By Nguyen Ha  August 18, 2018 | 07:31 am GMT+7 Vietnam last year approved a bill legalizing sports betting The Ministry of Finance has proposed the removal of some criteria for investing in horse and dog races. The ministry asked the government Thursday to consider removing a regulation that requires operators of a bookmaking business to have a minimum capital of VND1 trillion ($43.2 million) to invest in betting on horse races and VND300 billion ($12.95 million) for betting on dog races. It also proposed the removal of other rules regarding the precision and upgradability of technical equipment in a racecourse. The suggested removals are part of the ministry’s plan to reduce over 51 percent of business conditions it manages. Vietnam last year approved a bill legalizing sports betting, and in June, the government promulgated a decree regulating the sports-betting business. Opening this door of opportunity has drawn special interest from foreign investors … [Read more...] about Vietnam finance ministry suggests simpler betting rules
Bank tickers anticipated upbeat momentum ahead
Despite some corrections in the first half, bank tickers are expected to lead the market in the second half, buoyed by dwindling provisioning and upbeat profit prospect. Bank tickers anticipated upbeat momentum ahead Hoang Huy, head of Equity Research at Ho Chi Minh City-based KIS Vietnam Securities Corporation, with price-per-earnings ratio averaging 17.1x, the VN-Index hovers in an attractive pricing zone to investors in the context listed firms anticipate a 20 per cent jump in their profit throughout the year. Of the tickers, those in banking, real estate, and consumer goods sectors appear most promising during the rest of the year. Bank tickers are even expected to lead the market upward trend. In Huy words, lending rate tending to go up will help improve the net interest margin (NIM) in banks’ lending, meanwhile banks have reported rising incomes from service segment amid lower needs for provisioning. In fact, total operating income of 16 listed banks jumped … [Read more...] about Bank tickers anticipated upbeat momentum ahead
Sugar firms anticipated more buoyant upcoming fiscal year
Positive factors apprear promising a more upbeat upcoming fiscal year for sugar firms The recently released financial statement of Son La Sugar JSC (SLS) showed that in the fourth quarter of the company’s 2017-2018 fiscal year from July 1, 2017 to June 30, 2018, it fetched VND144 billion ($6.3 million) in revenue, equal to the number recorded one year ago, but its post-tax profits plunged by 39.3 per cent. For the whole fiscal year 2017-2018, the company’s post-tax profit decreased by 28.9 per cent on-year to VND116 billion ($5.13 million). Lower profits against augmenting asset value have led to a sharp fall in the company’s major profitability indexes. Accordingly, its return on asset (ROA) ratio fell to 8.2 per cent from 17.8 per cent in the same period last fiscal year, while its return on equity (ROE) ratio dropped to 24.2 per cent from 38.8 per cent. The SLS results reflect a development shared by most other sugar firms in the 2017-2018 fiscal year. In the … [Read more...] about Sugar firms anticipated more buoyant upcoming fiscal year
PHI Group enters competition in Vietnamese real estate market
Through the co-operation with Hanoi MHD JSC, PHI Group, a diversified holding company from the US focused on mergers and acquisitions and investments in numerous sectors, will establish solid operations in the real estate market and development in Vietnam. PHI Group and MHD will establish a real estate sub-fund and invest and develop property projects together. Illustration image Recently, PHI Group signed a Memorandum of Understanding (MoU) for a comprehensive cooperation to partner up with Hanoi MHD. According to the MoU, PHI will assist MHD to become a publicly traded company in the US or international stock markets. Besides, PHI will engage MHD for the execution of its building projects in Vietnam, simultaneously, the two parties will cooperate to establish and invest in a real estate sub-fund under the master Reserved Alternative Investment Fund (RAIF) set up by PHI in accordance with the Luxembourg Institutional Bank Fund regulations. It is expected that the size of the … [Read more...] about PHI Group enters competition in Vietnamese real estate market
Quang Nam welcome the Reinhardt Reissner Big Band’s music performance
In a joyful atmosphere of Quang Nam rural market and the exciting music performance of the Reinhardt Reissner Big Band–Brass Music From Bavaria, a variety of specialties and seafood, your Saturday night will be more happy with family and friends. Bavarian folk music will be held from 6.30pm to 10pm, on August 18 Bavarian folk music made famous world wide through folk festivals such as the Oktoberfest, but also played at weddings on the country and in the city. To contribute to international friendship between Germany and Vietnam, the musicians of Reißner Big Band choose to stay at Palm Garden Resort and perform at the BBQ seafood dinner buffet. The party will be held from 6.30pm to 10pm, on August 18 with priced at VND650,000 a person including BBQ buffet, free flow of soft drink and local beer. They carry their wind instruments: tuba, trombone, trumpet, saxophone, and clarinet. Highlights in the band’s history include a concert during a general … [Read more...] about Quang Nam welcome the Reinhardt Reissner Big Band’s music performance