Black friday when 2019

Hanoi (VNA) - Despite the impact of COVID-19, the Hoa Phat Group still recorded a surge in both revenue and profit in 2020, the inter-sectoral conglomerate has said. It earned almost 91.28 trillion VND (3.9 billion USD) in revenue and posted 13.5 trillion VND in after-tax profit last year, up 41 percent and 80 percent, respectively, against 2019. In the fourth quarter alone, its revenue rose 43 percent year-on-year to nearly 26.17 trillion VND, while after-tax profit surged 142 percent to 4.67 trillion VND - a quarterly record. Steel manufacturing was a growth driver, the group said, adding that crude steel output doubled the 2019 figure, to 5.8 million tonnes, including 5.1 million tonnes of steel billet and finished construction steel and nearly 700,000 tonnes of hot rolled steel. In particular, 3.4 million tonnes of finished construction steel were produced, up 22.5 percent against 2019. Hoa Phat’s steel market share in Vietnam currently stands at 32.5 percent. The group … [Read more...] about Hoa Phat Group posts 80 pct. growth in after-tax profit

Hanoi (VNS/VNA) - The increase in Vietnam's stock market has helped foreign shareholders implement their disinvestment plans in Vietnamese enterprises. However, these activities will not have a significant effect on companies' internal systems.  Foreign shareholders play important roles in supporting business activities and creating a good image for public listed companies. After achieving initial cooperative targets, some organisations plan to disinvest.  Vietnamese companies witnessed the withdrawal of many foreign investors, but their businesses are still growing due to accumulative management skills during the cooperation period. Lucerne Enterprise Ltd and NS Advisory Inc Pte.Ltd of Nikko Indonesia sold millions of Licogi 16 (LCG) shares at the end of 2020. The Indonesian shareholders started to invest in LCG in 2014.  The LCG shares price ended last Friday at 14,750 VND, up 96.4 percent year-on-year. The share price almost hit a … [Read more...] about Vietnamese firms thrive despite divestment of foreign shareholders

Hanoi (VNA) - Myanmar earned over 2.02 billion USD from the export of finished industrial goods over the first three months of the present fiscal year (FY) 2020-2021 which started in October. As of January 15, the finished industrial goods or manufacturing goods sector topped the list with the most export value, followed by agriculture and mineral sectors among others, Xinhua news agency quoted Myanmar’s Commerce Industry as saying. This year FY's figures decreased by over 1.03 billion USD, compared to the same period of FY 2019-2020 when it registered over 3.05 billion USD. During the period, the country's export totaled over 4.3 billion USD while its import shared over 4.56 billion USD, resulting in a trade surplus of 230 million USD. Myanmar mainly exports agricultural products, animal products, marine products, minerals, forest products, manufacturing goods and others to foreign trade partner countries. About 80 percent of the country's external trade is done through … [Read more...] about Myanmar earns over 2 bln USD from industrial exports

Hanoi (VNS/VNA) - Up to 205 local traders nationwide were permitted to export rice as of January 18, following a list released by the Ministry of Industry and Trade’s Agency of Foreign Trade.   Per the list, the Mekong Delta City of Can Tho saw the highest number of licensed rice exporters at 43. Ho Chi Minh City ranked second with 38 eligible rice exporters, followed by the southern provinces of Long An, An Giang and Dong Thap at 25, 20 and 18, respectively. Other localities with licensed rice exporters were Tien Giang and Hanoi with eight, Nghe An with seven, and Kien Giang and Vinh Long at six.  Meanwhile, other localities had only one permitted rice exporter, such as Dak Nong, Tra Vinh, Tay Ninh, Binh Dinh, Binh Duong, Ha Tinh, Nam Dinh and Ninh Binh.  Despite a modest decline of 3.5 percent in export volume to 6.15 million tonnes mainly due to the Government's efforts to ensure national food … [Read more...] about Total of 205 traders allowed to export rice

HCM City (VNS/VNA) - Vietnam’s imports of high-value seafood such as king crabs and lobsters are rising due to their falling prices, and are expected to rise even further during the Lunar New Year (Tet) Festival, experts have said. Robert Greenan, Deputy Consul General at the US Consulate in Ho Chi Minh City, said last year exports of Alaskan seafood rose 125 percent to 19 million USD. Vietnam became the US’s sixth largest buyer of agricultural products and foodstuffs with imports worth 4 billion USD. According to the Alaska Seafood Marketing Institute in Vietnam, demand for seafood is rising in the country, and several processing factories are moving from China to Vietnam due to tariffs. Alaskan seafood is mostly bought by restaurants and hotels and processors. The institute aims to expand the distribution network so that more customers can buy Alaskan seafood for cooking at home. During Tet, there is especially high demand for Alaskan king crab since it is relatively … [Read more...] about Demand for imported high-value seafood rises