The new stock millionaires in 2013

Nam Long's President Nguyen Xuan Quang.

VietNamNet Bridge - Vietnam has got 30 more stock millionaires, who are the shareholders of the companies which begin listing their shares on the bourse in 2013, and the members of the rich families. VnExpress and its partner VNDirect Securities Company have reported that 34 new stock millionaires have turned up by December 18, 2013, who have the stock assets worth over VND21 billion, or 1 million US dollars. The decision by Nam Long Investment JSC (NLG) on listing its shares on the bourse … [Read more...]

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The Vietnamese young ladies with colossal fortunes

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The Hanoitimes - The number of Vietnamese millionaires has been increasing rapidly, while the rich businessmen tend to be younger in recent years. A lot of young ladies reportedly have the assets worth of multi billions of dong. Most of them are the beloved daughters of the big businessmen, who have the assets through inheritance and from the business of their own. On January 21, 2012, the HCM City Stock Exchange (HOSE) released a notice that the daughter of Nguyen Thi Mai Thanh, President … [Read more...]

How do the Vietnamese get rich?

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VietNamNet Bridge - A new class of Vietnamese with total assets of at least one million dollars emerged over the last 30 years. relate news Who is the second-ranked dollar billionaire in Vietnam? Nguyen Xuan Thanh, director of the Fulbright Economics Teaching Program in HCM City, said the elite in Vietnam took shape after the average-income mechanism in the subsidy period was abolished. … [Read more...]

Nicknames of Vietnam’s biggest bigwigs: Where do they come from?

Tycoon Le Thanh Than.

VietNamNet Bridge - It is not unusual for Vietnamese billionaires to be assigned informal nicknames by the public, media or colleagues. While most accept the monikers bestowed on them, others are less comfortable with what they are called. Being the second son in the family, Doan Nguyen Duc, the owner of Hoang Anh Gia Lai Group, was called by his relatives "Ba Duc", meaning "Duc, the second child", according to the custom of the central region's people. However, he is better known in the … [Read more...]

Forbes honours three Vietnamese businesswomen

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(VOV) -Renowned US business magazine Forbes has announced the list of the year's top 50 businesswomen in Asia, including three Vietnamese. Vinamilk leads Forbes Vietnam's list of top 50 Forbes launches first edition for Vietnamese market First Vietnamese billionaire on Forbes list The three most powerful Vietnamese businesswomen are Mai Kieu Lien, manager and CEO of the Vietnam Dairy Products JSC (Vinamilk); Nguyen Thi Mai Thanh, manager and CEO of the Refrigeration Engineering Enterprise … [Read more...]

Big banks’ CEOs poorer than small banks’ CEOs

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VietNamNet Bridge - A paradox exists that the bosses of small banks are very rich, while the big bankers complain that their salaries are too modest. Big banks' CEOs poorer… President of the Bank for Investment and Development of Vietnam (BIDV) Tran Bac Ha complained that it is "difficult to live" with the ceiling monthly salary of VND36 million the State offers to the CEOs of state owned economic groups or general corporations. BIDV has become a joint stock bank after the equitization, … [Read more...]

The mystery of the water market

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VietNamNet Bridge - Observers have noted that there is a new wave of the foreign investment in the Vietnamese water market. REE, the well-known refrigeration engineering enterprise, has decided to set up a subsidiary - Viwic - a clean water company, with the chartered capital of VND650 billion. It has also announced the plan to buy 17 percent more of the stakes of the Thu Duc Water Supply Plant to raise its ownership ratio there to 42 percent. Analysts believe that REE has taken a wise move … [Read more...]

Big foreign investors make fat profit from stake sale deals

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VietNamNet Bridge - Foreign investors seem to make an enigmatic decision when selling stakes in large quantities and discreetly withdrawing capital from leading Vietnamese companies. Selling the goose that lays golden eggs Two investors--Vietnam Enterprise Investment Ltd (VEIL) and Amersham Industries Ltd (Vietnam Growth Fund) on December 6 unexpectedly announced the sale of 8.8 million and 4.6 million Vinamilk shares (VNM), respectively. The transactions would be made in the time from … [Read more...]

Investors rush to take capital back from banks

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VietNamNet Bridge - Misfortune does not come alone. The banking sector, which has bogged down in the high bad debt ratio and big corporate governance problems is also facing the wave of investors' capital withdrawal. Injecting money in bank shares was considered a wise decision. However, the bad debt crisis and the wrongdoings found in 2012 have frightened investors. This explains why many of them have decided to withdraw their capital from banks. The capital withdrawal plans have been … [Read more...]

Multi-field groups fail because of the lack of core competencies

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VietNamNet Bridge - Vietnamese enterprises remain too young to become multi-field groups. A survey of McKinsey found that multi-field conglomerates make up 80 percent of the turnover of the 50 biggest companies in South Korea, 90 percent in India and 40 percent in China. All the companies reportedly had very high turnover growth rates in 2000-2010, 23 percent per annum in India and 11 percent in South Korea. The same thing happened in Vietnam. Dominic Scriven, Managing Director of Dragon … [Read more...]

The business stories about the 200 businessmen with Nguyen family name

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VietNamNet Bridge - The number of profitable businesses managed by Nguyen businessmen was five times higher than the unprofitable ones. However, not all of them felt satisfactory about the business performance in the first three months of the year.The businessmen with "Nguyen" last name are the most successful Mrs Nguyen Thi Nhu Loan from Quoc Cuong Gia Lai Group With the profit of VND4,375 billion in the first quarter of 2013, Nguyen Thi Lan, President of the Vietnam Gas Corporation (GAS), … [Read more...]

The businessmen with “Nguyen” last name are the most successful

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VietNamNet Bridge - Nearly 200 businessmen with the "Nguyen" last name are now the presidents of listed companies. The businessmen with "Tran", "Le", "Pham", "Do", "Vu", "Bui" take turns heading other enterprises. From left Nguyen Hoa Binh, Nguyen Dang Quang, Nguyen Thi Mai Thanh, Nguyen Van Dat The survey by the local newspaper VnExpress and VnDirect Securities Company has shown an interesting thing: the businessmen with "Nguyen" last name seem to be more easily succeeded than the businessmen … [Read more...]

Leaving non-core business fields, conglomerates escape from marsh

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VietNamNet Bridge - Withdrawing capital from the business fields in which they don't have advantages and experiences--after a period of incurring loss, economic groups have recovered their strength. After one year of construction, the Hoang Anh Attapeu sugar and sugar cane industry complex capitalized at $100 million in Laos has begun churning out sugar and generating electricity. The Hoang Anh Gia Lai Group's project is expected to bring relatively high profits right in the first year of … [Read more...]

Hiring foreign managers now in fashion

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VietNamNet Bridge - The appointment of foreigners into the key posts at Vietnamese businesses has always been the "hot news" for the public. However, foreign CEOs do not always bring the things businesses expect. The wave of hiring foreign CEOs A foreigner, David Alexander Newbigging, has been nominated for the post of the member of the board of directors of REE (Refrigeration Engineering Enterprise). He does not hold REE shares now, but has been nominated by the big shareholder who holds … [Read more...]

The businesses which pay $900 a month to workers

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VietNamNet Bridge - Banking and telecom are considered the two most profitable economic sectors. The businesses in the business fields can pay VND18 million (about $900) a month on average to their workers. Meanwhile, in Vietnam, the workers with the monthly income of VND10 million would be listed as high income earners. According to the Governor of the State Bank of Vietnam--Nguyen Van Binh, the banks' profit decreased by 20 percent in 2012 in comparison with the year before. Especially, … [Read more...]

The new stock millionaires in 2012

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VietNamNet Bridge - The big hostile takeover deals and the huge transactions to increase the ownership ratios in companies prove to be the main reasons behind the appearance of many new faces in the 2012 stock millionaires' list. According to VnExpress newspaper and VNDirect Securities Company, its partner which provides data for analysis, there is one "new name" in every five stock millionaires in 2012. As such, the 2012 list of 100 biggest stock millionaires would include 200 new … [Read more...]

Part 3: Real estate firms would die soon in the frozen market

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VietNamNet Bridge – The national economy has witnessed the hot growth in recent years, partially because of the huge investments by the enterprises which are infected with many diseases. What would happen? Part 1: Businesses' production depending on bank loans Part 2: Businesses rush to follow multi-field business model The common characteristic of all the enterprises which make investments in multi business fields is that they all have injected in the real estate sector. … [Read more...]

How much Vietnamese bosses and CEO’s earn?

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VietNamNet Bridge - The question remains unanswered. In Vietnam, the income of a person not only comes from official sources or salaries, but from other sources as well. The information that Doan Nguyen Duc, President of Hoang Anh Gia Lai, one of the 10 Vietnamese richest stock millionaires, received 3 billion dong in 2011 for the post of president of the group has become a hot topic for discussions. The incomes companies' CEO and presidents receive turn out to be more huge than people … [Read more...]

Tired of financial investments, businesses rush to sell stocks

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The sharp falls of the stock prices have made businesses understand the complexity of the finance market and prompted them to sell stocks to restructure their investment portfolios. Several years ago, when the stock price kept rising and brought fat profits to investors, investing in stocks became "in fashion". Businesses rushed to pour their money into the stock market, even though they did not have deep knowledge about the finance market. But nowadays, when the stock price keeps falling … [Read more...]

Listed companies’ problem: turnover high, but profit low

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VietNamNet Bridge - The 2010's finance reports of listed companies showed that they obtained an impressive turnover growth of trillions of dong, but their profits were modest. … [Read more...]