Fund small business startup

Some of its investors include Singapore’s Vulpes Investment Management, and South Korea’s Nextrans and The Ventures. It had earlier raised $700,000 from angel investors, many of whom also continued to participate in this round of funding. By digitizing and centralizing data sources, Citics aims to create a real estate data platform to support real estate transactions, including real estate valuation, sales-purchase, lease, and mortgage. Citics was founded in November 2018 by the former CEO of real estate broker Cen Group’s southern Vietnam region, Tran Minh Long. Long was listed in Forbes ’s "30 under 30" list of entrepreneurs in 2018. Citics’s board of directors also includes two other faces from the "30 under 30" list – Nguyen Hai Ninh, founder and former CEO of Vietnamese coffee house chain The Coffee House, and Pham Anh Duc, founder of ViCare, a startup that provides information on hospitals, clinics, doctors, drugs and symptoms of diseases. Citics’s first application, Citics Valuations, enables banks to validate the value of a property as collateral for loans. By using a proprietary valuation map, bankers can now check the details and preliminary values of properties with just a few clicks. The official valuation report is completed within three hours, just one fourth the time it usual takes. The application also enables banks’ risk department to control mortgage risks related to property values and locations. Currently, Citics has the data of more than nine million properties nationwide and has estimated values for nearly four million of them. It has provided its valuation service to 10 domestic banks. It expected to expand its valuation service to over 30 cities and provinces, according to its CEO Tran Minh Long. …

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Vietnamese and Japanese firms receive support to expand operations The Japan Trade Promotion Organisation (JETRO) will host an online scheme on March 3 in Hanoi aimed at connecting Japanese businesses in the field of manufacturing and production, known as Monozukuri in Japanese term to facilitate co-operation amid the negative impacts caused the COVID-19 pandemic. According to a representative from the JETRO, the business matching programme will see the participation of 40 Japanese companies for the purpose of accelerating the development of the country’s supporting industry. At present, the scheme has received registration for 50 negotiations from enterprises from Japan, Vietnam, and Taiwan (China), whilst it is still receiving registration from businesses wishing to purchase and seek Japanese suppliers in the Monozukuri field until March 1. A recent survey conducted by the JETRO unveiled that Japanese businesses remain keen on the Vietnamese market as the country is viewed as an alternative investment destinations for Japanese enterprises looking to move away from China due to the COVID-19 pandemic. The survey indicates that approximately half of Japanese enterprises in the nation plan to expand their production activities, while roughly 70% of them seek opportunities to increase revenue in the local market. Most notably, 46.8% of Japanese enterprises unveiled that they have initiated plans to expand their business in the nation over the course of the next two years, with the expansion rate ranking fourth, the highest in the Asia-Pacific region. Japanese enterprises have therefore attributed their expansion to an increase in revenue in the domestic market and high growth potential. Furthermore, Japanese firms are also considering re-establishing some supply chains which have been impacted by the COVID-19 pandemic, with Vietnam able to capture the attention of suppliers and buyers of materials globally. VN-Index finishes lower as …

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It will be done between March 10 and April 8 either by order matching or put-through orders, according to a statement from ACB. With the share closing at VND32,450 ($1.41) on Friday, the transaction will be worth around VND3.25 trillion ($140.94 million). Two funds, First Burns Investments Limited and Asia Reach Investments Limited, will sell off their 4.99 percent stake in the bank while a third, DC Developing Markets Strategies Public Limited Company, will buy 0.23 percent to increase its ownership to 0.36 percent. Vietnam-focused Dragon Capital manages around $2.9 billion worth of assets. ACB’s share price has surged 27 percent after the market fell at the end of January, establishing a new all-time high of VND33,250 on March 1. The bank reported a 28 percent increase in post-tax profit last year to VND7.68 trillion. …

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