EVN to withdraw capital from Thuan Binh Wind Power JSC in Q3

The Electricity of Vietnam (EVN) plans to withdraw capital from the Thuan Binh Wind Power JSC in the third quarter of 2018.
EVN to withdraw capital from Thuan Binh Wind Power JSC in Q3 ảnh 1Illustrative Image (Source: VNA)

Hanoi (VNA) –The Electricity of Vietnam (EVN) plans to withdraw capital from the Thuan BinhWind Power JSC in the third quarter of 2018.

Thuan Binh Wind PowerJSC’s activities include investment in construction of renewable energyprojects such as wind power, solar power and waste-to-power, and provision of consultationservices for renewable energy projects.

Currently, EVN willcontinue processing the equitisation of EVN Power Generation Corporations 1 and2.

At the same time, thefirm will strive to complete the withdrawal of capital in the EVN finance company(EVNFinance), while continue with divestment from the Dong Anh ElectricalEquipment Corporation, the Power Engineering Consulting JSCs 3 and 4 after theMinistry of Industry and Trade approves divestment plans.

EVN also revealed thatthe group has so far finished its divestment from the Thu Duc ElectroMechanical Joint Stock Company (EMC), and launched initial public offering onthe Power Generation Corporation 3. It is preparing to hold first meeting ofshareholders soon.

EVN sold over 58billion kWh of electricity in the first four months of 2018, representing ayear-on-year rise of 10.59 percent.

Domestic commercialpower output rose by 10.51 percent in the four-month period, according to EVN.

In April alone, thecorporation sold over 16 billion kWh of electricity, up 10.34 percent againstthe same month last year.

Electricity lossesin January-April were estimated at 6.81 percent, 0.39 percentage points lowerthan the set target of 7.2 percent.

EVN produced andbought 67 billion kWh of power in four months, a year-on-year rise of 11.08percent, including 18.03 billion kWh in April.

Power transmissionin April was estimated at 15.3 billion kWh, and the figure for the four monthswas 56.4 billion kWh, up 10.8 percent over the same period last year.-VNA
VNA

See more

The Vietnamese section of the Monsoon – Thanh My 500kV transmission line project (Photo: VNA)

500kV transmission line from Laos energised

The Monsoon – Thanh My 500kV transmission line project is designed to import electricity from Laos’ Monsoon wind power plant to Vietnam, adding 600 MW to the national power grid during the 2024–2025 period.​

The entrance gate to Hanoi’s Ciputra Urban Area, where banks are selling apartments and villas. (Photo: cafef.vn)

Banks selling mortgaged assets to recover bad debts

The Viet Dragon Securities Company (VDSC) said that bad debts might continue to increase slightly this year, after a circular allowing banks to reschedule debt repayment periods and maintain the debt group for certain sectors expired at the end of 2024.

Vietnamese Ambassador to Argentina Bui Van Nghi (th fourth from the fright) in the meeting with Governor of Brazil's Espirito Santo state Renato Casagrande. (Photo: VNA)

Vietnam seeks to set up cooperation with Brazilian locality

In his meeting with Governor of Brazil's Espirito Santo Renato Casagrande, Ambassador to Argentina Bui Van Nghi Bui Van Nghi valued the potential for cooperation between the two sides, particularly in priority areas such as tourism, information technology, hi-tech agriculture, and seaport.

Remittances to Vietnam in 2024 are estimated at about 16 billion USD, maintaining the record-high levels seen in 2023. (Photo: VNA)

Remittances surge as Tet approaches

According to the State Bank of Vietnam’s Ho Chi Minh City branch, 9.6 billion USD, or 60% of the total remittances, flew through financial institutions, representing a 140 million USD increase from the previous year.

Bank lending in HCM City achieves high growth last year. (Photo courtesy of ABBANK)

Banks' credit up 11.3% in HCM City in 2024

Total outstanding loans of credit institutions in Ho Chi Minh City as of the end of last year were worth over 3.9 quadrillion VND (153.3 billion USD), a 11.3% increase for the year, according to the central bank.

Ho Chi Minh City received nearly 493 million USD in remittances in the first 20 days of this year. (Photo: https://doanhnhansaigon.vn)

Remittances to HCM City surge ahead of Tet

Ho Chi Minh City received nearly 493 million USD in remittances in the first 20 days of this year, according to Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam's HCM City branch.

Illustrative photo (Photo: VNA)

Retail petrol prices down in latest adjustment

The price of E5RON92 bio-fuel was priced at 20,592 VND (0.82 USD) per litre, representing a 158 VND decrease from the previous baseline, while RON95-III decreased to 21,142 VND per litre, down 78 VND.