Illustrative image (Photo: VNA) Hanoi (VNS/VNA) - Bond issuance is becoming a popular channel for firms to raise capital for its efficiency and convenience. In the first six months of 2019, listed companies on the Ho Chi Minh Stock Exchange (HOSE) raised more than 19 trillion VND (812 million USD) via share issuance, up 17.2 percent compared to 2018. But this only met part of the capital demand as both listed and unlisted firms had to mobilise a total of 90 trillion VND through bond issuance in the first six months, up 34 percent compared to the same period last year. Most of enterprises approved to list on the stock market wish to raise capital from share issuance to reduce the dependence on bank loans, but in fact they seem to still find it hard to mobilise long-term capital. An Phat Securities Joint Stock Company (APG) in 2019 plans to increase its chartered capital from more than 340 billion VND to 1 trillion VND. Under the initial plan, the company will issue shares to pay … [Read more...] about Corporate bonds effective tool to raise capital
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BASF donates playgrounds to benefit over 12,000 children
In celebration of its 25 years in Vietnam, BASF is launching an initiative with social enterprise Think Playgrounds to donate four public playgrounds to the children and local communities. BASF today handed over the first playground in Ho Chi Minh City's Go Vap district BASF today handed over a 300 square metre playground in Ho Chi Minh City’s Go Vap district. In total, the initiative will provide over 12,000 children with a more appealing and safe learning environment. The four high-quality playground facilities are designed to promote a sense of exploration, inspire creativity, and develop different skills among the kids. The playground facilities at Provincial Pediatric Hospital, Yen Bai province were completed in July, benefitting over 10,000 children. Meanwhile, another playground in Ward 15, Go Vap district will be completed in August, benefitting 300 kids, including 20 with special needs. The playground in Hiep Phuoc commune, Nha Be district will also be in … [Read more...] about BASF donates playgrounds to benefit over 12,000 children
ICT giant CMC Corporation launches new open ecosystem, eyeing knowledge and data sharing to boost digital economy
Technicians at CMC Corporation's data centre. Photo CMC HÀ NỘI The telecoms and IT giant CMC Corporation on Tuesday (April 9) launched the open ecosystem for enterprise (C.OPE2N) – the first of its kind in Việt Nam – to help foster a digital economy and a “Vietnam 4.0”. The new open ecosystem will offer a wide range of services and benefits for Government agencies, enterprises and organisations in order to share and connect knowledge among Vietnamese people in the era of digital transformation. Digital transformation is a process that occurs in each different sector and industry based on their scale and operation structure. This process generates data packages that have a variety of content, volume and security. In the era of Industry 4.0, all enterprises are aware that data is their most important asset and that it must be used and shared carefully and efficiently. In the last 10 years, the world’s top tech giants such as … [Read more...] about ICT giant CMC Corporation launches new open ecosystem, eyeing knowledge and data sharing to boost digital economy
Gov’t agencies blamed for lack of corporate transparency
The slow listing of post-equitisation firms, including State-owned enterprises (SOEs), may make Vietnamese firms less attractive regarding a lack of corporate transparency and government agencies managing those firms must be blamed for the problem.— Photo vov.vn The slow listing of post-equitisation firms, including State-owned enterprises (SOEs), may make Vietnamese firms less attractive regarding a lack of corporate transparency and government agencies managing those firms must be blamed for the problem. According to the State Securities Commission (SSC), there were 413 companies that had not traded their shares on the stock market as of the end of 2018. Of the total, 195 companies are not equitised SOEs, namely Sai Gon-Ha Noi Insurance Corporation, Vietnam National Aviation Insurance Corporation, Petrolimex Group Commercial Joint Stock Bank and Viet Nam Thuong Tin Commercial Joint Stock Bank. The remaining number (218 companies) are post-equitisation SOEs such as Transport … [Read more...] about Gov’t agencies blamed for lack of corporate transparency
HSC named among top 3 public listed companies in Vietnam in 2018
The Ho Chi Minh City Securities Corporation has just been honoured as one of the top three public listed companies in Vietnam, and also the only securities company in Vietnam to win this award. HSC has been chosen as one of the top three public listed companies in Vietnam in 2018 The company (HSC) scooped up the noble title at the second ASEAN Corporate Governance Awards Ceremony (ACGA) held in Malaysia by ASEAN Capital Markets Forum (ACMF). The significant event welcomed Finance Minister of Malaysia Yang Berhormat Tuan Lim Gian Eng as well as leading securities firms and experts from across Southeast Asia. The ACGA 2018 assessed attending companies based on the ASEAN Corporate Governance Scorecard (ACGS) that has five areas: rights of shareholders, equitable treatment of shareholders, role of stakeholders, disclosure and transparency, and responsibility of the board. The ACGS was set up in accordance with international standards, therefore, its appraisement process is … [Read more...] about HSC named among top 3 public listed companies in Vietnam in 2018
BIDV launches e banking service for corporate clients
Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has just launched its BIDV iBank, a modern electronic banking service for corporate clients. BIDV iBank is an e-banking product operating on a multi-channel platform including web and mobile devices for corporate clients, financial institutions, and other credit institutions. With BIDV iBank, clients can conduct many types of banking transactions. BIDV iBank will greatly benefit corporate clients The transactions include making deposits and loans, and guarantee account queries; performing domestic and international money transfers and salary payments; and sending documents with a digital signature through the programme for processing with the same legal value as the original document. Besides, the transactions also include querying information for merchants; effectively managing cash flows between main and subsidiary accounts; viewing transaction summaries and checking transaction status by time and … [Read more...] about BIDV launches e banking service for corporate clients
Green card clampdown planned for US immigrants on benefits
United States immigrants who get public benefits like food stamps or housing vouchers could be denied green cards, under a new proposal from President Donald Trump's administration. The Department of Homeland Security (DHS) said that under the proposed rule change, being a current or previous receipient of certain public aid would be seen as a "heavily weighed negative factor". (Photo: AFP/Paul J Richards) Trump came to power pledging to make immigration to the United States more difficult, and reduce the number of people allowed to stay in the country. The Department of Homeland Security (DHS) said Saturday (Sep 22) that under the proposed rule change, being a current or previous recipient of certain public aid would be seen as a "heavily weighed negative factor" in considering an application for lawful permanent residency. "This proposed rule will implement a law passed by Congress intended to promote immigrant self-sufficiency and protect finite resources by ensuring that … [Read more...] about Green card clampdown planned for US immigrants on benefits
HCM City pilots rental of public vehicles
Le Thanh Khoa, director of the HCM City Voluntary Youth Public Benefit Service Company (BESCO), said the company had begun receiving public cars and drivers from agencies for rent to State units. Pham Khanh Phong Lan, head of the HCM City Food Safety Management Board, said the board was ready to rent public vehicles to the agency’s head and deputy heads. The two public cars previously managed by the agency will be handed over to the authorities or auctioned, she said. The rental price is 11,000 VND per km (based on the current average price of taxi companies) or 19.8 million VND per month per car, according Le Ngoc Thuy Trang, Deputy Director of the Department of Finance. Trang said the rental price was carefully calculated by the Department of Finance, ensuring more savings for the budget. According to Trang, public vehicles used by the units will be sold or transferred to BESCO. The driver of the units will be laid off and those who wish to continue their work … [Read more...] about HCM City pilots rental of public vehicles
City pilots rental of public vehicles
Viet Nam News HCM CITY — A HCM City pilot car rental service for Government officials that began on May 1 is expected to save more than VNĐ100 million (US$4,404) per month for the State budget. Lê Thành Khoa, director of the HCM City Voluntary Youth Public Benefit Service Company (BESCO), said the company had begun receiving public cars and drivers from agencies for rent to State units. Phạm Khánh Phong Lan, head of the HCM City Food Safety Management Board, said the board was ready to rent public vehicles to the agency’s head and deputy heads. The two public cars previously managed by the agency will be handed over to the authorities or auctioned, she said. The rental price is VNĐ11,000 per km (based on the current average price of taxi companies) or VNĐ19.8 million per month per car, according Lê Ngọc Thùy Trang, deputy director of the Department of Finance. Trang said the rental price was carefully … [Read more...] about City pilots rental of public vehicles
HCM City to pilot public car rentals
Ho Chi Minh City plans to run a pilot car rental service for Government officials to reduce expenditures, according to Vo Van Hoan, spokesperson for the municipal People’s Committee. HCM City will pilot public car rentals The city will transfer all public cars to the Voluntary Youth Public Benefit Service Company (BESCO) for management and rental.The pilot will begin in five State agencies and units, including the city People’s Committee Office, Department of Finance, People’s Committees of Binh Thanh and Binh Chanh districts, and the city’s Food Safety Management Board.Public vehicles with their drivers, escorts and security forces will be transferred to the company, and then departments, districts, and suburbs will rent cars and drivers.Two cars will be arranged for each unit under a Government decision on the management and use of cars in State agencies and units.The agencies and units must sign monthly car rental contracts … [Read more...] about HCM City to pilot public car rentals