"In 2022 the steel industry was going through a difficult cycle. I predicted this at last year's meeting, and honestly it was worse than expected," he said at the 2023 annual general meeting on Thursday. "However, the most difficult period has passed, and the internal strength of Hoa Phat in particular is good, and now it completely depends on the demand side." Steel is an industry that depends on the real estate market and the government's public spending policy. Long said now "everything is very slow." Hoa Phat's January and February results were negative, but the losses were lower than the management had feared, he said. Things have been better in March, he said without providing figures, but promised to announce them at the end of April. Asked about his past assertion that "Hoa Phat cannot make steel forever," he said that applied for the long term and is a path that all large corporations must tread, but not easy to implement in the short term. "In theory, it is … [Read more...] about Worst over for industry: Hoa Phat Steel chairman
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Saigon Co.op discusses strategies with 600 suppliers
Saigon Co.op signed a number of agreements with suppliers at its supplier conference held in HCM City on March 30. — VNS Photo Saigon Co.op, the owner of Co.opmart, Co.opXtra, Co.op Food, Co.op Smile, Cheers, Finelife, HTV Co.op, and Cooponline retail chains, met with nearly 600 suppliers to discuss strategies to better satisfy customers’ needs and develop together at its supplier conference in HCM City on Thursday. Vu Anh Khoa, its chairman, said Saigon Co.op is now the largest consumer goods retailer in Viet Nam, and has the largest number of modern retail models besides more than 800 points of sale in 42 of the country’s 63 provinces and cities. It accounted for 35.8 per cent of the modern retail market share held by domestic players last year, and had revenues of VND31 trillion (US$1.3 billion) and one million customers a day, he said. Nguyen Anh Duc, its general director, said: “Among its targets for 2025, Saigon Co.op aims to have 1,000 points of sale and deliver new … [Read more...] about Saigon Co.op discusses strategies with 600 suppliers
VN-Index inks March’s last session in blue with ninth straight gaining session
Almaz conference centre in Vinhomes Riverside, Ha Noi. Vinhomes (VHM) topped the list of stocks pulling the VN-Index most on Friday. — VNS Photo Mai Huong The VN-Index closed at a one-month high in the first quarter’s last trading session, supported by strong buys of both domestic and foreign traders. On the Ho Chi Minh Stock Exchange, the VN-Index ended up 0.49 per cent at 1,064.64 points, extending its rally streak to nine consecutive sessions. Meanwhile, the HNX-Index on the Ha Noi Stock Exchange increased for a second day, up 0.75 per cent to close at 207.5 points. It inched up 0.2 per cent on Thursday. Liquidity in the afternoon session grew by 57 per cent compared to the morning, totaling 723.5 million shares worth VND13 trillion (US$552 million), the highest in more than a month. According to analysts, a long gaining streak showed investors’ expectations near the closing time of the net asset value of funds, pushing up many stocks. On average, this week saw the best … [Read more...] about VN-Index inks March’s last session in blue with ninth straight gaining session