The country’s share of regional venture capital funding devoted to fintech soared from just 0.4 percent in 2018, according to a report prepared by the United Overseas Bank (UOB), PwC and the Singapore Fintech Association (SFA). Singapore remained the top destination for regional fintech investment, with 51 percent, down from 53 percent in 2018, with Indonesia in third place with 12 percent, down from 37 percent last year. By the end of the third quarter this year, ASEAN had received $1.14 billion in funding for fintech firms, up sharply from $35 million in 2014, the report said. The surge in investments in Vietnam this year is attributable to two large deals, both in digital payments. In July, digital payment firm VNpay received $300 million in investment from Japanese multinational conglomerate SoftBank and Singaporean sovereign wealth fund GIC. And in January, e-payment app MOMO Pay landed $100 million from investors led by American private equity firm Warburg … [Read more...] about Vietnam second among ASEAN members in attracting fintech funding
Enterprise investment scheme funds
Demand for investment capital at the Vietnam Oil and Gas Group (PVN) and its member units for 2018-20 was estimated to reach VND620 trillion (US$26.7 billion), PetroVietnam Securities Inc (PSI) recently announced. Workers at PetroVietnam carry out technical checks. Fitch Ratings last month assigned PVN first-time long-term foreign-currency issuer default rating (IDR) at 'BB' with a positive outlook. According to Bui Huy Long, deputy general director of PetroVietnam Securities Inc, of the VND620 trillion, loans accounted for more than 30 per cent through traditional credit and bond issuances. Urgent projects such as Thai Binh 2 Thermal Power Plant, Long Phu 1 Thermal Power Plant, Block B-O Mon Gas Project, Blue Whale Gas Project and Sao Vang – Dai Nguyet Gas Project, would require $4 billion, Long said. Fitch Ratings last month assigned PVN first-time long-term foreign-currency issuer default rating (IDR) at 'BB' with a positive outlook. This was a positive credit rating … [Read more...] about PetroVietnam in need of investment capital
Thai groups have invested in many business fields in Vietnam, from goods production to retail. The takeover of Sabeco, the brewer, and Binh Minh Plastics are two of the recent biggest deals made by Thai investors. Sabeco brings big money to Thai billionaire A report released on September 30 showed that Thaibev is holding 53.58 percent of Sabeco’s shares. Sabeco became the major driving force for Thaibev’s growth in the fiscal year commencing in October 2018 and ending in September 2019. The Thai group reported sharp growth rates in revenue (16 percent) and profit (33 percent). Sabeco’s sales increased by 44 percent, making an important contribution to Thaibev’s business performance. If not counting Sabeco’s achievements, the international beer sales will decrease compared with the same period last year because of weakening activities in ASEAN. Binh Minh Plastics prospers Kim Chi Heineken sells 5.2 million Sabeco's stocks Heineken is … [Read more...] about How do enterprises perform after they are bought by Thai firms?
The capital resources at the billion-dollar casino project of KN Cam Ranh Regarding the charter capital, according to the project contents in Decision No.2539/QD-UBND of the Khanh Hoa People's Committee, KN Cam Ranh has a charter capital of VND790 billion ($34.35 million, according to the first modified business registration certificate on January 26, 2016). Since then, the company has increased its charter capital five times to VND7 trillion ($304.35 million, according to the 5th change in January 2018). Long Thanh Golf Investment and Trading JSC contributed VND6.3 trillion ($273.9 million – 90 per cent) and Le Van Kiem contributed VND700 billion ($30.43 million – 10 per cent). According to the Ministry of Planning and Investment's evaluation of KN Cam Ranh Co., Ltd.'s financial capacity prior to land allocation, the company has registered to increase capital contribution by other parties from VND780 billion ($33.91 million) of the VND6.95 trillion ($302.39 million) to … [Read more...] about Capital resources at billion-dollar casino project of KN Cam Ranh
Deputy Prime Minister Vu Duc Dam speaking at the opening ceremony of TechFest TechFest is the biggest annual event for the startup community, organised in accordance with the scheme on supporting the national innovative startup ecosystem to 2025, which was approved by the prime minister in 2016. During the past four years, the annual TechFest events have covered numerous economic sectors, uncovering opportunities and unclogging bottlenecks. Themed “Vietnam: Globalise”, TechFest 2019 aimed to attract resources, manpower, technology, and finance to support Vietnamese startups and to become a platform connecting the Vietnamese startup ecosystem with that of the world. Techfest 2019 has drawn the participation of over 300 businesses and startups, 100 ventures and investors, as well as 200 speakers and experts to attend until November 6, with activities such as a startup exhibition, technology showcase, investor and startup matching, and startup contests. Full of praise for … [Read more...] about TechFest to unlock potential of startups