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BUSINESS
IN BRIEF 10/5
Local banks
urged to get tough on money laundering
Commercial banks
should mitigate business risks and ensure their reputations by strictly
implementing the Government's regulations on the prevention of money
laundering and terrorist financing, heard a seminar held in
Effective
deployment of measures to fight money laundering and terrorist financing was
essential to banks in international operation, Nguyen Van Ngoc, director of
the State Bank of
The Vietnamese
Government's laws to fight money laundering and financing for terrorists
became effective in January and October last year, respectively, Ngoc said.
Most banks have
issued internal regulations on anti-money laundering and terrorist financing
in line with the Government's Decree 74 on AML released in 2005, he told the
seminar, which was organised by the Viet Nam Banks Association and technology
consulting firm Komtek.
However, banks
should carefully study current regulations and international standards to
help them map out appropriate internal regulations for the effective
deployment of anti-money laundering methods, Ngoc said.
In addition, banks
should improve training for their staff, especially those who work directly
with customers, to raise their awareness of AML issues and enhance their
ability to detect suspicious transactions involved in money laundering and
terrorist financing.
In addition,
updating customer information is an important step to detect behavior related
to money laundering.
"Banks should
select the appropriate information technology solutions to filter and analyse
transactions in an aim to prevent and fight money laundering and other
risks," he said.
Filtering software
can help banks recognise those on black lists and AML risks, he added.
Moreover, he said
banks must issue daily reports of large value transactions (equal to or
greater than VND300 million or US$14,285) to the State Bank of
Jeremy Chan, regional
business development director of Fircosoft, said that AML was an important
requirement by global regulators.
The CEO of Aub
Chapman Consulting Service Co, Aub Chapman, said that the sharing of
information by peers across the industry would help regulators and contribute
to the national interest.
"Document what
you are doing so you can demonstrate what you have done," he said,
adding that AML risk management should remain relevant to the bank's business
and money laundering risks.
Beer
production continues to bubble
Beer production in
the first four months of 2014 reached 873.5 million litres, 4.5 per cent
higher than the same period last year, reported the Ministry of Industry and
Trade.
In April alone, the
production grew by 26.5 per cent compared with that in March, totalling 240.8
million litres. Of this figure, Ha Noi beer brand of Habeco produced 40
million litres, a 113.7 per cent month-on-month increase, and Sabeco's Sai
Gon beer brand produced 107.3 million litres, up by 19.5 per cent compared
with the production in March.
The ministry asked
the manufacturers to enhance productivity, improve quality and improve
branding and marketing activities, especially in the tourist locations in
order to raise sales and revenue.
The competition
among domestic and foreign brewers is on the rise in
Despite a high
import tax of 45 per cent coupled with other taxes, local consumers are able
to still lay their hands on dozens of imported beer brands, which are turning
the beer market into a red competition ground.
Marc Faber
to address investment forum in HCM City
Leading Swiss investor
and publisher Marc Faber will deliver a keynote speech at the Vientam
Investment Forum 2014 (VIF) in
Marc Faber, the
publisher of the monthly Gloom Boom & Doom Report and author of Amazon’s
bestseller Tomorrow’s Gold:
Other key speakers,
who have considerable investment experience in
VIF 2014, under the
auspices of the Ministry of Planning and Ivnestment, will seek opportunities
to invest in emerging markets, including
The organizing
board will implement a Business Matching programme,to help Vietnamese
enterprises to familiarize themselves with exchange cooperation opportunities
with international investment funds.
Exports to
With the impressive
export recovery, the outlook for exports to the EU powerhouse appears to be
brighter than last year, say leading market analysts.
Despite a 24.1%
fall in value, telephones and components led the export items, raking in
US$301.58 million, accounting for more than 20% of the total.
Coffee ranked
second, fetching US$161.84 million, a year-on-year rise of 21.9%.
Garments came in
third at US$153.64 million, up 17.4%.
Other products
achieving high export growth included machinery, equipment and tools (up
55.2%), means of transport and spare parts (up 74.2%), rubber products (up
74.2%), and fruit and vegetables (up 31.3%).
On the downside,
agro-forestry products saw a decline in export value including pepper (down
58.7%), ceramics (down 33.7%), rubber (down 41.8%) and cashew nuts (down
23.1%).
RoK company
joins social housing market
The
As many as 25,000
flats will be constructed to benefit low-income earners in
The biggest project
will be an integrated urban area in
NHO Chairman
Lawrence Tham confirmed that NHO will market 100,000 flats in the next 10
years as committed to the Ministry of Construction.
He revealed the
company will offer its property products at a reasonable price of around VND9
million/m2 on average.
The Asian-Oceanian
Computing Industry Organisation (ASOCIO) ICT Summit 2014, the biggest ICT
event in Asia and Oceania, is set to take place in
The event, to be
held in
At the press
meeting in
The application of
ICT in agriculture will introduce new technologies as well as information on
markets and prices, which will help farmers, he added.
The event is
expected to draw 700 international delegates, including 250 international
leaders from ICT associations and leading groups in 30 countries. It will
include conferences, special seminars, exhibitions and meetings among
businesses.
The meeting of the
ASOCIO Council and the Japanese ICT Day 2014 will also be held on the
occasion.
Techcombank
receives top awards
The Technological
and Commercial Joint-Stock Bank (Techcombank) has recently been voted as “the
best commercial bank”, “the best retail bank”, “the best internet bank” and
“the best customer service bank” in
This is the first
time the bank has simultaneously won the four awards from the UK-based Global
Banking & Finance Review, the world’s leading banking-financial magazine.
The prizes testify
to the bank’s commitment to continuously improving the banking technology
platform in order to better the quality of its services, thus meeting the
increasing demand of customers.
The bank has been
evaluated for its investment in developing technological infrastructure with
an average US$15 million per year.
With this
investment, the bank has met criteria on bank transactions such as fast
growing branch networks, and pre-eminent service quality.
Techcombank has
previously won a series of titles, such as the eAsia Award 2013 Prize for
“e-commerce solutions in order to narrow the digital divide”. It was named
“the Best Internet Bank of
The bank has
developed a nationwide network with more than 315 branches and transaction
sites, connecting with more than 12,000 ATM machines in the BankNet and
Smartlink systems and more than 2,000 card acceptance points.
Currently, more
than 3.3 million individuals and over 45,000 businesses are using
Techcombank’s services.
Dutch
businesses seek cooperative opportunities in Mekong Delta
Businesses from the
Mekong Delta region and the
Dutch Consul
General in HCM City Simon Van Der Burg said that the event opened up huge
opportunities for cooperation between businesses of both nations in the
future.
According to the
Vietnam Chamber of Commerce and Industry (VCCI) Can Tho branch the
At present, the
The
Earlier the same
day, in a meeting with municipal leaders, the consul general expressed his
wish to cooperate with the locality in fields such as energy saving, water
resource improvement, waste water treatment and development of clean
agriculture.
Addressing the
seminar, the Cambodian Minister of Tourism, Thong Khon, highlighted
Minister Thong Khon
urged Vietnamese businesses to boost cooperation with Cambodian partners,
especially in the tourism sector in which both nations have great potential
for stronger development.
Vice chairwoman of
HCM City’s People Committee Nguyen Thi Hong emphasised that HCM City wants to
play an active role in fostering traditional friendship and comprehensive
cooperation between Vietnam and Cambodia, specifically in the economic field.
Over the years,
At the seminar,
businesses shared experiences and investment information and learnt about the
need for investment cooperation.
They also asked
relevant agencies to help remove investment barriers to boost trade promotion
activities, thus making economic and trade ties commensurate with the two
countries’ great potential.
Increased
opportunities for investors in support industry
More and more
companies are keen to invest in
Duangdej
Yuaikwamdee, Executive Director of
Reedtradex -
ASEAN's leading exhibition organiser, signed an agreement with Hanoi Hanoi’s
Department for Industry and Trade for contract of the two events, which will
take place at Hanoi-based
Local industrial
producers are expected to seize the opportunity to approach latest
innovations, state-of-the-art solutions and services on offer by 200 foreign
firms at the expo.
There will be the
chance to seek customers and trade partners, and network with suppliers for
better control of demand for imported industrial components.
Duangdej
Yuaikwamdee said
He spoke highly of
According to
Vietnam Custom statistics,
Boom in
garment and textile exports to the US
The American
Chamber of Commerce in
Amcham has also
forecast that
Amcham quoted the
US Department of Commerce as saying that
The chamber
projects that the US garment and textile imports from Vietnam are expected to
reach US$10.5 billion in 2015, US$12.5 billion in 2017, US$14.3 billion in
2019, US$16.2 billion in 2021, US$18 billion in 2023 and US$19.9 billion in
2025.
At present,
US
increases tra imports in Q1
The
Dung said earlier
this week at a briefing of the association and Cuu Long (Mekong) delta
provinces and cities in Can Tho City that
The
In the first
quarter, the export value of tra fish had a year-on-year surge of 15.25 per
cent to $84 million in the US market while a year-on-year fall of 13.13 per
cent to $82.87 million in the EU.
Meanwhile, the
export value of tra fish to
At the meeting, a
representative of the Directorate of Fisheries pointed out that by the end of
April, the Cuu Long Delta region had harvested 253,000 tonnes of tra fish and
had a total area of 2,814 hectares for tra fish farming.
The VASEP reported
that early this month, the price of tra fish for export processing reduced to
VND24,500 per kilogram after increasing to VND24,600–25,600 per kilogram in
March and April.
However, it was
still higher than that of VND22,600–23,200 per kilogram in early this year
because this was not the time for harvesting tra fish, the association
stated.
Dung remarked that
because the price is high, farmers will profit from growing tra fish, but the
farmers have not yet increased investment in tra fish because the price is
unstable.
He noted that in
the past, the Government had policies to solve difficulties in production and
trading of tra fish for enterprises, including credit loosening policies.
Businesses expect
these policies to be continued next year so that they can further invest in
improving quality and quantities of tra fish and ensure sustainable
development of the industry in the coming years.
Tech firms
showcase new imaging kit
Three separate
exhibitions related to imaging opened yesterday at a single venue in
They are Viet Nam
International Photo and
Some famous names
like Canon, Pentax, HTC, Oppo, Rang Dong, and Dien Quang are present at the
three-day event.
The exhibitions
provide companies an opportunity to show off their most modern and advanced
technologies and equipment such as LED/OLED products and components, LED/OLED
lighting and applications, cameras and camcorders, lenses for them,
headphones and earphones, and amplifiers.
They also offer
manufacturers and distributors of the products to look for partners in
"The event
will bring to domestic businesses, scientists, and others interested a
broader and more practical picture of hi-tech and modern industries and help
forecast development trends," Vu Van Khiem, general director of the
Ministry of Science and Technology's Department for Southern Affairs, said.
Nick Yoshida,
president and CEO of Canon Marketing Viet Nam, said: "Digital imaging is
truly flourishing, particularly in
"We are happy
and excited to find so many photographers, ladies and men, young and mature,
from professionals to enthusiasts and beginners, who are expressing their
passion and creativity, using our extensive range of imaging products, from
input to output."
The three-day
exhibitions are on at the Sai Gon Exhibition Convention Centre in District 7
and hope to welcome 30,000 visitors.
Rubber
firms ask for tax break
The Viet Nam Rubber
Association asked the concerned ministries this week to exempt the rubber
industry from paying the 3 per cent export tax.
According to the
association, it made the request because of the difficulties the industry is
facing due to a sharp drop in prices and demand in the world market.
According to the
Ministry of Agriculture and Rural Development, the rubber industry saw a
year-on-year decline of 23.1 per cent in export volume to 144,000 tonnes, and
a fall of 42 per cent in the export value to US$292 million in the first
quarter of this year.
Over the last few
months, the export price of local rubber dropped several times to reach as
low as VND40 million, or $1,900, per tonne recently, which was half the 2011
price, because of oversupply in the world market.
Farmers and
enterprises producing rubber have faced major difficulties in production and
business due to the decline in exports. There are no signs of the industry
making a rebound yet.
Banh Manh Duc from
the Hoa Binh Rubber Company told Dau tu chung khoan (Securities Investment)
newspaper that with falling rubber prices, most of the rubber companies have
reduced their targets this year to lower than the 2013 target.
The Hoa Binh Rubber
Company's net revenue in Q1 this year declined by 45.7 per cent to only VND46
billion ($2.19 million), Duc said.
The Phuoc Hoa
Rubber Company also expects to gain a profit of only VND211.27 billion (
$10.06 million) this year, which is down 43.14 per cent from last year,
according to the newspaper.
Although the global
demand for natural rubber is forecast to grow by 4 per cent in 2014, the
market expects to see a surplus of 373,000 tonnes this year, a fourth year of
oversupply.
Worries over the
economic growth and the demand from
The country can
export only roughly 1 million tonnes of rubber in 2014, down 7 to 10 per cent
against last year, but the export value can drop sharply by 25 to 30 per cent
to total between $1.8billion to $2 billion, as the prices could fall by 16.3
per cent from 2013, according to the association.
Phu My
Fertiliser to pay $45m in dividends
Phu My Fertiliser
Corp (DPM) next month will spend VND950 billion (US$45 million) to pay out
dividends despite poor business result in the first quarter of this year.
DPM, one of the top
30 shares by market value and liquidity on the HCM City Stock Exchange, will
pay a cash dividend at the rate of 25 per cent. The deadline for shareholders
to register to participate in the payout is May 20, with the payment to be
made on June 13.
The company has
already paid a cash dividend at the rate of 25 per cent, lifting the total
cash dividend of 2013 to 50 per cent, equivalent to VND1.9 trillion ($90
million).
The fertiliser
company has also just announced consolidated business results from the first
three months of this year, with its net profit reaching just VND381 billion
($18 million), down nearly 46 per cent compared to the same period last year.
Its revenue also
took a hit of 13.22 per cent during the period, reaching more than VND2.5
trillion ($118.5 million).
The firm attributed
the fall to lower sale prices compared to the first quarter of last year,
while volatility on the financial market slashed finance-related revenues by
40 per cent during the period.
The company has set
modest business targets for this year and has expressed concerns with
volatility in the fertiliser market. Its total revenue is projected at VND8.7
trillion ($412.3 million) while net profit is expected to reach VND1.219
trillion ($57.8 million), down 19.5 per cent in revenue and 45 per cent in
profit from last year. The uncertainty has also led the company to trim its
dividend rate to just 25 per cent this year.
Local banks
fund PVD $160m to purchase oil rig
Three domestic
commercial banks have signed contracts worth US$158.7 million with
PetroVietnam Drilling & Well Services Corporation to buy the jack-up rig
PV Drilling VI on Tuesday.
They are the Bank
for Foreign Trade of Viet Nam (Vietcombank), the Viet Nam Export and Import
Bank (Eximbank) and the Southeast Asia Commercial Joint Stock Bank (SeABank).
Singapore-based PV
Drilling Overseas, a subsidiary of PVD, will be in charge of rig construction
project worth $226.7 million.
PV Drilling
Overseas said the rig, which is expected to go into operation in March 2015,
is capable of operating in depths of up to 400 feet (121.92m) underwater and
could drill up to a maximum depth of 30,000 ft (9,144m). The rig can hold up
to 150 people and is designed to allow aircraft such as Sikorsky, S61N and
special Mi-17.
Former
Agribank chairman joins national finance advisers
Central Economic
Committee deputy head Nguyen Ngoc Bao has been appointed as a member of the
National Advisory Council for Financial and Monetary Policies by Prime
Minister Nguyen Tan Dung.
Bao replaces the
committee's director, Vuong Dinh Hue, in the council. He was formerly the
chairman of the Bank for Agriculture and Rural Development (Agribank).
The advisory
council is chaired by Deputy Prime Minister Vu Van Ninh, with 29 members. Its
vice chairmen are State Bank of
The council is
responsible for proposing important policies and projects to the Government
on financial and monetary issues. It also gives professional advice to the
Prime Minister on related operational measures.
Science
week opens in Da Nang
The central city
hosted the nation's first National Science and Technology Week yesterday.
The event provided
a forum for Vietnamese scientists, for students to display their innovations
and for foreign experts to share their experiences and update themselves on
technology and research.
"It's not only
an event for Vietnamese scientists, but also for younger people," Deputy
Minister of Science and Technology, Tran Quoc Khanh, said.
"
Recent statistics
show that
The programme,
which provides Official Development Assistance from
The first phase of
the programme was launched in 2009 in Ha Noi, Hai Phong,
National Science
and Technology Week will continue with workshops and conferences today and
tomorrow.
Scientists from the
More
opportunities for producers in support industry
The Industrial Components
and Subcontracting Vietnam (ICSV) Exhibition 2014 and the Vietnam
Manufacturing Expo 2014 slated for August 27-29 in
Vice Director of
the Hanoi Department of Industry and Trade Dao Thu Vinh made the assessment
at a press conference in the city on May 8.
She added both
events are expected to help boost the transfer of advanced and energy-saving
technologies between producers operating in the support industry, which
contributes to increasing benefits of industrial products and reducing
production costs.
Through the expos,
support-industry enterprises based in
Executive Director
of the Thailand-based Reed Tradex Co., Ltd Duangdej Yuaikwamdee said local
industrial producers are expected to seize the opportunity to approach the
latest innovations, solutions and services offered by 200 participating firms
at the expos.
Meanwhile, the
exhibitions will be good chances for foreign investors to seek Vietnamese
partners and grasp information on their demand for imported spare parts, he
added.
Representatives
from Reedtradex, one of ASEAN’s leading exhibition organisers, and the
municipal department signed a contract for the expos and discussed ways to
enhance trading activities through such events.
According to the
General Department of Vietnam Customs, the country earned 529 million USD in
January from the export of machinery, equipment and vehicle spare parts, a
year-on-year hike of 15.61 percent.
EVN to
ensure sufficient water for agricultural production
Electricity of
Vietnam (EVN) has pledged to ensure enough water for agricultural production
and domestic use in the central and Central Highlands regions during summer
and the summer-fall crop, which begins in April and ends in August.
The corporation
recently organised working sessions with representatives from the Department
of Agriculture and Rural Development, hydropower plants and relevant agencies
in Phu Yen, Quang Nam, Ninh Thuan and Binh Thuan provinces in order to adjust
the supply of water from reservoirs to lowlands.
Accordingly, from
now until August, reservoirs at local hydropower plants will discharge water
through the generation of electricity at least 12 hours a day. The discharge
will depend on the water demands of local people.
EVN said that in
May it will utilise thermoelectricity resources to ensure the power supply
for the southern region and effectively operate hydropower plants in the
regions.
In the first four
months of 2014, the country’s output of commercial electricity stood at 38.5
billion kWh, up 8.31 percent from the same period last year.
The Mekong Delta
city of
To that end, the
city has further publicised energy saving measures, such as avoiding the use
of high-consuming devices during peak hours and using compact fluorescent
lamps and solar water heaters.
Local agencies,
restaurants and trade centres have also been asked to cut down decorative and
advertising lights.
In addition, the
Can Tho Electricity Company has constructed more 110kV power lines and
distribution networks and repaired other facilities to reduce the power loss
rate.
Dutch
companies eye investment opportunities in Mekong Delta
A delegation of
Dutch enterprises had a meeting in Can Tho city on May 8 with representatives
from Mekong Delta businesses to seek investment opportunities in the region.
The Dutch companies
mainly operate in riverbed and seabed dredging activities, wastewater
treatment and farm produce quality control.
Dutch Consul
General in Ho Chi Minh City Simon Van der Burg said that the meeting offered
a chance for the two sides’ businesses to seek partners and exchange demands
for cooperation.
According to the
Vietnam Chamber of Commerce and Industry, the
In the Mekong Delta
region, the
The same day, the
delegation was received by senior officials of Can Tho city.
Chairman of the
municipal People’s Committee Le Hung Dung pledged that all issues relating to
administrative procedures will be dealt with in a maximum of five working
days.
Techcombank
receives top awards
The Technological
and Commercial Joint-Stock Bank (Techcombank) has recently been voted as “the
b est commercial bank”, “the best retail bank”, “the best internet bank” and
“the best customer service bank” in
This is the first
time the bank has simultaneously won the four awards from the UK-based Global
Banking & Finance Review, the world’s leading banking-financial magazine.
The prizes are the
newest evidence of the bank’s commitment to continuously improving the
banking technology platform in order to better the quality of its services,
thus meeting the increasing demand of customers.
The bank has been
evaluated for its investment in developing technological infrastructure with
an average 15 million USD per year.
With this
investment, the bank has met criteria on bank transactions such as fast
growing branch networks, and pre-eminent service quality.
Techcombank has
previously won a series of titles, such as the eAsia Award 2013 Prize for
“e-commerce solutions in order to narrow the digital divide”. It was named
“the Best Internet Bank of
The bank has
developed a nationwide network with more than 315 branches and transaction
sites, connecting with more than 12,000 ATM machines in the BankNet and
Smartlink systems and more than 2,000 card acceptance points.
Currently, more
than 3.3 million individuals and over 45,000 businesses are using
Techcombank’s services.
VietJet Air
to operate direct flights to Singapore
VietJet Air
announced at a press conference in
At the press
conference, VietJet Air Vice President Nguyen Thi Thuy Binh said that this is
the airline’s second international air route. The first one flies to
She added that
VietJet Air plans to operate other direct flights from
According to Luu
Duc Khanh, VietJet’s Managing Director,
Therefore, VietJet
Air has chosen
VietJet Air becomes
the seventh airlines operating direct flights between
According to the
Transport Ministry, the Vietnam-Singapore aviation market in 2013 reached
966,000 passengers, an increase of 1 percent over the previous year.
Interest
rates poised to fall further: paper
Local banks are
expected to cut interest rates further sometime this year as deposits have
been increasing while credit growth has remained sluggish, the Saigon Times
Daily reported.
A new round of
interest rate reductions is just a matter of time as government bond yields
and interest rates on the inter-bank market have kept falling. As of April
22, the banking system reported a deposit growth rate of 3.09 percent while
its lending inched up a mere 0.62 percent, the Daily cited the central bank
as saying.
Furthermore, there
have been no positive signs in banks’ cash flows, signaling yet another round
of interest rate cuts.
In April, the Hanoi
Stock Exchange held 19 bond auctions, raising over 13.2 trillion VND.
However, the bond volume on the primary market tumbled 62 percent against the
previous month.
Coupons hovered
around 5.58-5.69 percent per annum for two-year bonds, 6.07-6.9 percent per
annum for three-year debt papers, 7.12-7.8 percent for the five-year tenor,
and 8.7 percent for the 10-year term. They declined by 0.4 to 0.41 percentage
points per annum against March.
Since early this
year, the State Treasury has mobilized over 80.6 trillion VND from G-bond
sales. The agency is the issuer of around 90 percent of G-bonds.
However, last
week’s winning coupons of two, three and five-year G-bonds dropped 10 to 20
basic points against the week before. G-bond investors estimated that bond
yields would move flat or drop slightly in the next few weeks.
Bond yields on the
secondary market have stood at 5.6-5.8 percent, 6.07-6.3 percent and
7.12-7.25 percent per annum for tenors of two, three and five years
respectively.
Statistics of banks
showed that credit institutions did not show up at auctions on the open
market for the second straight week before the national holidays of Vietnam
Reunification Day and International Labor Day that ended on May 4.
Meanwhile, the
central bank still offered 1 trillion VND each session with a coupon of 5.5
percent per annum for the seven-day tenor. The week before the holiday also
saw no loans falling due on the open market.
Given slow credit
growth and huge surplus capital, banks have no demand to take out loans
through open market operations or purchase bonds.
Interest rates on
the inter-bank market have been in decline for short tenors while long-term
rates have remained unchanged. The overnight rate has been 1.65 percent per
annum, one week at 1.9 percent, two weeks at 2.2 percent, dropping 0.15 to
0.3 percentage points against the previous week respectively. Meanwhile, the
one-month rate has stayed unchanged at 3.35 percent per annum.
Large banks have
continued to offer loans on the open market with most transactions focusing
on tenors below one month.
VietinBank
to own over 10% of Haiphong Port
Haiphong Port One
Member Company Limited will launch an initial public offering (IPO) on May 14
and the Vietnam Bank for Industry and Trade (VietinBank) will become its
strategic partner through a 10.26% stake acquisition.
Leaders of
According to the
plan approved by Vietnam National Shipping Lines (Vinalines),
Besides a 10.26%
stake for strategic shareholder VietinBank, Haiphong Port will sell 11.51% of
the 25% shares via public auctions and the rest to its employees.
Earlier, VietinBank
wrote to the Ministry of Transport seeking approval to become the strategic
stakeholder of member ports of Vinalines when these ports went public,
starting with
Among the credit
institutions that lent to Vinalines, VietinBank is the biggest creditor.
Total debt at the holding company Vinalines amounts to around VND2.622
trillion. Most of the loans were used to purchase ships in previous years but
these ships ran at a loss.
According to an
approved asset valuation plan,
Haiphong Port
earned revenue of over VND1.5 trillion last year and saw its profit rise 13%
year-on-year to VND142 billion.
As planned in the
2014-2018 period, the port can raise its pre-tax profit to VND216 billion
this year and VND461 billion in 2018. The estimated dividend is 4% this year
and 8% in 2018.
Locally-assembled
OLED TVs to debut this quarter
South Korean
electronics firm LG plans to launch the televisions assembled in line with
organic light-emitting diode technology at its facility in the northern
province of Hung Yen in the second quarter of this year.
Earlier this year,
LG Electronics Vietnam rolled out a series of new TV models using high
technologies, including the high-end LG EA970T, a curved-screen OLED TV
model. This paper-slim model is 4.3mm thick and uses the OLED technology for
better image display.
Four months ago,
the company imported the LG 55EA9800, a curved-screen OLED TV model, for sale
in
However, the
company expects prices of OLED TVs to go down by 30% when these products are
assembled here in this market.
Ko Tae Yeon,
general director of LG Electronics Vietnam, said the company’s ambition was
to dominate the high-end TV market segment, especially for the OLED models.
Apart from the 55-inch EA970T, the company plans to market other hi-tech
models with bigger screens.
LG will also sell
14 different models of Ultra HD and Full HD TV with screens of 32 to 55
inches or 84 inches before the World Cup 2014 soccer tournament starts in
June this year as many Vietnamese take this occasion to buy new TVs.
No official prices
have been made available for these new models.
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Thứ Sáu, 9 tháng 5, 2014
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