The Business Times: Singaporean firm to buy stake in local food processor

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• Singaporean firm to buy stake in local food processor
• Vietnam not to adjust foreign exchange rates by year end: Vice Governor
• Shares put positive end to the week
• Bank restructuring to be on the state audit list 2014
• Vietnam’s remittances exceed expectation to top $11 bln
• A lot of commercial banks change hands
• Many more banks to be listed
• Japan and South Korea eye Vietnam for production bases

Singaporean firm to buy stake in local food processor Posted: 06 Dec 2013 07:47 PM PST Food processor Hung Vuong (HVG) announced yesterday that it would sell up to 30 million shares to a foreign shareholder next year. According to the company’s chairman, Duong Ngoc Minh, the shares will be sold to a Singapore supermarket operator. “We aim to expand business into the Singapore market, we are not short of money,” [...] The post Singaporean firm to buy stake in local food processor appeared first on Vietnam Business News.

Vietnam not to adjust foreign exchange rates by year end: Vice Governor Posted: 06 Dec 2013 07:44 PM PST Vietnam will not adjust foreign exchange rates from now to the year end, Le Minh Hung – Deputy Governor of the State Bank of Vietnam (SBV) said with media agencies today[Dec 6], vnexpress.net reported. Supply and demand for foreign currencies in the domestic market remain stable, the interbank exchange rate is still under the bid [...] The post Vietnam not to adjust foreign exchange rates by year end: Vice Governor appeared first on Vietnam Business News.

Shares put positive end to the week Posted: 06 Dec 2013 07:43 PM PST Shares advanced on both national stock exchanges yesterday, following slight losses on Thursday. However, overall liquidity declined. The VN-Index on HCM City Stock Exchange gained 0.02 per cent to 510.12 points thanks to the support of blue chips. According to FPT Securities, the benchmark index will continue to fluctuate with a narrow amplitude of around [...] The post Shares put positive end to the week appeared first on Vietnam Business News.

Bank restructuring to be on the state audit list 2014 Posted: 06 Dec 2013 07:41 PM PST The process of restructuring credit institutions will be one of the three focus areas of the State Audit in 2014, local newswire Dan Tri reported. According to Doan Xuan Tien, Deputy Auditor General, in 2014, the State Auditor audit will focus on three areas: process of restructuring credit institutions; the rearrangement of corporations and groups; [...] The post Bank restructuring to be on the state audit list 2014 appeared first on Vietnam Business News.

Vietnam’s remittances exceed expectation to top $11 bln Posted: 06 Dec 2013 07:36 PM PST Banks and remittance companies all say the remittance inflows they have received in 2013 are far greater than earlier predicted, with the country expected to receive US$11 billion in remittances this year. In Ho Chi Minh City alone, the remittance inflows are estimated at $4.8 billion. Dong A Money Transfer, a subsidiary of DongA Bank, [...] The post Vietnam's remittances exceed expectation to top $11 bln appeared first on Vietnam Business News.

A lot of commercial banks change hands Posted: 06 Dec 2013 07:35 PM PST So many commercial banks have announced the big changes in their structure recently that people have to raise a question what is happening with the banking sector…. VP Bank has announced the capital withdrawal by the strategic shareholder Oversea-Chinese Banking Corporation Limited (OCBC) – the biggest Singaporean bank in terms of the market capitalization value, [...] The post A lot of commercial banks change hands appeared first on Vietnam Business News.

Many more banks to be listed Posted: 06 Dec 2013 07:33 PM PST The State Securities Commission (SSC) has just worked with the State Bank of Vietnam (SBV) and both have agreed on urging public joint stock banks to list on the stock market, local newspaper Banking Times reported citing information from SSC. The purpose of the move from SSC””s perspective is to create more products for the [...] The post Many more banks to be listed appeared first on Vietnam Business News.

Japan and South Korea eye Vietnam for production bases Posted: 06 Dec 2013 07:32 PM PST In the first ten months of the year, Japanese investors registered the foreign direct investment (FDI) capital of $4.8 billion, staying firm as the biggest foreign investor in Vietnam. However, South Koreans have also been marching towards Vietnam, with $4 billion worth of registered FDI capital. Japan and South Korea – two countries with two [...] The post Japan and South Korea eye Vietnam for production bases appeared first on Vietnam Business News.

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