Non profit revenue sources

Its revenues for the period were up nearly nine times year-on-year at VND254 billion, according to its unaudited financial statements. It had made a loss of VND43 billion in the first half of last year. A fare subsidy since mid-2022 has helped improved the company’s financial health, its executives said. In September last year, to meet the burgeoning demand, the Hanoi Metro bought two more trains to add to its existing seven. During peak hours since there has been a train every six minutes instead of the earlier 10. This year the company hopes to carry over 10.6 million passengers. Single tickets cost VND8,000-15,000, a day pass costs VND30,000, and a monthly pass is priced at VND200,000. Built at a cost of $868 million with funding from Chinese official development assistance, the elevated route runs more than 13 km log and has 12 stations. … [Read more...] about Hanoi first metro line turns profitable

Masan MEATLife (HSX:MML) saw the strongest growth in the first half of the year, with an increase of 70 per cent to just under than $140 million. According to a recent financial statement, MML has just added the revenue of sausage and canned pork processor Masan Jinju ((HSX:MSJ). However, due to rising costs, MML reported $14.7 million in after-tax losses, 10.5 times the amount reported for the same period last year. The business results of Hoang Anh Gia Lai JSC (HSX:HAG) were also much better than others. In August, HAG gained $27.8 million in net revenue, including $14.3 million from fruits, $7.7 million from livestock, and others. HAG chairman Doan Nguyen Duc thanked three core areas for the results, breeding pigs and growing bananas and durian. "We are fiercely reviving the company for the sake of personal honour and for our shareholders," said Duc. In the first half of the year, HAG generated about $132.5 million in revenue, an increase of 55 per cent on-year, of this, pig … [Read more...] about Agricultural sector sees mixed results

Vinacomin cleared its short-term loan balances by the end of last year For the first half of this year, the group (Vinacomin) reportedly produced 20 million tonnes of raw coal, 25 million tonnes of commercial clean coal, and unloaded 64 million cubic metres of rock and soil, consuming 25.3 million tonnes of coal. In the same period, the group provided more than 21 million tonnes of coal for electricity production, reaching 55 per cent of the plan; increased by 16 per cent, equivalent to an increase of 3 million tonnes compared to the same period in 2022. The first 6-month revenue of the group is estimated to have reached nearly $3.7 billion. With contracts signed for the rest of the year, the amount of coal supplied is about 18.75 million tonnes and the whole year is expected to reach 39.7 million tonnes, an increase of about 1.2 million tonnes compared to the previous year. This is mainly due to the increase in volume of build-operate-transfer thermal power plants and … [Read more...] about Vinacomin navigating to ensure efficiency

How does the Commission for Management of State Capital at Enterprises (CMSC) extend support and critical advisements to the VIMC? Le Quang Trung, deputy general director of VIMC and vice chairman of the Vietnam Logistics Business Association The symbiotic association and support extended by CMSC to businesses, especially the VIMC, is immense and substantial. Every project we undertake, be it short-term or enduring, bears the unmistakable imprint of CMSC’s support, enabling us to overcome various challenges, notably during exceptional periods such as the recent pandemic. CMSC’s partnership has been crucial, aiding us in overcoming challenges related to capital mobilisation and ensuring the smooth implementation of projects. A notable instance is their contribution to the financial and operational restructuring project of SP-PSA, one of our crucial joint venture ports. With the indispensable support from CMSC, we were able to conduct successful negotiations with … [Read more...] about SOE issues can be solved with support

Doan Nguyen Duc, board chairman at Vietnamese agricultural giant Hoang Anh Gia Lai JSC (HAGL), intends to sell Hoang Anh Gia Lai Hotel in Pleiku City, situated in the Central Highlands province of Gia Lai, to make debt payments. The management board of the firm has reached a consensus on liquidation of unproductive properties, especially the sale of Hoang Anh Gia Lai Hotel, which was the first four-star lodging facility in the Central Highlands region. Starting its operation in 2005, the hotel lies near Phu Dong Square in the heart of Pleiku City and includes 117 rooms. The proceeds from the hotel sale will be used to pay the principal and interest on the bonds issued in 2016 at the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), said Duc. The selling price has yet to be announced. The firm had earlier sold two resorts in Quy Nhon City in the south-central province of Binh Dinh, and in Da Lat City under Lam Dong Province, a hotel in Da Nang … [Read more...] about HAGL chairman plans to sell hotel in Vietnam’s Central Highlands

General Director of PetroVietnam Le Manh Hung inspects Sao Vang project. (Photo: VNA) Hanoi (VNA) – The Vietnam Oil and Gas Group (Petrovietnam) is comprehensively implementing a series of solutions to maintain its output of oil and gas in the face of various challenges. According to Petrovietnam, since the beginning of the year, there have been many challenges in the supply and demand in the market. Low electricity mobilisation has resulted in low gas production compared to the planned targets. Most of Vietnam's flagship oil fields are naturally declining, and Petrovietnam’s member companies are unable to make large investments in developing new fields. As a result, the goal of increasing long-term reserves and meeting planned production targets of units has been adversely impacted. Additionally, drilling plans have faced difficulties in mobilising offshore drilling rigs and equipment due to a tight market and high rental costs. Some units are unable to make … [Read more...] about Petrovietnam works hard to maintain oil output

Tra fish processing for export (Photo: VNA) HCM City (VNA) – The export value of aquatic products is estimated at 862 million USD in September, equal to that in the same period last year, and 16 million USD higher than that of August, according to the Vietnam Association of Seafood Exporters and Producers ( VASEP ). In the January-September period, the revenue reached 6.6 billion USD, down 22% year-on-year. VASEP's Communications Director Le Hang said that in September, some key exports like shrimp and tuna have seen good recovery to the levels of the same month last year. Notably, tra fish exports recorded a year-on-year growth rate of 9%. Hang said that in the first nine months of this year, shrimp exports fetched 2.55 billion USD, 25% lower than that of the same period of 2022. However, in recent months, exports to the two key markets of the US and China have increased, and some main markets in the Comprehensive and Progressive Agreement for Trans-Pacific … [Read more...] about Aquatic product exports see slight increase in September

The Metro Star project was named complex with the most beautiful architectural design last year To mark the 18th anniversary of the founding of Metro Star Investment Co., Ltd. on September 28, the company announced a new 10-year plan and kicked off a sales programme for the Metro Star project in Thu Duc of Ho Chi Minh City. To express its gratitude to customers, the company introduced a programme of continuous capital funding over the next decade based on a business model of developing a series of projects along six metro lines in the city. Metro Star has focused on developing a chain of projects along the metro lines since its early years of establishment, becoming the first company in Vietnam to follow this trend. Over the past 18 years, this company has scooped plenty of golden land located next to major stations along the metro routes, while planning effectively and closely following the city’s metro development roadmap. As a result, the land and project scale has … [Read more...] about A golden decade up ahead for Metro Star

The EU official began implementing the transition period of the Carbon Border Adjustment Mechanism ( CBAM ) from October 1. As a result, iron and steel, cement, and fertiliser manufacturers in Vietnam are required to report total verified greenhouse gas (GHG) emissions embedded in goods exported to the EU. At an event on green steel production at the end of September, Nghiem Xuan Da, chairman of the Vietnam Steel Association, said that the country is taking the first steps to build a carbon-neutral roadmap for the steel industry. "Towards 2025, the steel industry aims to reduce GHG emissions by 10-30 per cent by optimising processes, energy, raw materials, and technology. In 2025-2030, the industry will use low-carbon materials and increase the amount of hydrogen gas in steel factories by 30 per cent," Da explained. Despite the ambition to reduce GHG emissions, the CBAM will pose a major challenge for Vietnamese steel exporters, according to Da. In the first six months of 2023, … [Read more...] about CBAM heralds new journey for sustainable energy use

Many brands in Vietnam invest to develop commercial conversation to better serve their customers. (Photo: Infobip) HCM City (VNS/VNA) - Brands in Vietnam and the Asia Pacific region are strongly investing in commercial conversation to improve the customer experience, experts said. About 77.9 million Vietnamese residents use the Internet out of a total population of 98.5 million as of January 2023, which contributes to the popularity of social networking platforms. Therefore, the potential for conversational commerce in Vietnam is incredibly wide. Telecommunications service providers in the country have used conversational commerce platforms for account notifications and to offer hyper-personalised promotions and discounts to customers. In addition to Facebook and Instagram, Vietnamese are very active in using communication apps such as Zalo and Viber. Furthermore, e-commerce is one of the fastest-growing business segments in the country. Many online retailers in Vietnam … [Read more...] about Customer experience, business expansion driving conversational AI investment