Vietnam 

Maritime Bank wants to raise $43 million from private share issuance – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    A Maritime Commercial Joint Stock Bank trading office. The bank is planning to sell 100 million shares to domestic investors via a private deal to raise VNĐ1 trillion. Photo cafef.vn HÀ NỘI — The Maritime Commercial Joint Stock Bank (MSB) is proposing shareholders approve a plan to raise VNĐ1 trillion (US$43 million) from private share issuance in the second half of this year. The bank’s board of directors plans to issue 100 million shares or maximum 8.5 per cent of its charter capital for domestic shareholders. The capital…

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China 

China’s social credit system stops the sale of over 26 million plane and train tickets

China has restricted the sale of 20.47 million plane tickets and 5.71 million high-speed train tickets as punishment for failing to repay debts or conducting other “untrustful” behaviour, according to data from National Development and Reform Commission.Millions of individuals and businesses have been labelled as untrustworthy on a growing blacklist compiled by China’s courts, banning or restricting them from any number of activities, including accessing financial markets or travelling by air… Source link

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Vietnam 

1.45 million promotional Vietjet tickets up for grabs – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Part of Vietjet’s fleet. — Photo baovanhoa.vn HCM CITY — Vietjet is offering passengers 1.45 million super-saving tickets starting from zero dollars between now and Friday to celebrate its newest international route from HCM City to Bali. The discounted fares, which are available at www.vietjetair.com from noon to 2pm, are for all of Vietjet’s domestic and international routes and those of ThaiVietjet – a joint venture of Vietjet and Thai airline Kan Air. The travel window for promotional tickets is from June 16 to December 31. The new-age carrier will provide…

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Vietnam 

Minh Phú Seafood to sell 75.7 million shares for US$159 million – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Minh Phú Seafood Corporation plans to sell more than 75.7 million shares in a private deal to raise VNĐ3.7 trillion (US$159 million) to provide additional capital for production and business activities. Photo tinnhanhchungkhoan.vn HÀ NỘI — Minh Phú Seafood Corporation (HoSE: MPC) plans to issue privately 75.72 million shares to raise VNĐ3.7 trillion (US$159 million) in 2019. The company will use 45 per cent of the funds, or VNĐ1.7 trillion, to improve its financial capacity. The remainder will be used to fund production and sales activities. The share issuance was approved in late…

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Vietnam 

Techcombank targets US$504.3 million in pre-tax profit – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Techcombank has targeted a pre-tax profit of more than VNĐ11.7 trillion (US$504.3 million) in 2019, representing a 10 per cent year-on-year increase. — Photo vietnamfinance.vn HÀ NỘI — Techcombank has targeted a pre-tax profit of more than VNĐ11.7 trillion (US$504.3 million) in 2019, representing a 10 per cent year-on-year increase. The target was approved at its annual shareholders’ meeting held in Hà Nội last week. It also planned to increase its total assets by 17 per cent to VNĐ375.8 trillion this year while holding outstanding loans at VNĐ245.4 trillion, up 32 per cent from…

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Home 

Singapore investment holding firm United Industrial raises stake in Marina Centre for S$485 million

United Industrial Corporation, a subsidiary of UOL Group, is acquiring a further 24.27 per cent stake in indirect subsidiary Marina Centre Private Holdings (MCH) for S$485.3 million (US$358.86 million), to be paid in cash. It already owns a 53.07 per cent stake in MCH.The acquisition is being made through the purchase of shares from the following vendors – 10 per cent from OUE for S$200 million, 10.27 per cent from Finnegan Investments for S$205.3 million and 4 per cent from Mackmoor for US$80… Source link

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Singapore 

Son declares mother dead and tries to claim $3.7 million from insurance, Singapore News

SINGAPORE – There was no tomb. The death certificate was forged. And with that, Singaporean Abraham Rock’s attempt to scam insurers of more than $3.7 million by declaring his mother dead was exposed. Rock had declared that his mother Talat Farman had died in a traffic accident in Pakistan, and tried to claim from policies bought from Great Eastern Life Assurance, MSIG Insurance and AXA Insurance. He submitted a police report, medical reports and a death certificate. But the insurance firms smelt a rat, and conducted investigations in Pakistan. There,…

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Home 

Ant Financial disrupts old school health insurance in China, attracts 50 million users to its newly launched protection plan

Billionaire Jack Ma’s Ant Financial has done more than perhaps any company to disrupt China’s massive banking and asset-management industries. Now it’s trying to reimagine health insurance.Ant’s Xiang Hu Bao, which means mutual protection, has attracted 50 million people since its October inception, or more than five times the population of New York City.The product operates somewhat like a collective, in which members contribute evenly to payouts of as much as 300,000 yuan (US$45,000) when a… Source link

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Home 

French asset manager Ostrum launching US$500 million Asian infrastructure debt fund

A French asset management company is targeting infrastructure projects in Asia-Pacific, including the Belt and Road Initiative, where the funding needs are estimated at US$22.6 trillion by 2030.Ostrum Asset Management, an affiliate of Natixis Investment Managers with €257.6 billion (US$290.3 billion) in assets under management, said that it was planning to raise up to US$500 million this year through a dedicated Asian infrastructure debt fund.The company said it plans to invest the funds… Source link

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China 

China’s thermal coal imports ‘will fall 10-12 million tonnes in 2019’

China’s thermal coal imports will decline by between 10 million and 12 million tonnes in 2019, a leading industry analyst said on Tuesday, largely because of rising domestic output in the world’s top producer and consumer.The country’s coal output will increase from the second quarter of 2019, reducing its reliance on overseas supplies, Rodrigo Echeverri, head of hard commodities at trader Noble Group, told an industry conference in Shanghai.China is set to produce an additional 100 million… Source link

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