Connect with us

Business

UOB facilitates Singaporean firms’ investment in Vietnam

Published

on

Representatives of UOB and the Singapore Business Federation at the strategic partnership agreement signing ceremony – PHOTO: UOB

HCMC – Singapore’s United Overseas Bank Limited (UOB) is stepping up efforts to help more companies in Singapore seize cross-border business opportunities in the ASEAN, especially in Indonesia, Thailand and Vietnam.

The bank on February 22 signed a strategic partnership agreement with the Singapore Business Federation (SBF) to be the chosen financial partner of the [email protected] Strategic Partnerships initiative.

The collaboration combines the strengths of UOB and SBF in connecting Singapore businesses, including more than 27,000 SBF members, to opportunities opening up across the ASEAN.

Wee Ee Cheong, deputy chairman and chief executive officer of UOB, said, “Having weathered the worst of the Covid-19 pandemic, companies are now looking for growth and expansion opportunities. One of the most compelling opportunities is where UOB has the strongest presence – ASEAN – with its fast-growing economy and vast potential.

UOB has long recognized the region’s long-term strengths and uniqueness with its diverse economic landscape.

A company that UOB has supported in its overseas expansion is the Dou Yee Group, a Singapore-headquartered manufacturing firm with a presence in 26 markets, including Vietnam. Dou Yee is tapping UOB’s deep market knowledge and customized financial solutions to expand its manufacturing operations in Vietnam.

UOB will continue to offer Dou Yee its support by connecting the company to potential buyers, suppliers and distributors along its value chain and to opportunities arising from ASEAN’s sustainability drive.

Source: https://english.thesaigontimes.vn/80646/uob-facilitates-singaporean-firms%e2%80%99-investment-in-vietnam-.html

Business

Mộc Châu Milk target highest ever profit and revenue

Published

on

Nguyễn Thạch Lỏi, an employee of Mộc Châu Milk, takes care of cows. Mộc Châu Milk plans to achieve revenue of VNĐ3 trillion this year, an increase of 8.6 per cent year-on-year. Photo Mộc Châu Milk

HÀ NỘI — Mộc Châu Dairy Cattle Breeding Joint Stock Company (Mộc Châu Milk) plans to achieve revenue of VNĐ3 trillion this year, an increase of 8.6 per cent year-on-year, the company announced.

After-tax profit is set at VNĐ318.5 billion, up 13.5 per cent compared to 2020. With this goal, Mộc Châu Milk is expected to bring 2021 business results towards a new record.

With the profit plan, the company is expected to pay dividend of 20 per cent, 5 per cent lower than 2020.

As for the results of 2020, the company earned revenue of VNĐ2.8 trillion and after-tax profit of VNĐ280.7 billion, up by 10.3 per cent and 68.2 per cent respectively compared to 2019.

It had submitted to shareholders a plan to adjust business lines to meet the conditions allowing foreign investors to own up to 100 per cent of the charter capital, at the same time, abolishing the business lines that the company is not currently involved in.

The enterprise will submit to shareholders the plan to cut the business lines in the import and export of raw materials, animal feed, equipment and machinery, spare parts, flavourings and dairy products, and packaging of animal husbandry and processing, trading electronic scales, tea growing activity and short-stay services.

The company’s 2021 General Meeting of Shareholders is scheduled to be held on March 20, 2021.

As of the end of last year, Mộc Châu Milk’s total assets increased by 14 per cent to VNĐ1.2 trillion, in which assets, mainly money and short-term financial investments, reached VNĐ632.6 billion, accounting for 51.7 per cent of total assets.

Inventories reached VNĐ204.5 billion, accounting for 16.7 per cent of total assets. Short-term receivables reached VNĐ145.4 billion, accounting for 11.9 per cent of total assets. —

Source: https://vietnamnews.vn/economy/891264/moc-chau-milk-target-highest-ever-profit-and-revenue.html

Continue Reading

Business

Danang calls for investment in 10 projects in next five years

Published

on

Tien Sa Port in Danang City. The city wants to call for investment in Lien Chieu Port and make the Tien Sa Port the cruise port – PHOTO: NHAN TAM

DANANG – The central coastal city of Danang has put forth 10 investment projects in the transport, infrastructure and logistics sectors to call for investment in the next five years.

Six of the projects have had their scales determined, with a combined investment capital of more than VND100 trillion, while the four remaining projects depend on proposals from investors.

The project of building the city subway system will be the largest, with an amount up to VND54.5 trillion. The city wants to call for investment into this massive project under the Public – Private Partnership (PPP) mode.

The system will follow two directions. One of them is on the East-West way, connecting the Nam O region in the Northwest, adjacent to Hai Van Pass, going through the downtown area to the An Hai Dong area (My Khe beach).

Meanwhile, on the North-South way, the subway will start from the Son Tra Tinh Vien area (in Son Tra peninsula) to the vicinity of Danang airport.

Reportedly, in the Northwest region, there are many large investment projects, including Japan’s Mikazuki hospitality complex and new residential areas named Golden Bay, Thuy Tu, Golden Hills and the cluster of the Danang High-tech Park and the Information Technology Park.

In addition, Danang is also calling for investment for Lien Chieu Port in this area. This project has a total investment capital of nearly VND7,400 billion (including State and private investment), developing two initial berths, capable of receiving general ships, bulk cargo with 100,000 tons and container ships from 6,000 to 8,000 TEUs, ensuring throughput of goods from 3.5 to 5.0 million tons a year.

When these projects are constructed synchronously, they will be the driving force for Danang’s economic development in the Northwest region.

Among the 10 projects, there are also some prominent projects such as the railway station relocation and urban development project worth VND12,636 billion and the tunnel going through the Danang airport with a capital of VND8,228 billion, from the city budget, PPP and ODA.

These 10 projects are among the list of 57 key projects to attract investment in Danang City in the 2020-2025 period, adjusted and approved by the local government.

Source: https://english.thesaigontimes.vn/80759/danang-calls-for-investment-in-10-projects-in-next-five-years.html

Continue Reading

Business

Investor proposes speeding up work on VND4.8-trillion road at HCMC’s airport

Published

on

Traffic congestion is seen on Truong Son Street, a key road leading to Tan Son Nhat International Airport in HCMC. The HCMC Management Board of Investment and Construction of Traffic Projects has proposed speeding up the site clearance process of a projected road leading to the airport – PHOTO: LE ANH

HCMC – The HCMC Management Board of Investment and Construction of Traffic Projects, the investor of a road project which requires a total investment of VND4.8 trillion around Tan Son Nhat International Airport in HCMC, has proposed speeding up the site clearance process to start work on the project at the end of the year.

The management board said in its report sent to the HCMC government that the projected road connecting Tran Quoc Hoan Street with Cong Hoa Street in Tan Binh District should get off the ground in December. The construction of the project will be completed 18 months later at the same time as the completion of the third passenger terminal of the airport, or Terminal T3.

Once in place, the road, which will be 29-48 meters wide, have six lanes and comprise two tunnels and an overpass leading to Terminal T3, will help ease traffic congestion on the other roads leading to the airport.

To put the road project into service as soon as possible, the investor proposed expediting some jobs related to the project, including appraising its feasibility study report, handing over military land and selecting contractors.

The process of construction depends on land recall, compensation and site clearance works, said the investor.

The road project was proposed for construction by the municipal Department of Transport in 2016 to reduce traffic gridlock in the airport area, the local media reported.

Source: https://english.thesaigontimes.vn/80754/investor-proposes-speeding-up-work-on-vnd48-trillion-road-at-hcmc%e2%80%99s-airport.html

Continue Reading

Trending