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Vietnam NewsTrading value on both bourses surges over 20pct Closing the trading session on February 7, the VN Index of Hochiminh Stock Exchange (STC) regained the 400 point threshold after continuously gaining and losing points during the trading session. Business Briefs February 07 * Gia Lai Power Joint Stock Co. has registered to buy over 617,000 shares ofTay Nguyen Electricity Investment Co. (TIC) to bring up its ownership from 53.9 percent to 56 percent. More than 85 firms post losses in Q4 Many companies have announced their business results of the holding company and the consolidated figures for the fourth quarter of 2011. SBS posts record net loss of 610b dong in 2011 Saigon Thuong Tin Bank Securities Joint Stock Co (Sacombank-SBS) has recently announced the business results of the holding company for the fourth quarter of 2011 with over 144 billion dong revenue, mainly from self-trading activities. Banks syndicate $7.2m for VNA's project PetroVietnam Finance Joint Stock Corp (PVFC-coded PVF) and Cathay United Bank (CUB) on Monday February 6 signed a credit contract worth $7.2 million in Hanoi to finance for Vietnam Airlines-VNA, the national flag carrier. SBV to withdraw nearly 69tr dong in week between Feb 6 and 10 In two weeks prior to Lunar New Year (Tet) holiday between January 9 and 20, 2012, the State Bank of Vietnam (SBV) made a net injection of nearly 85.3 trillion dong on open market operations (OMO) Commercial banks launch promotion programmes to woo customers Lucky draw, valuable gifts and the like are among promotion programmes launched by commercial banks in the early year with a view to keep customers. At least 5 banks to merge in first months of this year Between five and eight commercial banks are expected to merge in the first months of 2012. Asia markets mixed; Japan, China slide Asia stocks traded mostly higher Tuesday with strength for some property and defensive stocks, while stocks in Japan and China slid. AsianBondsOnline News Highlights - Week of 30 January - 3 February 2012 Consumer price inflation moderated in Indonesia, the Republic of Korea, and Thailand on a year-on-year (y-o-y) basis, while accelerating on a month-on-month level. Doing Business in Indonesia 2012 - WB report Overview: Doing Business in Indonesia 2012 is the second subnational report of the Doing Business series in Indonesia. China fancies female bodyguards (video) They may be smaller than their male counterparts, but these women are no pushovers. Taiwanese celebrate year of the dragon by launching paper lanterns into the sky (video) Thousands of glowing, paper lanterns lit up the sky in New Taipei City to help celebrate the year of the dragon. VNL's profit up 22 pct at 28.8b in 2011 Freight Forwarding and Trading Joint Stock Co (coded VNL) has recently announced its financial statement for the fourth quarter of 2011 with over 116 billion dong net revenue, up 20 percent from the same period last year and consolidated profit up 91 percent to reach over 3.5 billion dong. Vinacomin to exploit over 4m tonnes of coal in Feb Vietnam National Coal and Minerals Industries Group (Vinacomin) has recently said that the group plans to produce 4.4 million tonnes of coal and coal consumption would be at four million tonnes in February 2012. EVN needs $5b/yr for electricity project development Electricity of Vietnam (EVN) has lately said that in the next five years, the group needs up to 514 trillion dong (nearly $25 billion) to develop electricity projects. 630,000 international tourists visit Vietnam in Jan Figures from General Statistical Office (GSO) have showed that the total number of international visitors coming to Vietnam in January 2012 increased up to 24.8 percent from the same period last year. Asian marts higher on improved sentiment Asian markets mostly rose yesterday Monday February 06, tracking gains on Wall Street after strong US jobs data but worries about Greece's unresolved debt crisis - and default fears - weighed on markets and the euro. Burma poll a 'key test' of reform: UN envoy A top United Nations envoy on Sunday hailed dramatic changes in Myanmar but said by-elections would be a "key test" of the army-backed regime's commitment to reform. Indonesia joins global nuclear test ban treaty Indonesia on Monday formalised ratification of the nuclear test ban treaty at the United Nations and its foreign minister called on eight key holdout nations to take a "calculated risk" and sign on. China bans airlines from paying EU carbon charges China said Monday it has banned its airlines from complying with an EU scheme to impose charges on carbon emissions opposed by more than two dozen countries including India, Russia and the United States. 'Farmers' rights flouted by land grabs', says Wen China has failed to give farmers adequate protection from arbitrary seizures of land, Premier Wen Jiabao said in comments published on Sunday in which he acknowledged that the resulting discontent is fanning protests. Japan's car manufacturers aim to roar back Stunned at the loss of their pre-eminence in global sales, Japan's car makers are looking to drum up new interest with a number of new releases. Philippine rescuers search for quake survivors Rescuers were fanning out across the central Philippines Tuesday after a powerful earthquake triggered landslides, collapsed homes and killed dozens of people. Indonesia to try Bali bomber mastermind suspect The alleged mastermind behind Indonesia's deadliest terrorist attack that killed more than 200 people in Bali a decade ago will likely stand trial next week, a prosecutor said Monday. 'Oldest marathon runner' competes in HK? A 100-year-old British Indian man who claims to be the world's oldest marathoner was all smiles after completing a 10km run at the Hong Kong marathon on Sunday. Use of Twitter stokes row at Khmer Rouge court Controversial tweets by a Khmer Rouge tribunal judge have inflamed a damaging public spat between the UN and Cambodia and raised questions over how Twitter is used in the courts. HK people in feud with 'mainlanders' A bitter family feud between Hong Kongers and their northern neighbours sparked by mainland China's increasing financial and political clout has led to an awkward debate about the former British colony's identity. $7.64 billion liquidity support for Tet won't boost inflation: Cbank The VND160 trillion ($7.64 billion) supplied by the central bank for liquidity support before the Lunar New Year (Tet) holiday will not cause any impact on inflation, said a central bank's official. FAO helps Thua Thien-Hue in sea-based economy The Food and Agriculture Organisation (FAO) will provide over 495,000 USD for extending a project to help develop the sea-based economy in the central province of Thua Thien-Hue. Israeli firms promote business in Vietnam Israel 's businesses want to invest in Vietnam, according to the Asia Pacific Market Department under the Ministry of Industry and Trade. PM calls for securing single digit inflation Prime minister Nguyen Tan Dung laid stress on controlling inflation at a single digit as one of urgent tasks to be drastically addressed to help the country maintain a reasonable growth of around 6 percent for the whole year. Ministry promotes trade with Germany While Germany is already the most important market in the European Union for Vietnamese exports, there's still huge potential for further increasing exports to Germany, said Do Thang Hai, head of the Ministry of Industry and Trade (MoIT)'s Trade Promotion Department. 2,300 Vietnamese going to work in RoK The first batch of 2,300 Vietnamese labourers has been recruited by the Republic of Korea' employers, according to Phan Van Minh, director of the Overseas Labour Centre, under the Ministry of Labour, Invalids and Social Affairs. Vietnam's 5-Year Bond Yields Fall to Lowest Level Since October Vietnamese bonds advanced, pushing benchmark five-year yields to the lowest since October, on speculation demand will improve as debt redemptions boost cash in the financial system. The dong strengthened. Ex-Im Bank Chair in Vietnam to Promote Closure of Nearly $1.5 Billion in Critical Infrastructure Projects Fred P. Hochberg, chair and president of Export-Import Bank of the United States, will meet with government leaders in both Ho Chi Minh and Hanoi to boost commercial ties and business opportunities between the United States and Vietnam. Stable exchange rate promised Industry insiders are expecting a more stable dong-dollar exchange rate and stricter dollar lending in 2012. Vietnam Central Bank Targets Lower Interest Rates; Steadier Exchange Rates in 2012 The State Bank of Vietnam (SBV) targeted lower interest rates, more stable exchange rates, lower inflation and stronger control over the local gold market this year, Governor of the SBV, Nguyen Van Binh, told the Vietnam News Agency. HSBC Vietnam launches mobile banking service HSBC Bank (Vietnam) Ltd (HSBC Vietnam) is making banking even more convenient with the introduction of its new Mobile Banking service. State bank to submit gold plan The State Bank of Vietnam (SBV) is ready to submit to the government a scheme on mobilising gold from citizens, said Governor Nguyen Van Binh in an interview with the Vietnam News Agency. Vietnam Central Bank Net Withdraws Nearly 57tr dong on OMO in Week Ending February 3 The State Bank of Vietnam (SBV) net withdrew VND56.843 trillion from commercial banks through open market operations (OMO) from January 30 to February 3, compared to the net injection of VND32.416 trillion in the week ending January 20, the local newswire NDHMoney.vn reported, citing Reuters' data. February 6: Vietnam Central Bank Keeps Dollar Exchange At 20,828 dong Vietnam's central bank set the U.S dollar exchange rate at VND20.828 on Monday, unchanged since December 26, 2011. February 6: Vietnam Gold Rises to 45.12m dong/Tael, Dollar Stable Vietnam gold prices rose by VND0.47million/tael from yesterday close to VND45.12 million a tael on Monday morning. Vietnam's Card Market Needs A Push To Develop Experts have pointed out that a breakthrough policy is needed to help develop the non-cash payment in Vietnam. UPDATE 2-Vietnam Cuts Reserve Levels To Lift Agriculture Loans Vietnam's central bank on Friday cut the compulsory reserves level for banks with large agriculture lending to one-fifth the regular rate from February through July. Vietnam Banks Actively Seek for M&A An unnamed Vietnam bank has recently entered in an M&A consultancy contract worth $0.5 million with a securities company and another three lenders are currently in negotiation to merge into one bank, the Saigon Times reported. VDB to Auction 4tr dong government Bonds on February 8 The Hanoi Stock Exchange (HNX) will organise an auction for VND4 trillion worth of government-backed bonds distributed equally for 3-year and 5-year tenors issued by Vietnam Development Bank (VDB) on February 8. Week Ending February 5: Finance and Banking Review Vietnam Ministry of Finance (MOF) planned to sell as many as VND220 trillion worth of government bonds in the period from 2012 to 2015. Vietnam Central Bank Says Banking System in Abundant Liquidity Deposits are coming back to the banking system and local credit institutions currently have ample liquidity. Reserve rules eased for five banks The State Bank of Vietnam granted permission on February 2 to five credit institutions to maintain compulsory reserves for dong deposits at below regulated levels for a five-month period beginning February 1. Vietnam's contentious land law (1) When Vietnam veered onto the capitalist road a quarter century ago, there was hardly a hint of pushback by the officials and apparatchiks that had, until then, been entrusted with the enormous - and futile - task of building socialism. Dumping claim over clothes hangers The US Department of Commerce has instituted an anti-dumping action and filed countervailing duty petitions against steel garment hangers from Vietnam and Taiwan. Businesses Not to Be Allowed to Transfer Loss Over 5Continuos Years: MoF Businesses are likely to be allowed to transfer their losses for 5 continuous years at most, starting from the following year after the year of loss, the local newspaper Thanh Nien (youth) reported. Vietnam's contentious land law (2) Early last month, the Vietnamese public, weary after a year of high inflation and slow growth, was turning its attention to the Tet (Lunar New Year) holiday only a few weeks off. Vietnam's contentious land law (3) Vietnam's vaunted doi moi, the economic reforms that ended Vietnam's disastrous attempt to build a Soviet-style economy in the years after their 'American war,' meant for nearly all the nation's farmers the end of collective farms. Asia's K-Pop clones dance to Korean beat Twelve-year-old Sabrina Kaur does not understand the lyrics of her favourite South Korean boy band Big Bang's songs and, until recently, had never met Koreans in real life. Report says 3 more people set themselves on fire in China to protest its Tibet policies Three more people have set themselves on fire to protest China's policies toward Tibetans in a politically sensitive area that already has seen ethnic violence this year, a media report and an activist group said. Polka-dot queen of Japanese art plans London exhibition Yayoi Kusama, the Japanese artist who has made a name as the creator of vast and complex works in bold colors and polka dots, has two exhibitions of her most recent works set to open in London. Taiwan makes biggest drugs bust in 10 years: report Taiwan authorities have arrested three people and seized nearly half a tonne of narcotics in their biggest drugs bust in 10 years, according to local media. Vietnam's Stock Market Rebounds In Hope Of Market Restructuring Vietnam's benchmark VN Index went up 0.13 points to close at 401.74 points on Friday against the previous trading day. February 3: UPCoM-Index Bucks Trend to Close Down The UPCoM-Index, the measure of 127 unlisted public companies closed down on Friday, bucking the trend of the primary bourse STC. Liquidity dropped. Single Country ETFs: A Look At The Market Vectors Vietnam ETF (VNM, EEM, VWO, DGS, DEM) For tSTC of you in my generation, the thought of Vietnam brings up visuals of military carnage as seen on the nightly news of the 1960's. This is what Vietnam looks like today. BVSC Completes Biggest M&A Deal Bao Viet Securities Company (BVSC) announced that it has successfully completed the merger of Vinpearl into Vincom, the biggest deal in the field so far in Vietnam. Vietnam's Stock Movers: Bien Hoa Sugar, Nui Nho Stone Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the close. February 3: Foreigners Continues Net Buying On Both STC and HNX Foreigners extended their position of net buyers on both STC and HNX on Friday. Level of participation rocketed thanks to KDH and JVC. JVC: Two Institutional Shareholders Report Holding Japan Vietnam Medical Instrument JSC. (JVC) announced the holding of two institutional shareholders as follows: Shrimp exporters secured of material Local shrimp exporters say they are no longer concerned about material shortage this year. Massive losses cost EVN chair his seat The prime minister has dismissed Dao Van Hung, chair of the Electricity Group of Vietnam (EVN), which has been making losses while under his control, with the loss-stricken EVN Telecom the most infamous example. VCG: 2011 Net Profit Falls 20pct to 398b dong Vietnam Construction Import-Export Joint Stock Corp (VCG)'s holding company made a net profit of VND398 billion in 2011, down 20 percent from VND499 billion a year before, the firm said in its financial statements posted on HNX's website. Bag exports target growth of 30 pct Exports of bags hit more than $120 million in January this year, up 14.2 percent compared to the same period last year. European Enterprises Optimistic about Vietnam's Economy The 2012 survey on business indicators of European enterprises in Vietnam showed that confidence and business prospects among European companies in Vietnam had stabilised and far more optimistic than in the fourth quarter of 2011. Economic downturn slows auto sales Vietnam imported 3,000 complete built unit (CBU) automobiles worth 45 million USD last month, a 49.8 percent drop in volume and a 55.1 percent fall in value from January 2011, according to the general Statistical Office (GSO). Rice exports plunge in January Vietnam shipped abroad 279,266 tonnes of rice in January, bringing home 153.650 million USD, a 50 percent decrease year-on-year, according to the Vietnam Food Association (VFA). Vietnam's PV Oil Offers Six-Month Contract for Rang Dong Crude PV Oil Co., Vietnam's state-owned oil marketing company, is offering Rang Dong crude on a term basis for the six months from April to September. Vietnam Airlines launches promotion on international flights The southern office of the national flag carrier Vietnam Airlines on February 3 announced airfare discounts on many international flights until March 3. Exporters hampered by lack of certified wood As the American and European markets have strict requirements about the wood origins of wood and furniture imports, Vietnamese exporters are struggling to look for certified wood supply sources. Bio-ethanol plant rolls out first batch of product Dung Quat Bio-Ethanol Plant located in the Dung Quat Industrial Zone in the central province of Quang Ngai on February 3 turned out the first batch of product after 33 months of construction and trial operation. CTI: Reports 90pct Net Profit Plunge in Q4/2011 Cuong Thuan Idico Development Investment Corp (CTI) made a net profit of VND753.5 million in Q4/2011, plunging 90.26 percent from a year ago, the firm said in its financial statements posted on the STC's website. State Budget Investments Reaches 11.25tr dong In January 2012, Down 1.7pct YoY The total investments from state budget was estimated to reach VND11.245 trillion in January 2012, meeting 6.6 percent the year plan and decreasing 1.7 percent from the same time last year, the general Statistical Office (GSO) said. DID: Reports 7.3b dong Net Profit in 2011 DIC - Dong Tien JSC. (DID)'s net profit reached VND7.7 billion in 2011, lower than VND9.7 billion in 2010, the firm said in its financial statements posted on HNX's website. Coffee Exports From Vietnam May Climb in February on Weather Coffee exports from Vietnam, the biggest grower of the robusta variety used in instant drinks and espressos, may increase this month as good weather helps beans to dry and as the Tet holiday ends, said traders and officials. Master plan for southern central coastal region approved An oil refinery and several other interdisciplinary industrial parks will be constructed in a total area of 2,682ha in the Southern Phu Yen industrial zone in the 2015- 2025 period. GM seeks a pick-up over its van claim GM Vietnam Motors Company is losing hand over fist because of regulatory confusion over whether its Chevrolet Spark is a van or a pick-up truck. Dinh An EZ attracts 7 investment projects The Tra Vinh provincial People's Committee granted licences to the Ha Long Investment Group in January for three projects worth a total of VND24.5 trillion in the Dinh An Economic Zone (EZ). Poor Tet sales leave firms with stockpiles Many companies that participated in HCM City's Tet price-stabilisation programme are struggling to liquidate the stocks they had built up following unusually sluggish demand during the year's biggest festival. Vietnamese rice certified as an organic product Last week, arice producer in the southernmost province of Ca Mau was granted an organic rice certification by the global organisation BIO Organic, and an Organic Foods certification under the US Organic Food Production Act. TH1: 2011 Net Profit Falls 34pct to 37b dong Vietnam National general Export Import JSC. No.1 (TH1)'s net profit fell 34 percent to VND37.2 billion in 2011 from VND56.3 billion in 2010, the firm said in its financial statements posted on HNX's website. Vietnamese Coffee Sales Reached about 40pct of Crop, Volcafe Says Coffee farmers in Vietnam, the world's largest producer of the robusta variety, have sold about 40 percent of the crop ending September 30, according to Volcafe, the coffee unit of commodities trader ED&F Man Holdings Ltd Dung Quat Economic Zone aims high Dung Quat Economic Zone is set for a big boost. It follows news the country's leading industrial park developer VSIP and Singaporean Sembcorp Industries have agreed to invest into the central Vietnam facility. Vietnam Starts Seismic Surveys For First Nuclear Power Plant Nearly 100 workers and engineers Thursday started seismic surveys at the location of Vietnam's first nuclear power plant in the central province of Ninh Thuan, a local news website reported the same day. PVG: Net Profit Jumps 276.5pct to 148b dong in 2011 PetroVietnam Northern Gas JSC (PVG)'s mother company made a net profit of VND147.6 billion in 2011, up 276.5 percent from VND39.2 billion in 2010, the firm said in its financial statements posted on HNX's website. CTV: 2011 Net Profit Plunges 78pct to 725m dong Vietnam Investment - Production and Trading JSC (CTV)'s net profit plunged 78 percent to VND725.3 million in 2011 from VND3.3 billion in 2010, the firm said in its financial statements posted on HNX's website. Sagawa launches goods delivery services in Vietnam Japan 's leading transportation company Sagawa Holdings Co Ltd (SGHD) has announced that it will launch delivery services in Vietnam this month, and then officially beginning in March. DNM: 2011 Consolidated Net Profit Reaches 5b dong DNM) Danameco Medical Joint Stock Corporation (DNM) posted a consolidated net profit of VND4.9 billion in 2011, lower than VND6.1 billion in 2010, the firm said in its financial statements posted on HNX's website. C47: Consolidated Net Profit Falls 59pct to 5b dong in Q4/2011 Construction JSC 47 (C47) reported a consolidated net profit of VND5.2 billion in Q4/2011, down 58.76 percent from a year ago, the firm said in its financial statements posted on the STC's website. Vietnam Targets 3.8m Hectares Under Rice Cultivation Prime minister Nguyen Tan Dung has signed a resolution for a comprehensive national agriculture development plan for 2011-2020, with a vision for 2030, which targets blocking 3.8 million hectares under rice cultivation. Vietnam's CBI Shown a Drop in Jan Vietnam's Business Confidence Index (CBI) fell from 123 to 116 points between the third quarter of 2011 and January 2012 due to global economic turmoil. Vietnam's Housing Market Too Expensive For Workers The cost of housing in Vietnam is 25 times higher than the average workers wage, 5 times higher than housing in developed countries and 10 times higher than housing in developing countries according to a real estate expert. VTV: Makes 36b dong Net Profit in 2011 VND31 billion in 2010, the firm said in its financial statements posted on HNX's website. IFS: Posts $2m Loss in Q4/2011 Interfood Shareholding Company (IFS) posted a pre-tax loss of $2 million in Q4/2011 compared to $795,836 a year ago, the firm said in its financial statements posted on the STC's website. Few foreigners buying apartments in Vietnam The Ministry of Natural Resources and Environment's general Department of Land Management reported that while overseas Vietnamese bought apartments in the country, foreigners rarely did so. KAC: Posts Narrower Loss in Q4/2011 Khang An Investment Real Estate JSC. (KAC) posted a net loss of VND173 million in Q4/2011, narrower than VND6.57 billion net loss a year ago, the firm said in its financial statements posted on the STC's website. VNG: BOD Resolution February 2 Vietnam Golf Tourism JSC - Vinagolf (VNG) announced the resolution of its Board of directors on February 2 with some major contents as follows: Market brightens for industrial park developers Things are looking up for the industrial park property market this year with many projects likely to be implemented with "multi-use" components, according to property service provider CB Richard Ellis (CBRE) Vietnam. Vietnam Coffee Premiums Jump Robusta sellers in top producer Vietnam jacked up premiums to offset declines in London futures, while beans from the new harvest in Indonesia began entering the physical market and were snapped up by roasters, dealers said on Friday. Better transport planning needed: PM Prime minister Nguyen Tan Dung has told the transport ministry to improve transport planning over the next 10 years. New Opportunities Open For Vietnamese Expat Workers In 2012 Year 2011 was unlucky for Vietnamese expat labourers working on foreign shores, what with the global economic crisis. Asia well-placed to withstand slowdown Perhaps it's our natural eurocentricity, but we've been hearing a lot more about recession and the risk of worse in Europe than about the resilience of our own region. Fortunately, the International Monetary Fund set the record straight last week. US to move 4,700 Marines from Japan to Guam: reports Tokyo and Washington have agreed to move 4,700 Marines from the Japanese island of Okinawa to Guam in a bid to revive a stalled plan for the realignment of US forces in Japan, according to reports. N Asia to lead wave of M&A activity North Asian companies will lead a wave of acquisition activity out of the region this year as South Korean executives increasingly join those from Japan and China in acting on their overseas ambitions, according to bankers in the region. UN envoy says Burma should admit to rights violations? A top United Nations envoy warned Myanmar Sunday not to backtrack on its ongoing reform programme and said the civilian government should acknowledge its past human rights violations to allow the country to move forward. Pertamina EP expects higher output this month Pertamina EP, the upstream business unit of state-owned oil and gas firm PT Pertamina, expects to produce 126,000 barrels of oil per day (bpd) in February, lower than the government's target of 135,000 bpd. Red 5 pours first gold at Siana mine in Philippines? Perth based Red 5 (ASX: RED) has poured first gold at the Siana mine in Surigao del Norte in the Philippines. Exxon, Palmer in talks on PNG gas deal? Billionaire mining magnate Clive Palmer is in talks with global giant ExxonMobil over the right to explore his expansive gas deposits in Papua New Guinea, according to The Australian Financial Review. Inpex net income soars Inpex said it had generated an increase in net sales of JPY 182.1 billion, up 26.7 percent on the previous year, taking the total for the three quarters to JPY 864 billion. Malaysia issues tax free palm export quotas Malaysia has issued this year's tax-free crude palm oil export quotas of 3 million tonnes after weeks of delay, sources said on Sunday, ending speculation it would scrap the quota to help its refiners compete with Indonesian rivals. AirAsia-ANA win approval for budget carrier in Japan Southeast Asia's largest budget carrier AirAsia Friday said its joint venture entity AirAsia Japan has won approval from Japanese authorities to begin commercial flights. Malaysia to work with regional agencies to check human trafficking Malaysia will work with maritime enforcement agencies in the region as well as the navy to stop human trafficking and attempts to make the country a transit point for such activities. Labour unrest spooks investors? Japanese and South Korean emissaries along with a representative of the Taiwan administration have filed complaints to the Indonesian government over its handling of the recent labour unrest, claiming that it has severely harmed their businesses here. Bumi investors seek chair's ouster The largest investors in Bumi PLC called for the removal of Co-Chair Nat Rothschild and a shake-up of the coal company's board, with an eye toward expanding operations and reducing debt. Indonesians foil Aust asylum bid The Indonesian police and navy have foiled an attempted shipment of 95 asylum-seekers to Christmas Island and averted a possible sinking tragedy. Another Lion Air pilot arrested for drug use The National Narcotics Agency (BNN) arrested early on Saturday a Lion Air pilot, identified as S.S., at a hotel room in Surabaya, East Java, for allegedly using crystal methamphetamine, locally known as shabu-shabu. Thailand's capital should be moved to the north-east, says top scientist Dr Art-Ong Jumsai na Ayudhya, a former scientist at the US National Aeronautics and Space Administration (Nasa), has called for the relocation of Thailand's capital to the Northeast. Thailand faces huge rice stockpile Thailand will have to deal with its biggest-ever rice stockpile of more than 10 million tonnes this year if the government insists on maintaining its subsidy scheme and targeted export price of $700 per tonne. BOT likely to cut policy rate in March? Another policy rate cut is expected at the next meeting of the Bank of Thailand's Monetary Policy Committee in March, given the external risks in Europe and the United States. Philippine officials cast doubt on death of Singaporean militant Two Philippine security officials cast doubt yesterday on whether a Singaporean militant was killed in a United States-backed airstrike in the southern Philippines last week. Govt troops capture female leader of leftist rebels? Government troops have captured a female leader of the New People's Army (NPA) in the northern province of Quezon in connection with a number of cases pending in court, the military said today. Malls under pressure to refurbish More than a decade's supply of retail space is under construction in Singapore. Losses of Japanese electronic firms worsen Japan's biggest makers of phones, televisions and chips say they'll lose about $17 billion this year, about three-quarters of what Samsung Electronics Co. (005930) will spend on research to lengthen the lead over its competitors. Japan to suffer sovereign downgrade this year: experts The Japanese economy, which has been suffering from a huge national debt for a long time, could see a sovereign downgrade this year, many experts say. Japanese entrepreneurs aim for Silicon Valley? For an emerging generation of Japanese innovators, the dream isn't a job for life at a big company. They have new ambitions, and they're determined to go places. Especially Silicon Valley. Olympus ex-CEO Woodford sees more revelations, to attend EGM? Official investigations into a massive fraud at Japan's Olympus Corp are highly likely to lead to further revelations on the scandal soon, according to the firm's former chief executive, Michael Woodford, who blew the whistle on the affair. The basics of Chinese inbound investment deals An accelerating number of Chinese companies are engaging in acquisitions and joint ventures in the United States and while it's generally understood that a large number of other Chinese companies are also considering doing so, many still hesitate. Wen says Europe stability in China's interests China's Premier Wen Jiabao said a stable Europe was key to stability at home, in comments published Sunday, at the end of a week that saw Germany's chancellor visit Beijing. China should relax credit business controls -ex-PBOC official? China needs to lower the threshhold for companies wanting to extend credit to cash-starved companies, such as allowing leasing firms to issue financial bonds and accepting large-amount fixed-time deposits, a former central banker was quoted as saying in remarks published on Monday. Massive water diversion project to begin operating in 2013 A massive project to divert water from China's south to its drought-prone north - which has seen hundreds of thousands of people relocated - will become partly operational next year, state media reported. Korea security law is used to silence dissent, critics say? By his own admission, Park Jung-geun has long been an Internet wiseguy, a young photographer and blogger with a cyber chip on his shoulder whose favourite target for satire is the North Korean government. Korean oil refining, cars, electronics see banner year in 2011? Korean conglomerates did relatively well last year amid the global economic slump. Hiring by smaller banks spurs UK finance job market Job vacancies in London's finance sector grew threefold in January compared to a dismal end to 2011, as small and medium sized banks and fund managers looked to pick up staff flooding out of investment banks in retreat, a report showed. CKI Holdings proposes up to $500m securities offering? Hong Kong billionaire Li Ka-shing's Cheung Kong Infrastructure Holdings (CKI) has proposed offering up to $500 million worth of US dollar-denominated securities. Business Briefs February 06 * Vietnam Holding Limited, a major shareholder of Japan Vietnam Medical Instrument JSC. (JVC), registered to buy 1.5 million shares from February 8 to April 6 through put-through. After the share purchase, Vietnam Holding Limited is expected to hold 2,732,640 shares compared to 1,232,640 units or 5.09 percent stake earlier. VN Index loses 400 point threshold February 6 In this week's first trading session, sharply surging offload power to gain profit has made three stock indexes en masse lose points after gaining consecutively in three previous weeks. Hanoi-based IZs attract $97.6m FDI capital in Jan In January 2012, Hanoi-based industrial zones (IZs) drew $97.6 million worth of FDI (foreign direct investment) capital. STC's capitalisation value increases nearly 85tr dong in Jan In early this year, the total capitalisation value of over 300 shares on Hochiminh Stock Exchange (STC) reached only 447.611 trillion dong, after one month, the figure was up to 532.243 trillion dong. VFM plans a 200-500b dong open ended fund By the second quarter of 2012 and if permissions are granted, Vietnam Investment Fund Management Joint Stock Co (VFM) will launch the first open-ended fund product with scale of 200-500 billion dong and the capital scale is expected to increase in the future, according to Tran Thanh Tan, VFM's general director. Affordable housing expected to boom this year The year 2012 has seen many real estate firms in HCM City turning attention to low-price housing projects with small area. SBV to retain key rates till end-Feb: ANZ Australia and New Zealand Banking Group Limited (ANZ) has recently forecast that the State Bank of Vietnam (SBV) will retain all key rates in February 2012 to ensure good inflation control after Lunar New Year. Deposits at commercial banks picking post-Tet period, lending still slow The post-Tet period has seen deposits at commercial banks picking up. Yet, tightened credit policies have made lending institutions cautious in loaning. So where has money gone? MKP reports 8,033 dong EPS in 2011 Mekophar Pharmaceutical Joint Stock Co (coded MKP) has announced to gain Q4 net revenue of 283.4 billion dong, raising the accumulative revenue for the whole year to about 1.045 trillion dong, up 7 percent and 17 percent respectively against the same period of previous year. TIG releases business reports Thang Long Investment Group Joint Stock Co (coded TIG) released the Q4 business reports with total revenue of 5.3 billion dong, of which financial revenue counted for 3.6 billion dong and sales revenue of 1.6 billion dong, declining by 27.7 percent against the same period of 2010. SJS suffers high loss in Q4 at 62b dong The southern bourse-listed Song Da Urban & Industrial Zone Investment Development Joint Stock Co (coded SJS) suffered loss of 62 billion dong in Q4. KAC incurs loss in Q4 due to credit tightening Khang An Real Estate Investment Joint Stock Co (coded KAC) released the Q4 financial reports with loss of 173 million dong. However, the company still reported earning accumulative profit of 570 million dong for the whole year. Investors tend to invest in stocks in VN30 Index From early this year so far, a series of stocks in the list of VN30 Index have increased in price sharply such as CTG of VietinBank (+37.8 percent), BVH of Bao Viet Holdings (+36.5 percent), HAG of Hoang Anh Gia Lai Group (+27.6 percent) and STB of Sacombank (+23.8 percent), creating a motivation helping the upward trend of the VN Index of Hochiminh Stock Exchange (STC). Asian shares climb after US data Asian shares climbed on Monday, with commodity producers, exporters and financials higher after indications that the US economy is improving. Outrage as China, Russia veto UN move on Syria Outrage grew on Sunday after Russia and China blocked a UN Security Council resolution condemning Syria for its crackdown on protests, with the opposition saying it handed the regime a "licence to kill." McCain ruffles Beijing with talk of Chinese Arab Spring US Senator John McCain warned China's vice Foreign minister Zhang Zhijun on Saturday that "the Arab Spring is coming to China" and highlighted the number of Tibetans burning themeselves to death in his country. Malaysia plant threatens China grip on rare earths China's chokehold on the rare earths vital for everything from iPods to missiles is widely expected to end soon, thanks in large part to a contentious new plant in Malaysia. Singapore faces growing pains as setbacks pile up Senior officials arrested in a corruption investigation. Subway commuters trapped underground without light or proper ventilation. Flooded roads in the financial district. Burma's ambitious Dawei project faces uncertainty Dusty roads and makeshift offices are the only hints of the ambitious $50 billion project slated for the thick jungles near Myanmar's southern city of Dawei, billed by its developers as the "new global gateway of Indo-China". China security blanket for citizens abroad has limits In a demonstration of its growing military power, China is increasingly willing to deploy its armed forces to protect Chinese nationals abroad, but analysts say it still lacks the capacity to mount a complex hostage rescue. Google loses appeal in Taiwan over app refund Taiwan said Friday it had rejected an appeal by Google against a fine imposed on the US Internet giant for refusing to grant customers a seven-day trial period on its mobile phone apps. Nepal Maoists leave camps, first step to reintegration Nepal's Maoist former rebels shed their camouflage uniforms on Friday and began leaving their camps to join their families in a first step to their reintegration five years after the end of a civil war. Burma's Karen rebels say ceasefire 'fragile' One of Myanmar's most prominent rebel groups on Saturday warned a ceasefire deal seen as a breakthrough in relations with the regime was "fragile", as ethnic unrest continues to cast a shadow over reforms. Measles cases rise after decade of decline Measles outbreaks in parts of Europe and Africa led to some 60,000 more cases worldwide in 2010 over the previous year, after nearly a decade of declines, US health authorities said on Thursday. Vietcombank's bad debts ratio at 2pct in 2011 Vietnam Commercial Joint Stock Bank for Foreign Trade (Vietcombank-VCB) has recently announced its business performance for the fourth quarter of 2011 whereby there were significant differences in the revenue structure of Vietcombank in comparison with other lenders. 5-Year bond yields fall to lowest level since October Vietnamese bonds advanced, pushing benchmark five-year yields to the lowest since October, on speculation demand will improve as debt redemptions boost cash in the financial system. The dong strengthened. Burma back on the map: Tourism returns to South-east Asia's forbidden land I arrived in Yangon - or Rangoon, as the British knew Burma's old capital - half expecting not to make it beyond the airport. China gets restive taste of post-Dalai Lama era China over the years has derided the Dalai Lama as a jackal in Buddhist robes, choreographer of a separatist Peking opera and, lately, instigator of a plot that led some Tibetans to set themselves on fire and other forms of protest. Michelle Yeoh says Suu Kyi role 'lifetime opportunity' Actor Michelle Yeoh said Friday that playing the role of Aung San Suu Kyi in the "The Lady" was an opportunity of a lifetime, as the film about the Myanmar democracy leader made its debut in Hong Kong. HPG to organise AGM on March 30 Vietnam Securities Depository Centre (VSD) has recently said that Hoa Phat Group Joint Stock Co (coded HPG) will organise its annual general meeting (AGM) on March 30, 2012. Coffee exports from Vietnam may climb in February on weather Coffee exports from Vietnam, the biggest grower of the robusta variety used in instant drinks and espressos, may increase this month as good weather helps beans to dry and as the Tet holiday ends, said traders and officials. MCP surpasses profit plan by 70pct My Chau Printing and Packaging Joint Stock Co (coded MCP) released the Q4 business reports with net revenue of 123.15 billion dong and after tax profit of 13.17 billion dong, increasing by 30.69 percent and 39.81 percent respectively against the same period of 2010. FPT contributes 85pct stake in establishing retail arm FPT Joint Stock Co (coded FPT) has recently announced the resolution of its director board on January 1 whereby the company agreed a plan to set up FPT Digital Retail Joint Stock Co (FRT) to carry out the retail chain plan. S91's profit posted at 1b dong in 2011 The northern bourse-listed Song Da 9.01 Joint Stock Co (coded S91) released the financial reports with whole year net profit of over 1 billion dong, equivalent to 22 percent of 2010, despite sharp increase in total revenue. The company's earnings per share (EPS) was posted at 392 dong. Taicera reports EPS of 1,980 dong in 2011 Taicera Ceramic and Porcelain Joint Stock Co (coded TCR) announced to gain Q4 net revenue of 361.9 billion dong and net profit of 9.7 billion dong. THV incurs loss of 120b dong The northern bourse-listed Thai Hoa Group Joint Stock Co (coded THV) announced to continue suffering from loss of 82.5 billion dong in Q4. Accumulatively, the company suffered loss of 120 billion dong, of which financial loss accounted for 122 billion dong. VDL earns net profit of 16b dong in 2011 Lam Dong Food Joint Stock Co (coded VDL) reported gaining net profit of 15.7 billion dong in 2011, declining by 11 percent against that of 2010. SE Asia goes slow on nuclear? After the 1986 Chernobyl nuclear disaster, Vietnam suspended its nuclear plans and waited for more than a decade before reviving them. Burma's ambitious Dawei project faces uncertainty Dusty roads and makeshift offices are the only hints of the ambitious $50 billion project slated for the thick jungles near Myanmar's southern city of Dawei, billed by its developers as the "new global gateway of Indo-China". In Burma, Karen rebels deny signing a cease-fire When Myanmar announced a cease-fire last month with one of the country's most prominent rebel groups, images of longstanding enemies shaking hands across a table were beamed around the globe and touted as evidence of further reconciliation in a country emerging from decades of military dictatorship and interethnic strife. Refinery on target for not so rare earth? Safety concerns and other hiccups have not stopped progress, writes Keith Bradsher. Toledo Mining has new vision, strategy and potential Toledo Mining (LON:TMC) chief executive Victor Kolesnikov set out his blueprint for the miner in a 20-page presentation delivered towards the end of last year. Pertamina discovers oil and gas at Tiung Biru field Indonesia's state-owned Pertamina said Wednesday it has discovered oil and gas at its Tiung Biru field in the Gundih block in East Java, at a flow rate of 2,546 b/d of oil and 2,750 Mcf/d of gas. Sagittarius Mines deserves an ECC One can just imagine the contorted expressions of disbelief, shock and even dismay on the faces of the executives of the Sagittarius Mines Inc. (SMI) when the bad news was delivered. PetroChina buys stake in Canada shale gas project State-owned PetroChina said it has agreed to take a 20 percent stake in a Canadian shale gas project owned by Royal Dutch Shell, China's latest acquisition of North American natural resources. Malaysia said to reform palm oil export duty policies Malaysia will reform its crude palm oil (CPO) export duty policy and introduce a RM1 billion fund to rescue refiners affected by Indonesia's export tax structure, The Star reported today, citing unidentified sources. Malaysia wants cooperation to halt boats The Malaysian government says the deaths of at least nine asylum seekers who drowned while trying to make it to Australia highlights the need for international cooperation in combating people smuggling. Garuda targets $200m in loans to finance aircraft Garuda Indonesia, the country's flag carrier, is seeking $200 million in bank loans for financing this year as it boosts the number of aircraft it plans to purchase by more than double. Mutual funds may grow 20pct this year, group says? Indonesian (JCI) mutual-fund assets will probably expand at a faster pace this year as overseas investors increase stock purchases after the country regained its investment grade, an industry group said. December retail sales rise 22.2 pct y/y? Indonesia's retail sales grew 22.2 percent in December from a year ago, slower than November's annual growth of 26.6 percent, the central bank said on Friday. Bakries, Tan seek to oust Rothschild from Bumi board? Indonesia's politically connected Bakrie family and their shareholder partner in Bumi Plc (BUMIP.L) are seeking to oust financier Nat Rothschild and other key directors from the board of the London-listed coal miner. Restoring US presence in the Philippines? Twenty years after they left their military bases here, the American forces may be back in bigger numbers. Philippines on alert for 'probable' revenge for air strike? The Philippine military stepped up security on Friday in expectation of revenge attacks by Muslim rebels after an air strike killed 15 al Qaeda-linked militants, officials said. More Swiss banks may head for Singapore? More Swiss banks may be looking to Singapore as a favourable place for expansion amid a growing crackdown on private banking, particularly after the United States - for the first time - indicted a Swiss bank instead of an individual for evading taxes. SMX to launch pepper futures in Feb? The Singapore Mercantile Exchange will launch the world's first international black pepper futures contract on February 10, the exchange said on Friday. Detroit automakers say 'no' to Japan joining trade talks? Detroit automakers are urging President Barack Obama to reject Japan's bid to join talks on a regional free trade agreement, the head of an automotive group representing GM, Ford and Chrysler said on Thursday. Toyota aims for almost 10 million in vehicle sales Toyota Motor said it aimed to sell 9.58 million units worldwide in 2012 after losing its number one spot in the global carmakers' league last year. Nuclear crisis bolsters Japan push for utilities reform? Mayor Nobuto Hosaka had more than saving taxpayers' money on his mind when he recently invited bids from rivals of giant utility Tokyo Electric Power Co to supply power to his ward in Japan's capital. Wen says China has no intention to 'buy Europe' China's Premier Wen Jiabao said Friday the Asian giant had neither the ability nor the intention to "buy Europe", amid concerns over growing Chinese investment in debt-stricken eurozone economies. Posco sees 12pct fall in 2011 consolidated net profit South Korean steelmaker Posco said its consolidated net profit in 2011 fell 12 percent from a year earlier due to higher raw material costs and a plunge in demand from China. | |
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