January 11, 2012
 A man works at a steel factory in Que Vo District, outside Hanoi . Many companies in Vietnam are facing higher operation costs and lower profits. An annual report that ranks Vietnam’s 500 largest companies based on revenues, profit, growth rate, assets, and number of employees shows that returns are declining for private companies. [...]
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November 1, 2011
State oil and gas group Petrovietnam has bid for $1.5 billion of ConocoPhillips oil assets in the East Sea, a senior Petrovietnam official said on Monday. The Hanoi-based group plans to do its utmost to acquire the assets, Nguyen Tien Dung, Petrovietnam’s Deputy Chief Executive Officer, told Reuters on Monday. “The investment is in [...]
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October 30, 2011
Lawyer Pham Thanh Binh, deputy head of Hong Ha Law Firm in Hanoi. A series of loan insolvencies totaling hundreds of billion Vietnamese dong have been detected in Hanoi. This is partly due to the impacts of the economic slowdown, which has savers shying away from legal investment channels because of low profits. They instead [...]
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September 20, 2011
Asia Commercial Bank’s assets will probably more than triple by 2015, making it the first non- government lender to overtake one of Vietnam’s four biggest lenders, Chief Executive Ly Xuan Hai said. Assets of Asia Commercial Bank, the nation’s fifth-biggest bank, are expected to climb to VND900 trillion ($43 billion) by 2015 from about [...]
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July 30, 2011
Saigon Asset Management Corp., run by a former managing director of Vietnam’s biggest fund manager, plans to start the country’s first distressed-assets fund as a credit crunch squeezes small to medium-sized firms. Saigon Asset Management will team up with the investment unit of Vietnam Joint-Stock Commercial Bank for Industry & Trade, or VietinBank, the [...]
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July 26, 2011
Eximbank of Vietnam said on Tuesday its net profit in the first half rose 78.9 percent from a year earlier to VND1.27 trillion (US$61.8 million). Ho Chi Minh City-based Eximbank said in a financial statement that total assets as of the end of June rose nearly 9 percent from the end of 2010 to [...]
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July 8, 2011
State oil group PetroVietnam and its partners may buy $1.5 billion in Vietnamese oil assets in the East Sea from ConocoPhillips , according to PetroVietnam’s chief executive. PetroVietnam’s plan demonstrates a commitment to help protect Vietnam’s sovereignty in the East Sea, as it calls the disputed area, the company’s chief executive, Phung Dinh Thuc, [...]
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April 27, 2011
Sacombank, Vietnam’s fifth-largest partly private lender by assets, reported first quarter net profit rose nearly 12 percent to VND452.98 billion (US$22 million). Total assets as of March 31 slipped 1.2 percent from the end of 2010 to VND140.10 trillion, the Ho Chi Minh City-based bank said in a statement on its business results excluding [...]
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April 17, 2011
Agribank Financial Leasing Company No. 2, a unit of state-owned Vietnam Bank for Agriculture and Rural Development, lost VND3 trillion (US$143 million) in 2009 because of “serious” mismanagement, Vietnam’s state auditor said in a report obtained by Bloomberg News. The auditor recommended in the report that the government investigate any violations and consider restructuring [...]
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January 29, 2011
Vietcombank , Vietnam’s second-largest partly private lender by assets, said gross profit rose 8 percent last year to more than VND5.4 trillion, beating its projection. Total assets rose 20.3 percent to VND306.86 trillion, and loans jumped 24.9 percent to more than VND175 trillion, Chief Executive Nguyen Phuoc Thanh wrote in a report published on [...]
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