The strategic partnership signing ceremony between Vingroup and SK Group on May 16 (Source: vnexpress.net) Seoul (VNA) - SK Group, the third largest business group in the Republic of Korea (RoK), said on May 16 that it would invest 1 billion USD in Vingroup - Vietnam's leading real estate and retail conglomerate, as part of its efforts to expand presence in the Southeast Asian market. Accordingly, SK signed an agreement to buy 6.1 percent stake in the top Vietnamese company, and it will seek business opportunities in Vietnam including investing in new businesses, infrastructure development and mergers and acquisitions. Established in 1993, Vingroup is Vietnam's top-listed private company by market value, injecting its investment in diverse sectors, ranging from real estate development to automobile industry. Vingroup’s sale in the first quarter of 2019 was reported to hit 925 million USD. The agreement is the latest step in a series of overseas efforts by … [Read more...] about RoK’s SK group to pour 1 billion USD in Vingroup
How much crore in 1 billion
Illustration by Trịnh LậpViet Nam News By Hoàng Hồ After an incredible fight, actress Mai Phương, who has been receiving special treatment for aggressive lung cancer, has been discharged from Military Hospital 175 into the loving arms of friends, family, fans and colleagues. Although the battle against cancer is not over, with Phương facing many more hospital visits and follow-up appointments, her journey has been remarkable and inspirational. Since the first days of her treatment, the hospital has welcomed visits from many celebrities to help and encourage Phương. With continuous updates on the media and thousands of messages from fans on Facebook around Việt Nam, everything seemed to be going well, until actor Gia Bảo – a close friend of Phương’s, spoke up and caused some ripples. “If you don’t have a close relationship with the patient, you can just … [Read more...] about How much does sympathy really cost?
Warburg Pincus is finding new investment targets in the consumer, banking and logistics sectors of Vietnam as its economy grows and capital markets develop, said the regional head of the private equity firm which has committed over $1 billion in Vietnam. “It’s a market that we think there’s a lot of opportunity in,” Jeffrey Perlman, Southeast Asia chief for Warburg, told Reuters in an interview on Thursday. “Four, five years ago, even in Vietnam there wasn’t an understanding of what was private equity and what it will do to businesses.” Vietnam’s emergence as a large manufacturing destination next to China helped the Southeast Asian nation’s economy grow at 6.8 percent last year, the strongest since 2010. The growth is rapidly building up a huge middle class that is boosting consumer spending in a country of about 100 million. Its stock index VNI has risen 20 percent this year, the best performance in Southeast Asia, after surging … [Read more...] about Warburg Pincus sees more deals in Vietnam after pumping in $1 billion
HAGL chairman Doan Nguyen Duc revealed that in early 2018 he had pleaded with Tran Ba Duong, chairman of Truong Hai Motor (Thaco), for investment at a critical time when HAGL lacked the funds to grow fruit trees and debts fell due. After trips to HAGL’s farms in Laos, Cambodia and Vietnam and ongoing property projects in Myanmar, Thaco decided to invest in both. In March Duong helped fix debts of VND1.58 trillion owed by Agrico, HAGL’s agriculture company, and invested in its orchards. Recently, on August 3, Thaco signed a strategic agreement with HAGL to invest in Agrico and HAGL Land Myanmar. Thaco paid VND3.8 trillion ($168.8 million) for one-year convertible bonds issued by Agrico (HNG), equivalent to over 221 million shares, which will give the carmaker a 35 percent stake. A subsidiary of Thaco, Dai Quang Minh Real Estate Investment, paid VND4 trillion ($177 million) for a 51 percent stake in HAGL’s realty firm in Myanmar. Dai Quang Minh plans to increase its … [Read more...] about Auto maker Thaco to pump in $1 billion for HAGL firefighting
Illustrative image (Source: VNA) Hanoi (VNA) - Vietnam exported up to 520,000 tonnes of coffee worth 1 billion USD in the first quarter of 2018, an increase of 15.1 percent in volume but a decrease of 1.7 percent in value compared to the same period last year. According to the Ministry of Agriculture and Rural Development (MARD), Germany, the US, Indonesia, Italy and Japan were among the country’s key export markets. Germany accounted for more than 14 percent of exports though its purchases fell by 18 percent year-on-year. … [Read more...] about Vietnam’s coffee exports rake in 1 billion USD in Q1