Mink buyers

The index fluctuated mostly in the 1,160 range throughout the day and ended with a one point gain. Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, fell 1 percent to VND17.4 trillion ($752 million). The bourse saw 205 stocks gain and 245 lose. Foreign investors were net buyers to the tune of VND268 billion for the first time after 23 sessions. Their purchases centred mostly on VIC shares of the Vingroup conglomerate, NVL of Novaland Group and GAS of state-owned Petrovietnam Gas. The VN30 basket, comprising the 30 largest capped stocks, saw 12 stocks gain. VIC went up up 2.3 percent to reach its highest value since Jan. 15. The ticker is 3.6 percent away from breaking this year’s peak. It was followed by STB of Ho Chi Minh City-based lender Sacombank, up 1.9 percent after four losing sessions. MSN of conglomerate Masan Group rose 1.1 percent after four losing sessions. The ticker has fallen over 11 percent from this year’s peak in … [Read more...] about VN-Index inches up as foreign investors turn net buyers

The pandemic has not slowed down interest from buyers and developers for top-class properties On a breezy Saturday evening in Nhon Trach district of Dong Nai province, a group of residents were enjoying a BBQ dinner outside a garden villa at SwanBay, a township developed on Dai Phuoc island, 30 minutes by boat from Ho Chi Minh City. “It is ideal to have a villa on the island. I had heard about the concept of island properties, and now I can have such a villa right here in Vietnam,” said the owner. Beginning in 2017 as a project totalling over 200 hectares, half of which has already been developed, Swanbay boasts over 2,000 units sold and 1,000 of them already completed and handed over. The project is among some of the first to be developed under the concept of island townships in Vietnam. Also in the same province, other ventures such as Angel Island by Song Tien Corporation and Aqua City-Phoenix developed by Novaland are driving interest from high-income buyers. According … [Read more...] about Island properties driving interest of high-class buyers

LG Electronics is looking to sell its smartphone plants. Source: Glassdoor After announcing to withdraw from the smartphone business, LG Electronics is closing down production plants in Haiphong (Vietnam), Taubate (Brazil), and Qingdao (China) after failing to effect a breakthrough, according to Business Korea . Of these, the Haiphong plant, which is the largest among LG Electronics' smartphone plants with an annual capacity of about 10 million smartphones, equaling about half of LG's total smartphone output, has been announced to find a buyer at the selling price of KRW100 billion ($90 million). Realising the difficulties of finding a local buyer, which is going to manufacture almost 10 million smartphones per year, LG Electronics is considering selling the plant site only, without the production lines. The Taubate and Qingdao plants are facing the same difficulties. They have a total capacity of about 8-9 million smartphones a year. After a rumour about the sale of the … [Read more...] about LG Electronics looking for buyer for smartphone plants

Delegates at the opening ceremony of the Furniture Sourcing Day, which is part of the Vietnam Furniture Matching Week, in Thu Duc City on April 14. — VNS Photo Furniture Sourcing Day opened in Thu Duc City on Wednesday. The event at the White Palace Event and Exhibition Centre has attracted more than 400 manufacturers and exporters and local and foreign sourcing agencies, who hope to exchange information and explore online and offline business opportunities. It seeks to enable Vietnamese manufacturers to showcase their products and production capacities to foreign buyers via HOPE platform (https://hopefairs.com), the online exhibition platform that the Handicraft and Wood Industry Association of HCM City (HAWA) launched last year to connect furniture suppliers with global buyers at a time when many trade fairs and exhibitions were postponed or cancelled due to COVID-19, and directly to sourcing partners. There will be business matching and exhibition activities and two … [Read more...] about Event to connect VN furniture producers, international buyers opens in HCM City

The co-operation agreement signing ceremony between VietinBank and Novaland in HCM City late last week. — VNS Photo Property developer Novaland Group last week inked a strategic agreement with VietinBank under which the latter will provide preferential loans for buying housing products from it. They will also design preferential packages for each other’s staffs. The lending will be for Aqua City in Dong Nai to start with and then hospitality projects like NovaWorld Phan Thiet in Binh Thuan and NovaWorld Ho Tram in Ba Ria – Vung Tau. The lender will provide a full range of products and services such as medium-term loans and loan guarantees for Novaland's contractors and international payment. VietinBank and its subsidiaries will get priority use of hospitality, healthcare and education services and amusement facilities in the Novaland eco-system. Bui Xuan Huy, general director of Novaland, said: “ We hope that the two sides will co-operate to develop a solid financial … [Read more...] about Novaland gets VietinBank on board for lending to buyers