Vietnam 

PAN Group offers to buy over 7.7 million Bibica shares – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Workers produces cakes and other sweetmeats at Bibica Corporation. — VNA/VNS Photo An Hiếu HÀ NỘI — Vietnamese agriculture and food company PAN Group Joint Stock Company (PAN) has just offered to buy more than 7.7 million shares of Bibica Corporation, one of the leading confectionery businesses in Việt Nam. The shares are equivalent to 49.93 per cent of Bibica’s outstanding voting shares. The expected bid price is VNĐ68,500 per share. If the deal is secured at this price, PAN Group is expected to spend about VNĐ527 billion (US$22.6…

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Vietnam 

Rubber Group to pay dividend in cash – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  GVR changed itself into a joint stock company from June 2018. — VNS Photo   HÀ NỘI — The Việt Nam Rubber Industry Group JSC (GVR) has approved a plan to pay cash dividend for 2018 at the rate of 2.5 per cent, meaning an investor owning one share will receive VNĐ250. With four billion shares in circulation, the group expects to spend VNĐ1 trillion (US$43 million) on the payout, with the payment expected on August 26. GVR changed itself into a joint stock company in June 2018. In the…

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Vietnam 

Vietnam Airlines Group makes $2.24 billion in revenue – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Vietnam Airlines’ Boeing 787-9 Dreamliner. Vietnam Airlines says its consolidated pre-tax profit was estimated at VNĐ1.65 trillion in the first half of this year, up 30 per cent compared to the plan. — Photo Vietnam Airlines HÀ NỘI — Vietnam Airlines Group, listed with code HVN, earned nearly VNĐ52 trillion (US$2.24 billion) in consolidated revenue in the first half of this year, marking a year-on-year increase of 5.5 per cent. The information was released on Tuesday showing that its consolidated pre-tax profit was estimated at VNĐ1.65 trillion, up 30 per cent compared…

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Home 

Citic Group, Wuxi company and Henry Tang’s family in talks to buy Hong Kong Airlines, putting an end to boardroom tussle

A consortium of mainland Chinese and Hong Kong investors is bidding to buy Hong Kong Airlines, offering an end to the messy boardroom tussle at the city’s third-largest carrier and a financial lifeline to the debt workout by one of China’s biggest asset buyers.The investors comprise the family of Hong Kong’s former Chief Secretary Henry Tang Ying-yen, include a unit of Citic Group, and Wuxi Communications Industry Group, the Chinese owner of the Dornier Seawings amphibious aircraft maker,… Source link

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Vietnam 

Tech group CMC partners with Samsung’s IT arm to strengthen business – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A CMC data centre. The Vietnamese technology group has decided to sell 25 million shares to Samsung SDS, the IT arm of global phonemaker Samsung, to raise VNĐ750 billion (US$32.25 million) and strengthen its business operation. — Photo courtesy of CMC HÀ NỘI — Technology group CMC will sell 25 million shares to an arm of Samsung SDS, a subsidiary of the South Korean tech giant Samsung Group. CMC hopes the shares will be sold for least VNĐ30,000 (US$1.29) per share, the company would raise VNĐ750 billion ($32.25 million) from the…

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Singapore 

MHA arrests at least six supporters of Myanmar insurgent group in Singapore, Singapore News

SINGAPORE – The Ministry of Home Affairs (MHA) has arrested a group of Myanmar nationals for using Singapore to mobilise support for armed violence against their government. Their actions in support of the Arakan Army (AA), an armed group that has conducted violent attacks in Myanmar, are “inimical to Singapore’s security”, MHA said in a statement on Wednesday (July 10). It added that those found involved in activities of security concern will be deported. The ministry’s statement came following reports in the Myanmar media that six leaders of the Arakan…

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China 

Ex-Tomorrow Group aide released as China speeds up downsizing of Xiao Jianhua’s empire, sources say

China’s plan to split up the business empire controlled by billionaire Xiao Jianhua appears to have gathered pace, with a former Tomorrow Group board secretary was set free in June without trial after being under investigation for the last three years, three separate sources told the South China Morning Post.Wen Yingjie, a top aide to Chinese tycoon Xiao, was set free after charges of embezzlement were dropped, according to the three sources, who all spoke on condition of anonymity due to the… Source link

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Home 

Anbang asset disposal gets underway as domestic insurance unit is sold to group of five buyers

Anbang Group has sold its entire stake in Hexie Health Insurance, reflecting the first asset disposal since the state seizure of the conglomerate that was once among China’s most aggressive leveraged buyers of overseas assets.Five buyers including Fujia Group, a privately held company with holdings ranging from petrochemicals to finance, bought the health-insurance unit, according to a statement posted on the website of the Insurance Association of China on Thursday. The stake transfer was… Source link

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China 

US retail group says extra tariffs on Chinese goods will cost Americans US$18 billion a year

US trade group the National Retail Federation has called on Washington not to impose additional 25 per cent tariffs on US$300 billion of Chinese goods, saying they would cost American consumers US$18 billion a year.That’s according to the results of the federation’s study released on Friday, ahead of next week’s meeting between US President Donald Trump and his Chinese counterpart Xi Jinping at the Group of 20 summit in Japan.The study looked at key product categories for Chinese imports,… Source link

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An Phát Group accelerates investment in the US – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Đinh Xuân Cường, general director of An Phát Holdings Group (second from left), at the Select USA 2019 expo. — VNS Photo  HÀ NỘI — An Phát Holdings Group is accelerating its construction of an environmentally-friendly packaging factory with 300 production lines in the US. The information was released by the group’s general director Đinh Xuân Cường at the Select USA 2019 expo held in the US last week. This annual event was organised by the US Department of Commerce, attracting the participation of more than 3,000 investors worldwide. Cường said the…

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