Vietnam 

Banks struggle to lure long-term capital – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI – Banks have to mobilise long-term capital at high costs by issuing certificates of deposit (CD) in Vietnamese đồng with high interest rates to lure depositors, causing concerns about a domino effect on lending rates. At Southeast Asia Bank (SeABank), when customers apply for a 24-month CD valued at a minimum of VNĐ100 million (US$4,290), they can enjoy a fixed interest rate of 8.4 per cent per year, while a 36-month CD can bring them a fixed interest rate of 8.6 per cent. State-owned Bank…

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Shenzhen Transsion applies to raise capital on Shanghai’s technology board after taking Africa’s phone market by storm

Shenzhen Transsion Holdings, which makes three of every 10 smartphones sold in Africa, has thrown its hat into the ring to raise capital on Shanghai’s tech board via an initial public offering (IPO), becoming one of the first among China’s home-grown technology champions to kick off President Xi Jinping’s fundraising project.The company completed a three-month counselling period from December 2018 until March, during which an investment bank provided guidance and advice on the IPO applicant’s… Source link

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Stocks rise in Hong Kong, China as Shanghai tech board’s kick-off signals further liberalisation in the Chinese capital market

Equities rose in Hong Kong and China on Monday, as investors await a bidding process that opens the doors for technology start-ups to raise capital in Shanghai, heralding another landmark in the liberalisation of the Chinese equities market.The Shanghai Composite Index rose by as much as 0.7 per cent to an intraday high of 3,043.28, while the benchmark in the Shenzhen exchange rose 0.8 per cent to 1,654.84.In Hong Kong, the Hang Seng Index rose 0.6 per cent to 29,182.30 while the China… Source link

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Vietnam 

ACB may sell treasury shares to raise capital: HSC – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The Asia Joint Stock Commercial Bank (ACB) plans to propose shareholders approve its plan to sell 41.4 million treasury shares to raise charter capital. — Photo ACB Viet Nam News HÀ NỘI — Asia Joint Stock Commercial Bank (ACB) plans to sell treasury shares to raise charter capital in 2019. According to the bank’s financial report 2018, there are 41.42 million treasury shares at present. HCM City Securities Corp (HSC) said in a recent note that the bank will likely sell those treasury shares to improve its…

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Vietnam 

US real estate developers target EB-5 capital from Việt Nam – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

About 20 per cent of EB-5 investment in American real estate now comes from Việt Nam, putting it behind India’s 25 per cent and China’s 30 per cent, according to the journal. — Photo cmivnedu.com Viet Nam News HÀ NỘI — US real estate developers are turning to a new, fast-growing source of cheap capital known as EB-5 from Việt Nam, reported the Wall Street Journal on Tuesday. The Southeast Asian country is rapidly gaining on China as one of the biggest participants in the foreign-investment initiative. The programme…

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China 

China scraps valuation limit to kick-start Xi Jinping’s technology board for home-grown companies to raise capital

Shanghai’s stock exchange, tasked by Chinese president Xi Jinping last November to create a technology board for the country’s most valuable start-ups to raise capital, has fine tuned its listing rules and upped the ante with Hong Kong in the race for the title of Asia’s fundraising hub.Initial public offerings ((IPOs) on the tech board will be priced through “interactions with eligible offline investors,” the exchange said late on Friday. That essentially removes the implicit valuation limit –… Source link

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China’s venture capital firms outperform US, European peers amid breakneck economic growth in the past two decades

Chinese venture capital funds have outperformed those in the US and Europe in the last 20 years, as the country’s breakneck economic growth has given impetus to the rapid expansion of the industry, according to analysts.Nevertheless, the sector is forecast to face major upheaval in 2019, with many smaller funds expected to collapse as winter sets in for the capital market amid a deepening economic downturn.Chinese VC funds delivered an overall return of 1.79 times in the period from 1997 to… Source link

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Tencent defends investment spree as core strategy amid venture ‘capital winter’ concerns

Tencent President Martin Lau Chi-ping launched a robust defence of the company’s practice of taking stakes in hundreds of companies, saying that investment is part of the Chinese internet giant’s core strategy.“Last year, there were those who equated Tencent doing investments to the company losing its aspirations, Tencent becoming like an investment bank,” Lau, a former Goldman Sachs investment banker, said at an annual gathering with its investee companies in Beijing last month.“In reality,… Source link

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Baidu bucks the capital winter to play catch-up to Alibaba, Tencent in outside investments

Baidu, operator of China’s largest search engine and a major player in artificial intelligence, more than doubled its number of outside investments last year, bucking a trend that saw a winter chill descend on the country’s venture capital market in the fourth quarter.The Nasdaq-listed company made a total of 92 investments in 2018, compared to 41 the previous year, according to a company source familiar with the matter. Baidu didn’t immediately respond to an emailed inquiry for comment.Baidu’s… Source link

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China 

China cracking down on illegal underground forex trading in bid to control capital flight

China is cracking down on individuals and corporations who buy or sell foreign currency on the black market as the government seeks to control capital flight and maintain the stability of the yuan exchange rate and its slowing economy. According to the joint judicial interpretation by the Supreme People’s Court and the Supreme People’s Procuratorate, effective from the start of February, illegal forex trading activities would be a criminal offence, with those involved charged with engaging in an illegal business operation. A cumulative transaction volume of 5 million yuan (US$737,000)…

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