Briefs (16-07-2011)

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VietNam News English - 35 month(s) ago 14 readings

HSBC Viet Nam has been named the Best Foreign Commercial Bank in Viet Nam by FinanceAsia, one of Asia's leading banking and finance publications.

HCM CITY —

The bank has won the award for six consecutive years.

Over the previous year, the bank expanded its product offerings to small – and medium-sized enterprises (SME) and individuals and increased the number of credit cards in force by 99 per cent.

City to host software testing confab

HCM CITY — HCM City will host the second Viet Nam International Software Testing and Automation Conference (VistaCon) in December, seeking to enhance Vietnamese engineers' practical knowledge of software testing.

Four key topics at the VistaCon 2011 will be automatic testing, other testing methodologies beside Agile, testing for agile software, software processing and trade in IT services in a multi-cultural context.

Software testing firm LogiGear Viet Nam is the organiser of VistaCon 2011.

Hospitality professionals to gather

HCM CITY — A hospitality management conference will be held in HCM City in September to develop an overview of the Vietnamese market, assess the current situation and explore opportunities for further development.

Irving Seminar & Training, a Thailand-based company said it would help hotel owners, investors and operators learn about the latest trends and best practices in hospitality management.

It would also have experts and experienced business leaders from across the hospitality industry in many countries analyse problems and offer advice on overcoming them.

PM okays computerised lottery

HA NOI — Prime Minister Nguyen Tan Dung approved the establishment of Viet Nam Computerised Lottery Company.

This will be a State-owned limited liability company with a charter capital of VND500 billion (US$24.3 million), in which the State contributes VND300 billion ($14.3 million) and the rest from the Investment and Development Fund.

The company aims to operate nation-wide and its proceeds will go to medical facilities, education, and social welfare for localities that host its services.

Song Da 7, BIDV join hands

HA NOI — Song Da Urban and Industrial Zone Development and Investment Joint Stock Company (SUDICO) has just established a partnership agreement with the Thanh Xuan Branch of BIDV for credit supply and banking services to 2015.

Under the agreement, the two sides commit to long-term co-operation through mutual supports in suitable operating and trading fields.

SUDICO is under the Song Da Corporation. The company does business in real estate, mineral exploitation, housing construction and transportation.

BNP Paribas ups stake in local bank

HA NOI — Orient Commercial Joint Stock Bank (OCB) has signed an agreement to issue an additional 27 million shares to BNP Paribas (France) on Monday, following the approval of the Prime Minister.

This transaction raises the capital contribution of BNP to 20 per cent (US$143 million equivalent) of OCB's charter capital.

BNP became a strategic alliance shareholder of OCB from 2007.

The two sides implemented programmes on risk control, technology modernisation and will foster future co-operation on trade finance, and import and export sectors.

Province gets first international school

BA RIA-VUNG TAU — KinderWorld Education Group yesterday opened Singapore International School in Dai An Residential Area in Vung Tau City.

The school was built on an area of 8,051 squ.m with 40 classrooms and other rooms that support learning.

This is the first international model in Ba Ria-Vung Tau Province that has similar standards to overseas curricula.

Vincom's overseas bond issue raises $40m

HA NOI — Real estate developer Vincom (VIC) has raised US$40 million from sales of international bond. Singapore-based Credit Suisse AG arranged the sale of the bonds, which carry an 11-month term and pay a yield of 6 per cent.

The sale marks the second time Vincom has successfully raised capital on the international market. It listed $100 million worth of convertible bonds in Singapore in 2009.

Three firms to list on HCM City Exchange

HCM CITY — Hoi An Tourist Service Co and Tien Giang Construction and Investment Co plan to list shares on the HCM City Stock Exchange later this month. Hoi An shares will list at a reference price of VND17,600, while those of Tien Giang Construction will list at a price of VND25,000 per share.

BIDV Securities Co will also list shares representing its entire charter capital of VND865 billion (US$42 million) on the southern bourse next Tuesday, coded BSI, at a reference price of VND10,300 per share. The company last year earned VND423 billion ($20.5 million) and posted a net profit of VND11.4 billion ($553,400).

Newly-listed real estate firm falls short of target

HCM CITY — Real estate agent Century 21 (C21), which began trading on the HCM City Stock Exchange yesterday at a price of VND35,000 (US$1.70) per share, announced earnings of VND82 billion ($4 million) in the first six months of this year and posted a net profit of VND36 billion ($1.7 million) for the period, equal to 41.4 per cent of the target for the entire year. The company expects to pay a 16-per-cent dividend on 2011 profits. — VNS

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