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BUSINESS IN BRIEF 18/8
Searefico
sells 20% stake to Japanese partner
Searefico
Refrigeration Industry Joint Stock Company (SRF) signed a strategic
partnership agreement last Friday to sell a 20% stake to Taisei Oncho, a
Japanese firm in the same industry.
The
agreement allows Taisei Oncho to buy over 1.3 million shares, or a 16.45%
stake, from SRF and the remaining 3.55% from large shareholders, raising its
total ownership the local firm to 20%.
This
is the biggest ever share transfer of SRF and Taisei Oncho is the largest
strategic shareholder of the enterprise up to now.
Le Tan
Phuoc, general director of SRF, said the Japanese firm would give technical
training and help SRF improve project management capability to international
standards.
Taisei
Oncho will also assist SRF to expand its business to
Established
in 1977, SRF is a mechanical & electrical (M&E) and industrial
refrigeration contractor in
OTC
trading quiet
The
over-the-counter (OTC) market is no longer as lively as in 2009 and 2010
since investors now have to wait for very long to complete a transaction and
not so many OTC stocks are actively traded.
On the
website sanotc.com, where OTC trading is the busiest, bank stocks are
currently the most popular. Up to 15 bank stocks are on offer here.
Most
OTC stocks are quoted below the par value, but their prices do not fluctuate
as widely as prices of listed stocks. A number of stocks are still priced at
the level of two years ago, such as TienphongBank at VND4,500 per share and
DongABank at VND8,400 per share.
From
the average price of some VND18,500 on December 29, 2011, BIDV stock is
offered at VND11,000 today. It is one of the most traded bank stocks in the
OTC market at present.
In
addition to bank stocks, other actively traded stocks are Sabeco of Saigon
Beer, Alcohol and Beverage Corporation (VND66,000 per share), Quasuco of
Quang Ngai Sugar Joint Stock Company (VND66,500 per share) and Cadivi of
Vietnam Electric Cable Corporation (VND23,000 per share), said Chau Thien
Truc Quynh, head of retail brokerage at Viet Capital Securities Company.
An OTC
broker remarked OTC stock prices did not fluctuate on information about
bourse debuts anymore. It is because even some stocks when listed on bourse
can hardly mark up.
Not so
many OTC brokers are seen at Viet Capital now. Quynh said the number of
brokers declined in line with the demand for OTC trading.
Thus,
Viet Capital’s revenue from OTC brokerage fee payments is insignificant,
mainly sourced from the companies with shareholder books at the company,
while most OTC brokers are now active on the official exchanges.
In
HCMC, the OTC trading floors of Dong Duong Securities and VN Direct have been
shut down.
It is
not too hard to buy OTC stocks, but when wanting to sell them, investors have
to wait for very long since many investors now only trade stocks on the
official exchanges. For this reason, many securities companies want to
liquidate OTC stocks as the stock market has been going down since 2007-2008
but they can hardly do so.
It is
not strange that OTC stocks are struggling with poor liquidity, when a lot of
stocks have not recorded any transaction on even the Hanoi Stock Exchange and
in the market for unlisted companies (UPCoM).
In the
year to date, the value of each UPCoM session has not exceeded VND5 billion.
For example, less than VND1 billion worth of stocks was traded on Monday,
even though there are over 100 stocks listed in this market.
HCMC
will issue municipal bonds in the first phase on August 21 with a total value
of VND1.5 trillion with an aim to mobilize capital for socioeconomic
development including traffic infrastructure in the city.
Under
the municipal bond issuance plan already approved by the city’s government,
the total value of the bonds is projected at VND3 trillion.
Municipal
bonds to be issued will have three-year, five-year and ten-year terms with a
face value of VND100,000 each. Apart from the first-phase issuance of VND1.5
trillion scheduled for next week, the balance is set for issuance in the next
quarter.
According
to a resolution passed by the city’s People’s Council, capital construction
in 2013-2015 sourced from the city’s State budget totals around VND43.29
trillion, exclusive of official development loans. Of the hefty amount,
capital volume for 2013 is estimated at VND12.9 trillion, while that for 2014
is some VND14.5 trillion and about VND15.92 trillion for 2015.
Traffic
infrastructure development alone needs a combined US$39 billion from now to
2020 as calculated by the local authorities.
Import
of cashew material surges
The
volume of cashew imported and processed last month was estimated at 95,000
tons worth US$88 million, raising the cashew import in the seven-month period
to 333,000 tons with a value of US$330 million.
With
such figures, the import of cashew material in the period shot up by 79.8% in
volume and 77% in value year-on-year.
According
to the Ministry of Agriculture and Rural Development, compared to the cashew
export turnover in the January-July period which was US$759 million, the
added value of cashew export is quite low as the sector still depends much on
imported material.
According
to the director of a cashew processing firm, many local enterprises do not
have money to import material but mainly accept outsourcing orders to process
cashew for foreign traders to maintain jobs for workers.
The
lack of cashew material for processing results from the impact of the weather
and low cashew prices, which prompt farmers to replace cashew by other crops,
according to experts.
According
to the Vietnam Cashew Association (Vinacas),
Nguyen
Van Chieu, vice chairman of Vinacas, said that
Kien
Giang wants fate of inactive power project decided
The
government of Kien Giang has suggested ways to handle
Vice
Chairman Pham Vu Hong of the province last week wrote to the Ministry of
Industry and Trade, asking the ministry to decide the fate of this
foot-dragging power project, according to the website of Kien Giang Province.
Work
on
Moreover,
the slow progress of this power project brings socioeconomic damages to
Therefore,
the provincial government has suggested two ways to handle this project.
If
ITACO remained capable of developing this project, it must comply with the
schedule given in Decision 3594/QD-BCT of the Ministry of Industry and Trade
dated June 25, 2008. ITACO previously pledged to start operating two
generators with a combined capacity of 1,200 MW between 2013 and 2014.
If
ITACO was no longer capable, the ministry should revoke its right to develop
the project and call on other investors to take over the project.
On
October 8 last year, the government of Kien Giang met with ITACO to discuss
the problems the project owner was facing. ITACO was asked to find ways to
continue the project and send a report to the provincial government prior to
December 31.
On
February 27 this year, another meeting took place between Kien Giang’s
government and ITACO, and the project owner was given more time to come to
the final decision whether it will continue the project or change the
investment format. But so far, ITACO has yet to make its decision.
In
August 2008, the Government approved Tan Tao Group as owner of
The
project is planned for development over an area of 555 hectares, costing a
total of some US$6.7 billion, excluding the cost for Nam Du Deep Water Port.
Nam Du
Deep Water Port will also be developed by Tan Tao in Kien Hai District, Kien
Giang Province, about 60 kilometers away from Kien Luong Thermoelectricity
Center. It will play an important role in importing coal for supply to
The
detailed plan for this US$800-million project was approved in February 2010,
but it remains on paper now.
As per
the original plan, Tan Tao Group will cover 20% of the total cost of
In
July 2009, Tan Tao Group reported to the Ministry of Finance on the financial
plan for the project in accordance with the regulations on GGU granting and
management.
At a
meeting between ITACO and the government of Kien Giang in September 2010, a
leader of the provincial Department of Planning and Investment remarked:
“ITACO is a wholly private company, and to date there has been no case of the
Government providing a private company with guarantee to borrow foreign
loans.”
In its
latest document sent to Kien Giang’s government, ITACO stated it had poured a
total of US$240 million into
Mobile
advertising seen growing
Mobile
advertising, a medium that has yet to attract the attention of Vietnamese
consumers, is poised to grow in the coming time, according to Kantar Media
Vietnam.
This
forecast is based on the fact that the country has more than 107 mobile
subscribers though the population is around 90 million.
A
survey which Kantar Media Vietnam conducted in the nation’s four major
cities,
Up to
one-fourth of respondents said they did not like mobile advertising while 19%
said they liked it. Billboard advertising comes in second in terms of
viewership, according the Kantar Media survey.
TV
advertising has remained the leading advertising medium, with “likes”
accounting for 87% of respondents. This explains TV stations made up 92% of
VND10.94 trillion ad revenues in the first half of this year.
The
country has seen a sharp pickup in Internet users with more people using the
Internet on their mobile devices. Of note is the Internet is the second
most-used medium after television in the four cities.
In
terms of demographics, people in the age group of 14-25 spend 50% of their
time on the web while Internet use gets less among older groups.
The
number of people using the Internet on their computers and mobile devices
would leap when more people join the 14-25 age group. This means demand for
mobile advertising would rise accordingly.
Television
remains a medium that has the biggest influence on consumers’ buy decisions,
with more than 45% of respondents agreeing with this point. Meanwhile, the
proportion among mobile device users is only 1.75%, according to the survey
done in March this year.
Mobile
advertising revenues now represent a mere 1% of the total on the market. Most
of those ads are texted as spams, thus frustrating users of mobile devices.
A few
companies like Densu and Goldsun Media Focus have made use of good ad
technology, such as augmented reality on mobile devices.
Popular
advertising forms in use on the market include PopUp, CatFish, Sponsored
Post, CPA and Apps while interactive ad technologies include barcode, Qrcode,
Augmented Reality.
An
interesting point found by the survey is 10% of the population with the
highest incomes and education use the Internet longer than those watching TV
on a daily basis.
The
survey found these Internet users spend 207 minutes a day on the web while TV
viewers spend just 197 minutes.
With
the four cities as a whole, TV remains a medium on which consumers spend most
of their time each day, around 208 minutes, compared to 91 minutes for the
Internet.
hree
dimension (3D), Full HD and cloud computing technologies are the latest
creations that companies will introduce to local consumers at the digital
technology era exhibition to be opened in HCMC at the end of this month.
The
annual event is organized by the International Data Group (IDG)
The
exhibition is expected to attract more than 200 stalls of big companies like
Canon, HP, Sony and Microsoft this year so as to introduce new technology
products to partners and consumers.
On the
occasion of the new school year, producers at the expo will offer a host of
discount and promotional programs for those buying computers and tablets
besides launching many other educational software products.
Organizers
expect this year’s event to lure around 200,000 visitors.
There
will be a Demo 2013 seminar on new technologies by companies and startup
businesses at the exhibition, where speakers share their startup experiences
and ways to draw investment to develop technology.
Two
events will both take place at the
Eximbank
finances power projects in central region
The
Vietnam Export-Import Bank (Eximbank) and the National Power Transmission
Corporation have signed a credit financing contract valued at 1.546 trillion
VND (72.6 million USD) in the central city of Da Nang on August 15.
The
package will be used for power projects in the central region, including the
second phase of the Thanh My 500KV transformer station; a 220KV transmission
line linking Song Bung 4, Song Bung 2 and the national power grid; a 220KV
transmission line between Vinh Tan and Phan Thiet; and a 220KV Son Ha-Doc Soi
line.
Work
on the Thanh My station, which will transmit electricity from Xekaman 3
hydropower plant and those in the west of Quang
The
other projects are also expected to become operational by the end of 2014 and
are expected to serve the livelihoods of people in the central region.
During
the first half of this year,
The
city’s social investment stood at more than 101 trillion VND (4.7 billion
USD), representing a year-on-year rise of 11.4 percent.
However,
MPI
Minister Bui Quang Vinh said the city’s budget failure is partially
attributable to unrealistic projection, which is 20 percent higher the figure
recorded last year.
He
urged the capital city to seek resources to achieve the completion of
unfinished projects.
Chairman
of the Hanoi People’s Committee Nguyen The Thao agreed and asked the ministry
to submit concrete credit solutions to the Government to promote investment
and consumption, helping the city overcome its difficulties and achieve
economic recovery.-
Before
2008,
However,
things were changed from mid 2008 and only several hundred local labourers
came to work in this market in some recent years.
“Export
labourers face tough weather conditions when working in
“Besides,
many export labourers incur high pressures stemmed from their dear costs for
going abroad to work,” Hai said.
In the
recent first meeting of the Vietnam-Qatar Joint Committee in
“
It
proves hard for
“Only
several hundred local labourers left for Qatar to work in the year to date,
so that resuming labour export to this market proves challenging,” Hai noted.
Beverage
industry thrives despite tough times
While
many industries are suffering from the economic downturn, the beverage
industry has continued to grow over the first half of this year.
During
the review conference about the industry's activities, Nguyen Van Viet,
president of Vietnam Beer, Alcohol and Beverage Association (VBA), said that
in the first six months of this year the industry has grown by 10.5% compared
to the same period last year.
They
have produced nearly 1.4 million liters of beer, an increase by 10.7%
compared to last year. The majority of the market share is still
controlled by Saigon Beer-Alcohol-Beverage Corporation (Sabeco), Hanoi
Beer-Alcohol-Beverage Corporation (Habeco), Heineken and Carlsberg brewery
corporations.
The
volume of beer production by Sabeco and Habeco reached 673 and 299.8 million
liters respectively, while other companies' total beer volume was 400.2
million liters. The volume of non-alcoholic beverage in the first half of the
year has also seen impressive growth, with 4.2 billion liters produced; an
increase of 20% over the previous year.
25,000
businesses in other industries had to shut down in the first six months of
the year because of capital shortage and high inventories. However, the
beverage industry still contributes over VND20 trillion (USD959 million) to
the state and creates millions of jobs across the country each year.
On the
other hand, a conference about domestic brand names and consumer protection
pointed out that many domestic beverage brand names are being threatened in
this competitive market. Only a few Vietnamese beverage companies, such as
Tan Hiep Phat, can still stand up against Coca Cola and Pepsi; and recently,
Taiwanese food processor Uni-President, has taken over major shares of
Tribeco Company.
Viet
also pointed out that the market is being flooded by various kinds of cheap
and low-quality products. In addition, authorities must be quick to deal with
FDI firms that use transfer pricing to avoid tax.
Deputy
head of Industry and Trade, Ho Thi Kim Thoa, asked firms to contribute
information and ideas in order to create a level playing-field for everyone
concerned.
Local
textile, garment firms in doldrums
One
year ago, local textile and garment firms were expanding markets in the
country, however, now they are shrinking production and trying to survive
under the current economic crisis.
One
year ago, textile and garment firms invested in production for the local
market as they wanted to get a grip on the market with population of nearly
90 million people.
Textile
firms expanded distribution channels and retail stores nationwide.
During
2011 and 2012, distribution agents and outlets had mushroomed in the country
along with advertising campaigns.
Textile
and garment outlets sprung up in crowded streets and shopping malls to lure
consumers.
However,
due to the long-standing economic crisis, purchase power declined sharply and
with retail sales dropping, textile and garment consumption suffered.
Not only
luxury goods, but also commonplace commodities were affected. Nguyen Huu
Toan, Deputy Head of Saigon 2 Garment Joint-Stock Company with Gidini and
Sanding brand names, said they have seen a decline in purchase power in
retail stores, supermarkets and schools; therefore, the firm makes
perfunctory production and has cut down on quantity of each design to curb
inventory.
For
years, Sanding was part of the City subsidized program, offering discounts of
10-15 percent. Nevertheless, purchase power still declined and parents cut
spending by buying cheaper clothes in markets.
Firms
also launched promotions and discount sales and even closed stores reporting
poor sales. Nguyen Thi Dien from An Phuoc Company with An Phuoc -
Pierrre Cardin brand name said the company had to reconsider expanding more
outlets due to slow consumption and high rentals. At first the company
planned to open 100 retail stores but stopped with only 85 outlets.
Since
difficulties have arisen with the economy downturn, the Association of Garment
and Textile Embroidery and Knitting (Agtex) have decided to hire foreign
experts to manage retail in the country.
Nguyen
Van Hung, Deputy Director General of the company, said that before the
company had intended to open 80 outlets but foreign experts proposed cutting
down on number of outlets to only 40.
This
difficult economic period should be used by firms to restructure their
businesses and move towards the right direction in development and growth.
EUR50
million metro rail project gets the green light
The
Hanoi Metropolitan Railway Management Board (MRB) and the French Development
Agency (AFD) signed a EUR50 million financing agreement on August 14 to
modernise the metro rail system.
Construction
of eight new stations under the Hanoi pilot metro line No.3 from Nhon Station
to Hanoi Station along with an 8.5km elevated section linking Nhon Station in
Tu Liem suburban district to Thu Le Station in Cau Giay district is to start
this month, said the MRB.
The
construction should be completed within 57 months under the supervision of
Smart-phones
are changing consumer behavior: Google
mart
phones are inducing drastic changes in the consumer behavior and thus
enterprises need to make changes as well to better approach their customers,
Google experts told a press conference in HCMC on Tuesday.
At the
press conference, Google experts said smart-phones had become an
indispensable part of life and that a smart-phone revolution was going on.
According
to a survey conducted by Google in the first quarter this year, the number of
smart-phone users accounts for up to 20% of the total population of Vietnam.
The
report shows that up to 70% of the respondents said they used smart-phones to
access the Internet while 50% said they wouldn’t leave home without taking
the gadget along. This indicates enterprises could connect and approach new
consumers if they know how to combine smart-phones into their business
strategies.
Simon
Kahn, chief marketing officer of Google Asia Pacific, stressed smart-phones
have already changed consumer behavior.
As per
the survey, up to 92% of smart-phone users replied they could do many things
at the same time while 64% said they used the phones whilst listening to
music. With the information, companies can make think of developing
multimedia campaigns to gain access to consumers more effectively.
Smart-phones
are also an effective tool supporting consumers in shopping according to the
survey, with 60% saying they buy products via smart-phones, meaning
enterprises need to optimize website interfaces on mobile foundations to
serve customers.
Advertising
on mobile phones also has huge potential as up to 97% of smart-phone users
search for information on the gadget, of which 97% take action based on the
acquired information such as goods purchase or direct contact with
enterprises.
Normally,
at big brands, advertisement campaigns are always combined together and in
this case mobile phones will become a supporting element for other channels.
In other words, smart-phones have become a multi activity portal.
In
fact, few local companies advertise on smart-phones while the total budget
for advertisement on smart phones amounts to 20% in other developed markets,
noted Kahn.
The
report is part of a global smart-phone research program conducted by Google
in 48 countries in the first quarter.
In
Non-life
insurance market suffers low growth
Non-life
insurance premium revenue in the first six months of 2013 picked up only 2.5%
year-on-year as many businesses are performing poorly in the tough economic
times, according to Vietnam Insurance Association.
According
to reports by non-life insurers, the premium revenue in the first half of the
year totaled some VND11.7 trillion, a slight increase of 2.5% year-on-year,
said Phung Dac Loc, general secretary of the insurance association.
Last
year, the non-life insurance market recorded a growth rate of 12.7% in the
first six months and 10.3% over the whole year.
Still,
it is encouraging that premium revenue rebounded in the second quarter with a
growth rate of 7.5% after dropping 5% in the first quarter. “This partly
shows that the economy is on the recovery path,” said Loc.
Non-life
insurers in the year’s first half paid total compensation of VND4.6 trillion,
or nearly 40% of the total premium revenue.
Bao
Viet took the lead in terms of premium revenue with VND2.58 trillion, a
meager increase of 1.32% over the same period last year, followed by
PetroVietnam Insurance (PVI) with VND2.46 trillion, up 12.4% year-on-year.
Bao
Minh and Petrolimex Insurance (Pjico) came next with VND1.17 trillion and
VND1.01 trillion, picking up 6.8% and 3.8% respectively. Only Post &
Telecommunication Insurance (PTI) suffered a decline in revenue, earning
VND793 billion, down 15% year-on-year.
In its
financial statement, PTI says the company had incurred a loss of VND10.16
billion from production and business operations by the end of the second
quarter, lower than VND26.5 trillion in the first half of 2012. However, its
financial investment generated a profit of VND41.8 billion, giving the
company a total pre-tax profit of VND27.6 billion, identical to the figure
last year.
Meanwhile,
life insurance premium revenue in the first six months of 2013 amounted to
VND9.15 trillion, a significant increase of 13.6% year-on-year. In the same
period last year, life insurance premium revenue was over VND8 trillion, up
10.4%.
As
citizens are burdened with many fees such as tuition and hospital charges and
the traditional investment channels are less profitable, many of them choose
life insurance to invest for the future and to hedge on possible risks, said
Loc.
Low
quality drugs wave causes major headache
According
to statistics from the Ministry of Health’s (MoH) Drug Administration, from
January 1, 2011 to July 15, 2013, the administration banned the nationwide
circulation of 137 types of medicine, including 63 manufactured by Vietnamese
firms, 56 by Indian firms, seven by South Korean firms, two by Cypriot
companies and two by French firms.
Some
Indian firms were recently found to have violated Vietnamese medicine
regulations, such as XL Laboratories and Umedica Laboratories Pvt. Ltd on
four occasions each, while AMN Life Science Pvt., Ltd., Flamingo
Pharmaceuticals Ltd.India, and Minimed Laboratories Pvt Ltd were found guilty
three times respectively.
Their
violations are due to the poor quality of their products and their failures
in correctly meeting the contents of registration dossiers already approved
by the MoH.
“Getting
these products off the market is in line with
Do
Ngoc The, a doctor from a large military-run hospital in
“
At
present, under the Law on Bidding issued in December 2005, and the
governmental Decree 85/2009/ND-CP guiding the implementation of the law, a
contractor offering the lowest price and technical standards meeting only
70-80 per cent of the project’s technical requirements could win the
contract. This has created a situation where a contractor meeting all the
technical standards but charging higher prices could not be selected.
However,
the MoH’s Drug Administration director Truong Quoc Cuong said in order for a
drug product to win a tender, its technical standards and quality needed to
be appraised in advance before bids for the lowest price were selected.
Footwear,
handbag production jumps on strong Japanese orders
The
leather and footwear sector expects to surpass its target of 9.7 billion USD
in turnover this year, as many Japanese importers have shifted their orders
from
Turnover
is expected to increase even more if the Trans-Pacific Partnership (TPP) and
the Free Trade Agreement (FTA) between
Many
importers, including those from
Luu
Van Thanh, director of Hoang Kim Handbag Ltd Co in
Thanh's
company, which employs 100 people, exports all of its products, to
Many
importers viewed Vietnamese standards for handbag production as higher than
those of other ASEAN countries such as
Truong
Thi Thuy Lien, director of Lien Phat Footwear Ltd Co in Binh Duong province,
said that after two months of surveying the market and sending samples, her
company has received its first orders from a Japanese partner.
The
company's export orders are full until the end of the year, according to
Lien.
The
leather and footwear association said the TPP and FTA would cut tariffs to
zero percent, which would make Vietnamese exports more competitive with
In the
first six months of the year, the footwear sector earned more than 3.99
billion USD in turnover, an increase of nearly 14 percent compared to the
same period last year.
The
Bag
and suitcase products also saw an export growth rate of 22 percent in the
first six months, with a turnover of 911 million USD.
Exports
to the
Da
Nang applies IT to water, transport management
The
central city of
The
move is part of IBM ’s “ Smarter Cities Challenge” scheme, with
The
Smarter Cities Challenge, launched in 2011 and worth 50 million USD, is one
of IBM's largest philanthropic initiatives. Leading IT experts from IBM have
worked with 100 cities around the world on key urban issues.
IBM
has sent experts to
The
corporation and local authorities will consider and propose ways to better
manage transport, water supply and drainage, as well as waste water from
industrial zones and factories and food safety and hygiene.
Over
the next five to ten years, the city will apply IT solutions to the field of
transport, urban, water, environment and health care management in order to
improve living conditions for the city’s people, with water and transport
given priority now.
Towards
becoming a smarter city and an electronic government in the future, the city
has been making strong strides in developing urban infrastructure and using
advanced technologies for building and operating the infrastructure system,
thus providing high-quality services to people, tourists and enterprises.-
Eximbank
named best bank in
The
Vietnam Export-Import Bank (Eximbank) has won the “Best Bank in Vietnam 2013”
Award of Euromoney, the world’s leading financial magazine.
The
honour was presented by Marcus H. Langston, Regional Head-Asia of Euromoney,
at a ceremony in
The
magazine has highly valued Eximbank’s position in the domestic and regional
financial market through a survey on its market capitalisation rate, revenue,
asset and pretax profits over the past year.
It was
the high growth rate that helps Eximbank become the best bank in
In May
this year, the bank was also awarded the Best Managed Bank in Vietnam 2013
and the Asian Banker Leadership Achievement Award by the Asian Banker
magazine.
Eximbank
has increased the owner’ equity to 15 trillion VND (722 million USD) from
13.3 trillion VND in 2010.-
Experience
Of Successful Start-Ups
Firms
operating in Quang Trung Software City (QTSC) share their experience of
forming start-ups and seeking customers. Competent human resources, product
quality and strong support of QTSC are what ensure their success.
Currently
staffed with 100 employees, half working in the
Nguyen
Thi Phuong Thao, CEO of DIGI-TEXX, says her company was set up in QTSC in
2003. As one of the early birds in QTSC, the company was also among the first
to supply digital data services in
Overcoming
initial difficulties, DIGI-TEXX has gradually gained significant achievements
along with the development of digital data services in
Andy
Huynh says BTM Global has carried out many programs to seek new talents and
retain old ones. In addition, the company has managed to compete with its
rivals in Asia and work faster and more effectively to adapt to the current
economic conditions of
Andy
Huynh says that even in economic crises, opportunities could be found because
companies always need technological solutions. “The IT world has changed year
after year, from policies to regulations and technology. So, our operation
network has to change,” says Huynh. “The market has ups and downs. At
present, multinationals should be thriftier and more effective. For instance,
customers need to handle inventory and need a process to handle it more
effectively, that means he or she needs our solutions to save millions of
dollars.”
To
take advantage of these opportunities, BTM Global continues to improve its
human resources. “Vietnamese staff can now work directly with customers,”
Andy Huynh says. “We have set up a process to develop our staff so that they
can generate more profits to the company.”
Nguyen
Thi Phuong Thao had the same idea, saying that companies and organizations
are more interested in advanced technology and outsourcing services to save
costs. Her company has expanded business to the U.S., Japan, Israel and
Southeast Asian nations. DIGI-TEXX is going to increase its staff to 500 with
annual growth of 30-50% aside from investment in infrastructure, advanced
equipment, space and training.
Lam
Nguyen Hai Long, deputy CEO of QTSC, says there are many requirements for a
company to have good start-ups and sustainable business performance. QTSC has
strongly assisted new businesses through incentives such as infrastructure
expenses and direct promotions. “BTM, DIGI-TEXX, Infonam, GHP, Larion and other
businesses operating in QTSC can contact our corporate team to seek support
in new markets, technology transfer, intellectual property, new customers, IT
events, business matching events or IT promotion programs to seek ways to
thrive in the current context,” he says.
Bayer
harnesses green house gas for production
Bayer
MaterialScience, a subsidiary of Bayer AG – one of the world’s largest
polymer companies – is aiming to commercialise the use of carbon dioxide as a
new raw material for plastics following a successful test phase.
The
company has started the planning process for the construction of a production
facility at its site in Dormagen, Germany, where CO2 will be used to produce
a precursor for high-quality foam. The objective is to initially make larger
quantities of this precursor available to selected processors from 2015.
According
to Bayer, the use of carbon dioxide benefits the environment. CO2 replaces
the use of fossil raw materials such as petroleum, and the German company
expects the new process to provide economic advantages over conventional
production methods.
“After
successfully completing the test phase, we are now launching stage 2 with the
target of commercialising the product,” said Patrick Thomas, chief executive
officer of Bayer MaterialScience, adding that the first use of the new
CO2-based flexible foam will be for the production of mattresses.
“CO2
is taking on a new light. The waste gas is turning into a useful and
profitable raw material. That makes us one of the first companies worldwide
to take an entirely different approach to the production of high-quality
foams,” said Thomas.
The
planned production facility in Dormagen will have a capacity of several
thousand metric tonnes. “This will not be enough to accommodate market demand,
of course. It is Bayer’s patent-registered technology and we have not yet
decided to be the exclusive producer of this innovative polyol. Licencing
might also be a possibility,” he added.
With
2012 sales of 11.5 billion euros, Bayer MaterialScience is among the world’s
largest polymer companies. Business activities are focused on the manufacture
of high-tech polymer materials and the development of innovative solutions
for products used in car manufacturing, electrical goods and electronics,
construction and sports and leisure industries.
Bayer
collaborated with partners from industry and academia to develop the process,
which has been tested intensively over the last two years. As part of the
publicly funded Dream Production research project – a pilot plant at Bayer’s
main site in Leverkusen produced smaller quantities of the precursor polyol,
in which CO2 was chemically bound.
The
substance is used for the production of polyurethane foam. This high-quality
material can be found in many everyday items, including upholstered
furniture, automotive parts, refrigeration equipment and insulation material
for buildings. In internal tests, the new foams show at least the same high
quality as conventional material based entirely on fossil fuels.
Steel
price picks up on power price hike
Construction
steel price increased VND150,000 per ton on Monday under the impact of rising
input costs, including higher electricity and fuel bills, said builders and
steel dealers and manufacturers in HCMC.
Do Duy
Thai, general director of Viet Steel Corporation, known for Pomina Steel,
said: “Although the demand for steel has not improved much, higher transport
costs, power prices and material prices force us to hike steel price rather
than suffering losses.”
Representative
of a steel outlet named Vinh Hung in Go Vap District said the retail price of
construction steel in the city was about VND14.9 million per ton. Thus,
VND150,000 is just a slight rise and will have no major impact on the
purchasing power, he predicted.
The
Vietnam Steel Association (VSA) informed its members in the first seven
months of the year sold around 2.6 million tons of construction steel, up 3%
year-on-year.
VSA
General Secretary Dinh Huy Tam remarked construction steel consumption began
to improve in June as the economy gradually picked up steam, interest rates
went down and many property projects were restarted.
* Some
33.6 million tons of cement was sold in the first seven months, up 7%
year-on-year, with cement and clinker exports picking up 50% to 6.7 million
tons, said an official from the Ministry of Construction.
Talking
to the Daily on Monday, Le Van Toi, head of the Building Materials Department
under the construction ministry, informed 2.3 million tons of cement and 4.4
million tons of clinker had been exported in January-July, an increase of 50%
over the same period last year. These products were mainly sold to the Middle
East,
Currently,
the local cement industry still has around 2.6 million tons of unsold
products, mainly clinker. This inventory level is not worrisome as it is
equivalent to the quantity of materials for 12-14 days of production only,
said Toi.
No
cement price fluctuations were recorded in the first seven months of the year
although the prices of coal, electricity and fuel and financing costs
remained high, causing manufacturers many difficulties, according to the
construction ministry.
Some
products of Ha Tien Cement and Holcim on Monday retailed at
VND800,000-820,000 per bag of 50 kilos. This price level has been unchanged
in recent months.
The
total capacity of the local cement industry is now approximately 66 million
tons per year. Total cement consumption in 2013 is estimated at 56-57 million
tons.
Source:
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Bảy, 17 tháng 8, 2013
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