SINGAPORE - Media OutReach - 14 November 2019 - CIMB Bank Berhad, Singapore branch ("CIMB") today announced its collaboration with SESAMi Holding and Capital Match, to finance the SESAMi trading community's invoices digitally under an automated workflow. Photo: From left to right - Mr Sharath Singh, Commercial Director of Capital Match; Mr Ong Teck Soon, Chairman and Group CEO of SESAMi Holding; Mr Victor Lee, Deputy CEO of CIMB Singapore and CEO of CIMB Group Commercial Banking; Ms Lai Ven Li, Head of Corporate Banking of CIMB Singapore; Mr Desmond Loh, Co-Head of Transaction Banking of CIMB SingaporeSESAMi Holding, an e-procurement platform in Singapore serving the supply chain needs for customers like Singtel, SATS, SIA, SRC and more, acquired Capital Match, an invoice financing marketplace with operations in Singapore and Hong Kong. Mr Ong Teck Soon, Chairman and Group CEO of SESAMi Holding said, "SESAMi's integrated procure-to-pay and supply chain … [Read more...] about CIMB Bank Singapore Partners SESAMi-Capital Match to Bring Cost-effective E-supply Chain Financing Solutions to the Supplier Community
Hefty investments Among 70 countries and territories in which Vietnamese have investments, Laos, Cambodia and Myanmar are the three biggest target markets. Laos is the biggest FDI recipient from Vietnam, having accepted $5 billion worth of registered investments. In January 2017, Viettel received an investment license for setting up a telecom network in Myanmar – Mytel. BIDV in 2016 got a license to set up a branch in Myanmar – BIDV Yangon with charter capital of $85 million. The dairy factory Vinamilk built in Cambodia became operational in 2016, while the Vietnam Rubber Group began processing rubber latex in 2015. Hoang Anh Gia Lai Group is one of the biggest outward investors. In addition to a series of projects on agriculture production in Laos, in 2015 built the Attapeu international airport worth $36 million and HAGL Center worth $550 million in Myanmar. In 2016, it kicked off the second phase of HAGL Center and joined forces with Melia Hotel to run a … [Read more...] about How are Vietnamese businesses performing in Laos, Cambodia, Myanmar?
Other News Power crunch threatens Vietnam The Saigon Times Daily Wednesday, Nov 13, 2019,19:25 (GMT+7) Power crunch threatens Vietnam The Saigon Times Daily Electricity workers inspect transformers in the northern province of Phu Tho. The Government is scrambling to head off an impending energy crunch that threatens to bring blackouts within this and next year – PHOTO: VNA HCMC – The country, especially in the southwest region, is at risk of an electricity shortage this year and next, stated Minister of Industry and Trade Tran Tuan Anh at a meeting on November 11. The situation will not improve until 2022-2023 as the country is facing a shortage of investment in power generation and transmission. The ministry noted in a report to the Government and the National Assembly that extreme weather has caused prolonged droughts for many localities across the country, reducing water flow to hydropower reservoirs. … [Read more...] about Power crunch threatens Vietnam
Defence Minister Ngo Xuan Lich (Photo: VNA) The victory of the southwest border defence war has provided valuable lessons for Vietnam in the cause of national sovereignty protection, Defence Minister Ngo Xuan Lich affirmed in an article published by Nhan Dan newspaper on January 7. The defence minister, who is also a member of the Party Central Committee’s Politburo and Deputy Secretary of the Central Military Commission, recalled that after the victory of the national liberation war against the US, the people of both Vietnam and Cambodia shared the aspiration for a life in peace, independence and freedom so as to heal the wounds of war and build a prosperous country. But immediately after taking power in April 1975, the Pol Pot regime betrayed the Cambodian people and the national interest, and undertook a series of reactionary, aggressive and extremely brutal policies. In the country, the Pol Pot regime stripped the people of their rights to freedom and democracy, … [Read more...] about Border defence war provides lessons for national sovereignty safeguard
Chairman of the Hanoi People’s Committee Nguyen Duc Chung (centre) visits the expansion site of Claridges Hotel in London, the UK, on November 11 (Photo: VNA) Hanoi (VNA) – A delegation of the Hanoi People’s Committee led by its Chairman Nguyen Duc Chung paid working visits to Israel and the UK from November 4-13 to seek ways to enhance cooperation between the Vietnamese capital and the two countries’ cities, partners and businesses. During their trip to Israel, the delegation had a meeting with Tel Aviv Mayor Ron Huldai. The two sides shared experience and discussed the possibility of cooperation in the fields of startup, innovation and technology for smart city building. Huldai said the Tel Aviv administration is ready to work with Hanoi and other Vietnamese localities to share experience in smart city building, investment, trade, tourism, urban management, technology transfer, agriculture and hi-tech healthcare, thus helping to bolster relations between … [Read more...] about Hanoi seeks to strengthen ties with Israeli, British partners