Property 

China takes top spot for private equity property investment in Asia in Q1, while Hong Kong finds itself in dogfight with India

Global private equity funds – the most agile investor in the cross-border real estate world – poured US$5.1 billion into China and Hong Kong property in the first quarter of this year, making the spots the top and third most favoured destinations respectively in Asia, according to Knight Frank.China absorbed US$3.6 billion of private equity capital in the first quarter while Hong Kong took in US$1.53 billion. By comparison, $1.56 billion went to second-placed India and $1.3 billion to Japan,… Source link

Read More
Vietnam 

VN banks handle $898.4 b through e-payments in Q1 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Việt Nam targeted that the ratio of cash transactions should be reduced to below 10 per cent lower than the national plan of non-cash payment market for the period 2016-20. — Photo baocongthuong.vn HÀ NỘI — Viet Nam’s interbank e-payment system handled 37 million transactions worth nearly VNĐ21 quadrillion (US$898.4 billion) in the first quarter of the year, up 23 per cent and 17.8 per cent respectively compared to 2018, according to the State Bank of Việt Nam (SBV). Nghiêm Thanh Sơn, deputy head of SBV’s Payment Department,…

Read More
Vietnam 

Steel companies post disappointing results in Q1 despite strong market growth – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Pomina steel products. Pomina reported loss of VNĐ82 billion in the first quarter while it posted more than VNĐ226 billion in the same period of last year. — Photo thepmiennam.net.vn HÀ NỘI – Listed steel companies have reported disappointing business results in the first quarter despite strong growth in the domestic market, which they have attributed to the high cost of capital. According to the Việt Nam Steel Association (VSA), domestic steelmakers produced 5.07 million tonnes in the first four months, registering growth of 37 per cent year-on-year.…

Read More
Vietnam 

Bảo Việt revenue up 19% in Q1 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Bảo Việt reported after-tax profit of more than VNĐ455 billion in the first quarter, a year-on-year decrease of 10 per cent. — Photo plo.vn HÀ NỘI — Bảo Việt Group posted nearly VNĐ8.1 trillion (US$348 million) in insurance revenue in the first quarter of 2019, a year-on-year increase of 19 per cent. Life insurance rose by nearly 20 per cent, reaching over VNĐ5.53 trillion. Non-life insurance premiums brought in approximately VNĐ2.67 trillion, up 10.5 per cent. Total direct spending by the insurance business reached more than VNĐ7.33 trillion, a decrease…

Read More
Vietnam 

Shopee, Tiki solidify positions as top e-commerce sites in traffic in Q1 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The Vietnamese e-commerce market is forecast to grow much faster this year. VNA/VNS Photo HÀ NỘI — Shopee and Tiki maintained their positions as the two leading sites in terms of traffic in Việt Nam’s e-commerce sector in the first quarter of this year. According to the latest figures from the Map of E-Commerce released recently by iPrice Group – a meta-search website operating in seven countries across Southeast Asia, Shopee still held the dominant position in Q1 2019 with 40.7 million visits per month on average. Tiki followed with 35.6 million visits…

Read More
Vietnam 

Corporate bond issuance up 220% in Q1 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

More than VNĐ9.1 trillion (US$391 million) worth of corporate bonds were issued in the first quarter of 2019, up 222 per cent year on year. — Photo tapchitaichinh.vn/ HÀ NỘI — More than VNĐ9.1 trillion (US$391 million) worth of corporate bonds were issued in the first quarter of 2019, up 222 per cent year on year. The Refrigeration Electrical Engineering Corporation (HoSE: REE) had the highest value of corporate bond issuance with VNĐ2.32 trillion. REE’s bonds will mature in 10 years with annual yield rate of 7 per cent. HCM…

Read More
Vietnam 

Viettel posts $2.34 billion revenue in Q1 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    The boom of 4G and increasing use of mobile data have contributed to the positive business results. — VNS Photo        HÀ NỘI — Viettel Group posted revenue of VNĐ54.4 trillion (US$2.34 billion) and integrated profit of VNĐ10.1 trillion in the first quarter of this year, representing 107 per cent and 116 per cent year-on-year increases respectively. The group said the boom of 4G and increasing use of mobile data contributed to the success. Statistics from the Ministry of Information and Communications showed Viettel signed up about 1 million new 4G subscribers a month…

Read More
Vietnam 

VN stocks fall on disappointing Q1 earnings – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Engineers run the firework system at a PetroVietnam Gas’ plant in Cà Mau Province. PetroVietnam Gas Corporation’s shares advanced on Monday to help the benchmark VN-Index pared some losses caused by disappointing brokerages’ Q1 earnings. – Photo petrovietnam.petrotimes.vn HÀ NỘI — Vietnamese shares pared early losses on Monday as oil and gas stocks moved higher to buoyed investor confidence from disappointing Q1 corporate earnings. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange inched down 0.04 per cent to close at 965.86 points. The VN-Index was down as much as 0.71 per…

Read More
Vietnam 

Dung Quất refinery earns $26m in Q1 post-tax profit – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A view of the Dung Quất oil refinery. — Photo VNA HÀ NỘI — The Dung Quất oil refinery, based in the central province of Quảng Ngãi, exceeded its designed capacity by 7 per cent in the first quarter of 2019, helping it gain over VNĐ606 billion (US$26 million) in post-tax profit during the period. In Q1, the factory turned out more than 1.7 million tonnes of products and earned over VNĐ23.05 trillion in revenue. It contributed some VNĐ2.44 trillion to the State budget, according to the financial report for Q1 of…

Read More
Vietnam 

PV Gas reports 16% increase in Q1 profit – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  PetroVietnam Gas Corporation posted a 16 per cent increase in post-tax profit for the first quarter of 2019, which reached VNĐ3.03 trillion. Photo pvgas.com.vn HÀ NỘI — PetroVietnam Gas Corporation (PV Gas) has announced its post-tax profit in the first quarter was up 16 per cent year on year to VNĐ3.03 trillion (US$130.2 million). In the first three months of 2019, the company earned more than VNĐ18.6 trillion in net revenue, a yearly increase of 3 per cent. The company has accomplished 29 per cent of the full-year revenue target…

Read More