VietNamNet Bridge – Contributing VND558 billion (nearly $30 million) to Honda, Toyota or Ford Vietnam many years ago, VEAM still earn hundreds of million of USD of profit each year. Though it is not too famous, the Vietnam Engine and Agricultural Machinery Corporation (VEAM) is among the State-owned enterprises with the biggest profits, sometimes far beyond giants like Vietnam Petroleum Import-Export Corporation (Petrolimex), Electricityof Vietnam Group (EVN), Airport Corporation of Vietnam (ACV) and Vietnam Coal and Mineral Corporation (Vinacomin). Established in 1990, VEAM is a state-owned corporation operating in the fields of manufacturing engines and agricultural machines serving agricultural production and aquaculture. The corporation has 20 subsidiaries, associated companies, employing 7,000 workers. It also owns an auto plant with design capacity of 33,000 trucks a year in Thanh Hoa province. VEAM also supplies parts and components for Honda, Piaggio, Yamaha … [Read more...] about Vietnamese company earns hundreds of million of USD from foreign auto empires
Ten new companies list shares on Ha Noi bourse (28-12-2006) Traders crowd in for a trading session in the capital city of Ha Noi. Seventy-seven companies and one commercial bank are now listed on the exchange. — VNA/VNS Photo Pham Hau HA NOI — More than 109.3 million shares from 10 companies were newly listed on the Ha Noi stock exchange yesterday, increasing the exchange's overall value up to VND10.8 trillion (US$677 million). Seventy-seven companies and one commercial bank are now listed on the exchange. The newest additions are Petrolimex Petrochemical (PLC), HCM City Book and School Equipment (STC), Song Da Investment and Development (SIC), Phu Thinh-Nha Be Garment (NPS), Song Da 5 (SD5), Song Da 7 (SD7), H.A.I Agricultural Pharmaceutical (HAI), Nui Beo Coal (NBC), Minh Phu Seafood (MPC) and Ha Noi Milk (HNM). The H.A.I Agricultural Pharmaceutical Joint Stock Co and the Phu Thinh - Nha Be Garment Joint Stock Co are the first companies in their sectors to list … [Read more...] about Ten new companies list shares on Ha Noi bourse
VN companies earn higher credit ranking (17-09-2008) HA NOI — A total of 117 of 293 listed companies in Viet Nam scored the highest possible ranking for creditworthiness last year, by the Credit Information Centre and leading global credit-rating corporation Dun&Bradstreet. The findings were released in a report yesterday, marking an increase of 23.16 per cent over 2006. This means that as predicted two weeks ago, 40 per cent (39.93 per cent to be exact) of listed Vietnamese companies are rated at the highest level. And about 80 of the 117 highest-rated firms were from HCM City Stock Exchange. In addition, 170 stock-market companies were classified as having a "good creditworthiness level" somewhere between triple "A" and triple "B." The remainder scored average levels. "We aim to provide investors with adequate information on listed firms through the ratings, although they are not perfect," said Dao Quang Thong, Deputy Director of CIC. "Our local stock exchanges are based on … [Read more...] about VN companies earn higher credit ranking
VietNamNet Bridge - The wage mechanism applied to state owned enterprises (SOEs) has become no more reasonable in the context of the market economy. The news that the director of the HCM City water drainage company earns VND2.6 billion a year, or 13 times higher than the pay to the Prime Minister, has stirred up the public. People cannot understand why the manager of a state owned enterprise for public interest can pocket so much money in front of supervisors, accountants, auditors and the strict regulations set by the Ministry of Labor, War Invalids and Social Affairs on the pay mechanism to SOEs' workers. In principle, the income of SOEs' workers is calculated as follows: minimum wage (x) coefficient (+) allowances. Under the government's decree No. 51, the coefficient could be between 6 and 9.1, which depends on the modes of operation of enterprises (company or state owned economic groups). The highest minimum wage stipulated in the decree is VND36 million a month, which is … [Read more...] about How much SOEs’ directors earn?
Corncobs, straw, hulls, sawdust and other agricultural and industrial byproducts normally thrown away can turn out to be export products which earn millions of dollars annually for producers. Some companies are finding ways to earn money from seemingly useless byproducts such as corncobs, straw, bagasse, hulls, or sawdust by exporting them to other countries. As the saying goes, "many a little makes a mickle." Numerous companies have earned millions of dollars from such materials. Hunting sawdust For a long time, straw was been considered an agricultural waste. Most farmers burned it after harvesting rice. Only a little is used as feed, fuel, or material to grow mushrooms. Then the Long An Agricultural Produce Wrapping Joint-Stock Company turned straw into a decorative material for export, earning hundreds of thousands of dollars every year. Since the beginning of this year, they have sold twenty 40-foot containers of straw products to Japan and Taiwan for a US$300,000, … [Read more...] about “Waste” Earns Millions for Vietnamese Companies