In Vietnam, the import of wild-caught lobster larvae is under strict control because of short supply, yet the smuggling of this in-demand shellfish remains rampant on social media, posing immeasurable risks. Many raft owners in Cam Ranh City, Khanh Hoa Province find it difficult to import official lobster larva shipments, while some online sellers offer lobster larvae in great numbers and with plenty of pricing. When buying lobster larvae becomes a gamble Despite being aware of numerous risks in quality, many consumers still go for buying lobster larvae online. "Vendors vaguely claimed that these infant lobsters hailed either from Indonesia or the Philippines,” said Le Phuong Dung, a buyer in Cam Linh Ward, Cam Ranh City. The price per lobster larva peaked at VND60,000 (US$2.46) in July and August, while each cost about VND40,000 ($1.64) at the moment, said Dung. Besides purchasing from a regular contact, she usually orders lobster larvae online as this kind of trading … [Read more...] about Lobster larvae increasingly smuggled into Vietnam
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Singapore’s GIC eyes potential M&A deal in Vietnam’s retail sector
Bach Hoa Xanh is Vietnam's third-largest grocery chain GIC is among the bidders looking to acquire a stake in Bach Hoa Xanh in a transaction that could increase the grocery chain's valuation to $1.5-1.7 billion. Other bidders include companies from Thailand. The deal is slated to be wrapped up in the first quarter of 2024 if the negotiations are successful, as reported by Reuters . "The deal is nearing the finalising stage and is expected to close soon," a source with knowledge of the matter said. Mobile World said, "Information will be announced once the deal is concluded. The company is still in a private placement and has signed an agreement not to disclose information with interested bidders." Established in 2015, Bach Hoa Xanh, backed by Vietnam's retail giant Mobile World Investment, runs more than 1,700 stores in Vietnam's southern and south-central provinces. Mobile World has now decided to proceed with the planned sale after putting it on hold earlier this … [Read more...] about Singapore’s GIC eyes potential M&A deal in Vietnam’s retail sector
Japfa Vietnam accompanies children to schools
“Japfa for Education” journey reached out to students at Vinh Quang Elementary School in Tuyen Quang province This initiative is part of a project named "Japfa for Education" which the company has been implementing for many years to support children nationwide. As part of the programme, company representatives presented 300 gift packages consisting of backpacks and notebooks to underprivileged students, along with envelopes contributed by accompanying distributors. At Vinh Kien Elementary School in Yen Bai province, Pham Van Quang – a feed agent cooperating with Japfa Vietnam expressed, "The gifts hold great significance for the children in the mountainous region, and we are delighted to accompany Japfa in spreading this love to the disadvantaged students in the local area." The value of the gifts, worth VND100 million ($4,200), includes a portion of the budget contributed by over 500 participants in a virtual run commemorating Japfa Vietnam's 27th anniversary. … [Read more...] about Japfa Vietnam accompanies children to schools
Winners of Investor Relations Best Practice Awards honoured
Honoured categories consist of Individual Investors Best Choice and Financial Institutions Best Assessment for the top three of large cap, mid cap, and small-micro cap firms. (Photo: VNA) HCM City (VNA) – Winners of the 2023 Investor Relations Best Practice Awards (or IR Awards ) were honoured at a ceremony held in Ho Chi Minh City on September 28. Co-organised by Tai Viet Joint Stock Company (Vietstock), Vietnam Association of Financial Executives (VAFE), and Finance and Life E-magazine (FiLi), the annual event recognised listed companies with the best IR practices of the year through quantitative screening, voting, and professional assessment. FiLi Editor-in-Chief Nguyen Nhu Hung said that the awards promote the business community's awareness of the role and importance of IR activities, improve information transparency and disclosure quality, and strengthen investor confidence in the Vietnamese stock market. This year, it saw the participation of 731 firms … [Read more...] about Winners of Investor Relations Best Practice Awards honoured
Singapore’s GIC among bidders vying for stake in Vietnam’s third largest grocery chain
SINGAPORE/HANOI -- Singapore's sovereign wealth fund GIC is among investors vying to buy up to 20 percent stake in grocer Bach Hoa Xanh from Vietnam's retail giant Mobile World Investment, in a deal that could value the grocery chain at up to $1.7 billion, two sources said. GIC declined to comment. Other bidders include companies from Thailand, the sources added, declining to be named as the matter is private. The identity of the potential buyers has not been reported previously. "The deal is nearing to the finalising stage and expected to close soon," one of the sources with knowledge of the matter said, adding that a deal could be sealed as early as the first quarter of next year if negotiations are successful. In a statement to Reuters , Mobile World said it would announce the information once the deal was concluded. "We are still in a private placement and have signed an agreement not to disclose information with interested bidders," it said. The potential deal would … [Read more...] about Singapore’s GIC among bidders vying for stake in Vietnam’s third largest grocery chain
Over 1,100 pigs swept away by floodwaters in Vietnam
Upstream floodwaters caused by heavy rains over the past couple of days took a heavy toll on a pig farm in Thanh Hoa Province, north-central Vietnam, with 1,108 pigs swept away as of 10:00 am on Thursday. The incident triggered estimated losses of over VND3 billion (US$123,259), Dong Van Thanh, who manages the pig farm under Nhu Xuan Agriculture Development Company, located in the province’s Nhu Xuan District, told Tuoi Tre (Youth) newspaper on the same day. Le Tien Dat, head of the district’s agriculture and rural development sub-department, said the agency has worked with relevant bodies and the company to jointly cope with the aftermath of the incident. Floodwaters inundate a pig farm in Thanh Son Commune, Nhu Xuan District, Thanh Hoa Province, north-central Vietnam. Photo: Supplied Authorities and the farm operator called on local residents to return the missing pigs, with each weighing some 60 kilograms on average, to the farm if they discover any of them … [Read more...] about Over 1,100 pigs swept away by floodwaters in Vietnam
Hanoi households, businesses rush to install escape ladders outside buildings
Many households and businesses in Hanoi have raced to equip escape ladders outside their high-rise buildings following a fatal apartment block inferno that killed 56 people in the capital earlier this month. These escape ladders come in all types and sizes, but most of them are made from metal. The owners of buildings with enough spaces have equipped them with spiral ladders, while vertical ladders have been installed outside some others. Some ladders have even encroached on sidewallk areas. The owner of an eight-floor apartment block on Thanh Binh Street in Ha Dong District, Hanoi has equipped the building with an escape ladder system costing over VND100 million (US$4,100). Photo : Hong Quang / Tuoi Tre Le Ha Khanh, residing on Minh Khai Street in Hai Ba Trung District, was in a divided mind while choosing an escape ladder for her six-floor apartment block. Vertical ladders are dangerous as people may fall while climbing down, Khanh said. Meanwhile, she … [Read more...] about Hanoi households, businesses rush to install escape ladders outside buildings
Listed companies receive awards for best investor relations
Winners of the 2023 IR Awards as voted by financial institutions in the large capitalisation stock category at a ceremony in HCM City on September 28. — Photo of the organisers Fourteen listed companies received the 2023 IR Awards for having the best investor relations at a ceremony in HCM City on September 28. According to the organizers, the Vietnam Association of Financial Executives, Finance and Life e-magazine (FiLi.vn) and Vietstock (Vietstock.vn), the awards were based on a survey of compliance with information disclosure obligations by all 731 companies listed on the HCM City and Hanoi stock exchanges, and 364 of them had complied with all. Then, based on criteria such as liquidity, foreign investment, compliance in terms of financial transparency, successfully conducting the annual general meeting, corporate governance regulations, treasury stock and internal shareholder transactions, and filing ESG reports, 45 were nominated. In the final round, they were divided … [Read more...] about Listed companies receive awards for best investor relations
Việt Nam loses US$350 million due to copyright infringement
Experts at the seminar on copyright infringement in Việt Nam. — Photo courtesy of the organiser Việt Nam ranks third in the region in terms of copyright infringement rate, with 15.5 million people regularly accessing pirated websites. In 2022, the problem of copyright infringement cost the country US$350 million. Phạm Hoàng Hải, Director of the Authority of Broadcasting and Electronic Information, a unit under the Ministry of Information and Communications, said that currently, copyright infringement is extremely complicated. There are a series of pirated websites for football tournaments as well as movies. According to data from SimilarWeb, there are currently about 70 pirated football websites, with more than 1.5 billion views in the years 2022 and 2023. SimilarWeb's data also shows that there are more than 200 pirated movie websites attracting about 120 million views per month, of which the top 10 have more than 66 million views per month. In particular, recently it was … [Read more...] about Việt Nam loses US$350 million due to copyright infringement
PM orders prompt measures to deal with flood consequences
A concrete road in Chau Hoi commune, Quy Chau district of Nghe An province has been destroyed by flash floods.(Photo: VNA) Hanoi (VNA) – Prime Minister Pham Minh Chinh has sent a dispatch to ministries, agencies and localities affected by torrential rains and flooding , asking them to focus on responding to and dealing with flood consequences . The dispatch clarified that since September 25, due to the impact from a low depression, many northern and north-central localities have suffered torrential rains which were measured at 500mm in some places, causing floods and landslides , blocking streets and disrupting production and daily activities of locals, especially in Thanh Hoa, Nghe An, Ha Tinh and Quang Binh province. Torrential rains are forecast to continue in coming days, posing high risks of flash floods and landslides in mountainous areas. In order to ensure safety for people’s life and property, PM Chinh asked the National Steering Committee on Natural … [Read more...] about PM orders prompt measures to deal with flood consequences