Firm value definition

Speaking to VnExpress on the sidelines of a National Assembly session in Hanoi, Supreme People's Court Chief Justice Nguyen Hoa Binh said the amount of money recovered in this corruption case was a record-high, and the speed with which it was done was also unprecedented. The case that involved violation of regulations on management and use of public capital that lead to "serious consequences," giving and accepting bribes, will go to trial at the Hanoi People's Court for 16 consecutive days starting December 16. Fourteen suspects will be brought to trial, including two former ministers of Information and Communications, two former general directors and five former deputy general directors of MobiFone. The suspects have returned nearly VND8.9 trillion, most of which was the money AVG's former chairman Pham Nhat Vu returned to MobiFone after the acquisition deal fell through. The remaining amount has been handed over by information ministers Nguyen Bac Son, Truong Minh Tuan and MobiFone's … [Read more...] about Vietnam recovers $384 mln, offsets TV firm acquisition losses

In a letter to Prime Minister Nguyen Xuan Phuc, Minister of Information and Communications Nguyen Manh Hung said there should be a new legal framework for ride-hailing services like Grab and Go-Viet so that technology could bring social and economic benefits as seen in countries like the U.K., Singapore and Indonesia. While traditional taxi firms provide a whole gamut of the transport services, ride-hailing services only provide a part and so should be managed differently, he explained. He proposed a new definition in the law for ride-hailing firms as companies which provide platforms to connect drivers and passengers using technology. Vietnamese officials have been scratching their heads about how to manage ride-hailing services since traditional taxis are crying foul, claiming their business is being damaged by new competitors like Grab. In its latest version of a bill on managing these services, the Ministry of Transport has tightened conditions for ride-hailing firms. They … [Read more...] about Minister calls for making distinction in regulating ride-hailing, taxi firms

German businesses are seeing Vietnam as an attractive destination for investment (photo: Le Toan) Wolfgang Schmitz-Heinen, CEO of Witte Holding GmbH, visited Vietnam for the first time recently to look for opportunities to start a business here. Witte is a family-run global company in the printing business that specialises in printing secure and self-adhesive labels for various applications including the automotive and electronic industry. “We want to expand abroad more than before and are analysing different countries, and we got the opportunity to join this business delegation organised by the OAV-German Asia-Pacific Business Association to Vietnam. We are impressed from south to north there, and would like to follow this track to see what is possible for us. I have ideas, but we have to check now the circumstances to ensure that everything we have to do is carried out properly, but we will do it fast,” he told VIR. “What I learned in these last few days is that … [Read more...] about German firms see positive outlook

In a Tuesday press release Haxaco said it has set up a team to negotiate the offer from The Class Hyosung, also a Mercedes-Benz dealer. The Class Hyosung has offered to pay VND45,500 ($1.96) per share for the stake, while Haxaco wants VND50,000 ($2.16). The announcement increased Haxaco’s HAX stock value on the Ho Chi Minh Stock Exchange by 6.7 percent from Monday to VND19,050 (82 cents) Tuesday. Haxaco’s management board began looking at legal requirements to increase the foreign ownership cap in the company from 49 percent to 100 percent in August. The increase is set to be presented to shareholders for approval. Haxaco posted revenues of VND2.3 trillion ($99.3 million) in the first half of 2019, with car sales accounting for 92 percent. Its pre-tax profit was around VND38 billion ($1.64 million), down 14 percent year-on-year. … [Read more...] about South Korean firm seeks majority stake in Vietnam’s Mercedes-Benz dealer

  A booth displaying industrial parts at the 2018 Vietnam Supporting Industry Fair (VSIF). This year the VSIF will be held along with the Vietnam International Machinery Fair in HCM City from December 11 to 14. — Photo courtesy of organisers HCM CITY — The 2019 Vietnam International Machinery Fair and 2019 Vietnam Supporting Industry Fair will be held in HCM City from December 11 to 14. The fairs have attracted over 300 exhibitors, including from advanced countries and regions such as South Korea, Japan, Singapore, China, Germany, and Europe. The products on display at the 460 booths will include automation and digital manufacturing solutions, supporting industry products, machinery used in the construction, textile, agricultural, and other sectors, energy and factory equipment, metalworking tools, welding machines, industrial parts and materials, and measuring and testing instruments. Supporting industry products made by Vietnamese firms will account for 30 … [Read more...] about Over 300 firms to participate in HCM City machinery, supporting industry fairs