Connect with us

Business

South Korean brokerages on the way to dominate the market

Published

on

 

A trading room at KIS Việt Nam Securities Co. — VNA/ Photo Trần Việt

HÀ NỘI — After recent merger and acquisition (M&A) deals, South Korea-owned securities firms are expanding their influence on the Vietnamese stock market.

On September 17, Asam Asset Management completed acquiring 65 per cent of capital at SJC Securities for VNĐ6,000 per share.

The South Korean firm was estimated to have spent VNĐ80 billion on the share purchase, which then helped it hold 80 per cent of capital at the local firm.

After the deal, the number of South Korea-invested securities firms in Việt Nam reached eight – half of all active foreign brokerages in Việt Nam.

Of the top 10 brokerages with the largest charter capital in Việt Nam, three come from South Korea – Mirae Asset, KIS Việt Nam and KBSV.

These three companies have charter capital of VNĐ5.45 trillion (US$236.8 million), VNĐ2.6 trillion and VNĐ1.67 trillion, respectively. Mirae Asset is also the second-largest brokerage by charter capital after the Vietnamese firm SSI Securities.

Other South Korea-owned securities firms are mulling capital hikes such as JB Việt Nam and Shinhan Việt Nam to increase their impact on the local market, sources told Đầu tư (Investment) newspaper.

Those three firms have also made big improvements in the ranking of top brokerages with the largest stock-broking market shares in 2019-20.

According to market regulators, the penetration of South Korean businesses has helped restructure the market, removing companies that are weak and insufficient.

Low lending rates

The abundance of capital based on low-interest loans has helped those firms offer lower margin lending rates to investors, thus gradually winning the market shares from local companies.

As of the end of the third quarter, total outstanding loans – comprising of margin lending and borrowing – was up 19 per cent quarterly and 33 per cent annually to VNĐ66 trillion and the South Korean firms are increasing their shares, a report by tinnhanhchungkhoan.vn showed.

Mirae Asset, KIS Việt Nam and KBSV have loaned out a total VNĐ9.67 trillion, VNĐ3.85 trillion and VNĐ2.64 trillion, respectively. Those companies are among the 10 biggest lenders on the securities market with Mirae Asset taking the top spot.

The availability of cash provided by South Korean firms has helped trim the market’s average margin lending interest rate in 2020 to 10-12 per cent per annum from 13-15 per cent per annum in previous years.

In addition, Việt Nam-focused securities firms have been encouraged to offer incentives to investors, which include a 5-9 per cent average lending interest rate for VIP clients and a 0-0.25 per cent trading fee range.

It is obvious low margin lending and trading fee rates will remain key to the competitiveness of securities firms, especially when the spread of the coronavirus has had a negative impact on the local economy, the business community and bank lending rates.

Banks’ low interest rates have encouraged more people to activate their trading accounts and spend more money buying and selling shares on expectations of high returns. A total of 253,000 new accounts have been opened so far compared to a total of 64,000 accounts opened in 2019.

According to specialists, the appearance of large-cap corporations such as Samsung, CJ and Shinhan has driven South Korean financial firms to move to Việt Nam to provide low-cost financial solutions for the market.

In addition, there is still room for improvement for the Vietnamese securities market. South Korean investors have recently poured hundreds of millions of dollars into domestic companies such as Vingroup, Masan and the Joint Stock Commercial Bank for Investment and Development of Việt Nam (BIDV).

The positive outlook of the Vietnamese economy, bolstered by the trade agreements signed with other countries and economic blocs, has also attracted South Korean investors.

Moreover, Việt Nam is now known as the superstar of the world when dealing with the COVID-19 pandemic while keeping the economy propelling to rise among the best-performing economies this year.

Future plans

Mirae Asset Việt Nam’s CEO Kang Moon Kyung said that the company would promote investment banking (IB) and proprietary investment (PI) in the short term.

Mirae Asset would look for opportunities in share and bond trading, and increase the trading of other securities products such as covered warrant, derivatives and exchange-traded fund (ETF) certificate.

KIS Việt Nam would enhance its individual services and bond issuance consultancy, the company’s CEO Park Won Sang said.

Meanwhile, KBSV Securities would keep introducing Vietnamese assets to the international market, including South Korea and Hong Kong. JB Financial Group is planning to promote the trading of real estate and infrastructure projects for South Korean investors, back Vietnamese firms to issue bonds and shares, and expand the influence in M&A activities. —

Source: https://vietnamnews.vn/economy/834784/south-korean-brokerages-on-the-way-to-dominate-the-market.html

Business

C.T. Group honored as one of the best companies to work for in Asia

Real estate developer C.T. Group received the annual HR Asia Award for being one of the best companies to work in Asia at a ceremony held in HCM City on August 11.

Published

on

The prestigious award of “Best Companies to Work for in Asia” was presented by the continent’s leading magazine – HR Asia.

This is the second time CT Group has received this prestigious award and the first time that this Corp has surpassed nearly 600 “competitors” in Vietnam to achieve the highest score at 4.68/5 points (94%).

This score is 25% higher than the average score of businesses competing across Asia in 2022 and far from the average score of Vietnam, according to the property developer.

Achieving the position that many businesses across the continent aim for is not easy since the list of “Asia’s Best Places to Work” is selected through an extremely rigorous evaluation process.

The evaluation was made according to the TEAM (Total Engagement Assessment Model) model which is based on a set of criteria including Core, Self, Group applied to major human resource markets in Asia.

Accordingly, CORE (Collective Organization for Real Engagement) assesses culture, discipline, management capacity, leadership, and agile initiatives; SELF (Heart, Mind, Soul) assesses the level of cohesion, pride, and emotion at work; and GROUP (Think, Feel, Do) measure the level of cooperation of members with businesses.

“CT Group is extremely proud to become one of the Enterprises with a fantastic working environment in Asia 2022,” said Ms. Nguyen Thi Tien Phuong Deputy Director – Community Human Resources Department of CT Group during the honoring ceremony.

“Our group is the center of human development with a way of wisdom, dignity, skills and lifestyles. In addition, to economic development for common prosperity for all members and their families. “360-degree policy” – is a policy that cares for the development of physical and spiritual life in all aspects.”

On the 30th anniversary of the Corporation’s establishment, CT group has awarded an attractive ESOP stock bonus, even a chauffeur received ESOP stock shares which were equal to VND10 billion, life insurance – Lifetime insurance with preferential rates to billions of Vietnam dong.

The market is always impressed with the team that rewards cars for employees annually, everyone is happy in an open and especially loving environment.

At work, employees also have the opportunity for physical training, improve health and feel a positive life. In addition, CT Group regularly organizes entertainment activities, social participation, tourism, and vacation every year. Moreover, the journey of CT Group Caravan is one of the important pieces to building the corporate culture of the Group.

CT Group is the door to access science and technology from the world and enter the future 4.0 of humanity. Photo: CT Group
CT Group is the door to access science and technology from the world and enter the future 4.0 of humanity. Photo: CT Group

The activity was inspired by the program of West Point Military Academy (USA), which trained many leaders globally. If you like the community service activities, the CT group is an opportunity for all of you to join hands to contact the community right away, the honest poor, the weak in society, because the core value of CT group is a corporation for the community right from the early days of its establishment.

For young people who love hi-tech, CT group is the door to access science and technology from the world and enter the future 4.0 of humanity. The catchphrase from veteran employees:” CT group is a place where an ordinary employee can become great people”.

After 3 decades of establishment and development, with the second 30-year plan, CT group aims to add resources up to 25,000 by 2025, CT Group is attracting many outstanding talents not only in domestic but also all over the world, from foreigners to expatriates with knowledge, overseas talents, those from many different fields such as High Technology (Cell Tech, Fintech, AI, Protech, Flytech, Clean Energy ) finance, construction, sales – marketing, … to contribute to diversifying the staff network, serving the strategy of technological transformation with a scale spread throughout the Group including 50 companies members and work offices in many countries around the world.

For the second time being honored as “Asia’s Best Place to Work”, CT Group not only once again affirms its position but also prepares strongly for the upcoming global integration, becoming more and more “classic, quality, difference” in creating an ideal and desirable working environment for the community.

Source: https://e.nhipcaudautu.vn/companies/ct-group-honored-as-one-of-the-best-companies-to-work-for-in-asia-3347269/

Continue Reading

Business

Vietnam ready for talks with US on tax evasion investigation into Vietnamese steel pipes

Published

on

Vietnam is willing to hold trade talks with the United States to timely solve arising problems regarding a U.S. anti-circumvention investigation into steel pipe products imported from the Southeast Asian country. 

Le Thi Thu Hang, spokesperson of the Vietnamese Ministry of Foreign Affairs, made the statement at a regular press briefing in Hanoi on Thursday following reports that the U.S. officially initiated an investigation into the case.

Hang affirmed that the Vietnam-U.S. comprehensive partnership has witnessed progress in all fields in recent times, including in economy, trade, and investment. 

Vietnam is the leading trade partner of the U.S. in Southeast Asia, while the U.S. is the second-largest trade partner of Vietnam, with two-way trade turnover exceeding US$110 billion in 2021.

“Vietnam advocates promoting economic, trade, and investment cooperation with the U.S. on the basis of freedom, fairness, and mutual benefits in accordance with bilateral agreements and regulations of the International Trade Organization (WTO),” she said.

“Vietnam is willing to exchange with the U.S. through existing mechanisms such as the Trade and Investment Framework Agreement (TIFA) to promptly solve arising problems and strengthen economic, trade, and investment relations for the interests of businesses and people of the two countries.”

In their lawsuit filed in May, major U.S. steel pipe manufacturers, namely Nucor Corporation, Bull Moose Tube, and Maruichi Steel Corporation, accused Vietnam of importing hot rolled steel (HRS), the main raw material used to produce steel pipes, from several countries, including China, for processing steel pipes to be exported to the U.S..

By doing so, the said Vietnamese exporters try to evade the respective trade remedy tax that the U.S. is levying on several countries, including China, according to the lawsuit.

The U.S. Department of Commerce recently decided to officially initiate a probe into the case.

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

Source: https://tuoitrenews.vn/news/business/20220812/vietnam-ready-for-talks-with-us-on-tax-evasion-investigation-into-vietnamese-steel-pipes/68565.html

Continue Reading

Business

Masan Group honored in Top 50 Corporate Sustainability Awards 2022

During the Sustainable Development “Good for business, Good for planet” Conference held by Nhip Cau Dau Tu magazine on Wednesday, Masan Group was honored in the Top 50 Corporate Sustainability Awards 2022.

Published

on

This award aims to promote the sustainable development trend spreading among the business community and Vietnamese society and honor businesses that typically implement sustainable development strategies and adopt commitments for green growth and community responsibilities.

Top 50 Corporate Sustainability Enterprises 2022 were evaluated and voted based on five main assessment criteria: Stable growth, Sustainable corporate culture, Corporate governance, Environment protection, and Social responsibility. The judicial panel is reputable international and local experts.

Honoring green businesses, serving the community

Recently, awareness development towards systemic issues including climate change, diseases, natural resource depletion, and gender inequality has promoted investment trends following ESG criteria or sustainable investment in the region. Recognizing this importance, the Government signed Decision No. 167/QD-TTg approving the “Program to support private business sector in sustainable development period 2022 – 2025”.

The program aims to raise awareness of the private sector business community’s role and the importance of sustainable business.

Along with business, sustainable development is a key pillar of Masan’s strategy. Masan’s sustainability initiatives are focused on bringing value to social life and contributing to local communities.

WinMartWinMart+ conducts several promotions to form green consumption habits. Photo: Masan
WinMartWinMart+ conducts several promotions to form green consumption habits. Photo: Masan

Masan Group has continuously been researching and leading utility trends to improve Vietnamese material and spiritual lives and contribute to the country’s overall development.

The Vietnamese private conglomerate was recently honored in the Top 50 listed companies in 2022 held by Forbes Vietnam Magazine, for ten consecutive years. And Top 10 at Vietnam Top 50 Public Companies (VIX50) conducted by Vietnam Report.

This is the best result of Masan’s ceaseless efforts in the journey of serving our consumers and developing businesses in parallel with sustainable development. At the same time, it is the motivation for Masan constantly creates more and more quality products and services, contributing to the general development of the community, society, and the country.

Masan’s sustainable development journey

Since the early days of Masan’s establishment, community development and social responsibility have been among its sustainable development goals. Masan Group, Vietnam’s leading consumer-focused business group, believes in “Doing well by doing good” when serving the daily essential needs of consumers. Community initiatives are an essential part of its mission to improve the lives of nearly 100 million Vietnamese consumers.

The largest modern retailer with nearly 3,000 WinMart/WinMart+ supermarket and mini-marts – WinCommerce always upheld the spirit of Vietnamese people using domestic goods and keeping the retail sector for Vietnamese people.

As a result, Vietnamese goods make up 90% of products sold in the system. MEATDeli produces meat products with European standards and provides world-class animal protein for Vietnamese consumers.

Along with that, Masan Consumer also preserves and brings Vietnamese culinary culture to the world through familiar brands of fish sauce, soy sauce, instant noodles, chili sauce, etc. At the same time, it encourages Vietnamese manufacturers to upgrade to international standards and enhances the competitiveness of domestic goods.

Masan sponsors eye surgery for people in Binh Thuan province. Photo: Masan
Masan sponsors eye surgery for people in Binh Thuan province. Photo: Masan

Masan High-Tech Materials (MHT), the world’s leading manufacturer of high-tech tungsten metal powders and tungsten carbide (mid-stream tungsten products), always focuses on environmental protection and sustainable development. With the potential of the state-of-the-art mining and processing technology, constant innovation, research, and development of products, over the years.

Masan High-Tech Materials demonstrates sustainable and responsible mining practices complying with leading international standards, ensuring minimization of resource losses and optimization of the value of natural resources, with a mineral recovery rate of over 96%. Besides, MHT also brings outstanding contributions to Vietnam’s economy, society, and sustainable livelihoods for thousands of local workers.

In 2021, Masan Group contributed nearly VND 5,450 billion to the State budget. Since 2021, the Group has contributed more than VND 500 billion to activities to support local residents and frontline workers in the fight against the Covid-19 epidemic and to implement various community health and social security projects.

Recently, the Group sponsored eye surgery for 1,000 people in 2 provinces of Binh Thuan and Kien Giang and donated to the Ho Chi Minh City “For the national sea and islands – For the fatherland frontline” Fund 2022. 

Source: https://e.nhipcaudautu.vn/companies/masan-group-honored-in-top-50-corporate-sustainability-awards-2022-3347253/

Continue Reading

Trending