Companies

Billionaire Li Ka-shing’s health and beauty retail group opens third store in Vietnam

18 months after making debut in Vietnam with a store in HCM City’s downtown, A.S. Watson Group, the world's largest health and beauty retail group, opened its third store in the city.

Vietnam’s automaker VinFast opens office in Australia

Automaker VinFast, an arm of Vietnam’s largest private conglomerate Vingroup, has entered the Australian market by establishing an R&D center in Melbourne city on Thursday, according to the company’s statement.

Masan subsidiary completes acquisition of German tungsten operation

A wholly-owned subsidiary of Vietnam’s Masan Resources Corporation (MSR) has completed the legal procedures to acquire the tungsten arm of a German high-tech tungsten carbide and powder manufacturer.

Agribank gets lawmakers’ support to add $150mln to charter capital

Vietnam’s legislators supported government’s proposal to increase state-owned Agribank’s charter capital by VND3.5 trillion ($150 million) during a National Assembly meeting on Wednesday afternoon.

LG Chem rides fast in Vietnamese battery market by powering two ...

South Korea’s leading battery maker LG Chem Inc. finds money in Vietnam, a country of two wheels, by powering e-scooters that have been catching on fast.

MK Central Solar to build $696.5mln wind power plant in Ha Tinh ...

MK Central Solar Power got approval to build VND16.2 trillion ($696.5 million) wind farm in Ky Anh district, Ha Tinh province.

Korea's CJ CGV to divest 25% stake in Vietnam's real estate arm

The Korean movie theaters giant, CJ CGV will divest 25% stake in its real estate arm in Vietnam namely CJ Vietnam to improve finance structure hit by coronavirus pandemic, Businesskorea reported.

PVOIL targets 2020 after-tax profit at $16mln, plans to sell jet fuel

PetroVietnam Oil Corporation, which has targeted 2020 revenue at about $2.24 billion, down 35%, plans to sell jet fuel to serve the rising demand as new airlines seek permission to fly.

Vietnam’s KIDO and Vinamilk to form soft drink producer Vibev

Vietnam’s largest dairy producer Vinamilk and KIDO one of leading food & flavor companies in the country have signed an MOU on forming a beverage joint venture called Vibev, KIDO said.

Smartphone retailer Mobile World expects 10 pct profit drop

Electronics retailer Mobile World expects its profits to fall 10 percent this year to VND3.45 trillion ($148 million) due to the coronavirus pandemic.

PV Gas 5-month pre-tax profit seen at $193.5mln, completing 54% whole-year ...

PetroVietnam Gas Corporation, an arm of State energy firm Vietnam Oil & Gas Group, saw Jan.-May pre-tax profit at VND4.5 trillion ($193.5 million), beating the five-month target by 34%.

Sacombank to resolve $473mln bad debt in 2020, profit projected to fall ...

Sacombank, which is striving to be among Vietnam's top ten banks three years from now, targets to resolve VND11 trillion ($473 million) bad debt in 2020, bank's leaders told online shareholders’ meeting.

Telecom giant Viettel gets approval to establish subsidiaries in six ...

The Military Industry and Telecommunications Group (known as Viettel) got approval from the government to set up subsidiaries in the remaining six of the 10 countries where it operates without a subsidiary.

Vietnam ministry rejects rumor of repurchasing Sabeco shares from ...

Vietnam has no intention to repurchase shares in the country’s largest beer maker Sabeco, Dau Tu newspaper cited Deputy Minister of Industry and Trade Do Thang Hai.

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Companies

Vietnam Airlines to buy Australian investor's stake in Jetstar Pacific

HDBank plans to let its consumer finance arm HD Saison going public

Vietnam's largest dairy producer Vinamilk to set up coffee chain