The Business Times: 3G service fee increase unexpected produces a stir

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• 3G service fee increase unexpected produces a stir
• First all foreign-owned securities firm approved
• Experts skeptical about transfers of ailing SOEs
• Shares rally on improved liquidity
• Vietnam VDB sells vnd800bln g-bonds on oct 21; yield flat
• Vietnam SHB plans to sell vnd1tln bad loans to VAMC
• ACB estimated to earn vnd525bln pre-tax profit in q3
• Vietnam c.bank net injects vnd127bln via OMO on oct 21
• VAMC has bought debts “not relating to Vinashin”
• Oct 22: Vietnam central bank keeps dollar exchange at vnd21,036, commercial bank rate down

3G service fee increase unexpected produces a stir Posted: 22 Oct 2013 12:04 AM PDT 3G service turns out to be a violent battlefield for telecom groups. The market has become choppy after the three biggest network operators announce the service fee hike. Vietnamobile, which has never been considered a redoubtable rival in the telecom market, has unexpectedly stated that it will not raise the 3G service fees. The statement [...] The post 3G service fee increase unexpected produces a stir appeared first on Vietnam Business News.

First all foreign-owned securities firm approved Posted: 21 Oct 2013 11:58 PM PDT  Maybank Kim Eng Viet Nam received approval from the State Securities Commission (SSC) this week to become the country’s first completely foreign-owned securities company. Currently, Maybank Kim Eng Holdings owns about 48.55 per cent of Maybank Kim Eng Viet Nam. The firm plans to acquire the remaining 51.45 per cent of equity stake (15,435,000 shares) [...] The post First all foreign-owned securities firm approved appeared first on Vietnam Business News.

Experts skeptical about transfers of ailing SOEs Posted: 21 Oct 2013 11:55 PM PDT Local experts during a meeting on Wednesday said that the transfer of ailing State-owned enterprises (SOEs) to other sound SOEs will only see problems of the enterprises spreading widely instead of giving the firms proper therapy. In addition, there is no legal framework for such transfer, the experts said at the seminar on SOE role [...] The post Experts skeptical about transfers of ailing SOEs appeared first on Vietnam Business News.

Shares rally on improved liquidity Posted: 21 Oct 2013 08:38 PM PDT HA NOI (VNS)— Shares finished yesterday in the green on both national stock exchanges, capping a strong start to the week. However, the rally on the HCM City Stock Exchange began to ease as the afternoon session wore on as investors sold off low-price shares. “Still, it is a positive signal as they showed a [...] The post Shares rally on improved liquidity appeared first on Vietnam Business News.

Vietnam VDB sells vnd800bln g-bonds on oct 21; yield flat Posted: 21 Oct 2013 08:30 PM PDT The Vietnam Development Bank (VDB) on Oct 21 sold VND800 billion worth of government bonds out of VND4 trillion auctioned at the Hanoi Stock Exchange (HNX), the bourse has said. In the auction, the VDB planned to sell VND3 trillion worth of government-backed bonds, distributed equally for tenors of 2 years and 3 years as [...] The post Vietnam VDB sells vnd800bln g-bonds on oct 21; yield flat appeared first on Vietnam Business News.

Vietnam SHB plans to sell vnd1tln bad loans to VAMC Posted: 21 Oct 2013 08:28 PM PDT Nguyen Van Le, general manager of SHB, said the bank aimed to sell over VND1 trillion bad loans to the VAMC, most of which were of Habubank after its merger with SHB. The Vietnam Asset Management Company (VAMC) has recently issued VND74.7 billion worth of special bonds to buy the first batch of bad debts [...] The post Vietnam SHB plans to sell vnd1tln bad loans to VAMC appeared first on Vietnam Business News.

ACB estimated to earn vnd525bln pre-tax profit in q3 Posted: 21 Oct 2013 08:26 PM PDT The Asia Commercial Bank (ACB) is estimated to have booked VND525 billion pretax profit in the third quarter of this year, an improvement from a loss of VND691 billion a year earlier, the BaoViet Securities Co. (BVSC) has said. In H1/13, ACB reported a pretax profit of VND944 billion, meeting 52.4% of its full-year plan. [...] The post ACB estimated to earn vnd525bln pre-tax profit in q3 appeared first on Vietnam Business News.

Vietnam c.bank net injects vnd127bln via OMO on oct 21 Posted: 21 Oct 2013 08:24 PM PDT The State Bank of Vietnam (SBV) net injected VND127 billion through open market operation (OMO) on Oct 21, 2013. In details, the central bank net pumped VND127 billion through reverse repo operation after it injected VND257 billion and withdrew VND130 billion during the day. The net injection raised the outstanding loans on OMO to VND708 [...] The post Vietnam c.bank net injects vnd127bln via OMO on oct 21 appeared first on Vietnam Business News.

VAMC has bought debts “not relating to Vinashin” Posted: 21 Oct 2013 08:20 PM PDT All bad loans purchased by the Vietnam Assets Management Co. (VAMC) had no connections with Vinashin, as bad loans of the debt-laden shipping firm will be exclusively dealt with by the government. The information was emphasized by the VAMC's vice chairman Nguyen Quoc Hung in an interview with the local newswire VnEconomy.vn. Year to date, [...] The post VAMC has bought debts "not relating to Vinashin" appeared first on Vietnam Business News.

Oct 22: Vietnam central bank keeps dollar exchange at vnd21,036, commercial bank rate down Posted: 21 Oct 2013 08:18 PM PDT Vietnam’s Central bank set the U.S. dollar’s exchange rate at VND21,036 on Tuesday, unchanged since June 28. Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, accordingly, the ceiling price for a dollar today was VND21,246. Today, majority of commercial banks lowered dollar prices [...] The post Oct 22: Vietnam central bank keeps dollar exchange at vnd21,036, commercial bank rate down appeared first on Vietnam Business News.

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