Asiamoney - Vietnam Coverage

Vietnam

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Vietnam urged to focus on FDI to achieve stability

28 Nov 2009 Nations & economies, Foreign exchange
The State Bank of Vietnam’s surprise decision to devalue the currency heightened concerns about investing in the country. But Moody’s Economy.com argues that policy-makers must encourage FDI to finance the trade deficit.
Business news: the past week in Asia

26 Nov 2009 Market wrap
China and India urged local banks to raise their capital adequacy ratios, Japan’s Mitsubishi UFJ Group plans a major equity issue for that reason, and China Minsheng Bank’s Hong Kong listing goes well initially but drops in the aftermarket.
Calyon expects further depreciation in Vietnam dong

26 Nov 2009 Nations & economies, Foreign exchange
The State Bank of Vietnam devalued the currency 5.4% to curb a widening trade deficit and present a more rapid decline in foreign exchange reserves. However, there are fears it could fuel further inflation pressures.
Vincom mulls further financings after convertible debut

17 Nov 2009 Stock & exchange, Real estate, Investment banking, Bonds, Project finance
The Vietnamese property company will return to the international capital markets after a break, potentially for a Reit, its chief investment officer Thuy Hagan says.
Business news: the past week in Asia

30 Sep 2009 Market wrap
CNOOC vies to spend up to US$30 billion on Nigerian oil fields, and Australian retailer Myer aims to list again at home. HSBC relocates it chief executive to Hong Kong, as Gujarat plans the world’s largest solar energy facility.
Foreign Exchange Poll 2009: results revealed

17 Sep 2009 Foreign exchange, Polls & awards
The top-ranked banks in Asiamoney's largest FX Poll to date believe that the country’s currency will offer major opportunities as it liberalises both onshore and offshore.
Corporate issues drive growth in local currency debt

15 Sep 2009 Bonds
Emerging East Asia has seen a rapid rise in local currency corporate bond issuance in the first half of 2009, a new report by the Asian Development Bank has found. It has been a key source of funding for regional firms and governments in volatile times.
Investors advised to dump Vietnam stocks

05 Sep 2009 Stock & exchange, Nations & economies
Share prices in Vietnam have been driven to levels that do not reflect the risks of investing in the country, says Credit Suisse. Other markets such as in South Korea and Thailand represent better value for money.
Asiamoney Cash Management Poll 2009

18 Aug 2009 Cash management, Polls & awards
The global financial crisis has led customer orders to tail off and lending lines to shrivel. Asiamoney's Cash Management Poll 2009 reveals how a flight to quality has benefited two cash management providers above all.
ANZ’s Smith revels in 'value buy' of RBS assets

04 Aug 2009 M&A, Corporate profiles, Nations & economies, Loans
The group’s chief executive delights in the acquisition of select RBS Asian assets for US$550 million, or 1.1 times book value, describing the financial crisis as a once-in-a-lifetime opportunity. He conceded the bank would need to bed this deal down, but refused to rule out further purchases. Meanwhile, RBS confirmed it was in advanced discussions over the remaining Asia assets it plans to sell.
Editorial: Asia acquisitions whet Smith’s appetite

04 Aug 2009 M&A, Nations & economies, Editorial
The head of ANZ took his first step towards making the banking group a respected regional player by purchasing selected Asia assets of RBS. But he will need to do a lot more if he harbours real ambitions of being mentioned in the same breath as HSBC or Standard Chartered.
A week in Asia's business news – July 11-16

16 Jul 2009 Nations & economies, Market wrap
China accused four employees of Rio Tinto of bribing local steelmakers to get better prices on iron ore sales, and Japan’s ruling party announced plans to hold an election at the end of August. North Korean leader Kim Jong-il was diagnosed with cancer, and India’s IPO pipeline began to pick up once more.
Market news: Asia media round-up

02 Jul 2009 Market wrap
In June, manufacturing in China picks up for the fourth time in a row, South Korean exports rise 17.4% from May and sentiment among big Japanese manufacturers bounces back . Meanwhile India aims to introduce new law to improve corporate governance before the end of the year and Hong Kong citizens take to the streets in an emotional rally over minibonds.
Market news: Asia media round-up

26 Jun 2009 Market wrap
HSBC becomes the first foreign bank to sell renminbi-denominated bonds to international investors, while shampoo-maker Bawang sees strong retail investor demand for its forthcoming Hong Kong IPO. Separately, India sets up a new agency to assign individual identity cards to its huge population.
Market news: Asia media round-up

15 Jun 2009 Market wrap
Ping An confirms plans to buy up to buy up to 30% of Shenzhen Development Bank, while state-backed Taiwan Memory is understood to be in talks about acquiring a 10% stake in Japan’s Elpida. Separately, Malaysian Airline System is hit by fuel-hedging losses as it reports a quarterly net loss.
Market news: Asia media round-up

11 Jun 2009 Market wrap
India’s finance minister pleads with bank heads to cut interest rates for consumers and industry to revive the economy. Also, Korea Hydro & Nuclear Power readies to sell up to US$1 billion of US dollar bonds in what would be the country’s biggest corporate debt issue this year, and China Minmetals raises its bid for Oz Minerals’ mining assets ahead of a key shareholder vote on the deal.
Vietnam: best domestic bank

08 Jun 2009 Nations & economies, Loans, League table, Polls & awards
Asiamoney reveals its annual domestic bank award for Vietnam over the past year. Asia Commercial Bank’s profitability and prudent lending ensure that it stands out during a tough economic period for the country.
Market news: Asia media round-up

27 Mar 2009 Market wrap
Hong Kong’s exports fell at their fastest rate for over 50 years in February, while Vietnam’s GDP growth slows to 3.1% in the first quarter. Also, ICBC targets overseas acquisitions, Rio Tinto eyes alternative fundraising plans, Mizuho looks to refocus on domestic lending and Hynix Semiconductor says the global chip industry likely hit the bottom in the fourth quarter of 2008.
Market news: Asia media round-up

24 Mar 2009 Market wrap
Bank of China governor Zhou Xiaochuan calls for a new international reserve currency to replace the US dollar, while Vietnam’s central bank widens its daily foreign exchange trading band to support its economy. Separately, Mitsubishi UFJ announces job cuts and branch closures, and investors owning 70% of Australia’s Pure Energy accept a takeover offer from BG Group.
Headhunters Poll: talent-finders adapt to tough times

13 Feb 2009 Hedge funds, Private equity, Structured products, Cash management, Investment banking, Project finance, Broking, Polls & awards, Private banking
Staff at banks have been on the front line as far as the global financial crisis is concerned, with bonuses slashed and entire teams of people let go. It was a challenging environment for the region’s recruiters too, with firing strongly outstripping hiring. Asiamoney reveals which firms have prospered in the toughest year in a decade.
Strategists outline Asia earnings expectations

10 Feb 2009 Stock & exchange, Research report
Asian firms are due to announce their first set of results since the global economic collapse in the fourth quarter of 2008. Asiamoney questions four equity strategists to determine their expectations.
Asia bankers must prepare for drop-off in FX trading

09 Feb 2009 Investment banking, Foreign exchange, Broking
Last year was a phenomenal 12 months for foreign exchange bankers, but 2009 and beyond looks tougher. With markets proving hard to predict and investors fleeing complex products, some banks are faced with falling by the wayside.
Editorial: the value of honesty

08 Feb 2009 Editorial
Corruption is inevitable in any industry involving large sums of money. But as times worsen, expect to see more companies admitting to mistakes. The coming year promises to teach us all more lessons about the excesses of previous years.
Capital-hungry banks offload China assets

07 Feb 2009 Stock & exchange, Investment banking, Bonds, League table
Major sales of Chinese bank shares dominated capital market activity early last month as western banks sold down their stakes in mainland institutions. Meanwhile, the Philippines and two Korean borrowers reopened the region’s G3 bond market, but the pipeline for more deals is thin. Asiamoney reviews Asia market activity in January.
Editorial: Boutique banks have golden opportunity in troubled times

15 Jan 2009 Investment banking, Editorial
As the world’s largest investment banking operations struggle to retain staff and client confidence, boutique advisory firms have never had a better opportunity in Asia. Chinese companies in particular may find them appealing. Naomi Rovnick reports.
Foreign Exchange: Short and simple - the new mantra for Asian FX

14 Jan 2009 Foreign exchange
Ongoing uncertainty over currency movements means that taking short, vanilla FX positions is the likely feature of currency trading in Asia over the coming year. Pamela Tang reports.
Market news: UBS, ICBC make a late dash up the league tables

12 Jan 2009 League table
The Swiss bank enjoyed unexpectedly strong deal flow from China to take top spot in the respective equity capital markets and M&A league tables for Asia ex-Japan. And ICBC leapfrogged HSBC and Citic Group to head the debt table. Pamela Tang reports.
Research Report: Global financial crisis and recovery

08 Jan 2009 Research report
How deep and long do you expect the economic contraction to be in Asia and how quickly can the region recover?