Vietjet’s pre-tax profit rises by 45%

On the Ho Chi Minh Stock Exchange, the VN-Index increased 0.42 percent to close at 786.61 points, topping the former nine-year high of 782.65 points of July 6. Energy stocks drove the market up with the two biggest listed oil companies, PV Gas (GAS) and PetroVietnam Drilling and Wells Service (PVD), advancing 2.6 percent and 6.8 percent, respectively. PVD was among the most active stocks on the southern bourse with more than 8 million shares being traded, despite its negative earnings in the second quarter. The company reported a loss of around 45 billion VND (16.7 million USD) in the second quarter, adding up to a total loss of 246 billion VND in the first half of this year. The firm attributed the poor result to a 34-40 percent decline in the lease of drilling platforms over the past three months. Global oil prices extended gains on July 31, ending the strongest month of the year, boosted by expectations of US sanctions against Venezuela’s oil sector and waning concerns over the supply in major oil markets. Brent crude edged up 0.3 percent to settle at 52.65 USD while  the US light crude oil rose nearly 1 percent to trade at 50.17 USD a barrel. Expansion of other blue chips such as brewery Sabeco (SAB) with a rise of 3.4 percent, Vietcombank (VCB) up 1.7 percent and Petrolimex (PLX) up 0.32 percent largely contributed to the market uptrend. These shares are among the top…... [read more]

Giving up a job as a technical official for a television company in HCM City, Tran Tue Man decided to provide a delivery service.  Man is optimistic about the new business after six months of operation. The business he set up has been recruiting new workers as the business is scaling up. “The fast delivery service market has become very competitive, but it is still a ‘blue ocean’ with great potential,” the founder of ‘Giao hang gia re’ (low-cost delivery) said. “Many online shops have arisen,” he explained, adding that the number of orders his business receives has increased by 30-50% a month. However, he said 30-50% is still a modest growth rate. “If my sale and marketing team expands, a 100-300% growth rate will be within reach,” he said. Man said his company plans to launch an app of its own in September. To compete with other delivery services, his company also is providing package services, such as marketing for online shops.  Man’s startup project is one of several delivery service firms which have been booming in the last three years.  Not only startups but big companies in some business fields have also decided to expand their business by joining the market.  As a result, the fast delivery service market, which only had 5-6 players in 2013, now has more than 50 businesses. GrabExpress of Grab taxi transport also provides goods delivery service at a very competitive fee…... [read more]

Middlemen and real estate brokers are making false offers for houses and lands around Long Thanh Airport project, Dong Nai Province, to trick buyers. Advertising boards can be seen along the Highway 51 that runs through Loc An and Binh Son communes. On Road 769, there are even "real estate cafes" where brokers gather to promote their products and consult buyers. An advertising board claims that they have land that is only 1km away from the airport project but adjacent to the Long Thanh District People's Committee's headquarters which are dozens of kilometres away from the airport. When being questioned, a seller said the land was 5km away from the airport and next to Phuoc Thai Commune People's Committee. Cat, a broker, said, "This is a good time to buy because the prices are still cheap. You can re-sell the house and land at much higher prices when the market heats up." He went on to promote a land next to the supposed airport's entrance, saying that their lands are in the 21,000 hectare area planned for the airport. He also said half of their land lots had been sold at VND500m for 100 square metres but now buyers have to go around a cemetery to reach a deserted area.    In Long Thanh District, many brokers open offices and use a fake Long Thanh Airport plan and Long Thanh District urban plans, to trick buyers. Truong Van Phuong, head of Long Thanh Department of Natural Resources and Environment said…... [read more]

The Fourth Industrial Revolution will create great challenges but also opportunities for Viet Nam to take off, a seminar heard in HCM City on Sunday. A worker checking electrolyte parameters at a plant of Viet Tri Chemical Joint Stock Company in the northern province of Phu Tho.  Speaking at the seminar titled “Effects of the Fourth Industrial Revolution on Socio-Economic Development,” Tong Viet Trung, deputy general director of Viettel Group, said: “[It] will usher in smart production where there will be no need for workers to control machines. There will be very high technology integration and value chains with very high connectivity and great flexibility to cope with rapid changes in demand.” "At the core of the Fourth Industrial Revolution is integration of new technologies based on the internet, all environment-friendly, energy-saving, and less or not polluting," he said. "The revolution is just beginning and it will have some initial effects," he said. Emerging economies would renovate extensively and encourage renovation and creativity to catch up with developed nations, he explained. “The development model based on natural resources and low-cost workers will change to one based on technology renovation and creativity.” For instance, the cost of a robot had halved since 1999, he said. A US$20,000 robot could assemble 30,000 Iphones a year, meaning assembling a phone would only cost 66 cents, a very low cost that no worker could match, he said. Traditionally, production lines were located in China and other developing countries with low-cost labour, but now, with…... [read more]

Shares continued to climb on August 1 on the two stock exchanges, backed by strong gains of oil stocks after global oil prices recorded the strongest month of the year. Investors at ACB Securities Company in Hanoi On the Ho Chi Minh Stock Exchange, the VN-Index increased 0.42 percent to close at 786.61 points, topping the former nine-year high of 782.65 points of July 6. Energy stocks drove the market up with the two biggest listed oil companies, PV Gas (GAS) and PetroVietnam Drilling and Wells Service (PVD), advancing 2.6 percent and 6.8 percent, respectively. PVD was among the most active stocks on the southern bourse with more than 8 million shares being traded, despite its negative earnings in the second quarter. The company reported a loss of around 45 billion VND (16.7 million USD) in the second quarter, adding up to a total loss of 246 billion VND in the first half of this year. The firm attributed the poor result to a 34-40 percent decline in the lease of drilling platforms over the past three months. Global oil prices extended gains on July 31, ending the strongest month of the year, boosted by expectations of US sanctions against Venezuela’s oil sector and waning concerns over the supply in major oil markets. Brent crude edged up 0.3 percent to settle at 52.65 USD while  the US light crude oil rose nearly 1 percent to trade at 50.17 USD a barrel. Expansion of other blue chips such as brewery Sabeco…... [read more]

Two tech startups from Vietnam and Australia have agreed to establish a network of laboratories for neuroscience studies, named Neuro Lab, in Vietnam. Vietnam's DTT Technology Group and Australia-based EMOTIV agreed to establish a network of laboratories for neuroscience studies, named Neuro Lab, in Vietnam.  Vietnam’s DTT Technology Group and Australia-based bioinformatics company EMOTIV signed a memorandum of understanding at Hoa Lac Hi-tech Park in Hanoi on August 1 to set up the laboratories, aiming to foster electroencephalography (EEG) research and apply the technology in different areas, including healthcare, education, marketing and brain-computer interfaces. In his remarks at the signing ceremony, DTT Director General Nguyen The Trung hoped Neuro Lab will provide an opportunity for Vietnamese students to participate in brain-related STEM (Science – Technology – Engineering – Mathematics) courses. It is also the beginning of long-term cooperation in neuroscience studies between the two companies, he said. Trung lauded Vietnamese-Australian EMOTIV CEO Le Tan for her efforts to enhance Vietnam’s technological capacity.  An example of such efforts is EMOTIV Insight, a wireless EEG headset able to record brainwaves and translate them into meaningful data, which was designed in the US, developed at an EMOTIV lab in Australia and partly produced in Vietnam, he added. At the beginning, Neuro Labs will be located at Hoa Lac Hi-tech Park’s IoT Lab and STEM Academy at Dolphin Plaza in Hanoi. The two firms plan to expand the lab network across high schools and universities nationwide. VNA... [read more]

Deputy Prime Minister and Foreign Minister Pham Binh Minh (Photo: VNA) Hanoi (VNA) – Over the past 50 years, the Association of Southeast Asian Nations (ASEAN) has clinched an important position that few sub-regions can, one of the greatest successes of the association, Deputy Prime Minister and Foreign Minister Pham Binh Minh has told the media. Along with mechanisms fostering intra-bloc solidarity, the association has run mechanisms for major world powers to engage in the region, including in politics, security and defence, he said, stressing that this is unique to ASEAN and shows the value of the association in the region and the world. Through 50 years of formation and development, ASEAN has gained many achievements. It has united regional nations with differences in culture and political administration, creating an environment of peace, stability and friendship in the ASEAN Community, said Minh. He highlighted that from a group with poor and backward countries, ASEAN has become the most dynamic economic community in Asia-Pacific, creating a 630 million-strong market with total GDP of 3 trillion USD and 4.7 percent growth per year, the highest pace in the world. ASEAN has been attractive to economic partners thanks to free trade agreements, expanding its market to 3 billion people with total GDP of 20 trillion USD, he noted, saying this is an economic relationship that no other sub-region can boast. However, he also pointed out that ASEAN has faced numerous challenges, including unequal growth among member…... [read more]

A report of the General Department of Customs (GDC) shows that the ROK has unexpectedly outstripped the US, the EU and ASEAN to become Vietnam’s second largest trade partner with turnover of US$29.12 billion. China remains the biggest market which Vietnam imports products from, with US$27 billion of import turnover in the first half of the year. The import turnover from the ROK in the first half of the year increased by 51.2%, reaching US$22.5 billion, while the trade deficit with the ROK soared to US$15.99 billion, higher than the US$13.72 billion trade deficit with China. Nguyen Duc Thanh, an economist, called it “unprecedented” in the country's trade history. State management agencies have also realized the sharp increase in imports and the trade deficit. The Ministry of Planning and Investment (MPI) said with the 50% growth rate in the import turnover, the ROK has become the second largest goods supplier for Vietnam, after China.  However, the imports from the ROK are mostly machines and equipment which serve the ROK-invested factories in Vietnam that make products for export. The Ministry of Industry and Trade (MOIT) also pointed out that imports from the ROK are mostly machines, equipment and input materials for Samsung’s factories in Vietnam. The US$22.5 billion worth of products imported from the ROK in the first six months of the year included US$15 billion worth of machines, equipment, computers, electronics and phones and accessories. The products are closely…... [read more]

Speaking at the seminar titled “Effects of the Fourth Industrial Revolution on Socio-Economic Development,” Tong Viet Trung, deputy general director of Viettel Group, said: “[It] will usher in smart production where there will be no need for workers to control machines. There will be very high technology integration and value chains with very high connectivity and great flexibility to cope with rapid changes in demand.” "At the core of the Fourth Industrial Revolution is integration of new technologies based on the internet, all environment-friendly, energy-saving, and less or not polluting," he said. "The revolution is just beginning and it will have some initial effects," he said. Emerging economies would renovate extensively and encourage renovation and creativity to catch up with developed nations, he explained. “The development model based on natural resources and low-cost workers will change to one based on technology renovation and creativity.” For instance, the cost of a robot had halved since 1999, he said. A US$20,000 robot could assemble 30,000 Iphones a year, meaning assembling a phone would only cost 66 cents, a very low cost that no worker could match, he said. Traditionally, production lines were located in China and other developing countries with low-cost labour, but now, with smart robot and 3D printing, they would move back to developed nations to be close to customers and quickly meet changing demands, he said. “It means the Revolution might change the mindset of investment and production…... [read more]

A view at the Samsung factory in Thai Nguyen where cellphones are manufactured. (Photo: VNA) Hanoi (VNA) - Local electronic firms have been urged to enhance compliance with established regulations, especially international labour standards, in order to improve competitiveness and to engage in the global supply chain, heard a conference on August 1. The conference was jointly held by the Vietnam Chamber of Commerce and Industry (VCCI) and the International Labour Organisation to promote law compliance across the electronics sector supply chain. The VCCI said that multinational groups and electronics suppliers must co-operate and exchange experiences to promote application of international labour standards at local firms. The VCCI promised to develop support programmes with aims to improve productivity, reduce risks which might arise from labour disputes and enhance businesses’ reputations. Specially, Vietnam must create policies that promote the development of the electronics industry into a spearhead sector of the economy. Electronics were major export products of Vietnam which earned revenue of 18.96 billion USD in 2016, representing a rise of 21.5 percent over the previous year. Latest updates from the General Statistics Office show that exports of electronic products reached 13.6 billion USD in the first seven months of this year, rising by 43.3 percent over the same period last year. Major import markets include the US, EU and China. Experts, however, say that the Vietnamese electronics industry is largely dependent on foreign-invested firms, while the cooperation between local and foreign…... [read more]




Links Topics : http://news.c10mt.com/2017/08/vietjets-pre-tax-profit-rises-by-45.html