Companies

Petrolimex targets 2020 pretax profit to fall 72% on global instabilities

Vietnam National Petroleum Group, known as Petrolimex (HoSE: PLX), sees 2020 pretax profit at VND1,570 billion ($67.5 million), down 72% from 2019 due to coronavirus, trade war, oil price war.

KKR looks to triple Vietnam investments after Vinhomes deal

KKR & Co., which has injected $1 billion into Vietnam, expects to triple investments in the next decade to capture rising demand from the Southeast Asian nation’s growing middle class.

Industrial park developer Becamex targets 2020 profit at $40mln, down 65%

Vietnam’s industrial park developer target 2020 after-tax profit to fall 65% from a year earlier to VND931 billion ($40 million), company said in documents prepared for shareholders’ meeting.

PV Power to invest and build Nhon Trach 3 and Nhon Trach 4 thermal power ...

Vietnam's second-largest electricity producer PV Power officially approval of investment for Nhon Trach 3 and Nhon Trach 4 thermal power plants, with a combined capacity of between 1,300 to 1,760MW.

Vietcombank to issue 241mln shares via private placement to raise ...

Vietcombank is seeking approval to issue over 241 million shares, or 6.5% of charter capital to investors to raise capital, according to lender’s documents prepared for annual shareholders’ meeting.

Vietnam’s cinema operator Beta Media gets $8mln investment from Daiwa PI ...

Vietnamese cinema operator Beta Media has achieved an enterprise valuation of VND1 trillion ($43 million) after getting $8 million funding from the Japanese investment fund Daiwa PI Partners.

Masan’s beverage unit plans to have full ownership in Vinacafe

Vietnamese conglomerate Masan group’s beverage unit has registered to buy the remaining 1.51 percent stake or 401,000 shares in Vinacafe Bien Hoa JSC to raise its ownership to 100 percent.

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

Vietnam Airlines will buy Qantas’s stake in Jetstar Pacific, change its name and restructure the budget carrier to make it more profitable.

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

Ho Chi Minh City lender HDBank plans to convert its consumer finance arm HD Saison into a joint stock company and proceed an IPO, lender’s vice chairwoman Nguyen Thi Phuong Thao said.

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

Dairy giant Vinamilk, which set up a Hi-Café outlet in Ho Chi Minh City last year, plans to expand it into a chain.

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

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.

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Companies

Vietnamese conglomerate Masan Group names Danny Le as new CEO

Sabeco to retain 2020 dividend at 35%, profit projected to drop 39%

Samsung to shift most of its computer LCD production chains to Vietnam