Vietnamese derivatives market to launch with VN30 futures

SCIC to sell more Vinamilk sharesHung Le HCMC – The State Capital Investment Corporation (SCIC) has announced to sell 3.33% of its shares at Vietnam Dairy Products Company (Vinamilk) in October, with an estimated VND6.5 trillion to VND7 trillion to be raised from the sale. Speaking to local media, SCIC chairman Nguyen Duc Chi said the 3.33% stake totaling over 48.3 million shares were left unsold in SCIC’s 2016 offering. The State-owned investment firm last year offered 9% of its shares at Vinamilk but investors acquired a combined 5.4%. SCIC cited good developments on the stock market as a reason for the October share sale. However, the firm plans to sell the shares sooner as the market is presenting favorable conditions. There are many unexpected factors but it is now favorable. If the sale is delayed, SCIC may fail to divest from Vinamilk within this year, Chi said. Eligible investors in the country and aboard can register to buy. SCIC will announce starting price, ticket size, and minimum and maximum selling volume to give investors sufficient time to prepare. SCIC has proposed administering agencies support investors with bank guarantees, cash deposit exemptions and investor capability assessment. Besides, it will coordinate with Vinamilk’s leaders to prepare and conduct transactions, report to the Ministry of Finance and the State Securities Commission, and handle procedures to attract potential investors. SCIC will also find a consultant. After the 3.33% stake sale, SCIC will remain a major shareholder at Vinamilk with a 36% stake. At…... [read more]

With a semi-annual profit growth of 21 per cent, Petrolimex Insurance Corporation confidently welcomes foreign shareholders. The PJICO-SFMI co-operation helps raise the two firms’ financial capacities According to the latest news from Petrolimex Insurance Corporation (PJICO – PGI), in the first six months of 2017, the insurer recorded positive financial results, confirming PJICO’s solid standing. Total insurance premiums hit VND1.21 trillion ($55 million), up 8 per cent year-on-year. Pre-tax profits reached VND97.2 billion ($4.4 million), increasing by 21 per cent when compared to the same period last year. This profit growth reflects PJICO’s strategy of focusing on quality, safety, and efficiency. As of June 30, PJICO’s earnings per share (EPS) reached VND 1,120 (5 cents), while its return on equity (ROE) ratio sat at 9 per cent, which is the highest among non-life insurance companies in the market. PJICO’s net technical reserves increased to nearly VND1.9 trillion ($86.4 million), a figure that is 2.56 times its chartered capital. Last weekend, the private deal between PJICO and Samsung Fire and Marine Insurance Co., Ltd. (SFMI) won the title of “Archetypical Investment and Distribution Deal” from the 2017 M&A Vietnam Forum. In this deal, SFMI used roughly VND530 billion ($24 million) to purchase 17.74 million shares, equivalent to 20 per cent of PJICO’s chartered capital, a move which was approved by the State Securities Commission. Since the domestic financial-insurance market still struggles to…... [read more]

New payment mode for G-bonds launched (Illustrative image. Source: VNA) Hanoi (VNA) - The new payment mode for transactions of Government bonds through the State Bank of Vietnam (SBV) instead of through a commercial bank was launched in Hanoi on August 1. According to Duong Van Thanh, General Director of the Vietnam Securities Depository Centre (VSDC), payment via the commercial bank mode, as done previously, is only suitable for a small- or medium-sized G-bond market. It is not preferable now when the market develops to a new high level with fast rising transaction value. In the first half of this year alone, the listing value of the G-bond market reached 979 trillion VND (42.93 billion USD), equal to 18 percent of Vietnam’s GDP. Average transaction value in a session in H1 was 7.7 trillion VND, 21 times higher than in 2009, while the payment value in the market also rose 586 percent against 2010 to 1.2 quadrillion VND. With the rising value in the G-bond market, payment for transactions of G-bonds should be made through the central bank to ensure safety and ease in the payment of G-bond transactions, Thanh said. According to the Ministry of Finance, this is a breakthrough in the modernisation of the bond trading system in accordance with international practices. It also helps accelerate the process of international integration of the market, creating a prerequisite for the development of cross-border bond payment services. Under the new payment model, payment for…... [read more]

The launching ceremony of the new payment mode for trading of Government bonds through the State Bank of Viet Nam on Tuesday. — Photo tinnhanhchungkhoan.vn The new payment mode for transactions of Government bonds through the State Bank of Viet Nam (SBV) instead of through a commercial bank was launched in Ha Noi on Tuesday. According to Duong Van Thanh, general director of the Vietnam Securities Depository Centre (VSDC), payment via the commercial bank mode, as done previously, is only suitable for a small- or medium-sized G-bond market. It is not preferable now when the market develops to a new high level with fast rising transaction value. In the first half of this year alone, the listing value of the G-bond market reached VND979 trillion (US$42.93 billion), equal to 18 per cent of Viet Nam’s GDP. Average transaction value in a session in H1 was VND7.7 trillion, 21 times higher than in 2009, while the payment value in the market also rose 586 per cent against 2010 to VND1.2 quadrillion. With the rising value in the G-bond market, payment for transactions of G-bonds should be made through the central bank to ensure safety and ease in the payment of G-bond transactions, Thanh said. According to the Ministry of Finance, this is a breakthrough in the modernisation of the bond trading system in accordance with international practices. It also helps accelerate the process of international integration of the market, creating a prerequisite for…... [read more]

The new payment mode for transactions of Government bonds through the State Bank of Viet Nam (SBV) instead of through a commercial bank was launched in Ha Noi on Tuesday. The launching ceremony of the new payment mode for trading of Government bonds through the State Bank of Viet Nam on Tuesday. According to Duong Van Thanh, general director of the Vietnam Securities Depository Centre (VSDC), payment via the commercial bank mode, as done previously, is only suitable for a small- or medium-sized G-bond market. It is not preferable now when the market develops to a new high level with fast rising transaction value. In the first half of this year alone, the listing value of the G-bond market reached VND979 trillion (US$42.93 billion), equal to 18 per cent of Viet Nam’s GDP. Average transaction value in a session in H1 was VND7.7 trillion, 21 times higher than in 2009, while the payment value in the market also rose 586 per cent against 2010 to VND1.2 quadrillion. With the rising value in the G-bond market, payment for transactions of G-bonds should be made through the central bank to ensure safety and ease in the payment of G-bond transactions, Thanh said. According to the Ministry of Finance, this is a breakthrough in the modernisation of the bond trading system in accordance with international practices. It also helps accelerate the process of international integration of the…... [read more]

Ten commercial banks will have to sprint to be able to meet the Government’s listing deadline on the Unlisted Public Company Market (UPCoM) by the end of this year. OCB is among ten banks that will have to sprint to be able to meet the Government’s listing deadline on UPCoM by the end of this year.  According to the Government’s regulations, all 730 equitised companies yet to be listed on the UPCoM will have to list on the bourse by the end of this year. Ten banks - OCB, ABBank, Techcombank and NamABank, as well as MaritimeBank, VietABank, TPBank and Seabank, along with HDBank and LienVietPostBank, are among the firms named. The 10 banks repeatedly made plans to list on the stock market in the past year, however, they were forced to postpone due to the unfavourable market conditions. Till date, only VIB and Kienlongbank (KLB) have listed on UPCoM this year. VIB listed more than 564 million shares on the UPCoM on January 9 and plans to list on the HCM Stock Exchange next year. The VIB share is being traded at some VND22,300, increasing from VND17,000 on the first trading day. Meanwhile, 300 million KLB shares were listed on the UPCom on June 29 at VND10,000 per unit. The share is currently being traded at some VND10,300. Previously, during the 2017 annual general meeting (AGM) season in April, shareholders of banks such as Techcombank, ABBank, OCB and LienVietPostBank approved the listing of banks’ shares on the UPCoM. LienVietPostBank…... [read more]

Prime Minister Nguyen Xuan Phuc meets with the newly established economic consulting team of 15 prominent experts. — VNA/VNS Photo Prime Minister Nguyen Xuan Phuc on Saturday decided to establish his own economic consulting team of 15 prominent experts. The head of the team is Dr Vu Viet Ngoan who just left the position of Chairman of the National Financial Supervisory Commission. Five members of the team are economic professors from foreign universities: Prof Tran Van Tho from Japan’s Waseda University, Dr Tran Ngoc Anh from the United States’ Indiana University and Prof Vu Minh Khuong from the National University of Singapore. The other two are Prof Nguyen Duc Khuong from France’s IPAG Business School and Dr Vu Thanh Tu Anh, Director of Research at the Fullbright Economics Teaching Programme in Viet Nam. The team also includes Truong Van Phuoc who is the new Chairman of the National Financial Supervisory Commission, former Planning and Investment minister Bui Quang Vinh, and Dr Vu Bang, former chairman of the State Securities Commission. The other team members are Dr Tran Du Lich, former head of the HCM City Institute of Economic Research, Prof Tran Tho Dat, rector of the National Economics University together with Dr Tran Dinh Thien, Head of the Viet Nam Institute of Economics, and Dr Nguyen Dinh Cung, President of the Central Institute for Economic Management. Also joining the team are Prof Nguyen Xuan Thang, Director of the Ho Chi Minh…... [read more]

OCB is among ten banks that will have to sprint to be able to meet the Government’s listing deadline on UPCoM by the end of this year. — Photo cafef.vn Ten commercial banks will have to sprint to be able to meet the Government’s listing deadline on the Unlisted Public Company Market (UPCoM) by the end of this year. According to the Government’s regulations, all 730 equitised companies yet to be listed on the UPCoM will have to list on the bourse by the end of this year. Ten banks - OCB, ABBank, Techcombank and NamABank, as well as MaritimeBank, VietABank, TPBank and Seabank, along with HDBank and LienVietPostBank, are among the firms named. The 10 banks repeatedly made plans to list on the stock market in the past year, however, they were forced to postpone due to the unfavourable market conditions. Till date, only VIB and Kienlongbank (KLB) have listed on UPCoM this year. VIB listed more than 564 million shares on the UPCoM on January 9 and plans to list on the HCM Stock Exchange next year. The VIB share is being traded at some VND22,300, increasing from VND17,000 on the first trading day. Meanwhile, 300 million KLB shares were listed on the UPCom on June 29 at VND10,000 per unit. The share is currently being traded at some VND10,300. Previously, during the 2017 annual general meeting (AGM) season in April, shareholders of banks such as Techcombank, ABBank, OCB and…... [read more]

A new decree will help improve the quality of corporate governance in public companies and benefit small, individual investors, a senior official said yesterday.— Photo ssc.gov.vn A new decree will help improve the quality of corporate governance in public companies and benefit small, individual investors, a senior official said yesterday. Corporate governance has become an urgent issue for public companies as it affects a firm’s sustainability when its size and scale develops at a fast speed, Pham Hong Son, vice chairman of the State Securities Commission (SSC), said at a conference. According to the SSC, Viet Nam’s stock market has developed strongly since the beginning of the year. The benchmark VN Index on the HCM Stock Exchange jumped nearly 17 per cent during this period to close on Friday at 777.09 points and the HNX Index on the Ha Noi Stock Exchange has gained 25.5 per cent to end at 100.55 points. Market capitalisation has increased by 30.5 per cent. Son said that listed companies on both local exchanges have improved the quality of corporate governance and are aware of its essential importance. “The better corporate governance is, the more benefits small individual investors will get,” Son said. “The Government’s Decree 71/2017/ND-CP (Decree 71) enumerating the principles of corporate governance for public companies will help them manage their businesses better.” Decree 71, an upgrade of Circular 121/2012/TT_BTC (Circular 121) issued by the Finance Ministry on July 26, 2012, will take effect on…... [read more]

A new decree will help improve the quality of corporate governance in public companies and benefit small, individual investors, a senior official said yesterday. A new decree will help improve the quality of corporate governance in public companies and benefit small, individual investors, a senior official said yesterday.- Photo ssc.gov.vn Corporate governance has become an urgent issue for public companies as it affects a firm’s sustainability when its size and scale develops at a fast speed, Pham Hong Son, vice chairman of the State Securities Commission (SSC), said at a conference. According to the SSC, Viet Nam’s stock market has developed strongly since the beginning of the year. The benchmark VN Index on the HCM Stock Exchange jumped nearly 17 per cent during this period to close on Friday at 777.09 points and the HNX Index on the Ha Noi Stock Exchange has gained 25.5 per cent to end at 100.55 points. Market capitalisation has increased by 30.5 per cent. Son said that listed companies on both local exchanges have improved the quality of corporate governance and are aware of its essential importance. “The better corporate governance is, the more benefits small individual investors will get,” Son said. “The Government’s Decree 71/2017/ND-CP (Decree 71) enumerating the principles of corporate governance for public companies will help them manage their businesses better.” Decree 71, an upgrade of Circular 121/2012/TT_BTC (Circular 121) issued by the Finance…... [read more]




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