VIỆT NAM’S BUSINESS PIONEERS – Vietjet

VietJet Air has gone from start-up to Vietnam's largest private airline in five years. VietJet Air has gone from start-up to Vietnam's largest private airline in five years. Now it is pushing overseas to keep up that growth and absorb a bumper order of more than 200 planes: no easy task in a cutthroat southeast Asian market. The airline, which was set up in 2011, grabbed headlines with its bikini-clad flight attendants. It tapped a rich vein - a fast-growing economy and a young population that was starting to travel more. But VietJet's next step will be more challenging, industry analysts and executives say, as it expands further beyond Vietnam into choked southeast Asia, competitive China or Russia, where VietJet's fleet of narrowbody jets would confine it to the country's east. Infrastructure in the region is clogged and new airport slots are rare. Even Kuala Lumpur, a less crowded airport, is highly competitive, thanks to airlines like Air Asia. That has raised questions about VietJet's ability to absorb one of the region's largest aircraft orders. "(VietJet) have been extremely successful in the first five years but what they have done has been entirely domestic," said Singapore-based analyst Brendan Sobie at consultancy CAPA. "The domestic market will start to slow and it is more difficult to expand internationally – some people doubt that they can continue (growing) at the current rate." According to CAPA, Vietnam’s domestic aviation market grew 30 percent in 2016 to 28 million passengers - nearly five times…... [read more]

VietJet's CEO, believed to be the country's first female billionaire, plans to push into China, Australia and Russia. VietJet Air has gone from start-up to Vietnam's largest private airline in five years. Now it is pushing overseas to keep up that growth and absorb a bumper order of more than 200 planes: no easy task in a cutthroat Southeast Asian market. The airline, which was set up in 2011, grabbed headlines with its bikini-clad flight attendants. It tapped a rich vein - a fast-growing economy and a young population that was starting to travel more. But VietJet's next step will be more challenging, industry analysts and executives say, as it expands further beyond Vietnam into choked southeast Asia, competitive China or Russia, where VietJet's fleet of narrowbody jets would confine it to the country's east. Infrastructure in the region is clogged and new airport slots are rare. Even Kuala Lumpur, a less crowded airport, is highly competitive, thanks to airlines like Air Asia. That has raised questions about VietJet's ability to absorb one of the region's largest aircraft orders. "(VietJet) have been extremely successful in the first five years but what they have done has been entirely domestic," said Singapore-based analyst Brendan Sobie at consultancy CAPA. "The domestic market will start to slow and it is more difficult to expand internationally – some people doubt that they can continue (growing) at the current rate." According to CAPA, Vietnam’s domestic aviation market grew 30 percent in 2016 to 28 million passengers…... [read more]

Vietnamese budget carrier VietJet has revived plans for an overseas listing after a domestic IPO last month that gave it a value of $1.2 billion. Vietnamese budget carrier VietJet has revived plans for an overseas listing after a domestic IPO last month that gave it a value of $1.2 billion. Vietnam's only privately owned airline may consider listing on either the Singapore, Hong Kong or Tokyo bourses, CEO Nguyen Thi Phuong Thao, the nation's first female billionaire, told Reuters in an interview on Tuesday. "VietJet hopes to become Vietnam's first company to successfully go to the international capital market," Thao, who founded the airline in 2007, said. The airline had earlier planned an overseas listing by early last year, but reports said the plan was put on ice. Thao did not cite a timeline for the listing. Singapore sovereign wealth fund GIC and a Morgan Stanley investment fund are among 26 foreign investors who have bought a combined 24 percent stake in VietJet in recent placements, Thao said. The carrier's shares will start trading in the domestic market in February. Investors have sought exposure to an airline that is expected to own the biggest share of the domestic market this year, amid strong air travel growth in the Southeast Asian nation. The firm, which is expanding its international routes, has the financial backing it needs to finance the country's biggest ever aircraft order from both Airbus and Boeing, Thao said. It announced in May last year that it had ordered…... [read more]

'VietJet's IPO and the other share sales will attract more foreign cash to Vietnam's stock market and help raise market capital.' Budget airline VietJet is set to raise about $170 million in an initial public offering (IPO) that will value it at $1.2 billion, people close to the deal said on Wednesday. VietJet Aviation JSC, founded in 2007 by Nguyen Thi Phuong Thao -- now Vietnam's first female billionaire -- will add its name to a list of coming and completed sales that includes Vietnam Airlines, brewer Sabeco and dairy Vinamilk. VietJet will sell 44.7 million shares priced just below the middle of their VND75,900 to 98,400 ($3.34 to $4.33) marketed range, four people said. The price for institutional buyers will be VND84,400 each, the people said. One of them told Reuters that the price for retail investors would be VND86,500. An overallotment option would not be exercised, the people told IFR, a Thomson Reuters publication. One of the people told Reuters that the offer was oversubscribed. BNP Paribas, Deutsche Bank, JP Morgan and VietCapital are the IPO's joint global coordinators, IFR reported. VietJet shares will be listed on the Ho Chi Minh Stock Exchange on February 23, it said. The people declined to be identified as the information had not yet been formally announced. VietJet declined to comment when contacted by Reuters. Expanding, VietJet has placed the country's biggest-ever aircraft order, for 20 Airbus Group SE A321 planes worth $2.4 billion and 100 Boeing Co 737 MAX 200 jets…... [read more]

Budget airline VietJet is set to raise about $170 million in an initial public offering (IPO) that will value Vietnam's only private airline at $1.2 billion, people close to the deal said on Wednesday, in the latest in a string of Vietnamese share sales. Budget airline VietJet is set to raise about $170 million in an initial public offering (IPO) that will value Vietnam's only private airline at $1.2 billion, people close to the deal said on Wednesday, in the latest in a string of Vietnamese share sales. VietJet Aviation JSC, founded in 2007 by Nguyen Thi Phuong Thao - now Vietnam's first female billionaire - will add its name to a list of coming and completed sales that includes Vietnam Airlines, brewer Sabeco and dairy Vinamilk. VietJet will sell 44.7 million shares priced just below the middle of their 75,900 to 98,400 dong ($3.34 to $4.33) marketed range, four people said. The price for institutional buyers will be 84,400 dong each, the people said. One of them told Reuters that the price for retail investors would be 86,500 dong. An overallotment option would not be exercised, the people told IFR, a Thomson Reuters publication. One of the people told Reuters that the offer was oversubscribed. BNP Paribas, Deutsche Bank, JP Morgan and VietCapital are the IPO's joint global coordinators, IFR reported. VietJet shares will be listed on the Ho Chi Minh Stock Exchange on Feb. 23, it said. The people declined to be identified as the information had not…... [read more]

VietJet Aviation JSC, founded in 2007 by Nguyen Thi Phuong Thao - now Vietnam's first female billionaire - will add its name to a list of coming and completed sales that includes Vietnam Airlines, brewer Sabeco and dairy Vinamilk. VietJet will sell 44.7 million shares priced just below the middle of their 75,900 to 98,400 dong ($3.34 to $4.33) marketed range, four people said. The price for institutional buyers will be 84,400 dong each, the people said. One of them told Reuters that the price for retail investors would be 86,500 dong. An overallotment option would not be exercised, the people told IFR, a Thomson Reuters publication. One of the people told Reuters that the offer was oversubscribed. BNP Paribas, Deutsche Bank, JP Morgan and VietCapital are the IPO's joint global coordinators, IFR reported. VietJet shares will be listed on the Ho Chi Minh Stock Exchange on Feb. 23, it said. The people declined to be identified as the information had not yet been formally announced. VietJet declined to comment when contacted by Reuters. Expanding, VietJet has placed the country's biggest-ever aircraft order - for 20 Airbus Group SE A321 planes worth $2.4 billion and 100 Boeing Co 737 MAX 200 jets worth US$11.3 billion at list prices. The airline commanded around 40 percent of the domestic market, and is likely to surpass flag carrier Vietnam Airlines this year as the country's biggest domestic airline, market analyst CAPA Centre for Aviation said in January. For its part, the one-time government-owned…... [read more]

Recently, UBS Group AG and PwC launched their joint deep dive report, "The changing faces of billionaires," which explores the role of women in building lasting financial legacies and how wealth is preserved across multiple generations. The report’s findings, which build upon UBS/PwC’s 2015 Billionaires Report released last May, "Master architects of great wealth and lasting legacies," revealed that the number of female billionaires is growing faster than the number of their male counterparts. Women have been controlling greater average wealth than men and becoming more influential in family businesses, philanthropic enterprises and governance. The report also highlights the fleeting nature of great wealth, finding that only 126 billionaires or 44 percent of the class of 1995 are billionaires today. It underscores the strategies these prevailing billionaires have employed to build and preserve lasting legacies. Michael Spellacy, Global Wealth Leader at PwC US:"The report suggests that we need to revisit the old saying ‘The first generation builds the business, the second makes it a success, and the third wrecks it’. Our findings reveal that it is in fact the second generation that all too often undermines the value of the business the first generation created. To prevent this, business decisions must move from the kitchen table to the board room." NT... [read more]

PANO - The renowned play, “Female billionaire visits the homeland”, which was written by Swiss writer Friedrich Dürrenmatt 50 years ago, will be staged in Vietnam for the first time. The Vietnam Culture and Information Ministry, the Goethe Institute Hanoi and Vietnam Play Theatre and the Embassy of Switzerland in Vietnam have worked together to stage the play. As planned, “Female billionaire visits the homeland” will play at the Hanoi Opera Theatre on Nov. 24-25 evenings, at Hong Ha cinema (in Hanoi) on Nov. 27 and Nov. 29 evenings, in Ho Chi Minh City on Dec. 5-8 evenings and in Hai Phong on Dec. 23. The play is translated into Vietnamese by translator Le Chu Cau. Swiss producer Rudolph Straub and Vietnamese assistant producer Do Ky direct the play. German female painter Marion Hauer is in charge of stage and costumes while German musician Pierre Oser is responsible for music. With about 100 people involved, the play is sponsored by Siemens Vietnam, Ringier Communication Group and Vietnam Airlines. Friedrich Dürrenmatt Friedrich Dürrenmatt (1921-1990) has been called one of the top writers in the German language of the 20 th century. Together with “Physicists”, the tragicomedy “Female billionaire visits the homeland” written in 1956 made Friedrich Dürrenmatt famous beyond German-speaking countries. “Female billionaire visits the homeland” was written with a blend of views and subtle psychological observations, humorous metaphors and deep sympathy with the incompatibilities and weaknesses of human-beings. This play in German has been translated into more than 40 languages.…... [read more]

Established in 1967 in Bangkok, Thailand, with 5 founding members, ASEAN has grown steadily and admitted 5 more member countries. The Association became a Community on December 31, 2015. Drawing outside attention The international community has applauded ASEAN for its effective connectivity and its central role in Asia-Pacific regional structure. The formation of the ASEAN Community has enhanced ASEAN’s strategic value and attracted partners’ attention to achieve the common goal of peace, stability, and development. 86 countries have sent their ambassadors to ASEAN, 9 of 11 partners have established diplomatic missions in ASEAN, and 50 ASEAN committees have been set up in third countries. Last year, ASEAN signed an extended document paving the way for Chile, Egypt, and Morocco to join the Treaty of Amity and Cooperation in Southeast Asia, raising the Treaty’s membership to 35. The US, a major partner, respects and supports ASEAN’s central role in shaping regional structure, and is committed to continuing assistance to ASEAN Community building. The US calls ASEAN an important economic partner, continues the ASEAN-US Connect initiative, encourages sustainable and fair economic growth, and maintains training programs for ASEAN youth and women, including the Young Southeast Asian Leaders Initiative (YSEALI) and Fulbright Scholarships. US President Donald Trump said he will attend regional events, including the Asia-Pacific Economic Cooperation Summit (APEC) in Vietnam, and the ASEAN-US and the East Asia Summit in the Philippines later this year. ASEAN mechanisms related to politics, security, and defense…... [read more]

Deputy Foreign Minister Nguyen Quoc Dung (Photo: VNA) Manila(VNA) – Deputy Foreign Minister Nguyen Quoc Dung led a Vietnamese delegation to the ASEAN Senior Officials’ Meeting (SOM) and related meetings held in Manila, the Philippines on August 3-4. At the event, senior officials of ASEAN reviewed the implementation of the master plan for the building of the ASEAN Politics-Security Community and documents such as the Treaty of Amity and Cooperation (TAC) in Southeast Asia, the Southeast Asian Nuclear Weapon Free Zone Treaty (SEANWFZ), while updating the ASEAN Charter. They agreed on the need to exert more efforts to build a community of solidarity and unity with important contributions to peace, security and prosperity in the region. The officials also agreed on the agenda and important documents to be submitted to ministerial meetings, including a joint statement of the 50thASEAN Ministerial Meeting (AMM-50), and a declaration of the 50th founding anniversary of ASEAN. At the SOM ASEAN and partners, participants prepared agenda for the ASEAN Post-Ministerial Conference with 10 partners, the East Asia Summit, and the ASEAN Plus Three Ministerial Meeting, as well as activities to mark the establishment of relations between ASEAN and India, Canada, the European Union and the US. They also completed documents to be submitted to the ASEAN Ministerial Meeting, including the working plan for the 2018-2022 period within the ASEAN-Japan, ASEAN-EU and ASEAN Plus Three cooperation frameworks. The officials concurred to propose EAS foreign ministers to turn maritime…... [read more]




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