The Business Times: Footwear industry heads for record year

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• Footwear industry heads for record year
• Vinamilk launches new NZ milkproduct
• VN company wins regional award for best cocoa
• Vietnamese seafood companies silently seeking foreign partners
• Firms delay dividends despite making profits
• Having no money, businesses issue shares to pay debts
• Foreign currencies as gifts still legal
• SHB to unload $47m in bad debts loans
• Corruption trial begins for former Agribank director
• Vietnam c.bank net injects vnd969bln via OMO on nov 6

Footwear industry heads for record year Posted: 07 Nov 2013 12:35 AM PST The footwear industry is expected to reach a record export value of US$8 billion this year, experts said. The Viet Nam Leather and Footwear Association (Lefaso) said the average export value in the first nine months stood at about $675 million per month. The record would be reached if this average value continues in the [...] The post Footwear industry heads for record year appeared first on Vietnam Business News.

Vinamilk launches new NZ milkproduct Posted: 07 Nov 2013 12:34 AM PST Vinamilk has launched its new Twin Cows fresh milk brand in the local market. The milk, produced in New Zealand, is being sold under the company’s international co-operation programme that seeks to expanding supply sources to meet local milk demand. While milk consumption by Vietnamese people has increased sharply over the last several years, domestic [...] The post Vinamilk launches new NZ milkproduct appeared first on Vietnam Business News.

VN company wins regional award for best cocoa Posted: 07 Nov 2013 12:32 AM PST Puratos Grand-Place Viet Nam has won an international award for producing the best cocoa in the Asia-Pacific region. The International Cocoa Award, which is part of the “Cocoa of Excellence” programme, was awarded at the Salon du Chocolat in Paris last week. The award aims to celebrate the diversity of cocoa flavours from all over [...] The post VN company wins regional award for best cocoa appeared first on Vietnam Business News.

Vietnamese seafood companies silently seeking foreign partners Posted: 07 Nov 2013 12:30 AM PST A series of the "big guys" in the seafood industry are planning to sell stakes to foreign investors, which is considered a good way to seek capital. The Hung Vuong Seafood Company (HVG) said it plans to issue 30 million shares to a Singaporean partner at the price of VND30,000 per share at minimum. Meanwhile, [...] The post Vietnamese seafood companies silently seeking foreign partners appeared first on Vietnam Business News.

Firms delay dividends despite making profits Posted: 07 Nov 2013 12:26 AM PST Many listed firms made profits on the books but some have delayed dividend payments for up to four years in a row, seeing many small investors suffer. Notable is the rise in this behavior, in 2007, the percentage of companies which did not pay dividends was only 2 per cent. However, it climbed to around [...] The post Firms delay dividends despite making profits appeared first on Vietnam Business News.

Having no money, businesses issue shares to pay debts Posted: 07 Nov 2013 12:25 AM PST A lot of big debtors have issued shares recently to specific partners as a method to pay debts. Hoang Quan Real Estate Group, Tan Tao Investment and Industry Group, Mai Linh Group and Ha Tien 1 have succeeded with the plans to pay debts in shares instead of cash. The extraordinary shareholders' meeting of Ha [...] The post Having no money, businesses issue shares to pay debts appeared first on Vietnam Business News.

Foreign currencies as gifts still legal Posted: 07 Nov 2013 12:22 AM PST In the latest draft released late on November 6, the State Bank of Vietnam (SBV) again acknowledges the right of individuals to use foreign currencies as gifts after more than a week of proposing to ban, local newswire VNExpress reported. In late October, SBV announced the draft decree to replace Decree 160 guiding the implementation [...] The post Foreign currencies as gifts still legal appeared first on Vietnam Business News.

SHB to unload $47m in bad debts loans Posted: 07 Nov 2013 12:20 AM PST Sai Gon-Ha Noi Bank (SHB) announced plans to sell VND1 trillion (US$47.6 million) in bad debts to the Viet Nam Asset Management Company (VMAC) this month, following a previous VND400 billion ($19.05 million) sale of the bank’s bad loans. Speaking at the bank”s anniversary event on Sunday, General Director Nguyen Van Le said the deal [...] The post SHB to unload $47m in bad debts loans appeared first on Vietnam Business News.

Corruption trial begins for former Agribank director Posted: 07 Nov 2013 12:19 AM PST Just over US$25 million was embezzled from the State budget, the People’s Court of HCM City heard yesterday at the start of a corruption trial involving the director general of Agribank Financial Leasing Company No 2 (ALCII)…. Former ALCII chief executive Vu Quoc Hao was charged with embezzling VND531 billion ($25.3 million) worth of State [...] The post Corruption trial begins for former Agribank director appeared first on Vietnam Business News.

Vietnam c.bank net injects vnd969bln via OMO on nov 6 Posted: 07 Nov 2013 12:15 AM PST The State Bank of Vietnam (SBV) withdrew VND21 bln via reverse repo and pumped VND990 bln via T-bill outright selling on November 6, 2013, local newswire Tri Thuc Tre reported. As for reverse repo transactions, there was no bid, while the mature amount was VND21 billion, resulting in SBV's net withdrawal of VND233 billion. As [...] The post Vietnam c.bank net injects vnd969bln via OMO on nov 6 appeared first on Vietnam Business News.

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