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2021 and Masterise Group’s journey to create a bright future for the community

Masterise Group prioritizes special care to vulnerable populations by empowering the community to overcome the pandemic. It has contributed to raising people’s living standards in a sustainable way.

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The group is a quite young enterprise in the real estate market. But during its 8 years of operation, Masterise Group has always been a familiar name with various CSR programs such as granting scholarships to underprivileged children, celebrating Tet for students coming from provinces, and activities to support workers who face difficult situations.

In the challenging year 2021, the international real estate developer became a solid “shoulder” supporting the Ho Chi Minh city government and the country with several activities fighting the epidemic center and helping people in the new normal period.

Big journey originated from small efforts

On the morning of January 20, in the cool weather of days approaching the Lunar New Year, Phi An eagerly accompanied his grandmother to Phat Huy Binh Trieu Center in Thu Duc City for Tet gifts.

The 6-year-old boy, whose parents got divorced, has to live with his grandmother. His dream is simple. He wishes to have a chance to dress in new clothes in the Lunar New Year days, meet his friends and adopt a little dog.

For Phi An and his classmates, that day was a special event in life, because he was given Tet gifts and together with friends watched clowns making eye-catching toys.

During the offering ceremony, hundreds of gifts from Masterise Group were delivered to the children and their families. Joy appeared in the eyes and smiles of the children and their parents. The gift including 20 kilograms of rice, instant noodles, spices, and confectionery… help bring them relief and joy during Tet holiday.

Not only supporting gifts, the program also organizes folk games with the aim to share Tet atmosphere to children. Photo: Masterise Group
Not only supporting gifts, the program also organizes folk games with the aim to share Tet atmosphere to children. Photo: Masterise Group

The center was the first destination of Masterise Group’s CSR program entitled “Sharing Love – Sending Tet to Everyone” which was initiated to support disadvantaged people in Ho Chi Minh City. This is a series of long-term CSR programs the group coordinates with other organizations including Saigon Children, the municipal Ho Chi Minh Communist Youth Union, and Cho Ray Hospital.

According to the group’s representative, every Lunar New Year, Masterise Group supports the community with several practical programs such as Tet Reunion – supporting workers at the construction site, together with the Fatherland Front giving Tet gifts to poor households, accompany “Spring Day Nest” program as well as support students to celebrate Tet away from home.

“Unlike previous years, our efforts to support the community have been more proactive with comprehensive preparation since 2021. This is also part of our efforts to fulfill the commitment to build a more sustainable and better future in Vietnam,” shared Mr. Jason Turnbull, a representative of Masterise Group.

Organizing the CSR Tet program, Masterise Group coordinated with other organizations offering gifts to migrant workers, 1,500 street children, orphaned children in shelters or children who lost parents due to the COVID-19. The program also presented 7,000 gifts worth VND2.1 billion to workers at construction sites of Masterise Homes projects across the country.

Ms. Sunny Tong, deputy director of marketing communications at Masterise Homes during a meeting to support disadvantaged children due to the pandemic. Photo: Masterise Group
Ms. Sunny Tong, deputy director of marketing communications at Masterise Homes during a meeting to support disadvantaged children due to the pandemic. Photo: Masterise Group

The program also accompanied the city’s Ho Chi Minh Communist Youth Union arranging buses to send more than 1,000 students and workers home for Tet. The group also cooperated with Cho Ray Hospital giving 200 gifts to needy patients. Though the gifts cannot be compared with a chance to return to their hometown for Tet, the group could a little warmth with people who have to stay away from home during Tet.

In the midst of pandemic: no hesitation supporting the community

The series of CSR activities on the occasion of the Lunar New Year is consistent with what Masterise Group has been implementing for the past years. Targets of the programs are disadvantaged children, people badly hit by the pandemic.

The activity “Together with Vietnam Firmly Beat Pandemic” is an example. The program has been implemented since July 2021, empowering 10,000 workers in Ho Chi Minh City, helping them overcome the pandemic thanks to subsidies for house rentals.

The program donated medical equipment worth VND29 billion to the city’s health sector fighting the pandemic. Workers and frontline medical workers were those who got the hardest hit by the pandemic. They also become the main beneficiaries of Masterise Group’s community efforts in the midst of the pandemic.

Mr. Jason Turnbull, Deputy General Director and Chief Financial Officer of Masterise Homes directly presents gifts to employees. Photo: Masterise Group
Mr. Jason Turnbull, Deputy General Director and Chief Financial Officer of Masterise Homes directly presents gifts to employees. Photo: Masterise Group

“Not only building houses, Masterise Homes’ mission is to create ‘homes’ with intangible values. We want to make a small contribution to help workers stay strong and fight the pandemic,” said Mr. Jason Turnbull.

In addition to supporting medical equipment and rentals for workers, in September 2021, the group coordinated with the municipal Ho Chi Minh Communist Youth Union to provide 7,500 bags of COVID-19 medicine to patients in the city.

In the “new normal” time, the group gets involved in several humanitarian events such as “Honoring the Valedictorian in 2021”, which awards long-term scholarships to orphans who have lost parents from COVID-19 pandemic.

In the midst of social distancing, Masterise Group does not hesitate to join hand with the city’s Communist Youth Union’s members traveling to alleys in Ho Chi Minh City, supporting disadvantaged people. Photo: Masterise Group
In the midst of social distancing, Masterise Group does not hesitate to join hand with the city’s Communist Youth Union’s members traveling to alleys in Ho Chi Minh City, supporting disadvantaged people. Photo: Masterise Group

“At Masterise Group, we believe in a brighter future, where the living standard of modern Vietnamese is raised to a new level. Through our non-stop activities for the community, we aim to improve the quality of life and build a strong community with issues of Living Environment – Education – Humanitarian Relief,” said a representative of Masterise Group.

Source: https://e.nhipcaudautu.vn/companies/2021-and-masterise-groups-journey-to-create-a-bright-future-for-the-community-3344010/

Business

Upgrading the market for the sake of all participants

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An employee passes electronic boards showing share prices inside Hồ Chí Minh Stock Exchange in HCM City. — VNA/ Photo Hữu Khoa

HÀ NỘI — An upgrade to emerging status will not only help the stock market develop quickly, transparently and sustainably, but also attract huge foreign capital inflows, said experts. 

Recently, the Government has directed to purge the market and improve the trading system’s capacity, showing its determination to enhance the quality of the stock market.

The refinement is to protect investors and open a door for the Vietnamese stock market to be upgraded from a frontier to an emerging market.

Prime Minister Phạm Minh Chính has taken an interest in the development of the capital market and the stock market, including the matter of upgrading the market. 

During a trip to attend the ASEAN-US Special Summit, on May 16, the PM visited the New York Stock Exchange (NYSE) – the largest stock exchange in the world – hoping it supports and shares experience to develop an effective and sustainable stock market in Việt Nam, and successfully build a regional financial centre. 

PM Chính also expected the NYSE and its Vietnamese partners to foster a sustainable, mutually beneficial partnership, contributing to making the Việt Nam-US comprehensive partnership more substantive and effective.

On the occasion, PM Chính witnessed the awarding ceremony of two cooperation documents in the fields of finance, banking and investment funds between Vietnamese and US partners, including a cooperation document between the Vietnamese State Securities Commission (SSC) and the NYSE regarding support to upgrade the country’s stock market and build a mechanism for investors to participate in both stock markets.

Previously, the PM chaired a conference on developing a safe, transparent, efficient and sustainable capital market to stabilise the macro-economy and ensure major balances of the economy.

At the conference, PM Chính also asked the Ministry of Finance to immediately solve the order congestion situation and invest in technological innovation and digital technology application, while urgently implementing measures to upgrade the market from frontier to emerging status to attract investment capital, especially foreign investment.

Dominic Scriven, head of the Việt Nam Business Forum’s (VBF) Capital Markets Working Group, said that the move to purify the market is a great effort and determination from the Government.

As the goal is to build and develop a safe, transparent and sustainable securities market, cleansing the market will ensure the interests of businesses and genuine investors, increase the stock market’s appeal, and attract more investment capital flows both at home and abroad.

Meanwhile, Phạm Lưu Hưng, chief economist of SSI Securities Company (SSI), said that the move to purge the market in recent years raised expectations that the upgrade process will be easier. Hưng hoped that in the next assessment, the Market Rating Organization (MSCI) will note some positive comments about what Việt Nam has done.

According to Minister of Finance Hồ Đức Phớc, the ministry is currently working with international organisations to deploy solutions to upgrade the stock market by 2025 as per the set roadmap.

Huge foreign capital inflows

Analysts believe that the upgrade from frontier to emerging status will be an important driving force for the market.

Zafer Mustafaoglu, World Bank (WB) Practice Manager for Finance, Competitiveness and Innovation (FCI) for East Asia and Pacific, said that the capital market development is a long-term effort, and there is still much work to be done in Việt Nam.

Upgrading to emerging market status is not only an improvement in position, but also signals strong enhancement in quality with a solid market foundation.

Upgrading to an emerging market also attracts the attention of high-ranking international investors to Việt Nam. In the stock market, upgrading to an emerging market could result in an additional US$10 billion in new investment for the country. The first year alone can receive an additional $2-5 billion.

According to Nguyễn Minh Tuần, General Director of AFA Capital Investment JSC, the criteria for upgrading from frontier to emerging status focus on two main factors – size and liquidity of the market (quantitative) and market access (qualitative).

In terms of size and liquidity, there are four criteria which are the number of companies included in the Standard Index, total market capitalisation, floating capitalisation and market liquidity. Việt Nam has almost met three standards, he said. 

The main issue is qualitative standards. In the latest ranking in June 2021, there are nine criteria that the country has not yet met, including the ownership rate, ownership restrictions and equal rights of foreign investors.

Source: https://vietnamnews.vn/economy/1194077/upgrading-the-market-for-the-sake-of-all-participants.html

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EVN accelerating projects to gear up for hot season

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EVN workers checks electricity equipment. — VNA/  Photo

HÀ NỘI — Vietnam Electricity (EVN) said it is accelerating power generation and grid projects, especially urgent infrastructure, to ensure supplies in the hot season.

The State-owned group said in the first four months of 2022, the firm and its subsidiaries had started work on 30 projects and put into use 31 grid facilities between 110kV – 500kV.

It cited meteorological forecasting centres as saying that heatwaves this year are likely to appear in the northern and central regions later than usual, but won’t be too severe.

Power demand in the north is unlikely to rise sharply in May, and daily consumption will be around 805 million kWh.

EVN noted that this month, it is working to guarantee supply for production and business activities as well as daily life, especially the 31st Southeast Asian Games (SEA Games 31) and the 15th National Assembly’s third session.

It is maintaining high water levels at multi-purpose hydropower plants in the north, operating thermal power plants in the region, and importing about 540MW of electricity in May.

Its subsidiaries were also requested to ensure power supply in the dry season, ready manpower and equipment for any possible incidents due to natural disasters, and recommend people, agencies and factories use electricity in a safe and economical manner.

In April, the entire EVN system produced 22.62 billion kWh of electricity, up 1.9 per cent year-on-year. That added up to a four-month figure of 85.65 billion kWh, increasing 6.2 per cent. —

Source: https://vietnamnews.vn/economy/1194045/evn-accelerating-projects-to-gear-up-for-hot-season.html

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Deputy Finance Minister Nguyễn Đức Chi takes charge of the State Securities Commission

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Deputy Finance Minister Nguyễn Đức Chi. — Photo vtv.vn

HÀ NỘI — Minister of Finance Hồ Đức Phớc had assigned Deputy Finance Minister Nguyễn Đức Chi to take charge of the State Securities Commission (SSC) from May 19.

In a dispatch to the SSC, Minister Phớc stated that Deputy Minister Chi will manage the commission during the consideration and completion of personnel for the commission.

Earlier on May 18, the Party Central Committee’s Inspection Commission announced the inspection conclusions and Party disciplinary measures on the SSC Party Committee in the 2015-20 tenure and relevant individuals. Right after that, the Ministry of Finance directed the SSC, stock exchanges, the Việt Nam Securities Depository and relevant agencies to review and implement measures to remedy the violations and shortcomings.

Specifically, the ministry dismissed Trần Văn Dũng from the position of the Chairman of the SSC, while giving a warning to Vũ Bằng, former secretary of the SSC Party Committee in the 2015-20 tenure and former SSC Chairman.

Warnings were given to Nguyễn Thành Long, secretary of the Hà Nội Stock Exchange Party Committee; and Nguyễn Sơn, chairman of the management board of the Việt Nam Securities Depository for their wrongdoings during their tenures. —

Source: https://vietnamnews.vn/economy/1194041/deputy-finance-minister-nguyen-duc-chi-takes-charge-of-the-state-securities-commission.html

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