PetroVietnam set to lose $220mn on loss-making shipbuilder

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Báo Tuổi Trẻ English 1 month(s) ago

An investment of nearly US$225 million by state-run PetroVietnam, made to revitalize a struggling shipbuilder, is likely to become money down the drain as the loss-making firm is on the verge of bankruptcy.

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Vietnam struggles to deal with loss-making megaprojects

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Báo Dân Trí English 2 month(s) ago

Ngo Tri Long, former head of the Institute for Market and Price Research under the Ministry of Finance blamed both Chinese contractors and Vietnamese investors for 12 failing major projects.

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SBV to stop acquiring weak banks at zero Dong

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Báo Dân Trí English 2 month(s) ago 1 related news

The State Bank of Vietnam (SBV) will stop the acquisition of poor-performing commercial banks at zero Dong as it did previously.

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SBV to stop acquiring weak banks at zero đồng

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Báo Đầu Tư English 2 month(s) ago 1 related news

The State Bank of Việt Nam (SBV) will stop the acquisition of poor-performing commercial banks at zero đồng as it did previously.

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VND0 takeover or bankruptcy?

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Báo Đầu Tư English 2 month(s) ago

The method of acquiring weak banks at VND0 is officially adopted on the draft law on supporting the restructuring of credit institutions and non-performing loan (NPL) settlement, composed by the State Bank of Vietnam (SBV). However, buying at the price of VND0 or boldly letting poorly performing commercial banks go bankrupt remains a dilemma.

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Vietnam gov’t to stop paying debts of state-owned companies

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Báo Tuổi Trẻ English 3 month(s) ago

Vietnam’s government will no longer shoulder the debt burden of state-owned enterprises, Minister of Finance Dinh Tien Dung told lawmakers as the country revises its law on public debts.

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Ha Tinh targets Vung Ang Economic Zone investment

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Báo Dân Trí English 3 month(s) ago

Local authorities in the central province of Ha Tinh believes that a new investment wave in Vung Ang Economic Zone can save many firms from bankruptcy.

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Embezzlers at State-owned Vinashinlines come to trial

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Báo Đầu Tư English 4 month(s) ago

The Hanoi People’s Court opened a first instance trial on February 16 on the asset embezzlement at the State-owned Vinashin Ocean Shipping Co. Ltd (Vinashinlines), which is awaiting bankruptcy.

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Ministry of Industry and Trade facing 12 loss-making projects

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Báo Dân Trí English 4 month(s) ago

The Ministry of Industry and Trade has recently submitted a list of seven additional loss-making projects to the government, raising the ministry’s total number of failing projects to 12.

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Dung Quat Shipbuilding Co., Ltd on verge of bankruptcy

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Báo Dân Trí English 6 month(s) ago

The Ministry of Industry and Trade (MoIT) has reported that the Dung Quat Shipbuilding Co., Ltd. faces high risk of bankruptcy due to big losses.

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Ministry may pull the plug on Dung Quat Shipbuilding Industry Co., Ltd

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Báo Đầu Tư English 7 month(s) ago

As reported by newswire vneconomy.vn, bankruptcy is one of the options for Dung Quat Shipbuilding Co., Ltd., Vietnam National Oil and Gas Group (PetroVietnam)’s shipbuilding subsidiary.

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Bankrupt firms continue to rise

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Báo Dân Trí English 7 month(s) ago

Up to 10,400 Vietnamese enterprises have gone bankrupt between January and November this year, up 23.3% on-year, according to the General Statistics Office.

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Bankrupt shipping firm leaves containers in Vietnam

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Báo Dân Trí English 8 month(s) ago

Bankrupt South Korean shipping giant Hanjin has left up to 4,122 containers at HCM City ports, said the Vietnam Maritime Administration (Vinamarine).

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Government will not save ‘zombie’ banks

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Báo Đầu Tư English 8 month(s) ago

The Government will consider the possibility of letting poor performing commercial banks go bankrupt, instead of saving them as it did in the past, Deputy Prime Minister Vương Đình Huệ has said.

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Gov’t may sell inefficent State enterprises

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Báo Đầu Tư English 8 month(s) ago

State-owned enterprises (SOEs) which record prolonged losses and lose equity capital may be put up for sale or declared bankruptcy according to law.

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