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BUSINESS
IN BRIEF 18/5
Vice Chairman of
the Ho Chi Minh City People’s Committee Le Manh Ha on May 16 visited foreign
enterprises hit hard by the recent anti-Chinese protests, vowing that
authorities will provide them with all possible support to resume operations
as soon as possible.
At a working
session with five businesses in Binh Chieu industrial park, Ha was informed
that the park is free from looting or arson thanks to the city’s timely
response.
Business
representatives expressed hope that relevant units will respond faster to any
future contingency, possibly with the launch of a hotline.
Meanwhile in Linh
Trung 2 industrial zone, Ha toured the Taiwanese-invested Freetrend company
that was hardest-hit by the violence.
Its executives said
their firm returned to work on May 16 after a two-day shutdown. All of the
workers here want to have stable jobs and local assistance has emboldened
them to resume operations, they said.
Ha assured them
that Prime Minister Nguyen Tan Dung has directed cities and provinces to
ensure the absolute safety for foreign investors, experts and workers and
their assets.
A representative
from the municipal Department of Public Security said a series of measures
are fully in place to ensure social safety and order.
According to the Ho
Chi Minh City Export Processing and Industrial Zones Authority, 65 out of the
71 firms based in Linh Trung 1 and two processing plants had restarted
production by May 16.
The same day, over
1,000 workers in Bien Hoa 2 industrial zone in the southern
They were asked to
condemn individuals and organisations that take advantage of the situation to
sabotage national peace and unity.
At the same time,
they must keep themselves alert and avoid joining crowds that intentionally
upset the normal activities of enterprises and their staff.
Also on May 16,
seven provincial delegations met with Chinese and Taiwanese businesses in the
locality, and learnt that 90 percent of companies that halted working two
days ago have resumed their activities.
Thai Gia Vinh,
Deputy Director of the KMC company thanked the provincial authorities for
their timely interference, saying that he hopes such events will not happen
again.-
Changes to
investment, enterprise laws discussed
It is necessary to
make adjustments to existing laws in order to boost foreign investment.
Economic delegates
made the assessment at a conference held in
Addressing the
event, Deputy Minister of Planning and Investment Dang Huy Dong said
To improve the
investment climate and State agencies’ capacity in managing foreign capital,
participants agreed that attention should be placed on checking and
evaluating barriers, especially those concerning investment procedures
prescribed in the aforementioned two laws and other legal documents.
Nguyen Anh Tuan,
Editor-in-Chief of the Vietnam Investment Review, said the enforcement of the
investment and enterprise laws, both promulgated in 2005, exposed
inadequacies and shortcomings.
Specifically, some
articles of the two laws are not concrete and suitable with reality, while
several regulations do not match international norms or the country’s
commitments to its integration into the global economy, noted Tuan.
Director of the
Central Institute for Economic Management Nguyen Dinh Cung said it is vital
to restrict the withdrawal of business permits, adding that relevant agencies
should only revoke the permits when necessary.
Chairman of the
Vietnam Association of Foreign Invested Enterprises (VAFIE) Nguyen Mai said
that various difficulties in managing foreign direct investment (FDI)
enterprises will emerge if regulations on the establishment of such firms,
especially those related to fields of business and minimum capital, are not
specified.
According to
statistics released by the ministry’s
CT Group
launches dragon fruit orchard in Australia
Vietnamese CT Group
plans to create
CT signed an
agreement with the Northern Territory Government on May 9, paving the way for
its plan to grow 10,000ha of dragon fruits in the NT.
Company president
Tran Kim Chung said
Northern Territory
Minister for Mines and Energy, Hon Willem Westra van Holthe, said the project
is expected to provide jobs for an estimated 500 labourers. It will bring
about economic benefits for both sides, he added.
Unlike small farms
CT is developing in
The company aims to
become one of the world’s largest exporters of dragon fruits.
Vietnam
needs policy change to better access ODA
In a recent
interview granted to the Vietnam News Agency, Deputy Minister of Planning and
Investment Nguyen Chi Dung said that as
Therefore, between
now and 2018,
“We also need to
well prepare for the next stage when we will receive less preferential ODA,”
he noted.
It is necessary to
renew lists of projects to make them suitable to new ODA sources as well as
closely control the disbursement to ensure the effective use of this capital,
he said, adding
“It’s time for the
country to come to the negotiating table with donors to discuss the best ways
to lure and use the new source of capital,” Dung stressed.
According to the
Deputy Minister, over the past time, his ministry has closely coordinated
with donors in reviewing the implementation of projects and programmes as
well as restructuring those making slow progress.
The ministry has
also instructed agencies at all levels to inspect investment areas in order
to avoid losses, waste and other negative phenomena in the use of State
investment, including ODA and preferential loans from donors.-
Measures
sought to improve production technology
With an
increasingly competitive business environment, enterprises have to improve
their technological capabilities to increase business efficiency and labour
productivity, the Vietnam Economic News reported on May 15.
According to the
newspaper, to help technological enterprises do the job, the Ministry of
Science and Technology (MOST) has actively carried out a range of practical
activities to boost the development of scientific and technological market.
Under the impacts
of macroeconomic conditions, Foreign Direct Investment (FDI) enterprises
still showed superior capability to the domestic enterprises. They still
maintained business efficiency, expanded scales in terms of labour and
sources of capital and increased sale revenues and market shares.
One of the secrets
to success of FDI enterprises was their regular technological innovations and
changes of product designs. Statistics of the MOST showed that since 2007,
there have been 217 technology transfer contracts from FDI projects out of
total 254 contracts certified by the MOST. In addition, only 30 percent of
the domestic enterprises considered to have relatively advanced equipment.
This demanded the
domestic enterprises to innovate and master technologies soon if they want to
compete with FDI enterprises and foreign enterprises in general. Director of
Ho Chi Minh City Department of Science and Technology Phan Minh Tan said
production technology is the root of development.
The production
technologíe if being not advanced will reduce competitiveness due to higher
production costs, cause environmental pollution and damages to their brands,
which will be harmful to the enterprises if they want to expand to larger
markets worldwide.
A recent survey on
more than 650 domestic enterprises conducted by the Vietnam Chamber of
Commerce and Industry (VCCI) showed that the costs of technological research,
applications and transfers are on the increase. On average, each enterprise
now spends about 24 billion VND on technological research and transfers, 10
times higher than the figure in 2007.
General Director of
Mechanization Electrification Construction Corporation - Joint Stock Company
Le Van An said in the current market-oriented economy with fierce
competition, if domestic enterprises want to exist and grow, they have to do
well two jobs: choosing product lines which have large demand and mastering
technologies to create the products with the best quality and most
competitive prices possible.
Director of Thuan
Hoa Co, Ltd Tran Thi Thuan Hoa also said the company always regards
scientific and technological applications as momentum to improve production
efficiency and promote development. It invested 25 billion VND to build
closed modern breeding facilities which ensure environmental requirements.
Here, the animal droppings are used to make gas for cooking, keeping warm and
generating electricity to serve production. “Investment in science and
technology always makes profit, the company earns an average revenue of 60
billion VND a year,” she said.
Many economic
experts evaluated that
Before this
circumstance, the MOST has actively implemented practical activities to boost
the scientific and technological market such as organizing technology and
equipment trade fairs, technology exchanges and tech-marts, bringing high
efficiency. For example, the Techmart Dak Nong 2013 attracted 225 domestic
and international companies introducing 1,500 technologies and products and
signing 1,337 sales contracts worth of more than 156 billion VND.
From the success of
the connecting technology supply-demand activities in 2013 in the Red Delta
and Mekong Delta regions, the MOST has conducted surveys and found out that
the demand for technologies are quite large with over 1,000 enterprises and
organizations. The surveys also determined 300 supplies of domestic and
foreign technologies ready for transfers.
However, to heat up
the technology market, the state should create incentive mechanisms and
policies, especially in terms of financial assistance as most Vietnamese
enterprises are small and medium-sized ones, of those many lack capital to
undertake comprehensive investment in production lines and resulted in slow
technological innovation.-
New regulations target multilevel marketing
The government has
issued a decree on multilevel marketing with stricter regulations in a move
to better manage the business model.
Under the Decree No
42/2014/ND-CP, which will take effect from July 1, multilevel marketing firms
must have a charter capital of at least VND10 billion (US$454,545).
The firms are also
required to have a collateral of VND5 billion ($227,272) in banks. The
collateral will be used to pay the financial obligations of the firms in case
the firms have to close down.
The new regulation
also bans multilevel marketing firms from direct selling as pyramid schemes
besides banning the firms from requiring people to pay any money or buy the
firms' unauthorised goods to participate in the firms' business.
Multilevel
marketing sales people are also not allowed to provide wrong or dubious
information to cheat people.
According to the new
decree, the Ministry of Industry and Trade (MoIT) will take responsibility of
granting the business licences for multilevel marketing firms, instead of
municipal and provincial departments of Industry and Trade as was done
previously.
Licensed multilevel
marketing firms that have no operations or have stopped operations for 12
consecutive months will have their business licences revoked.
According to the
MoIT, after 10 years of presence in
The multilevel
marketing business model is familiar in other countries; however, it is a
relatively new business in
Study:
firms need to adapt to more mobile workforce
Many companies
needed to re-analyse their information technology (IT) policies because of
business demands and a more mobile workforce, said the VMware MeConomy 2014
study.
The VMware Inc, the
global leader in virtualisation and cloud infrastructure which organised the
study, said the results revealed that in
Over 80 per cent of
them believed that they could stay efficient while working outside the office
for at least 50 per cent of the time.
This reflects a new
reality where more employees are demanding a chance to work away from the
office, at any time and on any device.
"As we look
around the industry, the mobile is changing the way we work and businesses
need to evolve immediately. Companies will face a challenging time in this
new mobile cloud era, where the business expectations of IT accelerates exponentially
with the increase in new mobile consumers in the workforce, millions of new
applications and services despite a stagnant IT budget," said Huynh Phuc
Yem Quan, Country Manager, VMware Viet Nam.
With multiple
access points such as laptops, tablets and smartphones, mobile workers are
putting pressure on IT departments to deliver a high level of service and
access without compromise.
Employees surveyed
in
For IT support,
they were eager to have guidelines to access the corporate IT systems by
using personal devices (66 per cent); faster network access (62 per cent) and
equipment which work; quick and real-time response to their IT request; and
advocate a more positive attitude and support towards mobile workers (52 per cent).
To help IT support
mobile workers better, VMware recently announced VMware Horizon 6, an updated
portfolio of end-user computing solutions designed to further simplify the
use and management of virtual desktops and applications through a single platform.
The MeConomy study
was conducted by Acorn Marketing and Research Consultants. Approximately
2,455 people between the ages of 18 and 64 participated in the survey. All
respondents work in organisations having more than 1,000 staff globally and
work for least 15 hours per week. The survey covered 14 markets across
UOB ready
to acquire GP Bank
Singapore's United
Overseas Bank (UOB) is close to sealing a deal to buy 100 per cent stake in
the Vietnamese small-lender GP Bank.
Newswire
Baodautu.vn reported this, quoting a board member of the National Monetary
Policy Consulting Committee who spoke about the deal.
While the price tag
of the deal is yet to be disclosed, industry experts said that the amount was
probably not a large one.
"GP Bank is
one of the nine weak banks which once ran an estimated bad debt higher than their
charter capital. Buying the bank means taking over a large amount of debt;
they would never pay a large amount," an expert told Baodautu.vn.
GP Bank was
developed from the Ninh Binh Rural Commercial Joint Stock Bank to become an
urban commercial joint stock bank. It has been operating in Ha Noi since
November 7, 2005. One of nine ailing banks which were forced by the central
bank to restructure, GP Bank has a head office and nearly 80 branches and
transaction sites nationwide, together with a workforce of more than 1,400.
The deal will be
completed if it gets the Prime Minister's approval.
The Decree issued
on January 3, 2014 by the government said that in special cases of
restructuring weak credit institutions and to ensure the safety of the
banking system, the prime minister will decide the foreign ownership in a
local bank. The total stake of foreign investors could exceed the 20 per cent
limit for strategic investors or 30 per cent of the total room for foreign
investors in each specific case.
"Banks which
have no choice but to do mergers and acquisitions normally fail to secure
equity and manage debts. Therefore, they have to accept capital losses,"
independent expert Nguyen Chi Hieu said.
Hieu suggested that
leaders of weak banks which are on the brink of getting involved with mergers
and acquisitions should understand their own situations in order to decide
the right price for investors, or they won't be able to attract investors
with a huge amount of debts.
Firms sign
contracts at exposition
Eighteen contracts,
worth VND70 billion (US$3.33 million), were signed at an exposition, which
closed its door in northern
TechDemo 2014
welcomed the participation of 70 domestic and foreign units operating in
machinery and automation; agro-forestry-fishery processing; biological and
chemical technologies; and pharmaceuticals.
Minister of Science
and Technology Nguyen Quan described the two-day event as a good opportunity
for the participating units to update knowledge on cutting-edge technologies
and equipment, foster technological transfer and application as well as
introduce their technologies to domestic and international visitors.
During the event,
businesses also engaged in seminars, in which they shared views on current
technological supply and demand in the northern region.
They also exchanged
experience in transferring and receiving technological research outcomes
while proposing solutions for obstacles hindering the process.
The event was
co-organised by the Ministry of Science and Technology and the Bac Giang
provincial People's Committee.
The previous event,
TechDemo 2013 in Thai Binh, witnessed 16 contracts worth over VND147 billion
($7 million) signed between the participating units.
Petrol
traders can use stabilisation funds
Fuel wholesalers
could use up to VND200 for each litre of petroleum and VND180-160 for every
litre of diesel and oil respectively from the price stabilisation fund to
cover their losses and keep the current retail prices unchanged.
This is a decision
of the Ministry of Finance given in Dispatch 6384/BTC-QLG on fuel price
management announced on Thursday.
Head of the
ministry's Price Management Department Nguyen Anh Tuan said the world petrol
prices have seen complicated changes in the past few days. Fuel traders have
reported losses of VND215 per litre of gasoline, VND189 per litre of diesel
and VND167 per litre of oil.
This has been the
second time this month the ministry asked petroleum wholesalers to maintain
retail prices stable.
In the beginning of
last month, the ministry asked the traders reduced retail selling prices of
diesel, oil and mazut while keep the petroleum prices unchanged.
On March 19th,
domestic prices of retail petrol were raised by VND180 per litre, bringing
the price per litre of RON 92 to VND24,690 and the price of RON 95 to
VND25,190.
Diesel prices were
increased by VND70 per litre, with 0.05S diesel priced at VND22,840.
Petrol
re-exports allowed
Prime Minister
Nguyen Tan Dung has allowed to continue implementing a pilot mechanism of
temporary imports and re-exports of oil and petrol to
The pilot programme
would be ended by the end of 2015.
The temporary
import for re-export of petrol from Dung Quat Oil Refinery Plant to
The Ministry of
Industry and Trade in November 2013 proposed to continue apply the mechanism
after finishing the first phase of the pilot in 2012.
The Government
assigned the Viet Nam National Petroleum Group and Petrovietnam Oil (PV Oil)
to implement the temporary imports for re-exports from June to December 2012.
According to
reports from PV Oil, the total of temporary imports in the period was 24,482
tonnes worth US$23.56 million while the total of re-export was 6,212 tonnes
worth $6 million.
Masan Group
sees profits jump
Masan Group, listed
on the HCM City Stock Exchange as MSN, posted an aggregated profit of
VND1.082 trillion, or US$51.5 million, in the first quarter of this year.
This is double the
profit made in the same period last year.
According to the
company's Q1 earnings,
The turnover mainly
came from Masan Consumer which contributed VND2.275 trillion, or $108.3
million, a 48 per cent increase due to the growth in sales of instant food,
spices and beverages.
Masan Consumer, a
major member of the group, earned a net profit of VND492 billion, or $23.4
million, in Q1, nearly twice as high of the profit made during 2013's first
quarter.
Nui Phao Mine, in
which Masan Group has invested millions of dollars, started to generate
revenue from the beginning of March. This was expected to help
In Q1 this year,
Nui Phao Mine brought
Notably,
Masan Group is one
of the largest private companies in
As of the end of
March,
The shares of
Commercial
banks raise US dollar rate
Most of the
commercial banks raised the US dollar exchange rate rapidly yesterday, while
the gold prices stayed flat after reaching a one-month high recently.
While the State
Bank of
At 11am,
Vietcombank added another VND50 to each dollar's selling rate, raising it to
VND21,175 and was buying it for VND21,120, which was VND25 higher than
Thursday's rate.
The rates in the
other commercials banks were also increased. The selling and buying rates
were VND21,120 and VND21,170 respectively, in the Bank for Investment and
Development of Viet Nam; and VND21,130 and VND21,180 respectively in
VietinBank and Asia Commercial Bank.
According to the
central bank, commercial banks were allowed to apply an effective exchange
rate +/-1% from the official exchange rate set by the central bank.
Accordingly, the ceiling price for a dollar yesterday was VND21,246.
In the open market,
traders added more than VND100 for each dollar compared to May 15. At the
most popular forex spot in Ha Noi, the Quoc Trinh Jewellery Company in
On Thursday, one
tael of the State-owned SJC gold was selling for VND36.55 million, or $1,740,
at the Saigon Jewellery Company. The rate was the same as the day before.
The gold trading
floor Kitco.com put the gold price at $1,296.9 per ounce or $1,562 per tael.
Thus, each tael of gold in
Bulldozers get
rolling on roads in Ha Noi
The road will
stretch from Dai Kim ward, Hoang Mai District to La Phuc ward of Ha Dong
District. The project is expected to be completed within 36 months with a
total investment of VND1.47 trillion (US$71 million).
Bitexco got the
greenlight to invest in the project in October last year and officially
signed the contract to develop the project in the BT method last month.
VietJet
offers huge promotion for new route
VietJet is
providing huge promotion for its new international route from
The super cheap
tickets will be available from today till Tuesday next week for flights
operating between May 23 and December 31 (excluding public holidays in
The airline's new
route was officially launched on May 23, with seven flights per week.
SCIC to buy
one million FPT shares
The SCIC Investment
Company Limited announced on Tuesday that it would buy one million shares of
the information technology firm FPT between May 19 and June 17.
The company is an
affiliate of the State Capital Investment Corporation (SCIC), and if the
transaction is successful, it will hold 0.36 per cent of all FPT shares in
circulation.
SCIC holds nearly
20.8 million FPT shares, or 6.05 per cent of the firm's total equity. It will
divest from FPT by 2015, following a restructuring programme adopted by the
Government late last year.
FPT share prices
have fallen by about 30 per cent since the beginning of April, down from
about VND54,000, or US$2.57, to VND41,500, or $1.98, per share on the HCM
City Stock Exchange. Liquidity was significant with around a million shares
changing hands per day.
SCIC Investment
chairman Le Song Lai is the SCIC deputy general director and a member of the
FPT management board.
Quang Ninh
Port Company to launch IPO
The Quang Ninh Port
Company plans to launch its initial public offering (IPO) at the Ha Noi Stock
Exchange on May 23.
More than 11.3
million shares will be sold in the IPO, accounting for 22.62 per cent of the
company's registered capital, at an initial price of VND11,000, or US$0.52,
per share.
The company was
established in 1977 and has been under the ownership of the Vietnam National
Shipping Lines (Vinalines) since 2007.
The company's main
activities include the loading and unloading of cargo, renting out of quays
and wharves and supplying warehouse and pilotage services.
Between 60 per cent
and 70 per cent of the company's revenue comes from the loading and unloading
of cargo service.
The port, located
in the Ha Long Bay area, can handle vessels with a capacity of up to 75,000
tonnes.
The company has
registered capital of nearly VND500.5 billion, or $28.8 million, of which the
State owns 75 per cent.
Contest for
digital start-ups held in HCM City
The Viet Nam
Digital Challenge competition was launched on May 15 in
Organised by
Emerald Consulting Ltd and Startup.vn, the competition is open to everyone
working in information technology, marketing, and creative fields.
The contest will be
a 54-hour event where contestants come together to share ideas, form teams,
and develop ideas and business plans.
It will be held on
May 31-June 1.
FPT IS
provides core banking system for SBV
The package is part
of a project to modernise the State Bank funded by the World Bank, with a
total investment of US$71.83 million.
The package is
carried out by international bidding process worth nearly $9 million.
Central
city hosts Hackathon competition
As many as 60
information technology students from
The competition,
which is orgnised by Microsoft, has been held in Ha Noi,
Competitors will
challenge in 48 hours to build up an application on mobile phones in group
working.The best software, which will be sent to Microsoft, would be awarded
a cash prize of US$10,000.
Hi-Tech
Park's research centre uses nanotechnology
The Saigon Hi-Tech
Park's research and development centre is working with Moria Phuong Vy Ltd
Company to make cosmetics using gold nanoparticles developed by the centre.
As partners, Moria
Phuong Vy Ltd Co. has invested in a production line, while the centre assists
in the application of nanotechnology.
The company plans
to buy all the products made during the project prior to opening a cosmetics
company with the research centre.
Thai Thi Tu Phuong,
director of Moria Phuong Vy Co., said the testing of gold nanoparticles had
shown good results in production, and the centre was continuing to improve
the technology to produce even better cosmetics in the future.
This is the first
time that such technology has been used in the country.
Seagate
announces Kinetic Open Storage platform
Seagate Technology
plc has announced that it will expand the open source program associated with
its Seagate Kinetic Open Storage platform to include application programming
interface (API) and libraries.
By expanding the
platform's open source initiatives, the company has taken the next
significant step in fully enabling software and hardware partners to leverage
the new key or value programing interface and integrate it into cloud
software stacks, additional devices and new systems.
Following up on
contributions to interface specifications contributed to Open Compute Project
earlier this year, Seagate is opening the platform's API, libraries and
simulator technologies and enabling the OpenStack community to design, test
and deliver applications and system designs built on Seagate Kinetic
technology.
Vinatex to
sell 24% stake to strategic investors
Vietnam National
Textile and Garment Group (Vinatex) will sell 24% of its chartered capital to
strategic investors as part of its equitization plan approved by the Prime
Minister.
According to the
plan, Vinatex has chartered capital of VND5 trillion equivalent to 500
million shares and 24% of the chartered capital, or 120 million shares will
be reserved for strategic investors. The company plans nearly 122 million
shares (24.4%) for an initial public offering (IPO).
The Prime Minister
has ordered the Ministry of Industry and Trade, which represent the State
stake at Vinatex, to decide the share prices and the stock exchange for the
IPO and criteria for selecting strategic investors.
Vinatex chairman Vu
Duc Giang told the Daily that the group was in talks with some foreign
investors in order to select the right partners. The selected investors must
operate in the same sector, be good in corporate governance and the markets,
offer flexible and proper financial solutions for the group among others.
After the IPO, the
State will hold 255 million shares or 51%) of Vinatex and the ministry will
be allowed to sell more shares to reduce its ownership at the group to below
51% if market conditions are favorable.
After equitization,
Vinatex will continue enjoying some policy incentives such as taking loans
from the Asian Development Bank (ADB) for restructuring as well as mapping
out financial mechanisms for research and training institutes in support of
the textile-garment sector.
Besides, Vinatex
will be subject to the incentives outlined in the programs for cotton plant
and the textile-garment development for the nation.
Vinatex chairman Vu
Duc Giang told the Daily that after equitization, Vinatex would use loans of
the ADB and local commercial banks for core-business projects linked to
forming an A-to-Z production chain, textile and dying projects and expansion
of Vinatex Mart retail chain. More than VND5 trillion will be needed for
2015-2020.
In addition to
production expansion, Vinatex will invest heavily in technological updates at
its subsidiaries.
Last year,
Vinatex’s revenue grew by 12% year-on-year to nearly VND45.6 trillion, with
domestic contribution making up VND22.5 trillion (up 15%). The group targets
annual growth of at least 12% this year compared to the previous year.
Thaco looks
to top spot in domestic auto market
Truong Hai Auto
Corporation (Thaco) has unveiled this year’s ambitious goal of leading the
country’s automobiles market in terms of sales volume, a position which
Toyota Vietnam has long held over the years.
Leaders of Thaco
said at an annual shareholders meeting last week that to realize the target,
the corporation managed to sell 35,160 units this year, or 33% market share.
Thaco set the
target based on its positive business results in the first four months of
this year, in which it sold 10,800 units and surpassed
At the meeting,
shareholders of Thaco passed a plan to increase the company’s investment for
this year by 72% over last year, with VND604 billion (more than US$28.6
million) going to the company’s production lines, double that of last year.
Thaco will invest
the money in its workshop and assembly facilities for new car models such as
New Carens 2014, Mazda 6, Mazda 3 All New and Peugeot 3008; and production of
plastic parts for vehicles among others.
The local carmaker
plans to spend an additional VND478.5 billion (nearly US$22.7 million)
developing its retail network with three new dealerships and 28 showrooms to
reach a total of 146.
As for business
targets this year, Thaco aims for revenue of VND19 trillion, up 29% from a
year ago, after-tax profit of VND1.85 trillion, up 62% over last year, and
tax payments of VND5.7 trillion, up 58%.
In the first
quarter of this year, the corporation netted revenue of VND4.25 trillion and
after-tax profit of VND502 billion.
Last year, Thaco
sold around 28,300 units and earned sales of VND13.3 trillion, year-on-year
increases of 14% in volume and 28% in revenue. Its profit rose by 4.7 times
to VND1.14 trillion.
The automaker now
owns 45% of chartered capital of Dai Quang Minh Real Estate Investment JSC,
the investor of four build-transfer (BT) streets and a low-rise condo
building south of Mai Chi Tho Street in Thu Thiem New Urban Area in HCMC’s
District 2.
Last year, Thaco
asked for the Ministry of Finance’s approval to extend the deadline for
paying some VND1.214 trillion in tariffs for its part imports from July 1,
2013 to June 30 this year. But, after its engine factory project was revised,
the corporation early this year asked the ministry to halt the extension and
the corporation has spent the VND576 billion in tax payment delay until
January this year on supporting industry facilities.
Ford posts
strong sales growth
Ford Vietnam has
announced its best-ever performance for April when its retail sales jumped
37% year-over-year to 939 units and its market share inched up 0.5% from a
year ago to 8.3%.
Jesus Metelo Arias,
managing director of Ford
The company posted
the highest-ever monthly sales of Ranger and Transit nameplates, both of
which continue to lead their respective segments in
Ranger pickup sales
soared 258% last month from a year ago to a monthly record of 351 units and
the demand for all variants has helped boost revenue of the Ranger up 176% to
1,040 units this year.
The Ford Transit
experienced an April sales jump of 133% to its own monthly record of 297
units. Year-to-date sales of the commercial van have increased 135% to 1,089
units.
Last month, sales
of the sporty Ford Fiesta rose 29% year-over-year to 106 units, bringing the
year-to-date figure to 408 units and sales up more than 35%.
The Ford Everest
family SUV also supported the company’s performance in April with sales of
127 units, driving its year-to-date sales up more than 24% to 544 units.
Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Bảy, 17 tháng 5, 2014
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