FE Credit seen scoring a “hat-trick” of solid growth over three years The overall consumer credit market slowdown in 2018 could have led FE Credit to achieve slower growth but the consumer finance company expects to conclude the year with upbeat results, whilst preparing for a gentler pace (in percentage terms), but more sustainable growth in the years ahead. A maturing market Whilst its 2018 annual report has not yet been officially released, the largest consumer finance firm in terms of market share in Vietnam has revealed a number of indicators showing its solid performance for the year. FE Credit has been able to maintain its thrust in credit disbursals over the course of the year on the same pace recorded in prior years. According to Kalidas Ghose, FE Credit Vice Chairman and CEO, the company disbursed an average of VND4.5 trillion (US$195million) in credit per month till September. The figure then grew by double digit per month during the last quarter, with the … [Read more...] about FE Credit seen scoring a “hat-trick” of solid growth over three years
Fiscal year 2018
FE Credit scores hat trick of solid growth over three years
FE Credit expects hat-trick of solid growth over three years A maturing market Whilst its 2018 annual report has not yet been officially released, the largest consumer finance firm in terms of market share in Vietnam has revealed a number of indicators showing its overall performance for the year. Accordingly, FE Credit has been able to maintain its thrust in credit disbursal over the course of the year on the same pace recorded in prior years. According to Kalidas Ghose, CEO and vice chairman at FE Credit, the company disbursed an average of VND4.5 trillion ($195.7 million) in credit per month till September. The figure has then growing at a double-digit rate per month during the last quarter, with the month of December seeing a record high of 50 per cent hike in credit disbursals. “Such an increase in disbursals of more than 50 per cent in three months is a rare occurrence in a volume-driven retail business consisting of small ticket loans like consumer finance,” … [Read more...] about FE Credit scores hat trick of solid growth over three years
FE Credit expects hat trick of solid growth over three years
CEO and vice chairman of FE Credit, Kalidas Ghose, explained the institution’s performance in 2018 A maturing market Whilst its 2018 annual report has not yet been officially released, the largest consumer finance firm in terms of market share in Vietnam has revealed a number of indicators showing its overall performance for the year. Accordingly, FE Credit has been able to maintain its thrust in credit disbursal over the course of the year on the same pace recorded in prior years. According to Kalidas Ghose, CEO and vice chairman at FE Credit, the company disbursed an average of VND4.5 trillion ($195.7 million) in credit per month till September. The figure has then growing at a double-digit rate per month during the last quarter, with the month of December seeing a record high of 50 per cent hike in credit disbursals. “Such an increase in disbursals of more than 50 per cent in three months is a rare occurrence in a volume-driven retail business consisting of small … [Read more...] about FE Credit expects hat trick of solid growth over three years
Welcoming 2019: PV GAS fulfills yearly production targets 3 months ahead of schedule
(VEN) - In 2008, PetroVietnam Gas Joint Stock Corporation (PV Gas) exceeded its production plan from 4- 52 percent as well as financial targets from 33-83 percent. The corporation's production and business activities enjoyed favorable conditions thanks to higher oil prices than expectation (up 23.4 USD/barrel) and more stable and safer gas systems. Leaders of PetroVietnam visit and encourage laborers of PV GAS However, PV Gas faced many difficulties and obstacles from unexpected incidents occured in Nam Con Son and PM3-Ca Mau gas systems which caused interruption of gas supplies for a long time; increasing demand of Gaslift from Vietsovpetro, and the amount of gas from Cuu Long basin gradually decreased. In addition, some projects had many problems to be handled and needed a longer time to get approval by fuctional agencies. Despite this, all leaders and staff of PV Gas made continuous great efforts and determination to complete its goals and along with directions and … [Read more...] about Welcoming 2019: PV GAS fulfills yearly production targets 3 months ahead of schedule
UAE Ambassador celebrates Year of Zayed
Viet Nam News The year 2018, the Year of Zayed, is viewed as a year of achievements, initiatives, events and programmes that celebrate the personality of the great leader, Sheikh Zayed. The year highlights his life and career and promotes his noble human values. Ambassador Obaid Saeed Obaid Al Dhaheri talks to Minh Thu about the country’s achievements. First of all, would you please provide an update on the development of the UAE after 47 years of the union? This year was a special one for the UAE in marking the 100th birthday of its founder, the late Sheikh Zayed Bin Sultan Al Nahyan, who was committed to building a sustainable future for generations to come and laid the foundations for the vibrant, diverse and cosmopolitan society that the UAE remains today. We also celebrated our 47th National Day on December 2. Nowadays, the UAE is widely known as a diverse and knowledge-based economy, economic growth remains stable despite the faltering global economy, and it is one of … [Read more...] about UAE Ambassador celebrates Year of Zayed
Myanmar exports over 1 million tonnes of rice in fiscal transition period
Illustrative image (Source: mmtimes.com) Hanoi (VNA) - Myanmar exported 1.12 million tonnes of rice in the last six months, earning over 390 million USD, according to an announcement of the Myanmar Rice Federation. In the period, Myanmar’s rice, including broken rice, was shipped to 61 countries from April to September 2018, the federation said. Rice and broken rice export through border checkpoints earned an estimated 226.9 million USD, whereas the sea trade fetched 163.9 million USD. Previously, the Government of Myanmar changed the start of fiscal year from April to October from 2018-2019, creating a transition period of six months. In the fiscal 2017-2018, Myanmar exported 3.6 million tonnes of rice and broken rice, earning 1.11 billion USD. The country is expected to ship 2.5 million tonnes of rice abroad in 2018 as it is a key agricultural product of the country. Besides rice exports, Myanmar is also trying to promote other export products including peas and … [Read more...] about Myanmar exports over 1 million tonnes of rice in fiscal transition period
Vietnam’s sugar industry in the worst slump of the last 15 years
VietNamNet Bridge - With profits down and inventory up, sugar companies are in their most difficult period of the last 15 years. June was the end of the 2017-2018 fiscal year of many sugar companies. The finance reports released so far all showed that they experienced a tough time. Even Thanh Thanh Cong Bien Hoa, the largest company with best production capacity, has also reported the profit decrease. Its combined revenue was VND10.364 trillion, while post-tax profit was VND546.7 billion, up by 61 percent. Casuco is facing the same problems. Its finance report showed revenue of VND1.065 trillion and post-tax profit of VND3.1 billion in the last fiscal year, decreasing by 21.5 percent and 95.5 percent compared with the last year. RELATED NEWS Sugar protectionism questionable ATIGA postponement to give push to sugar industry Kim Chi … [Read more...] about Vietnam’s sugar industry in the worst slump of the last 15 years
DPM asks for taking advantages of ADB preferential loans in 2018
Deputy PM, FM Pham Binh Minh chairs a meeting to review and accelerate the implementation of seven projects supported by the Asian Development Bank (ADB)’s loan in the fiscal year 2018, Ha Noi, September 17, 2018 - Photo: VGP/Hai Minh Participants in the meeting included representatives of the Ministries of Planning and Investment, Construction, Justice, Health, Labor, Invalids and Social Affairs, Industry and Trade, Agriculture and Rural Development, Culture, Sports and Tourism, the Government Office, the State Bank of Viet Nam as well as leaders from the provinces of Hoa Binh, Nghe An, Quang Tri and Thua Thien Hue. Among seven projects, three of which were ratified and four ones are prepared to be negotiated with the total capital of around US$300 million, including skills and knowledge for inclusive economic growth program, the second phase of the Greater Mekong Subregion tourism infrastructure for … [Read more...] about DPM asks for taking advantages of ADB preferential loans in 2018
Sugar firms anticipated more buoyant upcoming fiscal year
Positive factors apprear promising a more upbeat upcoming fiscal year for sugar firms The recently released financial statement of Son La Sugar JSC (SLS) showed that in the fourth quarter of the company’s 2017-2018 fiscal year from July 1, 2017 to June 30, 2018, it fetched VND144 billion ($6.3 million) in revenue, equal to the number recorded one year ago, but its post-tax profits plunged by 39.3 per cent. For the whole fiscal year 2017-2018, the company’s post-tax profit decreased by 28.9 per cent on-year to VND116 billion ($5.13 million). Lower profits against augmenting asset value have led to a sharp fall in the company’s major profitability indexes. Accordingly, its return on asset (ROA) ratio fell to 8.2 per cent from 17.8 per cent in the same period last fiscal year, while its return on equity (ROE) ratio dropped to 24.2 per cent from 38.8 per cent. The SLS results reflect a development shared by most other sugar firms in the 2017-2018 fiscal year. In the … [Read more...] about Sugar firms anticipated more buoyant upcoming fiscal year
Growth in Asia and the Pacific’s developing economies for 2018 and…
In a supplement to its Asian Development Outlook (ADO) 2018 report released last April, ADB forecasts 2018 growth for Asia and the Pacific at 6.0% for 2018 and 5.9% for 2019, in line with its previous projections. Excluding Asia’s newly industrialized economies, growth is forecast at 6.5% in 2018 and 6.4% in 2019, also unchanged from April.“Although rising trade tensions remain a concern for the region, protectionist trade measures implemented so far in 2018 have not significantly dented buoyant trade flows to and from developing Asia,” said ADB Chief Economist Mr. Yasuyuki Sawada. “Prudent macroeconomic and fiscal policymaking will help economies across the region prepare to respond to external shocks, ensuring that growth in the region remains robust.”In East Asia, growth picked up in Hong Kong (China) and Taipei (China), though growth forecasts are unchanged for the subregion at 6.0% in 2018 and 5.8% in 2019. The world’s second largest economy, … [Read more...] about Growth in Asia and the Pacific’s developing economies for 2018 and…