Talking Shop (05-01-2006) Stock market auditing up to scratch despite concerns Up to now, the State Securities Commission (SSC) has permitted a mere eight out of 92 accounting and auditing companies to audit securities companies as well as stock issuing and listing organisations. However, some wonder about the quality of these firms. Bui Van Mai, director of the Ministry of Finance's Accounting Regime Department, commented on this issue. How do you feel about the SSC's selection of auditing companies? I think that their selection is quite accurate because all eight firms (including three foreign-invested and five domestic firms) are presently the largest auditing enterprises in the Vietnamese market. Many auditors hold global standard auditing certificates from the United Kingdom's Association of Chartered Certified Accountants (ACCA). These companies also have more than one decade's experience in supplying auditing services. Do other companies also want to audit listings and … [Read more...] about Stock market auditing up to scratch despite concerns
Small investments in stock market
In the next five years, the capital invested for the development in Viet Nam is estimated at about US$140 billion. The development of the capital market, especially the stock markets attracted the attention of most organizations and experts who attended the conference held in Ha Noi on Monday, Jan 22. This was a conference on finance and capital in Viet Nam with the attendance of more than 400 local and international experts, enterprises, financial organizations, funds such as: World Bank (WB), Deutsche Bank, Asian Development Bank (ADB), Bao Viet Financial Group, Petrol Vietnam Finance Company (PVFC), Bank for Investment and Development of Viet Nam (BIDV), Viet Nam Technological and Commercial Joint-stock Bank (Techcombank), Viet Nam International Joint-stock Bank (VIB Bank), etc. Capital Mobilization from Stock Market According to Mr. Omkar Shrestha, deputy director of ADB in Viet Nam, the country's government needs to have more policies encouraging small- and medium-sized … [Read more...] about Focus on Development of Stock Market
Vietnam's stock market has travelled a bumpy road during its 12-year lifetime. Minister of Finance Vuong Dinh Hue told VIR's Huu Hoe that the Ministry of Finance (MoF) and State Securities Commission (SSC) were focusing on restructuring the stock market to improve its efficiency. What are the major achievements of Vietnam's stock market? After 12 years, Vietnam's stock market has seen many achievements. During 2000-2005, the stock market's capitalisation to gross domestic product (GDP) ratio was around 1 per cent only, but this ratio reached 47 per cent in 2007 and more than 30 per cent in recent years. Within 12 years, the stock market has mobilised around VND650,000 billion ($31.2 billion), in which VND550,000 ($26.4 billion) was mobilised since 2005. The number of listed firms has continuously increased from only two companies to 705 companies now. The size of listed companies is constantly expanding, while many giant companies, banks and corporations are formed by raising … [Read more...] about MoF’s tool box to fix stock markets
Poorly managed and overrun by investors who act like gamblers, Vietnam's stock exchanges may have been born into a country that wasn't ready for them. Investors watch market movements at Asia Commercial Bank in Ho Chi Minh City … [Read more...] about Can Vietnam handle its stock market?
Construction cranes and unfinished high-rise buildings surround the silty marshland where a year from now Cambodia hopes to turn the page on decades of upheaval by opening a stock exchange. The idea of a Cambodian stockmarket has been floated since the 1990s but has struggled for traction in a country known for a culture of political impunity, chronic poverty and a history of violence, including the Khmer Rouge "Killing Fields." But authorities argue those days are over and plan to sign a deal this month with World City Co Ltd, a South Korean-backed developer, to start building a $6 million, four-storey stock exchange on the waterfront of a new financial district. … [Read more...] about After delays, Cambodia rekindles stock market dream