Share issuance for cash

The national flag carrier remains optimistic about the recovery of the market from late 2022 and in 2023. Vietnam Airlines is taking steps to issue shares, scheduled for 2023-2024, in a bid to raise funds and improve the carrier's financial situation. The airline is still struggling with Covid-19 impacts. File photo As a State-owned entity, the airline would need approval from the Government for the issuance plan. The move was revealed in the national flag carrier’s document submitted to the Ho Chi Minh Stock Exchange on measures to halt its continual losses after its stock (HVN) was placed under supervision. In 2021, Vietnam Airlines issued shares worth VND7.9 trillion (US$337.6 million) to existing shareholders and raised its registered capital to over VND22.1 trillion ($945 million). Another plan is to issue shares to the public, and therefore the Government’s stake-holding in the airline. Amid severe impacts from the Covid-19 pandemic, Vietnam … [Read more...] about Vietnam Airlines plans share issuance to raise funds

A handful of commercial electric vehicle (EV) startups are burning through cash fast, racing to bring vans or trucks to market before the funds run out or customers choose to buy from legacy automakers like Ford Motor Co or General Motors Co. Boosted by investor hunger to create the next Tesla Inc, a clutch of commercial EV makers on both sides of the Atlantic have gone public via reverse mergers with special-purpose acquisition companies (SPACs), raising hundreds of millions of dollars as they sought to emulate Elon Musk's success. These include Arrival Inc , Canoo Inc, Lordstown Motors Corp, Electric Last Mile Solutions Inc (ELMS) and REE Automotive Holding Inc. But investors have soured on EV startups and their ability to compete with legacy carmakers, sending their shares to a fraction of their peak prices. This has raised the pressure to produce working vehicles fast if they want to raise fresh funds in an industry where launching a single vehicle can cost $1 billion. "It's … [Read more...] about Burning cash, commercial EV startups race to deliver vehicles

A customer using a tablet at a HDBank (HDB) branch. HDB rose 1.2 per cent Monday. — Photo courtesy of the bank Vietnamese shares opened higher on Monday, led by banking and large-cap stocks which were bolstered by continued improvements in investors’ sentiment. On the Ho Chi Minh Stock Exchange, the VN-Index edged up 0.32 per cent to close Monday at 1,256.75 points. The VN-Index had risen by 3.85 per cent last week. Some 699 million shares worth VND15.8 trillion (US$675.5 million) were traded on the southern exchange. The market's breadth was positive with 271 stocks climbing, of which 75 stocks hit ceiling prices, while 189 stocks declined. The index's rallies were driven by sharp gains in some large-cap stocks, especially in the banking sector. The VN30-Index, which tracks the 30 biggest stocks on HoSE, jumped 0.36 per cent, to 1,276.70 points. In the VN-30 index, gainers included Sacombank (STB), HDBank (HDB), ViBank (VIB), VPBank (VPB), Techcombank (TCB) and … [Read more...] about Shares open the week higher on banking sector

Gas supply system of PV Gas Ca Mau. PV Gas (GAS) topped the list of shares lifting the VN-Index most with a growth of 3.5 per cent. — VNA/VNS Photo Huy Hung Shares climbed for a third day this week on stronger cash flow but divergence is also expanding during the earnings season. The VN-Index on the Ho Chi Minh Stock Exchange increased 0.66 per cent to close Wednesday at 1,249.76 points, lifting its gain this week to 3.6 per cent. On the Ha Noi Stock Exchange, the HNX-Index added 0.77 per cent to close at 298.11 points. The northern market’s index has gained 3.3 per cent in the past three days. Liquidity remained positive with 877 million shares worth VND19.3 trillion (US$833 million) being traded in the two markets. Especially, trading value in HCM City’s exchange hit a 50-day high of VND17.6 trillion. “The market’s uptrend is prolonged due to the positive spread of cash flow,” said Phuong Pham, a stock analyst at Viet Dragon Securities Co in a daily report. “However, … [Read more...] about Shares climb for third day on strong cash flow

Workers at a facility of PetroVietnam Gas JSC (GAS). GAS rose 0.9 per cent yesterday. — VNA/VNS Photo Vietnamese shares rose on Tuesday as risk appetite improved amid the authorities' efforts to curb inflation, promoting economic growth. On the Ho Chi Minh Stock Exchange, the VN-Index rose 0.17 per cent to close at 1,258.85 points. The VN-Index had gained 0.32 per cent to close Monday at 1,256.75 points. Some 721.6 million shares worth VND16 trillion (US$684 million) were traded on the southern exchange. The market's breadth was positive with 270 stocks climbing, of which 12 stocks hit ceiling prices, while 193 stocks declined. The VN30-Index, which tracks the 30 biggest stocks on HoSE, jumped 0.37 per cent, to 1,281.44 points. In the VN-30 index, gainers included Asia Commercial Bank (ACB), FPT Corporation (FPT), PetroVietnam Gas JSC (GAS), HDBank (HDB), Hoa Phat Group (HPG), Military Bank (MBB), Masan Group (MSN), Mobile World Group (MWG), Novaland (NVL), Tien Phong … [Read more...] about Shares rise on upbeat sentiment

At the meeting The Ministry released the information at today's third session on digital transformation at the government headquarters chaired by Prime Minister Pham Minh Chinh, Chairman of the National Committee on Digital Transformation. According to the work plan, the National Committee on Number Transformation meets quarterly. The third meeting aimed to evaluate digital transformation results in the first six months of 2022 and identify solutions and tasks for digital transformation in the coming time. The meeting was connected to the headquarters of ministries, ministerial-level agencies, governmental agencies, and people's committees of provinces and cities virtually. Addressing the opening session, Prime Minister Pham Minh Chinh stated: The document of the 13th Party Congress has identified the national digital transformation as a very important task, associated with three main pillars including the digital government, the digital economy and the digital society in … [Read more...] about Cashless transaction volumes increase by 76 percent in first 5 months: Ministry

Although all the micro-economic and macro-economic advantages are available, it seems that there is no key catalyst for trending towards a new growth level at the stock market. Profits vary Initial statistics show that around 600 corporations have made public their financial statements in the second quarter of 2022. The number could be a bit higher if all the estimated figures were actively made public. Figures will continually be updated over the next few days, but the sales and profits of listed corporations will rise positively. For instance, as estimated by Vndirect Securities Corporation, considering 590 corporations listed by 26 July the total sales and profits in the second quarter increased by 25.3% and 17.9% respectively, over the same period last year. Stocks with high capitalization of more than VND 10,000 bln have recorded an average of 34.3% increase in sales and 24.9% in net profits. It is certainly normal for the stock trading market to have dark and bright … [Read more...] about Stock market showing no indication of growth

Investors watch stock movements in front of a big screen. (Photo cafef.vn) Hanoi (VNS/VNA) - Minister of Finance Ho Duc Phoc has responded in writing to a NA delegate of Lam Dong province on issues related to the management of capital, stock and bond market s. Minister Phoc said that the capital market 's growth rate was over 28.5% a year in 2016-2021, while the stock and corporate bond markets grew over 30% a year. This gradually narrowed the gaps between these markets with the bank credit market and balanced them. Total capital mobilisation in the capital market, including the issuance of stocks, bonds, and equitisation auctions in 2021, reached over 1.12 quadrillion VND, equivalent to 38.7% of the total investment capital of the whole economy. The Ministry of Finance (MoF) assessed that the capital market had played an essential role in mobilising medium and long-term capital for investment in economic development and balanced development between the monetary … [Read more...] about MoF transfers 35 unusual stock mark cases to investigation unit

A worker talking to an investor at MB Securities' office. — Photo courtesy of MBS Despite poor business results in the second quarter, many securities stocks have rebounded sharply after hitting the bottom on June 20-21. Accordingly, Viet Dragon Securities JSC (VDS)'s shares gained 84.7 per cent from VND7,200 a share to VND13,300, while shares of Saigon - Hanoi Securities JSC(SHS) also increased by 65 per cent from VND8,904 to VND14,700. Shares of MB Securities JSC (MBS) jumped 61.3 per cent. Leading securities stocks like SSI Securities Corporation (SSI), Ho Chi Minh City Securities Corporation (HCM) and VNDirect Securities Corporation (VND) to small stocks such as Vietnam Industrial & Commercial Securities Corporation (VIG), Hoa Binh Securities JSC (HBS), and Agribank Securities Corporation (AGR) also surged 30-50 per cent in the last month and a half. Securities stocks have reported a good recovery as the general stock market picked up significantly from the area of … [Read more...] about Securities firms raise capital on recovery of stock prices

The Ministry of Industry and Trade has decided to impose trade remedies against sugar products imported from five ASEAN countries that use Thai sugarcane. — VNA/VNS Photo The Ministry of Industry and Trade has decided to apply measures to prevent evasion of trade remedies against sugar products imported from five ASEAN countries that use Thai sugar materials. It will impose an anti-dumping duty of 42.99 per cent and an anti-subsidy duty of 4.65 per cent on sugar coming from Laos, Cambodia, Indonesia, Malaysia, and Myanmar. However, the imported products will not be subject to the anti-evasion measures if proven to be made from sugarcane harvested in these countries. The tariffs will take effect seven days after the issuance date of the decision (August 2) until June 15, 2026, unless the decision is superseded by new ones from the ministry. The decision followed an investigation by the ministry’s Trade Remedies Authority which concluded that Thai sugarcane products subject … [Read more...] about Trade remedies imposed on sugar imports from five ASEAN countries