Broker company

Workers gathered at the sewing machine part factory on Friday to protest the negligible Tet bonus. The most-highly anticipated bonus for Vietnamese workers is traditionally given before the Lunar New Year ends and helps migrants travel home for the important holiday. The strike came after the company, which has been operating in Vietnam for 28 years, said that all workers who have been with the company for less than 12 months will only receive VND100,000 each. Those who have worked for the company for more than a year will get a bonus of 110% of their average monthly basic income (overtime excluded), according to the employer. This means that a worker with a monthly basic income of VND5 million will get a VND5.5 million Tet bonus. The company also said that it would raise workers’ salaries by only 2.25% this year. Nam, a 23-year-old who has been working at the company for nine months, said he needs a decent Tet bonus because his monthly basic income is less than VND5 … [Read more...] about 600 workers strike for better pay at Japanese company

Ho Chi Minh City Public Lighting Joint Stock Company (SAPULICO or CHS) operates in the field of management and maintenance of public lighting systems, traffic lights, construction of public works, and other construction systems. — Photo chieusang.com.vn There are now many enterprises on UPCOM with small charter capital but a great amount of land funds. With low business performance and low stock market price, the businesses can become the targets of other big companies. With a charter capital of only VND145 billion (US$6.18 million), Ha Noi Food Joint Stock Company (HAF) holds many real estate assets located in the capital’s central areas, including 11 commercial centres, supermarkets and convenience stores; as well as eight hotels, restaurants, and food service establishments. Some prominent land areas include 736sq.m at 51 Le Dai Hanh Street; 164.5sq.m at 46 Luong Ngoc Quyen; 347.6sq.m at 7 Dinh Liet; and 200sq.m at 30 Hang Dao. HAF also has other real estate facilities … [Read more...] about Weak finance-backed companies possess large land funds

Despite the hard work of small and medium-sized domestic packaging companies to stay in tune with market demands and apply the latest production technologies, they continue to face a host of challenges. Packaging being produced for export at Sao Mai JSC in Ha Tinh province. (Photo: VNA) According to Ngo Duc Nhat, co-founder of HCM City-based Hoang Phat Packaging Co, which specialises in carton packaging production, this market segment had slowed down during the social distancing period due to restrictions in good transportation and import and export activities. Similarly, the glass packaging segment was also affected when consumption of cosmetic products and high-end drinks in glass bottles slowed down as bottled water producers preferred to use plastic packaging, Nhat told thesaigontimes.vn. In the post-pandemic period, Vietnam’s major import markets faced many difficulties and the risk of economic recession, so they cut back on goods imports and … [Read more...] about Challenges persist for small and medium-sized domestic packaging companies

Products loaded on a truck at a warehouse of Hoa Phat Group. The group recorded a net loss of more than VND2 trillion (US$85.3 million) in the fourth quarter of 2022. — Photo hoaphat.com.vn Steel companies witnessed hardships in the fourth quarter of 2022 with many big players suffering losses. Giant steel maker Hoa Phat Group (HPG) recorded a net loss of more than VND2 trillion (US$85.3 million) in the fourth quarter, a new bottom after the third quarter where it recorded a loss of nearly VND1.8 trillion. In the last quarter of last year, the group's revenue also decreased by 42 per cent over the same period of the previous year, to VND26 trillion. In the whole of 2022, Hoa Phat Group recorded revenue of VND142 trillion, down 5 per cent year-on-year. Profit after tax for the whole year reached more than VND8.4 trillion, only one-fourth of that in 2021. In the fourth quarter of 2022, Hoa Sen Group (HSG) suffered a loss of VND680 billion, down from VND887 billion in the third … [Read more...] about Steel companies witnessed hardships in Q4

Workers at a mine of Vang Danh Coal Joint Stock Company, a member of Vinacomin. (Photo: vinacomin.vn) Hanoi (VNS/VNA) - Coal companies announced strong growth results in the fourth quarter of 2022. Coc Sau Coal (TC6) achieved the strongest growth in the quarter with a 10-fold increase over the same period last year. This is due to a sharp increase in profit margin of 33% in the fourth quarter of 2022, while in the same period of 2021 it reached only 9%. It was followed by Cao Son Coal (TCS), seeing net profit of 168 billion VND (7.2 million USD), up 154% over the same period of 2021. Gross profit margin also increased sharply by 13%. Meanwhile, Vang Danh Coal (TVD)’s net profit reached 148 billion VND, doubling the same period of 2021. Ha Tu Coal (THT) and Nui Beo Coal (NBC) also recorded an increase in net profit of 96% and 70% in Q4, respectively. Deo Nai Coal (TDN) also had a profit of 37 billion VND, a sharp increase compared to the loss of 1 billion VND in the … [Read more...] about Coal companies announce strong profit results in Q4

Throughout 2022, the brokerage revenue of 10 leading securities firms on the Ho Chi Minh City Stock Exchange (HSX) saw a 19.4 per cent plunge compared to one year ago. VPS, which secures the number-one position for brokerage services in the market, saw its slice sink to 14.81 per cent in the last quarter of 2022, down from 18.71 per cent in the third quarter and 17.12 per cent in the same period of 2021. For the whole of 2022, VPS’s revenue from brokerage services shed more than 9 per cent on-year. The stock market saw great volatility in Q4 last year Meanwhile, the brokerage revenue of SSI, which ranks second among top performers in stock transaction value, took a dip of nearly 60 per cent in Q4 last year alone and witnessed a 32.2 per cent plunge over the whole of 2022. The company’s market slice slipped from 11.05 to 9.84 per cent. This does not only affect the two top performers, the brokerage revenue of most other securities firms fell amidst an … [Read more...] about Competition heats up among stock brokers

Customers at a Bao Viet Holdings’ office in the northern city of Hai Phong. (Photo: VNA) Hanoi (VNS/VNA) - Insurance companies will have the chance to earn higher profits in 2023 thanks to a continual interest rate hike trend. It is feasible for insurers to continually increase profits this year as the majority of their investment portfolios are bank savings and government bonds, whose interest rates are forecast to remain at high levels in the year. According to the current legal regulations, insurers have to use at least 70% of their capital to deposit at banks or buy government bonds to ensure the insurers’ capital safety. Therefore, the current high interest rates of the two channels are an advantage for insurers to increase their profits. As the interest rate hike trend is forecast to remain in 2023, financial activities of insurance companies are expected to continually record positive results this year. The US Federal Reserve (Fed) last year raised … [Read more...] about Insurance companies benefit from interest rate hike in 2023

In detail, 10 officers and staff from the company were divided into 5 teams. Each team must make 20 Chung cakes within 120 minutes. Before the competition, the participants thoroughly prepared ingredients, including sticky rice, pork, green beans, Phrynium placentarium (dong) and banana leaves. The contest created a joyful atmosphere, contributing to easing homesickness of Engineering Company Rotation 1’s members. It offered a chance for the Vietnamese “blue beret” soldiers in Abyei to introduce cultural beauty of the Vietnamese traditional Tet (lunar New Year) holiday to international friends and colleagues. Major Dang Van Le, Deputy head of the Engineering Company Rotation 1 shared that several international friends and colleagues at the UNISFA eagerly joined the competition, with the support of Vietnamese officers. Mrs. Nguyen Thi Hai Lien, a nurse of the level-1 field hospital under the Logistic-Security Section, said that making Chung cakes in Abyei was such an … [Read more...] about Engineering Company Rotation 1 holds Chung cake making contest in Abyei

2023 is predicted to be a tough year due to various factors like inflation, high interest rates and the Ukraine-Russia conflict. But companies in Viet Nam say they have various strategies in place to overcome the challenges. Viet Nam News reporter Thu Ngan asks senior executives at a number of companies about the strategies and where they think the Vietnamese economy and their own sectors are headed. Trang Bui, General Manager Cushman & Wakefield Vietnam Trang Bui, General Manager Cushman & Wakefield Vietnam The mild recession in the last quarter of 2022 will continue into the first quarter of 2023. Viet Nam has gone through four real estate cycles, and Cushman & Wakefield anticipates that the real estate industry will go through the current economic downturn more quickly than in previous crises, allowing for recovery in the real estate market in the second half of 2023. In the process of working with domestic and foreign investors, we have noticed there is still … [Read more...] about Company bosses share outlook on economy in 2023

This year is predicted to be tough due to factors such as inflation, high-interest rates and the Ukraine-Russia conflict. But companies in Viet Nam say they have strategies to overcome the challenges. Viet Nam News reporters Thu Ngan and Vu Hoa ask senior executives where they think the Vietnamese economy and their own sectors are headed. Nguyen Thanh Tung, deputy general director of Vietcombank: Nguyen Thanh Tung, deputy general director of Vietcombank According to experts and international organisations, 2023 will be a year with many difficulties because we will continue to face inflation and potential risks in the real estate market and corporate bonds. In 2023, it is necessary to have more effective and quality solutions for granting credit. This year, Vietcombank will continue to play the leading role of a state bank of Viet Nam in implementing monetary policy. Therefore, we are committed to maintaining the deposit interest rate at a reasonable level, saving costs and … [Read more...] about Company leaders share outlook on economy in 2023