BIDV, Incombank name consultants (09-07-2007) HA NOI — Foreign consultants have been named to advise in the equitisations of the Bank for Investment and Development of Viet Nam (BIDV) and Incombank. Morgan Stanley Dean Witter Asia (Singapore) Pte will act as consultant for BIDV's equitisation this year, while JP Morgan Securities Asia Pacific Ltd will hold Incombank's hand during the process. Morgan Stanley lowballed other bidders, coming in with an offer of US$1.8 million for the contract, compared to as much as $7 million bid by UBS. Morgan Stanley also had the second-highest technical score of the leading bidders, at 76.5, coming in only behind Merrill Lynch, at 87.2. JP Morgan topped the technical score table in the Incombank bidding process, followed by Merrill Lynch and Lehman Brothers. Incombank chose not to disclose the amount of JP Morgan's winning bid. The two State-owned banks planned to sign contracts with their newly selected consultants later this week. The foreign … [Read more...] about BIDV, Incombank name consultants
Merrill lynch asia pacific ltd
Prospect of Asia-Pacific economy in 2015: Mixed advantages and challenges
Sharp drop in oil prices and increase of US dollar has confronted domestic currencies of developing economies with new challenges. This is a noticeable maker of the world economy in general and the Asia-Pacific economy in particular in 2014. Nevertheless, Asia-Pacific has been identifies as the "the pace setter" of the world economic growth. The economy of Asia-Pacific in 2014 As compared with other economies in the Asia-Pacific region, the US economy proved to be the most positive one, especially its recovery during the last two quarters of the year and the growth of 3.5% throughout 2014. Besides, strong job growth dragged its unemployment rate down to below 6% in 2014. With the recovery of the "leading" position of the US economy, the US Federal Reserve (FED) has shifted to a more intermediary role in the economy with its decision to bring to an end the third round of quantitative easing programme (QE3) on 30 October, 2014 (1). Though the Fed has not raised existing interest rates … [Read more...] about Prospect of Asia-Pacific economy in 2015: Mixed advantages and challenges
Gov’t agrees on banks’ foreign advisors
Two state-run banks have received the nod from the Vietnamese government to pick up foreign consultants for their equitization process this year. Morgan Stanley Dean Witter Asia (Singapore) will advise Bank for Invesment and Development of Vietnam (BIDV) leading up to its initial public offering (IPO) while JP Morgan Securities Asia Pacific Airlines Ltd will support Incombank through the process. Both lenders have IPOs scheduled for the fourth quarter this year. … [Read more...] about Gov’t agrees on banks’ foreign advisors
BUSINESS IN BRIEF 18/9
Vietnamese businesses in Europe meet in Hungary The 10th Conference of Vietnamese Businessmen in Europe is taking place in Budapest, Hungary from September 16-18 with the focus on the EU-Vietnam Free Trade Agreement (EVFTA). The highlight of the conference is a seminar on opportunities and challenges brought by the EVFTA on September 17. Ambassador-head of the EU Delegation to Vietnam Bruno Angelet was scheduled to deliver a speech on this issue. The conference is the biggest event of the Vietnamese entrepreneur community in Europe. Held annually since 2006, it has brought together leading Vietnamese enterprises operating in Europe. This year's event saw the first-time presence of the European Vietnamese Youth Business Alliance. Hanoians snapping up Da Nang property Savills Vietnam said that Hanoians were attracted by a variety of factors, including completed infrastructure, bright tourism prospects, sales policies and a young, dynamic and green city. Da Nang pioneered in luxury … [Read more...] about BUSINESS IN BRIEF 18/9
Vietnam inflation slows, central bank signals rate-cut scope
Vietnam’s inflation slowed for a third month in November, and the central bank signaled it may consider lowering interest rates. Consumer prices rose 19.83 percent from a year earlier, after climbing 21.59 percent in October, the General Statistics Office said in Hanoi Friday. The State Bank of Vietnam has room to cut policy rates and lower the dong deposit rate cap if month-on-month inflation is less than 1 percent, Governor Nguyen Van Binh told lawmakers Friday. Prices rose 0.39 percent in November from October. Vietnam’s inflation remains the highest in a basket of 17 Asia-Pacific economies tracked by Bloomberg, compounding risks to economic growth from a trade deficit and a faltering global recovery. Neighbors Indonesia and Singapore have eased monetary policy in recent weeks to shield expansion, as the impact of Europe’s sovereign-debt crisis saps demand for Asian exports. “The temptation to cut rates is always there when they see inflation falling but … [Read more...] about Vietnam inflation slows, central bank signals rate-cut scope