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Financial Times applauds Nyobolt’s tungsten battery technology

Nyobolt, a startup funded by Masan High-Tech Materials has outperformed numerous excellent applicants to advance to the final round ‘Tech Champions’ organized by Financial Times.

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The company is recognized as the pioneer in the development of ultrafast-charging tungsten-based battery technology. This year’s ‘Tech Champions’ features Energy as a focus of attention for innovators.

“Revolutionising the performance of Lithium-ion batteries, Nybolt is transforming the use of battery in EVs, medical devices, and robotics,” acclaimed the Financial Times judging panel when shortlisting Nyobolt as a finalist together with four other companies in the Energy sector.

The Financial Times (FT) ‘Tech Champions’ identify those European companies that have used technology to pivot their businesses to new ways of working. More than 300 nominations were received across multiple sectors tackling energy shortages, economic sanctions, and broken supply chains as a result of the political turmoil in Eastern Europe and in the aftermath of the Covid-19 pandemic.

The FT judging panel will review and select the winners in multiple categories, including Banking & Payments, Markets & Financial services, Shipping & Transport, Manufacturing, Professional Services, Retail, Energy, IT & Cybersecurity, Media, and Healthcare. The ten winners will be announced on November 21st.

Nyobolt was selected as finalist because of the cutting-edge technology in the use of tungsten in Lithium-ion batteries which allows for faster charging and extended battery life.

This is a significant steppingstone for Nyobolt after receiving an investment of GBP 45 million (around EUR 52 million) in July 2022 from H.C. Starck Tungsten Powders (HCS) – a subsidiary of Masan High-Tech Materials. The funding from H.C. Starck has helped Nyobolt scale up its operations in the UK and United States to focus on the development of the next-generation tungsten batteries.

Nyobolt’s technology employs H.C. Starck’s advanced Tungsten materials in the battery anode coating to produce batteries of superior quality. With record-high power density and ultrafast charging speed, this new-generation battery would compensate for the shortcomings of conventional batteries such as hyper-sensitivity, thermal stress and exorbitant costs.

Nyobolt tests have shown that Tungsten-based Lithium-ion batteries are 10 times more efficient than conventional batteries of the same size, with 90 percent charged in less than 5 minutes. With up to 10 times higher power density, the battery has longer durability and saves cost of battery usage. Particularly, this battery technology helps reduce risks of fire and explosion, thus increasing safety for end-users.

Nyobolt’s use of HCS advanced tungsten materials in Li-ion batteries is seen as a breakthrough technology that is predicted to transform the battery industry in the near future. When commercializing this new battery product range, Nyobolt and HCS will demonstrate their foresight in developing a clean energy ecosystem.

Nyobolt signed an investment cooperation agreement with Masan High-Tech Materials in July. 2022
Nyobolt signed an investment cooperation agreement with Masan High-Tech Materials in July. 2022

Chairman of Masan High-Tech Materials Mr. Danny Le shared that the company aimed to move further downstream and become a global consumer-tech business, addressing the unmet needs of key industries around the world.

Accordingly, the investment in Nyobolt demonstrates Masan’s strong commitment to continue developing efficient and safe products that serve direct consumer needs. Besides funding for Nyobolt to soon commercialize tungsten-based batteries, in 2022 Masan High-Tech Materials will continue to focus on recycling raw materials, implementing carbon-neutral initiatives, and promoting circular economy development. “Our ultimate goal is to achieve long-term sustainability. To that end we are working to accelerate the development of a circular economy for batteries via enhanced recycling and innovative models of use,” said Mr. Danny Le.

Mr. Danny Le added that Masan High-Tech Materials and its subsidiary HCS are now putting all efforts into research and development of the Tungsten Scrap Recycling Plant with the ambition to turn Vietnam into the region’s leading technology centre for recycling tungsten and precious metals, thereby reducing reliance on primary raw materials from mining activities.

“By 2027, Masan will not only be the world’s leading supplier of high-tech materials, but also an innovation leader in the global consumer technology products, with high-efficiency rechargeable Li-ion battery being the first-to-market”, stated Mr. Danny Le.

The Financial Times ‘Tech Champions’ initiated in 2021 and nominated by FT readers help spot out European companies finding scientific solutions to today’s business challenges. In 2022 out of nearly 300 submissions, FT journalists reviewed them, researched the nominated companies, and helped draw up shortlists in ten categories. Companies nominated for this year awards are those using technology to tackle energy shortages, economic sanctions, and broken supply chains as a result of the political turmoil in Eastern Europe and in the aftermath of the Covid-19 pandemic.

Source: https://e.nhipcaudautu.vn/companies/financial-times-applauds-nyobolts-tungsten-battery-technology-3349154/

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CapitaLand Ascott’s gross profit in Vietnam up 31% to $10 mln in 2022

CapitaLand Ascott Trust, the management agency of five Somerset hotels in Vietnam, posted a revenue of S$27.6 ($20.63 million) from its Vietnam operation in 2022, up 33% year-on-year.

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Amid the country’s post-Covid-19 reopening, the revenue per available unit (REVPAU) grew 52% year-on-year to S$62 ($46.3) per day. The agency also attributed the growth to the acquisition of Somerset Central TD Haiphong City on November 30 last year.

As a result, the group earned a gross profit S$14 million ($10.46 million) in Vietnam, up 31% year-on-year.

On a global scale, CapitaLand Ascott recorded a revenue of S$621.2 million ($464.21 million) in 2022, up 58% year-on-year, with a REVPAU of S$120 ($89.67) per day, up 74%. Gross profit increased 63% year-on-year to S$282.8 million ($211.33 million).

CapitaLand Ascott Trust now manages five hotels in Vietnam, namely Somerset Hoa Binh Hanoi and Somerset Grand Hanoi in the capital city, Somerset Chancellor Court Ho Chi Minh City and Somerset Ho Chi Minh City in the southern economic hub, and Somerset Central TD Haiphong city.

The total valuation of the five hotels with 893 available units reached S$221.9 million ($165.82 million) as of end-2022, according to CapitaLand Ascott.

Source: The Investor

Source: https://e.nhipcaudautu.vn/companies/capitaland-ascotts-gross-profit-in-vietnam-up-31-to-10-mln-in-2022-3351413/

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Bamboo Airways has new investor

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Bamboo Airways is negotiating a deal with a new investor, showing its latest move one year after former chairman Trinh Van Quyet was arrested in March 2022 on charges of stock market manipulation, a representative of the airline told Tuoi Tre (Youth) newspaper on Thursday.

The air carrier and the new investor are in the process of completing a part of investment procedures. Who the investor is remains unclear.

The airline has found a new investor to replace former chairman Trinh Van Quyet and some relevant shareholders, said Bamboo Airways CEO Nguyen Manh Quan.

The air carrier also actively helped the investor with relevant procedures of stake acquisition. The transferred stake was mortgaged at banks from 2020 by old shareholders.

Apart from the stake purchase, the new investor agreed to take responsibility for all payments for the previous loans taken out by the old shareholders who used their stakes in Bamboo Airways as collateral at banks.

Over the past few months, Bamboo Airways has faced financial distress due to the COVID-19 pandemic and upheavals in senior personnel. As such, the airline has cried for help from major investors to relieve the hardship.

Him Lam Corporation lent Bamboo Airways VND8 trillion (US$338 million). Him Lam is a real estate firm run by Duong Cong Minh, who is a senior advisor to Bamboo Airways.

The airline’s recent moves are considered a solution to its restructuring and operation stabilization.

Speaking at its annual general shareholder meeting in early March, Le Ba Nguyen, chairman of FLC Group, said that the firm was considering selling its stake in Bamboo Airways.

FLC Group’s total investment in the air carrier stands at VND4.015 trillion ($170 million), or a 21.7-percent stake.

In 2021, Bamboo Airways missed earnings, so FLC made a provision for its investment of over VND373 billion ($15.7 million). The provision jumped to VND3.64 trillion ($154 million) in 2022.

A flight attendant is at work on a Bamboo Airways plane. Photo: Cong Trung/ Tuoi Tre

A flight attendant is at work on a Bamboo Airways plane. Photo: Cong Trung/ Tuoi Tre

Bamboo Airways has sought for a new investor for more than one year, as aviation is a highly competitive industry and is regarded as a ‘cash-burning industry’ in airspace.

The airline has a fleet of 30 planes. For its strong growth, the carrier is set to expand its fleet to 100 aircraft.

Other local airlines, Pacific Airlines and Vietravel Airlines, are also looking for investors to make their financial health better to overcome market challenges.

FLC Group set up Bamboo Airways in late May 2017, with its initial charter capital of VND700 billion ($29.6 million).

In April 2022, FLC became the airline’s largest shareholder, with capital contribution totaling over VND3.58 trillion ($151.4 million), or a 51.24-percent stake in the air carrier.

FLC former chairman Quyet poured over VND2.8 trillion ($118.4 million) into the airline, or a 40.03-percent stake, while other shareholders injected more than VND610 billion ($25.8 million), an 8.73-percent share.

In its recent financial statement, FLC’s ownership in Bamboo Airways fell to 21.7 percent of the latter’s total charter capital of VND18.5 trillion ($782.3 million).

Bamboo Airways’ board of directors has five members, including Nguyen Ngoc Trong, chairman of the airline; Doan Huu Doan and Le Ba Nguyen, vice-chairs of the carrier; Le Thai Sam; and Nguyen Manh Quan.

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Bamboo Airways is negotiating a deal with a new investor, showing its latest move one year after former chairman Trinh Van Quyet was arrested in March 2022 on charges of stock market manipulation, a representative of the airline told Tuoi Tre (Youth) newspaper on Thursday.

The air carrier and the new investor are in the process of completing a part of investment procedures. Who the investor is remains unclear.

The airline has found a new investor to replace former chairman Trinh Van Quyet and some relevant shareholders, said Bamboo Airways CEO Nguyen Manh Quan.

The air carrier also actively helped the investor with relevant procedures of stake acquisition. The transferred stake was mortgaged at banks from 2020 by old shareholders.

Apart from the stake purchase, the new investor agreed to take responsibility for all payments for the previous loans taken out by the old shareholders who used their stakes in Bamboo Airways as collateral at banks.

Over the past few months, Bamboo Airways has faced financial distress due to the COVID-19 pandemic and upheavals in senior personnel. As such, the airline has cried for help from major investors to relieve the hardship.

Him Lam Corporation lent Bamboo Airways VND8 trillion (US$338 million). Him Lam is a real estate firm run by Duong Cong Minh, who is a senior advisor to Bamboo Airways.

The airline’s recent moves are considered a solution to its restructuring and operation stabilization.

Speaking at its annual general shareholder meeting in early March, Le Ba Nguyen, chairman of FLC Group, said that the firm was considering selling its stake in Bamboo Airways.

FLC Group’s total investment in the air carrier stands at VND4.015 trillion ($170 million), or a 21.7-percent stake.

In 2021, Bamboo Airways missed earnings, so FLC made a provision for its investment of over VND373 billion ($15.7 million). The provision jumped to VND3.64 trillion ($154 million) in 2022.

A flight attendant is at work on a Bamboo Airways plane. Photo: Cong Trung/ Tuoi Tre

A flight attendant is at work on a Bamboo Airways plane. Photo: Cong Trung/ Tuoi Tre

Bamboo Airways has sought for a new investor for more than one year, as aviation is a highly competitive industry and is regarded as a ‘cash-burning industry’ in airspace.

The airline has a fleet of 30 planes. For its strong growth, the carrier is set to expand its fleet to 100 aircraft.

Other local airlines, Pacific Airlines and Vietravel Airlines, are also looking for investors to make their financial health better to overcome market challenges.

FLC Group set up Bamboo Airways in late May 2017, with its initial charter capital of VND700 billion ($29.6 million).

In April 2022, FLC became the airline’s largest shareholder, with capital contribution totaling over VND3.58 trillion ($151.4 million), or a 51.24-percent stake in the air carrier.

FLC former chairman Quyet poured over VND2.8 trillion ($118.4 million) into the airline, or a 40.03-percent stake, while other shareholders injected more than VND610 billion ($25.8 million), an 8.73-percent share.

In its recent financial statement, FLC’s ownership in Bamboo Airways fell to 21.7 percent of the latter’s total charter capital of VND18.5 trillion ($782.3 million).

Bamboo Airways’ board of directors has five members, including Nguyen Ngoc Trong, chairman of the airline; Doan Huu Doan and Le Ba Nguyen, vice-chairs of the carrier; Le Thai Sam; and Nguyen Manh Quan.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

Source: https://tuoitrenews.vn/news/business/20230318/bamboo-airways-has-new-investor/72149.html

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Eximbank forecasts $212 mln profit in 2023

Eximbank is aiming for a pre-tax profit of VND5 trillion ($212 million) in 2023, up 35% year-on-year, according to a document to be released at its 2023 annual shareholders meeting.

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The meeting is scheduled to be held on April 14 at the GEM Center Convention Center, Ho Chi Minh City. 

In 2023, Eximbank targets total assets of VND210 trillion ($8.9 billion), up 13.5% year-on-year. Capital mobilization is expected to increase by 11% to VND165 trillion ($7 billion), and outstanding loans (including corporate bonds) to increase by 12.3% to VND146.6 trillion ($6.22 billion).

At the meeting, Eximbank will also present to shareholders a plan to increase charter capital. Specifically, the bank plans to issue 265.5 million shares to pay dividends, increasing its charter capital to more than VND17.47 trillion ($740.77 million).

Eximbank, listed on the Ho Chi Minh Stock Exchange (HoSE) as EIB, reported an after-tax profit of VND2.5 trillion ($106.78 million) in 2022, a three-time increase year-on-year.

The bank’s net interest income reached VND5.59 trillion ($238.47 million), up 59% year-on-year, while profit from service activities hit VND514 billion ($21.92 million), up 19%.

Profit from foreign exchange business increased by 54% to VND606 billion ($25.84 million), and the figure from other activities, mainly debt collection and settlement, rose by 68% to VND428 billion ($18.25 million).

Eximbank’s total operating income was VND7.23 trillion ($308.45 million), up 53.6% year-on-year. Operating expenses increased by 36% to VND3.42 trillion ($145.84 million), meaning the cost to income ratio (CIR) improved significantly, down from 53% to 47%.

Notably, the bank’s risk provision expense in 2022 was only VND103 billion ($4.39 million), down 90% over the same period last year.

By December 31, 2022, Eximbank’s total assets had reached VND185.05 trillion ($7.89 billion), up 11.6% compared to the end of 2021.

Outstanding loans increased by 14% to VND129.2 trillion ($5.51 billion), and customer deposits increased by 8.2 % to VND148.61 trillion ($6.34 billion).

Eximbank’s bad debt was VND2.35 trillion ($100 million), up 4.4% year-on-year, an increase much lower than the credit growth rate. The bad debt ratio improved, decreasing from 1.96% to 1.8%.

On January 14, Japan’s Sumitomo Mitsui Banking Corporation (SMBC) sold 134 million Eximbank (EIB) shares, equivalent to 10.8% of the bank’s charter capital, for VND3.421 trillion ($146 million). 

On March 18, 2022, the Japanese financial institution officially announced in writing the termination of its strategic alliance agreement with Eximbank. In September, a representative of SMBC in Eximbank, Vo Quang Hien, left as a member of its board of directors.

On the HoSE, Eximbank closed Monday’s session at VND18,750 ($0.79).

Source: The Investor

Source: https://e.nhipcaudautu.vn/companies/eximbank-forecasts-212-mln-profit-in-2023-3351414/

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