Richard zirinsky real estate

Last year, the number of banks and real estate enterprises that issued bonds to attract capital accounted for a large proportion of the market. In January this year alone, real estate companies lured more than 50 percent of the total amount of money mobilized in the bond market. In recent years, many large real estate companies have a capital value of tens of trillions of Vietnamese dong but their stock prices have dropped to below VND10,000 per share. Now, banking stocks have been experiencing the same situation. For instance, Saigon Hanoi Commercial Bank stocks (SHB) were below par value although its pre-tax profit exceeded VND3 trillion last year. Similarly, the price of Kien Long Bank’s stocks (KLB) also hovered at its IPO value. Even the price of Lien Viet Post Bank’s stocks (LPB) was merely above VND7,000 per share. When the stock prices plummet heavily, it means that the capital mobilization channel in the stock market is no longer attractive. Banks cannot issue … [Read more...] about Enterprises race to mobilize capital from corporate bonds

Tran Dao Duc, deputy general director of CEO Group, one of the largest developers of condotels, said that the guidance is a basic movement on the legal status of condotels in Vietnam. “Its issuance has been awaited by developers for the last three years. Thousands of condotels are equivalent to tens of billions of US dollars. Everyone in this business will profit from the new guidance, from developers to buyers,” he said. … [Read more...] about Brighter condotel future set for both investors and buyers

Foreign investors were net sellers for the eleventh consecutive session on all three bourses, with a net sell value of VND143 billion ($6.17 million). Selling pressure was mostly focused on VCB of Vietcombank and HAG of agricultural giant Hoang AnhGia Lai, which actually rose 4.7 percent to its ceiling price. … [Read more...] about Bank stocks lead VN-Index recovery

Evrard Bordier, CEO and managing partner of Bordier & Cie (Singapore), noted that MB Private represents a crucial evolution in the private banking industry. He is delighted that MB has chosen to work with Bordier in building its first wealth management unit. … [Read more...] about MB launches wealth management arm

In the other direction, ROS shares of real estate developer FLC Faros was again the biggest losing stock on HoSE, falling 4.8 percent. The stock has been on a nosedive, having hit its floor price in 12 out of the last 16 trading sessions, losing a total 56.6 percent in the period. … [Read more...] about VN-Index gains for fourth straight session