Vietnamplus

Retail stocks have entered a recovery phase following the general market's upward trend, given their bright long-term prospects.

NovaGroup Joint Stock Company (NovaGroup) has just registered to buy 8 million shares of No Va Real Estate Investment Group Joint Stock Company (Novaland) by a transfer of share ownership. ​

Japanese DI Asia Industrial Fund (DIAIF) announced it would sell all shares in Viet Nhat Medical Equipment from August 27 to September 25.

The Commission for the Management of State Capital at Enterprises (CMSC) must continue to support managers of 12 struggling mega-projects under the Ministry of Trade and Industry with the State’s capital investment, heard a conference in Hanoi on March 19.

The International Finance Corporation (IFC) investor group is now no longer a major shareholder of the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), after selling more than 55.7 million shares of the bank.

KEB Hana Bank of the Republic of Korea (RoK) has become a strategic shareholder of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), helping the latter to have the biggest charter capital among Vietnamese banks.

A memorandum of understanding (MoU) on cooperation in researching in the field of liquefied natural gas (LNG) and gas in Vietnam was signed between the Vietnam National Petroleum Group (Petrolimex) and the JXTG Tsutomu Sugimori Group of Japan in Hanoi on July 1.

Increasing demand for green, environmentally-friendly materials and devices may help Viglacera earn higher-than-expected pre-tax profits this year.

VNDirect Securities Corporation (VNDS) expects its post-tax profit to grow 31 percent year on year in 2019 to 487 billion VND (20.9 million USD), attendees heard at the firm’s annual shareholder meeting on April 18.

Vietnamese shares are forecast to advance in March as investors may seize the chance to invest in companies that are about to provide clearer visions for 2019 at their annual shareholder meetings.

Most banks will not officially set their annual targets until their shareholder meetings in April, but many bank leaders are optimistic about 2019 with plans to increase profits through cutting operating costs and promoting digital services.

PV Oil’s locking of the foreign ownership ratio at 6.6 percent is a temporary measure before the Government endorses its new capital divestment plan, said General Director Cao Hoai Duong.

Dragon Capital, a Ho Chi Minh City-based fund management company, has become a major shareholder in Vietnam’s three biggest securities firms.

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has officially completed a plan to reduce its holding ratio at other credit institutions to below 5 percent as required by the central bank.

The State Bank of Vietnam (SBV) has decided to push ahead with restructuring the banking system, applying stricter measures to effectively prevent cross-ownership at commercial banks.

Shareholders of Vietnam Airlines will gather at the annual general meeting in Hanoi on May 10, the third one since the company completed equitisation in 2015, to discuss a series of important issues including the modification of the internal management regulations.

Foreign investors can now acquire more than 49 percent of shares, the previous limit on foreign ownership, in PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo), the operator of Phu My fertilizer plant.

Low-cost airline Vietjet Air aims to earn nearly 51 trillion VND (2.24 billion USD) in revenue and over 5.8 trillion VND (254.4 million USD) in profit, up 20.5 percent and 10 percent, respectively in 2018.

The Saigon – Hanoi Bank (SHB) plans to raise its charter capital by more than 1.2 trillion VND (52.8 million USD) to 13.24 trillion VND (582.56 million USD) in 2018.

The Ministry of Transport (MoT) will transfer its rights to purchase shares additionally issued by the Vietnam Airlines Corporation through auction at the Hanoi Stock Exchange.