A view of Thu Thiem new urban area in HCM City. — Photo vtc.vn Recent property firm scandals have shaken the stock market, blowing tens of trillions of Vietnamese dong and making investors feel the pain of loss when the market was in free fall. The question now is whether investors turn to value investing after the shock? On January 18, the State Securities Commission (SSC) issued a decision to fine FLC chairman Trinh Van Quyet VND1.5 billion (US$65,200) for his ‘underground’ trading. The fine is the biggest applicable to an individual who is a major shareholder of a company for not informing the stock authority three working days before making a sale. Quyet sold nearly 75 million FLC shares on January 10 but the SSC only received the disclosure on the evening of the same day. The watchdog made a quick response with a decision of blocking his accounts the next day and cancelled the transaction, the first time such a large volume was treated so on Viet Nam’s stock market, and … [Read more...] about Will ‘scandals’ in property firms draw investors back to value investing?
China backed firm escapes breakup fee in lattice deal
A client checks a new car at a showroom in Hà Nôji. The local automotive market is expected to rebound this year, returning to its growth track after sluggish sales last year. - VNA/VNS Photo HÀ NỘI — The Vietnamese automotive market is expected to rebound this year, returning to its growth track after sluggish sales in 2021, according to industry insiders. This assessment was based on the continuous increase in sales volume of Vietnamese auto manufacturers and assemblers in the fourth quarter of 2021. Automobile experts have attributed this growth to the Government’s preferential policies, which are the main drivers for the recovery of the local auto industry in 2022. In October last year, the Ministry of Finance conducted a draft decree to collect suggestions from ministries and agencies to cut the registration fee on domestically manufactured and assembled cars. The Decree clearly states that the registration fee rate for domestically manufactured and assembled cars … [Read more...] about VN’s auto market to bounce back this year
Binh Duong reports first imported Omicron case The southern province of Binh Duong has confirmed one imported case of Omicron variant of coronavirus SARS-CoV-2, announced the provincial Department of Health on January 23. The 32-year-old female patient flew home from Canada and arrived at Tan Son Nhat airport in Ho Chi Minh City on January 9. She was quarantined in Binh Duong’s Thu Dau Mot city and tested positive for COVID-19 two days later. Her sample was sent for gene sequencing and the results confirmed she was infected with the Omicron variant. She has displayed no symptoms so far. Dossier seeking UNESCO recognition of Yen Tu complex to be completed this year The northern provinces of Quang Ninh, Hai Duong, and Bac Giang have committed to complete a scientific dossier on the Complex of Yen Tu Monuments and Landscapes in 2022 to seek the UNESCO recognition of this place as a world heritage site. Under the commitment, which was signed recently by the … [Read more...] about VIETNAM NEWS HEADLINES JANUARY 24