Dan (Dan pagoda) by Nguyen Tuan and Tuong Ve Huu (Retired General) by Nguyen Huy Thiep and more.

Modern examples include Trang noi day gieng (Moon in the Bottom of the Well) by Tran Thuy Mai, Canh dong bat tan (The endless field) by Nguyen Ngoc Tu and others. Some of them have won local and international awards.

The Vietnam Television Film Production Center has adapted books Ma lang (The ghost of village) by Pham Ngoc Tien, Bi thu tinh uy (The provincial party committee secretary) by Van Thao into TV series.

“The scriptwriter must understand and identify with the novels’ content and characters deeply as well as be inspired by the books to turn them into films,” said scriptwriter Tran Thuy Mai.

Writer and director Van Le said that he was inspired profoundly by the great poet Nguyen Du’s poem titled Long Thanh cam gia ca (Song of string instrument player in Thang Long), which tells a story of tribulation experienced by a woman named Cam, adapting the poem into a film by the same name.

There are many writers whose works have been turned into movies, including Nguyen Quang Sang, Chu Lai, Nguyen Khac Phuc, To Nhuan Vy, Nguyen Nhat Anh, Nguyen Thi Minh Ngoc, Tram Huong, Vo Phi Hung and Nguyen Thu Phuong.

Some of them have become popular scriptwriters, such as Nguyen Manh Tuan, Nguyen Quang Lap and Van Le.

Insiders hope that this connection between literature and movies will create more and better Vietnamese film scripts.

Source: SGGP

Hanoi hosts Congress of Uncle Ho’s Good Children

In Uncategorized on July 20, 2010 at 3:15 pm

Hanoi hosts Congress of Uncle Ho’s Good Children

QĐND – Monday, July 19, 2010, 20:40 (GMT+7)

Nearly 400 representatives from the Ho Chi Minh Young Pioneer Organisation gathered in Hanoi’s Cultural Friendship Palace on July 18 for the 7th National Congress of Uncle Ho’s Good Children.

Present at the opening ceremony were Nguyen Phu Trong, Chairman of the National Assembly, Ha Thi Khiet, Head of the Party Central Committee’s Commission for Mass Mobilisation, and other Party and State leaders.

Addressing the Congress, NA Chairman Trong praised the achievements obtained by young people who are striving to follow Uncle Ho’s teachings.

Mr. Trong said hopes that they will study harder and become good citizens to contribute to the cause of national construction and defense aimed at making the country wealthier and stronger.

The NA Chairman also urged all Party and State agencies, organisations as well as teachers and parents to show a high sense of responsibility towards further protecting and educating the children, providing them with a better environment for entertainment and study, encouraging them to get involved in social activities and preventing child abuse. They should join efforts to build up the strength of the Ho Chi Minh Young Pioneer Organisation especially in remote and disadvantaged areas.

Nguyen Thi Kim Oanh, a Cadong ethnic minority pupil at Nguyen Du Secondary School in Bac Tra My District, Central Quang Nam Province, has been recognized as an excellent pupil  for seven successive years despite her disadvantaged circumstances. She said she felt excited and honoured to be one of the representatives to the Congress and she pledged to study better to deserve to be one of Uncle Ho’s Good Children, when visiting the late President’s Mausoleum.

Of the 400 representatives, 10 received badges and laurel wreaths from the NA Chairman and the Head of the Party Central Committee’s Commission for Mass Mobilisation.

Source: VOV



Source: QDND

Vietnam makes good impression at G20 Summit

In Uncategorized on July 1, 2010 at 10:18 am

Vietnam makes good impression at G20 Summit

QĐND – Wednesday, June 30, 2010, 21:3 (GMT+7)

This was the first time at the G20 Summit that Vietnam had the opportunity to share its opinions, initiatives and experiences and actively contribute to resolving global economic issues. Its viewpoints on regional and international affairs left a good impression on the participants.

Prime Minister Nguyen Tan Dung and the Vietnamese delegation left Toronto, Canada on June 29 after attending the G20 Summit at the invitation of Canadian Prime Minister Stephen Harper.

VOV reporter interviewed the Deputy Minister of Foreign Affairs, Doan Xuan Hung, about the outcomes of the G20 Summit, as well as Vietnam’s contributions.

VOV: Could you tell us about the most important issues discussed at the G20 Summit?

Mr Hung: This was the fourth time the G20 nations held a summit, with the first and the third taking place in Washington and Pittsburgh in the US and the second in London, UK. These three summits took place in the context of the global economic crisis, so leaders of the G20 countries focused their discussions on looking for solutions to help the world economy weather the storm.

This year’s G20 Summit was held at a time when the global economy was experiencing a downturn. But the participants in the summit discussed and agreed on effective measures to promote a sustainable economic recovery in a stronger and more balanced manner. The summit is the world’s prestigious and democratic forum to deal with global economic issues and boost international economic cooperation.

Developing countries have been striving to cushion themselves from the impact of the global economic downturn but their economic recovery is not strong enough to be sustainable, while most newly-emerging economies are bouncing back a steady growth rate to serve a key driving force behind the global economic recovery.

The G20 Summit focus on dealing with many challenges, such as the debt crisis in Europe and the high unemployment rate (8-9 percent) in some developed countries. A number of European nations emphasised the need for fiscal consolidation and the settling of debts to prevent another economic recession, while the US and some other countries suggested boosting economic recovery and generating jobs to clear debt.

The participants at the fourth G20 Summit reached a consensus on fiscal consolidation and stepping up a sustainable economic recovery in accordance with the different conditions in individual countries.

The Summit only concentrated on developed countries like the G8 but also paid attention to developing countries. It stressed the need to strengthen international cooperation with the Association of Southeast Asian Nations (ASEAN) and the Africa Union (AU).

The Summit identified promoting trade liberalisation, completing the Doha negotiations, narrowing the development gap, reforming international financial institutions and increasing the right of developing countries to vote, as the most important issues that need to be dealt with.

The Summit discussed openly and constructively how to address global economic issues and called for a united assessment to ensure a strong, sustainable and balanced growth in the world economy.

VOV: What did the Vietnamese delegation contribute to the G20 summit?

Mr Hung: This was the second time that ASEAN countries had been invited to take part as a guest.

After consulting with other ASEAN member countries, Vietnam presented ASEAN’s viewpoints on the main topics at the G20 summit, such as global economic development. The ASEAN Secretary General said such presentation was highly praised by several member countries as realistic.

During the meetings between the deputy ministers and ministers of finance and foreign affairs, Vietnam consistently put forward ASEAN’s viewpoints and pursued benefits for developing countries.

Prime Minister Nguyen Tan Dung also took part in discussions on global issues. He highlighted the G20’s efforts to deal with issues related to the global economy to promote its sustainable growth and development. He also praised various frameworks that the G20 approved in Pittsburgh last year and measures for this year.

In addition, PM Dung highlighted issues that the G20 should pay more attention to countries that apply for fiscal support on the basis of friendly growth, which does not cause a negative effect on capital inflows from the developed to developing countries, and emerging countries, including ODA.

He emphasized the need for co-operation between blocs, and called for an early end to the Doha round of negotiations.

PM Dung initiated a co-operation mechanism between ASEAN and the G20 to stimulate global economy and discussed ways of ending the Doha negotiations as soon as the G20 has seemingly come to a standstill on the issue.

VOV: What do you think of Vietnam’s first participation in a major forum like the G20 to discuss global economic issues?

Mr Hung: I am very happy to say that Vietnam has been praised by our international friends. Although Vietnam is only a small economy, its track record as well as its role in ASEAN have been highlighted. The leaders of many countries met with PM Dung and expressed their wishes to forge closer ties with Vietnam.

In addition to joining the world’s leading countries to discuss measures to deal with global economic issues, Vietnam represented developing countries to have a say in many issues of common concern.

The G20 provided an excellent chance for Vietnam to raise its image and prestige and strengthen its relationship with other countries. On the sidelines of the summit, PM Dung also met with dozens of world leaders, including the US, China, Russia and the EU.

VOV: Thank you very much.

Source: VOV


Source: QDND

Yuan gains good for some, bad for others

In Uncategorized on June 23, 2010 at 12:35 pm

China’s central bank dropped its US dollar central parity rate to its lowest point in five years on June 22, making clear its commitment to flexible currency policies. 

A teller counts yuan banknotes at a China Merchants Bank branch in Ganzhou, Jiangxi Province, June 21, 2010 (Photo: Reuters)

The move to 6.7980 yuan per dollar from 6.8275 yuan the previous day, a change of 0.43 percent, is likely to benefit some sectors, while acting as a detriment to others.
Economists said that a strong yuan will affect global economies with imports into China becoming cheaper and higher import demand expected in the country.
Chinese domestic consumption would be the biggest beneficiary of the move, said strategists at Deutsche Bank.
Chinese airlines including Air China and China Eastern Airlines will benefit from a stronger yuan since a large portion of their debt accrued buying airplanes and importing fuel is denominated in US dollars.
According to the bank’s estimation, every one percent rise in the yuan will boost Air China’s 2010 net profit by around 10 percent and China Eastern’s by 15 percent.
In addition to airlines, other winners from a yuan appreciation are car makers such as Volkswagen and BMW, luxury goods, consumer goods and technology traders.
Vietnam trade imbalance with China might fall
Dr. Ho Dieu, deputy principal of Ho Chi Minh City University of Economics, said the yuan gain will affect bilateral trade of the two countries, but Vietnam’s US dollar central parity rate will remain unchanged.
Like other countries, Vietnam’s trade with China will benefit from the move as Vietnam’s exports to China will increase while trade gap will reduce.
But Dr. Tran Hoang Ngan, member of the National Advisory Council for Financial and Monetary Policies, said that while imports of Chinese consumer goods into Vietnam will drop, that doesn’t mean that the trade gap will fall.
Dr. Ngan explained that the value of imports from China might rise if the imports are essential goods whose prices will rise.
Heads of some commercial banks said that yuan appreciation against the US dollar will prompt more pressure on Vietnam to adjustment the dong-US dollar rate.
In addition, they said Chinese goods will become more expensive so the country will face export difficulties, and in result, the volume of Chinese goods exported illegally into Vietnam will rise.
A Vietnamese economist said the Chinese central bank’s announcement that it would allow its currency to gradually move against the U.S. dollar will raise demands for gold by investors.
According to the World Gold Council, central banks have continuously increased gold reserves in recently, doubling reserves over the first quarter.
The world gold price dropped to USD12,237 per ounce at 14:30 on June 22, a decrease of US$29 over the last session.
On the same day, the buying price of domestic gold went down to VND28.29 million per tael, a fall of VND400,000 per tael compared to a day ago.
Vietnam’s stock indexes fell too, with the VN-Index closing at 512.63, down 2.12 points, and HNX-Index falling by 2.09 points to 161.92.

US dollar-yuan exchange rates:
– July 2005:       US$1 = 8.1080 yuan
– July 2006:       US$1 = 7.9732 yuan
– July 2007:       US$1 = 7.5737 yuan
– July 2008:       US$1 = 9.8388 yuan
– July 2009:      US$1 = 6.8323 yuan
– June 2010:     US$1 = 6.7980 yuan

Source: SGGP

We need more good songs about Hanoi

In Uncategorized on June 18, 2010 at 12:23 pm

There hasn’t been a good song written about Hanoi in years, some might say even decades.

Few places have as many songs written about them as Hanoi

There haven’t been any good songs about the capital that can win hearts of music lovers throughout the country for tens of years, many musicians conceded.

Hanoi has always been an indispensable subject for many generations of poets, writers and musicians nationwide.

Huynh Van Nghe, Nguyen Dinh Thi, Trinh Cong Son, Phu Quang, Pham Duy, Hoang Duong, Pham Tuyen, Hoang Hiep, Pho Duc Phuong, Hong Dang, Nguyen Cuong, and Duong Thu all penned famous poetry, lyrics and prose about Hanoi.

Few places have as many songs written about them as Hanoi, Vietnam’s capital for a thousands years, and the cultural centre of Vietnam, where each successive dynasty has left behind its footprints.

But modern singers have been unable to capture the charm and flair of our undying capital in their new pop tunes.

Although the capital is now more modern and living standards have improved, the city lacks good songs written about it. The capital’s cultural values are more important than every, but are less treasured than in the past, thanks to rapid development and rampant commercialization.

Art and creativity quietly depend on artists who must perceive the lives and changes of society to create their works.

So our artists and people have the responsibility to create a healthy and clear environment to arouse the emotional music that will make the capital shine from its birthday on into the future.

Hanoi’s 1,000th anniversary will be celebrates this October. Will we not have any songs?

Source: SGGP

Buddhist Cultural Week to spread the good word

In Uncategorized on May 4, 2010 at 4:30 am

Buddhist Cultural Week aims to spread awareness of the country’s largest religion with a series of exhibitions and seminars on literature, history and culture at the Lieu Quan Buddhist Cultural Center in central Vietnam.

Lieu Quan Buddhist Cultural Center, Le Loi street, Central province of Thua Thien- Hue.

Many notable scholars, researchers and cultural activists from Vietnam and abroad will speak at the event in the central province of Thua Thien-Hue May 16-22.

Scholars including Cao Huy Thuan, Tran Dinh Son, Thai Kim Lan and Ho Tan Phan will talk on subjects Buddhist philosophy and practice.

The cultural week also aims to celebrate the 1,000th anniversary of Thang Long – Hanoi.

The Thang Long antique exhibition will feature over 100 exhibits on the Ly and Le dynasties. The artifacts on display were collected by antique collector Tran Dinh Son.

Seminars on art, architecture and education will also be a part of the event.

Source: SGGP