The Vietnam Joint Stock Commercial Bank of Industry and Trade (Vietinbank) signed a syndicated loan agreement worth US$100 million with eight foreign financial institutions.
The institutions are Deutsche Bank AG – Singapore branch, Commerzbank AG – Luxembourg branch, Erste Group Bank AG, E.SUN Commercial Bank Ltd, CTBC Bank Co Ltd Singapore, First Commercial Bank – Overseas branch, State Bank of India-Singapore and Taishin International Bank.
The signing of the agreement has not only asserted the prestige of Vietinbank on the international financial market but also reflected the confidence of investors, as well as international financial institutions, Vietinbank Deputy General Director Tran Minh Binh said.
With this $100 million, Vietinbank pledges to better serve the demand for capital of Vietnamese enterprises, he added.
CIAS to launch IPO on July 12
Cam Ranh International Airport Service Joint Stock Company (CIAS) will offer over 1.4 million shares as part of the company’s initial public offering (IPO) on July 12.
The shares will be auctioned on the Ha Noi Stock Exchange (HNX) at the starting price of VND30,000 (US$1.3) each.
Formerly known as Cam Ranh Aviation Trading Joint Stock Company, CIAS was established in 2009 with chartered capital of VND10 billion. In 2016, CIAS increased its chartered capital to VND60 billion.
The company provides services for travelers at the Cam Ranh International Airport in the central coastal province of Khanh Hoa, such as restaurants, catering services, business class lounges and souvenir shops.
This year, CIAS has set a target of VND371.3 billion in revenue, VND35.5 billion in post-tax profit and 35 per cent dividend payment. In the first quarter of 2017, CIAS earned VND101.9 billion in revenue and VND12 billion in post-tax profit.
Tuy Hoa sugar factory to enhance production capacity
Authorities of the central province of Phu Yen have agreed to the Tuy Hoa Sugarcane and Sugar JSC’s plan to raise production capacity.
The company will enhance its capacity from 2,300 tonnes per day to 3,200 tonnes per day starting from the 2017-18 crop.
Tran Ngoc Hieu, chairman of the board of directors, said the company would invest more than 209 billion VND (9.17…
Vietnam: Manufacturing to remain the key driver of growth
We expect robust exports, led by strong global demand for electronics, to continue to underpin solid economic growth over the remainder of this year with GDP forecast to rise close to 8%.
GDP growth was unchanged at 4.5% y/y in Q1. Manufacturing activity surged, while the recovery in service sector activity and construction continued albeit at a more subdued pace as some localised social distancing measures were reinstated.
Vietnam Lao Cai popularises Sa Pa-Fansipan tourism trademark
Vietnam Cooperatives struggle to access COVID-19 support
The survey was conducted on 174 Vietnam cooperatives in 24 provinces and cities and 34 cooperative alliances of provinces and cities to assess the impact of the COVID-19 pandemic on cooperatives in Vietnam
Hanoi (VNS/VNA) – Most cooperatives have been harmed by the COVID-19 pandemic while only a small proportion of them have benefited from support policies, heard a forum held by the Vietnam Cooperative Alliance (VCA) and the United Nations Development Programme (UNDP) on March 24.
Subscribe via Email
Thai fruit exports to FTA markets up 107 percent
China, Malaysia, Singapore, Indonesia, the Philippines, Hong Kong, Australia and Chile are top importers of Thai fruits, especially fresh durian,...
Digital Revolution and Repression in Myanmar and Thailand
Activists have also proactively published social media content in multiple languages using the hashtags #WhatsHappeningInMyanmar and #WhatsHappeningInThailand to boost coverage...
3 Reasons to Be Optimistic About the Baht Right Now
Probably one of the most important factors for the rise of the Baht is the continued weakness of the US...
Will Thailand’s plan for quarantine-free tourism set a global trend?
According to the Tourism Authority of Thailand, the quarantine-exemption measures implemented in Phuket will be extended to five other key...
Thailand Approves Latest Economic Relief Package for Businesses
Some 250 billion baht (US$8 billion) was allocated for soft loans while the remaining 100 billion baht (US$3.2 billion) will...
Southeast Asia remains a hot spot for plastic pollution
The use of plastics is deeply embedded in our daily lives, in everything from grocery bags and cutlery to water...