DONG NEWS 12 JULY

12
JUL/12
0
Last update 12/07/2012 10:22:00 AM (GMT+7)

VietNamNet Bridge – The so called “cross-ownership” has become so popular in the banking sector (banks contribute capital to other banks to become founding shareholders of the other banks).



Moves taken to transfer capital

On June 19, 2012, Maritime Bank (MSB) spent 220 billion dong to buy 15.228 million Military Bank’s (MBB) shares more. With the transaction, Maritime Bank has raised the total amount of Military Bank’s shares it holds to 94,14,630 shares, or 9.411 percent of the bank’s chartered capital.

Prior to that, the MSB shareholders’ meeting approved the plan to allow the board of directors to buy stakes of businesses and credit institutions with the value of over 20 percent of MSB’s chartered capital (or 1.6 trillion dong).

At the 2012’s shareholders’ meeting of Eximbank, President Le Hung Dung said the bank has injected 1600 billion dong in Sacombank already. Meanwhile, EIB has received the shareholders’ authorization to represent 53 percent of shareholders at Sacombank.

The State Securities Commission last month released a decision on imposing a fine on the three big shareholders of Sacombank for their behavior of purchasing 1.8 million Sacombank’s shares without giving notice to the watchdog agency. After that, people have found out that the new owners of Sacombank are all from the banking sector, such as Eximbank, Southern Bank and Kien Long Bank.

The information that three commercial banks had new CEOs last week has stirred up the public, because people believe that this is a move showing the underground capital transfer in the banking sector.

Who are the real owners?

Analysts have noted that there are zigzag ownership relations in the banking sector. However, the complicated and tortuous relations have not been clarified yet, because commercial banks have their subsidiaries, associated companies which also hold banks’ shares.

By May 17, 2012, the Saigon-Hanoi Securities Company (SHS) had reportedly held 3.74 percent of the Saigon- Hanoi Bank (SHB). Meanwhile, by December 31, 2011, SHB had held 8.22 percent of capital at SHS.

Also, the relations of the “big bosses” of the banks remain questionable, since the ownership relations have become more and more complicated.

Eximbank’s annual finance report in 2011 showed that the bank had the investment deals in Rong Viet Securities (10.86 percent), Eximland (10.99 percent), Nha Rong Insurance (9.45 percent), Viet Long Growth Fund (10 percent) and Saigon Exim (11 percent).

The companies also contribute capital to each other. Nha Rong insurer, Rong Viet securities and Saigon A Chau are the shareholders of Viet Long. Meanwhile, Saigon A Chau is holding 10.51 percent of Rong Viet, 10.86 percent of Eximnbank and 2.06 percent of Viet Long’s stakes.

If the miscalculation had not been made, which then led to the State Securities Commission’s decision to impose fine on the involved parties, the case had not been exposed to the public, and no one would have known that Saigon A Chau was holding up to 5.01 percent, and Saigon Exim 5.17 percent of stakes of STB.

It remains a mystery about who are the real owners of the banks. The current laws prohibit the behaviors of owning controlling stakes at credit institutions, because this would harm shareholder’s benefits. However, it is very difficult to discover the violations. The banks’ annual reports only give “vague” information about the big shareholders and relating persons who hold more than 20 percent of the stakes of the banks.

Source: DTCK

http://dongtalk.com/forums/showthread.php?t=33976

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12
JUL/12
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Last update 12/07/2012 08:11:00 AM (GMT+7)

VietNamNet Bridge – The issue of developing smart urban areas in Vietnam was first put forward 5-6 years ago. However, no considerable progress has been made so far.



According to the Ministry of Construction, Vietnam is witnessing a very rapid urbanization process with 800 urban areas having set up, where 25 million people reside. It is expected that by 2040, the total urban area would be ten folds bigger than now.

This means that a lot of problems would arise during the urbanization process, relating to the transport, healthcare, electricity and water supply. The only solution to settle the problems is creating smart urban areas by utilizing information technology solutions and other high technologies in order to effectively manage the power use, transport and security, entertainment, healthcare and education.

This means that Internet connections must exist in all the fields, so as people can use convenient services, while the localities can set up effective remote control over the works in their localities. When the requirements can be satisfied, Vietnam would have smart urban areas.

Experts have affirmed that the technological conditions for Vietnam to develop smart urban areas are “at hand”, when a lot of foreign and domestic conglomerates such as Cisco, IBM, Ericsson, Intel or Bkav Smarthome have continuously launched new solutions to the market.

IBM, for example, has introduced the solutions relating to the clean water supply, food and transport. Meanwhile, Swedish Ericsson provides the solutions marching towards the electronic healthcare system in Vietnam. Bkav SmartHome has launched the solutions targeting households, individuals, allowing users to operate their power, water systems, air conditioners and light at their home from a distance.

Do Tu Lan, Head of the Urban Development Department under the Ministry of Construction, said that South Korean Songdo, Incheon or Chinese Shanghai free economic zones and Malaysian Shah Alam could be the models for Vietnam to consider when developing smart urban areas.

Still in the infant development stage

According to Nguyen Van Lang, Deputy Minister of Science and Technology, Head of the Hoa Lac Hi-tech Park Management Board, developing smart urban areas with some pilot projects was mentioned in 2008 already.

In 2008, the project on a smart urban area in Hoa Lac Hi-tech Park with Japanese capital was draws up. Meanwhile, Da Nang City has been team up with Cisco, IBM and Intel to build up smart urban areas with e-government since 2008 and provide the apps allowing local people registering their business, or registering transport means via Internet.

In March 2012, Thai Nguyen province in the north decided to join hands with a South Korean enterprise to build up a smart urban area in Yen Binh urban area project, about 1035 hectares. The project would be implemented with the ODA (official development assistance) capital worth 3.5 million dollars from South Korea.

Meanwhile, thousands of high rise building projects in Hanoi, Da Nang and HCM City also plan to utilize information technology solutions to better manage the infrastructure and provide services to the buildings.

However, experts have pointed out that smart urban areas have been developing just in a spontaneous way. High rise buildings and new urban areas have been booming in recent years, but most of them are not “Smart ones”, according to Pham Kim Son, Director of the Da Nang City’s Information and Communication Department.

Deputy Minister of Construction Nguyen Tran Nam has admitted that Vietnam is still at the very beginning in the process of developing smart urban areas. However, he believes that it’s now the right time for management agencies to step by step require investors to apply some standards of smart urban areas for their projects.

Source: Buu Dien

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12
JUL/12
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Last update 12/07/2012 01:58:00 PM (GMT+7)

VietNamNet Bridge – More and more one stop shops have been set up in big cities since the day the first shop of this kind appeared on the market one year ago.



Retailers nowadays tend to set up shopping centers and shops with large areas which can offer a multitude of products and services to customers. The products available here are diversified in styles, designs and prices. Customers just need to go to one shop to look for many different kinds of goods and services suitable to them.

One stop shops is a growing tendency

After the first one stop shop opened at Crescent Mall in district 7 of HCM City in 2011, Thoi Trang Viet (Viet Fashion) Company has opened four more Ninomaxx Concept shops just within the last two months. The shops are located at Savico shopping mall in Hanoi, in Dong Thap, Bac Lieu and Can Tho provinces.

Thomas Ngo, General Director of Thoi Trang Viet, said the company plans to have 15-20 Ninomaxx Concept shops by the end of 2012. Each of the shops would have the minimum area of 400 square meters, where 1000-2000 product items are displayed.

The products to be available here are not only the ones of Thoi Trang Viet (with Ninomaxx, MaxxStyle and N&M brands), but also ties, footwear, handbags and jewelries as well. He said Thoi Trang Viet would join forces with some other businesses to provide a wide range of products through Ninomaxx Concept distribution chain.

Ngoi Nha Hanh Phuc (Happy House) Joint Stock Company opened a construction material and interior product supermarket in Binh Duong province in May 2011. Those people, who go there, can find all kinds of products needed for their houses, from tiles, sanitary ware to chairs, bed and decorating things.

On the telecom market, CMC Telecom has also provided one stop shop services. Thien Hoa and Nguyen Kim, the two well known home appliance suppliers, have also been following the model when expanding their distribution networks. Home electrical appliances, electronics, entertainment equipments, IT equipments, mobile phones all can be found at the distributors’ shops.

Deep investments needed

Huynh Ngoc Huong, General Director of Ngoi Nha Hanh Phuc, has revealed that the supermarket would have an 800 square meter area for displaying interior products with European classical style.

Huong said with the all-in services, customers would find all suitable products while they do not have to drop into different shops, thus allowing them saving 80 percent of the time on traveling, choosing samples and making transactions.

Analysts have commented that one stop shop would be the “model of the future.” Unlike general supermarkets and shopping malls which display tens of thousands of product items in different fields, one stop shops specialize in certain products of the same production fields. Therefore, the shops would be the top choice for people, especially those, who need high grade products.

However, though forecasting that this would be a growing tendency, the analysts have admitted that the boom of one stop shops would not be seen in the immediate time, since the national economy is still in difficulties.

Some businessmen have revealed that they have been planning to set up the shops of this kind for a long time, but the projects have been delayed due to the current unfavorable conditions.

Ngoi Nha Hanh Phuc, for example, after opening Domus Center in Binh Duong province, plans to set up other centers in HCM City and some other provinces. However, the plan has been delayed until more optimistic signs can be seen.

Source: NLD

http://dongtalk.com/forums/showthread.php?t=33975

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10
JUL/12
0
Tuoitrenews

Updated : Tue, July 10, 2012,3:22 PM (GMT+0700)


US Secretary of State Hillary Clinton (L) is greeted by Vietnam's Foreign Minister Pham Binh Minh at the Government Guest House in Hanoi July 10, 2012
Photo: Reuters

US Secretary of State Hillary Clinton arrived at Noi Bai Airport in Vietnam’s Hanoi capital on Tuesday to start her two-day official visit for stepping up mutual cooperation, before attending the ASEAN Regional Forum (ARF) in Cambodia.

She was welcomed by US Ambassador to Vietnam David Shear and Vietnam’s Foreign Minister Pham Binh Minh.

Ms. Clinton is expected to take part in the ARF and East Asia Summit meetings, which are being held in Cambodia over July 9-13.

The meetings will also draw the participation of foreign ministers of other regional nations such as South Korea, Japan, Australia, and China.

American officials said that Ms. Clinton is expected to deflate tensions between China and ASEAN nations over the territorial dispute in the East Sea.


US Secretary of State Hillary Clinton arrives at Noi Bai International Airport in Hanoi July 10, 2012 (Photo: Reuters)


US Secretary of State Hillary Clinton (L) shakes hands with US Ambassador to Vietnam David B. Shear (C) on her arrival at Noi Bai International Airport in Hanoi July 10, 2012. Clinton is on an official visit to Vietnam from July 10 to 11 (Photo: Reuters)


US Secretary of State Hillary Clinton (L) is greeted by Vietnam's Foreign Minister Pham Binh Minh at the Government Guest House in Hanoi July 10, 2012 (Photo: Reuters)


US Secretary of State Hillary Clinton (L) is greeted by Vietnam's Foreign Minister Pham Binh Minh at the Government Guest House in Hanoi July 10, 2012 (Photo: Reuters)


Vietnam's Foreign Minister Pham Binh Minh (R) looks at US Secretary of State Hillary Clinton as they walk to the meeting room at the Government Guest House in Hanoi July 10, 2012 (Photo: Reuters)


US Secretary of State Hillary Clinton (2nd L) is seen during a meeting with Vietnam's Foreign Minister Pham Binh Minh (unseen) at the Government Guest House in Hanoi July 10, 2012. Clinton is in Hanoi on a two-day visit to Vietnam from July 10 to 11 (Photo: Reuters)


US Secretary of State Hillary Clinton (3rd L) and Vietnam's Foreign Minister Pham Binh Minh (2nd R) talk at the Government Guest House in Hanoi July 10, 2012 (Photo: Reuters)

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