Vietnam Business News

---

• CGV makes Mega play in Vietnam
• Bangkok-HCMC link proposed
• Auto sales skid during June
• Petrolimex’s IPO off limits to foreigners
• Bitter-sweet 2011 for banks
• Hanoi, HCMC among top ten Asian cities
• PM cuts wings of mining investors
• BOT mode not always “luscious fruit” for infrastructure investors
• Coffee exporters buy high, sell cheap
• Are there too many oil refineries in Vietnam?

CGV makes Mega play in Vietnam Posted: 13 Jul 2011 02:13 AM PDT South Korea’s CJ-CGV is to pay $73.6 million to become the largest cinema operator in Vietnam. The company is buying a controlling 92 per cent stake in Virgin Islands-registered Envoy Media Partners, which in turn owns 80 per cent of Megastar Media Company (Mega Star), Vietnam’s leading exhibition circuit. Other shares are owned by local [...]

Bangkok-HCMC link proposed Posted: 13 Jul 2011 02:12 AM PDT Thailand will propose building a rail link between Bangkok and Ho Chi Minh City at a meeting of the Greater Mekong Subregion (GMS) in Burma in December. The route would run from Bangkok to Chiang Rai, Boten in Laos, Mohan and Kunming in China, and on to Hanoi and Ho Chi Minh City in Vietnam. [...]

Auto sales skid during June Posted: 13 Jul 2011 02:11 AM PDT Domestic auto sales reached around 7,600 units in June, dropping by 25 per cent compared to the same month last year, according to the Vietnam Automobile Manufacturers’ Association (VAMA). Sport-utility, multi-purpose and crossover vehicles (SUV/MPV/Cross-over) suffered the strongest declines in sales with only 1,390 units sold, a slump of 40 per cent, while commercial vehicle [...]

Petrolimex’s IPO off limits to foreigners Posted: 13 Jul 2011 02:11 AM PDT Foreigners will not be allowed to bid for giant Petrolimex's upcoming initial public offering, due to the government's energy security policies. The regulation was emphasised by the company Tuesday in its roadshow promoting its IPO to take place on July 28. In Petrolimex's prospectus, the oil importer and distribution also required investors "being domestic institutions [...]

Bitter-sweet 2011 for banks Posted: 13 Jul 2011 02:10 AM PDT Bank profit margins in 2011's first half were split on the back of economic uncertainties. Ho Chi Minh City-based Sacombank raked in VND301 billion ($14.5 million) worth in profits in June 2011 alone, driving up its pretax profit margins in the first six months to VND1.515 trillion ($73.2 million) or 56 per cent of the [...]

Hanoi, HCMC among top ten Asian cities Posted: 13 Jul 2011 02:10 AM PDT Hanoi and Ho Chi Minh City have been named among top ten Asian cities for 2011 by the US Travel and Leisure magazine. In the list, the capital city of Thailand, Bangkok took the first place while Ho Chi Minh City and Hanoi came seventh and ninth, respectively. Additionally, this list also honoured Vietnam's Sofitel [...]

PM cuts wings of mining investors Posted: 13 Jul 2011 02:09 AM PDT Prime Minister Nguyen Tan Dung has just ordered four state-owned groups to divest from the Thach Khe project, country's largest iron ore mining and billet manufacturing project. The groups are Vietnam Shipbuilding Industry Group, Song Da Holdings, Vietnam Posts and Telecommunications Group and Bank for Investment and Development of Vietnam, according to a Government Office [...]

BOT mode not always “luscious fruit” for infrastructure investors Posted: 13 Jul 2011 02:07 AM PDT The fact that the investor of the Phu My Bridge project has proposed to "give back" the project to the HCM City People's Committee, shows that BOT (build – operation – transfer) mode does not always bring fat profits to investors as previously thought. Big difficulties The Phu My bridge has been built by the [...]

Coffee exporters buy high, sell cheap Posted: 13 Jul 2011 02:07 AM PDT A lot of Vietnamese coffee exporters have to purchase coffee from foreign businessmen to fulfill export contracts. The purchase prices are even higher than the export prices. The problem is that Vietnamese exporters have signed the contracts on exporting coffee, but they cannot collect coffee from farmers to fulfill the orders, because only 10 percent [...]

Are there too many oil refineries in Vietnam? Posted: 13 Jul 2011 02:06 AM PDT Vietnam has been warned that if it cannot well calculate pluses and minuses, it may face risk when developing oil refineries, especially when the crude oil price is on the rise, while the investment rates on oil refineries become big. According to the Ministry of Industry and Trade, about 10 petrochemical refinery projects with the [...]

You are subscribed to email updates from Vietnam Business News To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610