Connect with us


Vissan IPO attracts 142 investors



HA NOI — More than 140 investors from local and overseas markets will participate in the initial public offering (IPO) of the Viet Nam Meat Industries Limited Company (Vissan) on March 7.

Vissan will sell more than 11.3 million shares at the IPO, with a starting price of VND17,000 each. The company expects to earn at least VND192 billion (US$8.5 million) from the IPO.

The 142 investors comprise 123 local individuals, six local companies, six foreign individuals, and seven foreign firms. They have registered to buy 63.6 million shares at the IPO, more than five times the number of shares offered by Vissan.

A Vissan worker checking pork. The company's IPO will be held on March 7. — VNA/VNS Photo Thanh Vu

A Vissan worker checking pork. The company’s IPO will be held on March 7. — VNA/VNS Photo Thanh Vu

The number of shares being offered at the IPO is equal to 14 per cent of the company’s capital after privatisation, which is expected to reach VND809 billion.

Vissan will sell the shares to only three investors at the coming IPO, so that they become the company’s strategic investors.

According to Vissan, a strategic investor should have equity of VND1 trillion as of the end of 2015, should not have suffered any losses during the 2012-14 period, and should not have suffered any accumulated loss as of the end of September 2015.

A strategic investor should also have had at least five years of operations experience, working in the same industries as Vissan, and be capable of working with Vissan to create a food chain called 3F (Feed-Farm-Food) to provide safe food to consumers.

Investor concerns

Vissan’s Director General, Van Duc Muoi, has said that investors may not be happy because the State may remain the major shareholder with an ownership of 65 per cent of the company after privatisation is complete.

The State is to remain the major shareholder of Vissan in the near future because the company has a very important role in HCM City in stabilising the food market, especially the sectors of fresh meat and processed food.

Organisation investors have raised concerns that they will face strong competition from two big companies, including the local food and beverage producer Masan Group and the South Korea-based CJ Corporation.

Investors are also concerned that it will be difficult for them to express their strategic role, since Vissan offers a very small number of shares reflecting a small percentage of the company’s capital. Plus, the company has not provided a detailed plan for future privatisation.

Muoi, Vissan’s general director, has said that investors will have opportunities to increase their financial investments in the company as the State’s ownership in Vissan will be reduced to below 51 per cent soon.

Local media reported that early in 2015, the privatisation of Vissan drew the attention of the South Korea-based CJ Corporation, which operates in multiple industries, including food and food services, pharmaceuticals and biotechnology, entertainment and media, and home shopping and logistics.

CJ Corporation plans to improve Vissan’s brand, not only in the domestic market but also abroad, if it becomes one of Vissan’s three strategic investors.

Vissan is now one of Viet Nam’s leading corporations in the production of food, fresh meat, frozen meat, and meat products. Vissan was founded in 1970 as a subsidiary of the State-owned Sai Gon Trading Corporation (SATRA). — VNS


National Wheelchair Tennis Championships to start in Hà Nội



The Việt Nam Tennis Federation gave wheelchairs to athletes with disabilities in HCM City to prepare for the National Wheelchair Tennis Championships. — Photo courtesy of VTF

HÀ NỘI — The National Wheelchair Tennis Championships takes place in Hà Nội on December 1.

Independent participants as well as players from units and member clubs of the Việt Nam Tennis Federation (VTF) will take part in the event.

Athletes will compete in four events, men’s and women’s singles and men’s and women’s doubles.

This is the first time the VTF has cooperated with the International Tennis Federation (ITF) to organise the Vietnamese national wheelchair tennis event.

The tournament will apply the wheelchair tennis rules issued by the International Tennis Federation. The only difference between wheelchair tennis and regular tennis is that the ball can bounce off the court twice. The second bounce off the court is allowed outside the touch-line.

This event aims to create a useful playground, helping athletes with disabilities have the opportunity to gain experience, hone competitive skills and accumulate points.

In addition to trophies and bonuses, winners will have the opportunity to gain bonus points, including 60 points for the first place, 40 points for second place and 20 points for third place.

Following this event, the best athletes will also be selected to the national wheelchair tennis team to prepare for the ASEAN Para Games which will take place on June 3-9, 2023 in Phnom Penh, Cambodia.

Wheelchair tennis is widely played in many countries around the world. In addition to competing in Grand Slam tournaments, wheelchair tennis is also one of the sports competed at the summer Olympics for the disabled.

Wheelchair tennis is no longer a strange sport for Vietnamese athletes with disabilities. However, until now, most of the disabled athletes who are passionate about this sport only focus on small group activities.

With the spirit of social responsibility and the desire to create more opportunities to participate in sports activities and affirm the personal efforts of people with disabilities, the VTF with the support from the ITF gave 10 wheelchairs to athletes with disabilities in Thái Nguyên City and HCM City. VNS


Continue Reading


The most technologically advanced World Cup ever



Minh Nguyễn

Minh Nguyễn

This year’s World Cup has been known for several unique traits that have never occurred before. For starters, it is in winter instead of the traditional summer. It is also the most expensive World Cup ever, with a estimated bill of around US$220 billion, the ban of alcohol and more. However, not everything about the tournament this year is controversial. It has introduced to us some of the most advanced technology the sport has ever seen. So I thought I’d use the opportunity to get technical! 

The Al Rihla ball. Photo courtesy of Adidas

 The Al Rihla ball

The 2022 World Cup’s ball is absolutely unique. Its leather has an Inertial Measurement Unit sensor which can detect the exact moment the ball is hit, without negatively affecting the performance. It is utilised with the 12 cameras placed in various places across the stadium in order to provide all the necessary info to the referees and managers. Indeed, the data not only helps the officials, but also aids the coaches on their players as well as the opponents.

Semi-automated offside

Normally with the use of VAR, the video team still has to spend a little time re-watching the footage so as to determine if the play has been offside or not. Nevertheless, the aforementioned Al Rihla ball as well as the camera system will alert the VAR team automatically about the offside decision, which will allow the decisions to be made more quickly and precisely. This system has been successfully tested at some of the previous FIFA tournaments, including the Arab Cup and the Club World Cup, both in 2021. However, this technology still sparked some controversies in some of the matches so far, including the first disallowed goal from Ecuador in the opening match.


How the semi-automated offside is portrayed in 3D

Better experience for fans

FIFA has introduced a mobile app which enables fans to track every single player’s statistics in the tournament. This is very convenient for us as we don’t have to search for a different website to check our favorite players. Moreover, we can see these numbers anywhere as we always bring our smartphones along.

Broadcasting has also become more and more advanced through the years, as the number of TV channels and websites that offer us World Cup experiences have increased by a large number compared to the previous tournaments. Additionally, the quality of the broadcast has also improved a lot, with 4K being the norm these days.

Enhanced security for fans at the stadium

Safety for supporters has always been a great concern for every major tournament. With the aim of guaranteeing this issue, the board has installed an estimated 15,000 cameras with facial recognition in order to identify any wrongdoers, as well as to prevent terrorism, which has been a concern for a long time in the Middle East.

So there you have it. The World Cup organisation has so far raised a few eyebrows to say the least. But one thing’s for sure, it is the most high-tech tournament the game has ever seen. VNS



Continue Reading


Star basketball player on personal motivation to learn Vietnamese



Tim Waale – the captain of professional basketball club Saigon Heat – recently discussed his motivation to learn Vietnamese on his Instagram account.

Waale, also known as Dinh Khai Tam, answered a fan’s question about why he was unable to speak Vietnamese fluently despite growing up in Vietnam.

He has a Vietnamese mother and a Danish father. He lived in Vietnam before relocating to Denmark when he was in high school.

“I went to international schools when I was a kid and only spoke English,” Waale explained.

“I also talked to my parents in English at home.

“My mother tried to teach me Vietnamese, but I was too lazy to learn.”

The 24-year-old player said he later regretted it when he was unable to communicate with his grandparents when visiting them in northern Thai Nguyen Province during the Lunar New Year holiday.

“Even though I was never able to talk to my grandmother again after she passed away, I was determined to learn Vietnamese,” he said.

Tim Waale shares his motivation to learn Vietnamese on his Instagram account. Photo: VBA

Tim Waale shares his motivation to learn Vietnamese on his Instagram account. Photo: VBA

Tuan Anh, the fan who asked Waale the question, thanked the player for his answer, saying that it is never too late to learn something.

“I really hope that you will be in the Vietnamese national basketball team one day. Good luck, Tim.”

Another fan said he will communicate with Waale in Vietnamese more often to help him practice.

Waale has participated in the VBA pro basketball league since its first season in 2016.

The 1.93-meter-tall player and other members of Saigon Heat won the championship title in three consecutive seasons in 2019, 2020, and 2022.

He is widely considered one of the best athletes in the league and won the Block of the Year title at the VBA 2022.

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


Continue Reading