Litchi sales

The flag carrier is looking for potential investors to acquire a stake in Pacific Airlines while trying to evaluate its value, and whether a private placement offer or public auction is suitable for the deal, Vietnam Airlines head accountant Tran Thanh Hien told shareholders at the annual general meeting Tuesday. There are several different decrees on state capital management that should be consulted for each of the two options, which Vietnam Airlines are studying in great depth, he said. Another challenge involves Pacific Airlines having accumulated a loss, with extra rules governing the sale of such companies, he added. Hien said Vietnam Airlines is requesting the government to help it find a suitable investor in Pacific Airlines in a way that ensures transparency in legal implementation. The state-owned carrier said in a recent report that Pacific Airlines is in a "severe" financial situation and is facing insolvency. The low-cost carrier is reporting an accumulated loss … [Read more...] about Vietnam Airlines faces legal headache in sale of ailing Pacific Airlines

A few of the educational institutions in Nguyen Hoang Group's ecosystem According to Bloomberg, Nguyen Hoang Group is working with a financial advisor to find a buyer for a minority stake of the company. They have gone out to potential purchasers, including private equity firms and other industry players, to evaluate interest. However, the sources said there is no guarantee that the Ho Chi Minh City-headquartered group will follow through with the planned divestiture. Nguyen Hoang Group is a world-class international education service provider that has successfully established a range of state-of-the-art national and international schools, universities, and partnerships across Vietnam and has 23 years of experience and expertise. The group's website stated, “Putting people at the centre of all its practices, Nguyen Hoang Group has designed a comprehensive educational system for all levels from kindergarten to PhD that are available in both national and international … [Read more...] about Vietnam’s educational services provider Nguyen Hoang Group to mull over stake sale

With the launch of its revamped offering, Kredivo and VietCredit pioneer by providing a very unique product in the Buy Now Pay Later space across the country, in line with its ambition to bring innovative payment solutions to the Vietnamese market, for the benefit of the Vietnamese people. According to Kredivo, the Vietnam e-commerce industry has some similarities with Indonesia in respect of the tremendous potential it represents as well as some of the challenges both face. In Indonesia, Kredivo has contributed to remove the obstacles of the country's online retail industry by introducing the most advanced digital credit payment method, enabling Kredivo’s 5 million+ users in Indonesia to get instant access to flexible and affordable credit, and the merchant partners also benefit from instant point-of-sale financing, powered by its unique 2-click checkout. That makes Kredivo a market leader with at least 50 percent Buy Now Pay later wallet share across most of the major Indonesian … [Read more...] about Kredivo introduces its newest payment methods in Vietnam

SEOUL -- Office worker Park Mi-won had never bought her lunch from a convenience store, until her favourite lunch buffet recently raised prices by more than 10% to 9,000 won ($7) as South Korean inflation soared to a 14-year high. "After the price rise, I went to convenience stores instead, where I thought the prices were reasonable while food also tasted good," the 62-year-old said. "So now I go there two to three times a week." Global food prices surged 23% last month from a year before, according to an agricultural arm of the United Nations. The crisis in Ukraine has impacted supplies of grains from there and Russia, and caused energy and fertiliser prices to soar. Offering cheap instant noodles, sandwiches and "gimbap" (rice rolls) for under $5, convenience stores are gaining in popularity as salaried workers like Park seek ways to cut costs. An office worker eats his lunch at a convenience store in Seoul, South Korea, June 24, 2022. Photo: Reuters South … [Read more...] about S.Korean office workers hit convenience stores as ‘lunch-flation’ bites

According to OnPoint’s statement, SeaTown's expected total investment of up to $50 million will be the largest private investment in the Southeast Asian e-commerce enabler industry in the last five years. It will support OnPoint in further investing in its best-in-class omnichannel marketing and sales solutions to better serve brands and consumers. In addition, the company said, the partnership would allow the company to tap into SeaTown's vast networks and experience in the digital economy and consumer sectors across Southeast Asia and globally. Most recently, SeaTown made investments in the CrownX Corporation and Golden Gate Group in Vietnam. Dickson Loo, managing director at SeaTown said, "In one of the fastest-growing e-commerce markets globally, OnPoint has proven to be the best-in-class e-commerce enabler supporting a large portfolio of local and international brands. We strongly believe that, with its unparalleled experience and capabilities, OnPoint is well-positioned … [Read more...] about Vietnam’s OnPoint bags $50 million in Series B from SeaTown

Inside a wood production line of Truong Thanh Furniture Corporation. — Photo truongthanh.com As wood export turnover is rebounding with rising demand in the domestic market, the revenues of wood enterprises are expected to advance. However, skyrocketing prices of raw materials and logistics costs will weigh on these companies’ gross profit margin in 2022. VNDIRECT Securities Corporation (VNDIRECT) estimated that the total revenue of listed wood and wood products companies in the first quarter (Q1) of 2022 rose by 10.2 per cent year-on-year thanks to the recovery of wood producers in the south. After the social distancing order was lifted, most wood companies in the southern region resumed operations at 90 per cent capacity in the first quarter of 2022, while in the second half of 2021 it was only 60-65 per cent. The export wood enterprises achieved better business results in Q1 of 2022. Specifically, Truong Thanh Furniture Corporation (HoSE: TTF) and Phu Tai JSC (HoSE: PTB) … [Read more...] about Rising costs cast doubt on wood companies growth prospects

Since April stores and retailers in the area have gradually been running out of formula. To feed her 10-month-old son, Hien has been visiting Target, Walgreens and other stores far away from home, some even two hours away, only to find shelves that used to be filled with formula bare. Last weekend the 28-year-old rushed to a pharmacy 30 minutes away from her home in Anaheim, California State, after a friend called to tell her she saw it stocking baby formula. Fortunately, she was able to get one small tin. "But it is only enough to feed my baby for a week," Hien, who has difficulties breastfeeding, lamented. "I feel helpless when I can't even get the most basic product to keep my baby fed and nourished." There is similar frustration throughout the country as a baby formula shortage grips the U.S. Formula is the only option for many parents, who cannot produce enough milk to meet their child's requirements. Others choose not to breastfeed due to pain or discomfort, while … [Read more...] about Vietnamese in US grapple with baby formula shortage

With the launch of its revamped offering, Kredivo and VietCredit are pioneering by providing a very unique product in the Buy Now Pay Later space across the country. It is in line with its ambition to bring innovative payment solutions for the benefit of the Vietnamese people. In the last few years, Vietnam's e-commerce has experienced unprecedented growth and evolution, becoming one of the fastest-growing digital economies in Southeast Asia. It is expected to become one of the largest digital economies over the next few years. According to the Vietnam E-commerce Association, e-commerce grew by more than 20 per cent in 2021 and is valued at $16 billion. Market growth and potential rely on solid fundamentals, including a large and young population, high internet and mobile devices usage, and a high online purchase frequency. To sustain and increase the industry’s development rate over the coming years, the Vietnam e-commerce ecosystem has to solve some structural bottlenecks, … [Read more...] about Kredivo introduces its newest Buy Now Pay Later offer

Japan's Sony is launching a new brand that will offer PC gaming gear, the company announced Wednesday, as it tries to compete for a share of the lucrative gaming peripherals market. Sony is looking to expand beyond its flagship PlayStation console and boost revenue from other sectors, including PC and mobile gaming. The gaming peripherals market of items used by players was valued at $3.88 billion globally in 2019 according to Grand View Research. Sony's first offerings from its new Inzone brand will be three wireless headsets and two monitors, the priciest of which will retail for a suggested $899.99 in the United States. "The market has been expanding with a higher interest in gaming with the spread of esports tournaments and the advancement of gaming entertainment," said Yukihiro Kitajima, head of Sony's game business and marketing office, in a statement. Sony is "very late" to the "hopelessly crowded" sector, said Serkan Toto, CEO of game industry consultancy Kantan … [Read more...] about Sony launches PC gaming gear, expanding beyond PlayStation