Forgien Exchange - Currency Exchange - forex
Forgien Exchange - Currency Exchange - forex
I created this web page to provide links to some of the interesting people, places and things I have discovered.
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Tuesday, December 9, 2008
I created this web page to provide links to some of the interesting people, places and things I have discovered.
Friday, June 6, 2008
Monday, February 12, 2007
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Wednesday, January 17, 2007
Stock Photo titled - funny woman being cute looking through her glasses
Stock Exchange blog's
Stock Photo By: David Ewing
©2007 David Ewing and World of Stock. Want to use this image? Read this first
Johnson Controls opens automotive interiors plant in Binh Duong
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The US-based Johnson Controls group has recently inaugurated a plant producing automotive interiors in the Viet Nam-Singapore industrial zone in southern Binh Duong province. The US$8 million Jonhson Controls Viet Nam has a capacity of churning out 833,000 products per year and generates jobs for 530 workers. Its products are not only geared to foreign customers in Japan and Malaysia but also potential ones in Viet Nam. The corporation's board of managers highlighted Viet Nam's propitious investment environment, intensive labour force and promising market of over 80 million people as the main factors prodding them to increase investment in Viet Nam. A global leader in automotive devices and power solutions, Johnson Controls also plans to expand their business to other fields in Viet Nam, including production of power equipment like batteries and power solutions for the automobile sector in the future, said the managers. Jonhson Controls has an annual turnover amounting to more than US$32 billion. | ||
Source: Vietnam Agency |
Stock market will develop but not make rapid leaps: expert
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Mr Nghia started the interview with the press by saying that the stock market will see further increases. The P/E (price on equity) index is now 38, quite high if compared to the normal level (12-17 times higher). However, the stock market will still see further increases since Vietnam is an emerging market, while the international capital flow is moving towards Asia. A watchdog specializing in supervising the financial market will be set up in the near future, which will not directly interfere in the market, but will only support the market development. Vietnam’s stock market has not been so hot that it needs to be restrained. Do you mean that Vietnam will have a watchdog to supervise financial activities? The Government plans to set up a committee in charge of supervising the financial market operation (securities, banking and insurance). The committee will take remote supervision over the management agencies like the Ministry of Finance and the State Bank of Vietnam (SBV). SBV is also considering setting up a supervision and inspection agency, which will be the result of the reunification of the departments with the same functions. Is it true that the establishment of the financial supervision committee aims to receive the new capital flows and assist the development of the stock market? The international capital is now flowing into Asia. In Asia, China and Vietnam prove to be the two most attractive destinations. Vietnam’s stock market will develop quickly for two reasons. First, Vietnam plans to equitze 70 groups and big generations. If one third of the 70 units list on the bourse, it would be enough to make the total supplies in the market increase sharply. I think this will happen from July towards the years end. The profuse supplies will make the market less hot. Second, there will be several hundreds of foreign investors coming to Vietnam. Many famous financial consultancy groups and banks will be present on the market. Their clients are big investors, who will ask them to do research about Vietnam. There will be a big capital flow into Vietnam’s securities. The stock market will develop strongly, and it will need to be supervised in order to avoid sudden changes, that can cause shocks. You seem to be very optimistic. But why does SBV plan to control the commercial banks that make investment in securities if you believe that the stock market will develop? The Government has been aware of the need to keep the stock market in stable operation. Any troubles in the stock market will directly influence the monetary market. It is the SBV’s task to guarantee the capital raised from the public. Commercial banks have been advised to think carefully before making decisions on funding securities trading deals. For example, when the P/E is three times higher than the normal level, banks should give the loans valued at 1/3 of the securities’ market values. If banks keeps cautious with the loans mortgaged by securities, it would be safer for investors, the stock market and banks as well. Do you mean that SBV will not ask banks to tighten the funding of securities trading deals? No, not to tighten the loaning to securities traders, but to protect them, give advice in order to avoid risks. Foreign investors always are methodical when making investments, even if they just make short term investment. Meanwhile, domestic investors buy or sell securities just by feelings or follow the moves of someone else. It is very risky. Will the Government consider raising the maximum foreign ownership ratio in local banks from the current 30% limit? From April 2007, foreign bankers will have the right to set up 100% foreign owned bank entities in Vietnam. However, I think that many foreign banks will be set up in the first years after Vietnam joins the WTO as they still expect that the 30% foreign ownership ratio will be raised. You may see that the current laws allow local banks to get M&A (merge and acquisition), but aim to prevent foreign banks from swallowing domestic banks. | ||
Source: Thời báo Kinh tế Sài Gòn |
Bank revenues drive up dividends
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Following announcements of double and even triple annual earnings growth over the last few weeks, bank stocks are again in vogue as investors prepare to reap high dividends payments. Asia Commercial Bank (ACB) topped the money list, reporting VND568 billion (US$35.5 million) in 2006 pre-tax profits. ACB mobilised nearly VND39.5 trillion (US$2.5 billion) through selling shares and deposit services, and provided VND17.1 trillion (US$1.1 billion) in loans, a 77 and 79 percent year-on-year increase respectively. The bank is expected to issue a 38 percent dividend payment, 8 percent of which will be issued in cash while the remaining 30 percent will be through share options. With pre-tax profits at VND447 billion (US$27.93 million), Sai Gon Thuong Tin Commercial Bank (Sacombank) plans a 20-22 percent dividend issuance. Sacombank intends to use much of last year's earnings as legal and working capital. Meanwhile, shareholders of the Export and Import Commercial Bank (Eximbank) expect to receive a 55 percent dividend payment on the back of VND340 billion (US$21.3 million) in pre-tax profits. In addition to strong profits, banks also reported strong asset accumulation. ACB reported VND42.5 trillion (US$2.65 million) in assets, more than double from where it was at the start of 2006. Sacombank and Eximbank saw similar results with VND24 trillion (US$1.5 million) and VND17 trillion (US$1.06 million) in assets, up 58 percent and 49 percent respectively over the previous year. Industry insiders attributed the impressive results to the country's economic growth, and the development of financial products and services, like term deposit accounts and preferential credit policies. | ||
Source: Vietnam Agency |
Thursday, January 11, 2007
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Wednesday, January 10, 2007
Vietnam produces only 5% modern medical equipment
| VNECONOMY updated: 21/12/2006 | ||
Vietnam has produced 621 kinds of medical equipment so far, but only 5% of it is modern. The information was released at the medical equipment meeting recently held in Hanoi to discuss the implementation of the national strategies on medical equipment development after WTO accession. So far, the whole country has 56 medical equipment producing units with legal licences including 27 private and joint stock companies, 10 state-owned enterprises and 12 joint venture companies or companies receiving foreign investment. The 621 kinds of medical equipment produced by Vietnam are mainly instruments used in hospital interiors, surgery rooms and other advanced electronic devices. However, the percentage of modern pieces of equipment stands at only 5%. This includes physiotherapy machines, functional rehabilitation machines, electrical surgery knives. Additionally, the quality and durability of these products are much lower compared to imported ones. In the 2007-2010 periods, the Ministry of Health will implement a project titled “Research and Development of Medical Equipment in Vietnam by 2010”. This projects aims at expanding the manufacturing of common equipment to be able to meet 60% of the country’s demand for medical instruments by 2010 as well as minimise the number of imported medical machines. | ||
Source: VietnamNet |
Viet Nam lures Chinese investors
| VNECONOMY updated: 08/01/2007 | ||
Representatives of more than 430 Chinese businesses and industrial associations in Guangzhou, capital of China’s Guangdong province, took part on Jan.5, in a conference for promoting Chinese investment in Viet Nam. The conference introducing Viet Nam’s investment environment was organized by the Vietnamese Ministry of Investment and Planning in coordination with the country’s consulate general in Guangzhou. Participants at the event were updated about Viet Nam’s investment environment and its preferential policies designed to attract foreign investments. According to Viet Nam’s Consul General to Guangzhou, Vo Thinh, China is Viet Nam’s big market, with two-way trade turnover of US$10 billion in 2006. As of November 2006, China had 402 investment projects in Viet Nam, making up a combined registered capital of US$825 million. | ||
Source: Vietnam Agency |
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