Companies

Budget carrier Vietjet sees 2020 profit to drop nearly 100% to $4.3mln on pandemic

Vietjet Air targets 2020 a pretax profit of VND100 billion ($4.3 million), down nearly 100 percent from 2019 due to impacts from coronavirus, the company said in documents prepared for shareholders’ meeting.

Foxconn says Vietnam is biggest manufacturing hub in Southeast Asia

Key Apple supplier, Taiwan’s Foxconn, has said for the first time that Vietnam is its largest manufacturing hub in Southeast Asia.

Hoa Phat projects 2020 after-tax profit to grow 19% to $387.5mln amid crisis

Vietnam’s steel maker Hoa Phat Group targets VND9 trillion ($387.5 million) after-tax profit in 2020, up 19% from 2019 despite impacts from COVID-19 pandemic.

Vietnam Airport Corp. sees 2020 profit to drop 80% to $86.5mln on ...

State-owned Airport Corporation of Vietnam projected 2020 pretax profit to fall 80% from 2019 to VND2,007 billion due to severe impacts from COVID-19 pandemic, according to documents prepared for shareholders’ meeting.

Covid-19 pandemic encourages foreign firms to speed up purchasing stakes in Vietnamese ...

Several M&A deals have been completed although the global economy is stumbling because of the Covid-19 pandemic. Of which, some Vietnamese brand names have fallen into the hands of large foreign corporations.

HSC targets 2020 after-tax profit at $19.5mln, up 5% from 2019

Ho Chi Minh City Securities Corp. targeted 2020 after-tax profit to increase 5% to VND453 billion ($19.5 million) from VND1,297 billion ($56 million) revenue, up 3%, company’s leaders told shareholders on Tuesday.

TTI to build an R&D center that employs 2,000 people, expand investment in ...

Techtronic Industries plans to build the Vietnam’s biggest R&D center employing 2,000 engineers in Ho Chi Minh City Saigon High-tech Park.

Japan’s MUFG to acquire 49% stake in VietinBank Leasing

Mitsubishi UFJ Lease & Finance plan to invest in Vietinbank Leasing by acquiring a 49% stake in the Vietnamese company, the Japanese firm said in a statement.

State energy firm subsidiary Petrosetco to distribute Apple products

Petrosetco, a unit of PetroVietnam, has become an authorized distributor for all of Apple products in Vietnam market.

Samsung Vietnam launches large-scale recruitment drive in Hanoi

Samsung Vietnam organized a large-scale recruitment drive in Hanoi on Saturday to prepare high-quality human resources for its production and export plans in the coming time.

Coteccons’ Board to get two more foreign members, after two Vietnamese ...

Coteccons’ Board of Directors has approved request of CEO Nguyen Sy Cong and Independent Board member Tran Quyet Thang to withdraw from the positions which will be replaced by two foreign members.

Techcombank sees 2020 pre-tax profit to slightly increase to over ...

Techcombank got shareholders’ approval to set 2020 pre-tax profit target at VND13 trillion ($559.3 million), one percent more than 2020 profit, according to shareholders’ meeting on weekend.

Masan’s 2020 revenue target more than double from 2019’s achievement

Masan Group targets 2020’s net revenue to increase as much as VND85 trillion ($3.66 billion) from VND37.4 trillion ($1.6 billion) recorded in 2019, the company said in documents prepared for shareholders’ meeting.

Vietnamese conglomerate Masan Group names Danny Le as new CEO

The board of Director of Masan Group (Hose: MSN) has appointed Mr. Danny Le to be the CEO of the group for the new term of 2020 – 2025, statement said.

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Companies

Manulife is leading bidder for Aviva Vietnam insurer unit

Vietnam’s dairy giant Vinamilk reports 3% profit growth in 1H

AEON Group to build a 5-hectare mall in Can Tho, its first outlet in Mekong Delta