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HCM CITY — Residential developers will likely be required to set aside at least 10 per cent of their projects to build apartments for rent if a draft decree from the Ministry of Construction is approved by the Government. The Law on Housing enacted in 2005 encourages organisations and individuals of all economic sectors to participate in...
Posted date: Sat, 19 May 2012 - From: Real Estate News
HA NOI — The Ministry of Construction (MoC) has proposed to delay the submission of a development plan on foreign direct investment for the real estate industry to the Government until August at the Prime Minister's request. So far, the ministry said, some ministries and 18 cities and provinces had not yet sent in reports on developing FDI...
Posted date: Sat, 19 May 2012 - From: Real Estate News
HA NOI — Capital inflows into the stock market are likely to decline substantially if a draft circular being prepared to replace Ministry of Finance Decision No 27/2007/QD-BTC is approved. The draft regulation on the organisation and operation of securities companies will limit these companies from carrying a debt load in excess of three...
Posted date: Sat, 19 May 2012 - From: Stock News
HA NOI — Thien Viet Securities Co (TVS) did not incur any financial losses resulting from the purchase of over 6.4 million shares in HCM City Infrastructure and Investment (CII), TVS General Director Tran Quoc Tuan has said. In a letter sent to its shareholders on Thursday, Tuan said in the first half of this year, TVS successfully consulted...
Posted date: Sat, 19 May 2012 - From: Stock News
HA NOI — Exchange rates are showing stable development, says financial and banking expert Nguyen Tri Hieu. The average inter-bank rate of exchange yesterday, as listed by the State Bank of Viet Nam, continued to stay at VND20,828 per US dollar, a level it had maintained for almost all of a six-consecutive-month period since November 24 last...
Posted date: Sat, 19 May 2012 - From: Currencies News
The green design will continue to be the theme of the Vietnam Architecture 2012 Exhibition (VietArc 2012) which will take place in HCMC next month after the one in Hanoi last month. The exhibition will be organized by the HCMC Architects Association and Gia Phuc Media Joint Stock Company at the Saigon Exhibition and Convention Center (SECC) in...
Posted date: Sat, 19 May 2012 - From: Real Estate News
Bank for Investment and Development of Vietnam (BIDV) will provide VND2 trillion as middle and long-term loans with preferential rates for developers of housing projects for low-income earners and workers at industrial parks. This is the content of the agreement signed between BIDV and the Ministry of Construction on Wednesday. The supporting...
Posted date: Sat, 19 May 2012 - From: Real Estate News
Phu My Hung Corporation (PMH) continues putting the rest of high-end Chateau villas in District 7’s Phu My Hung new urban area for sale following its market survey conducted in the first sale offer. The remaining 41 villas of the Chateau project are currently on sale at a price of VND30-90 billion per unit. Last year, PMH launched the sales...
Posted date: Sat, 19 May 2012 - From: Real Estate News
HAGL Joint-Stock Co., Vietnam’s second-largest listed property developer by market value, has rejected rumors that it is on the verge of collapse, saying they have been spread by competitors it has left in its wake. “There is no problem with our finance, and in fact we are very strong,” chairman Doan Nguyen Duc said. “I think this...
Posted date: Fri, 18 May 2012 - From: Real Estate News
Southeast Asian stock markets extended their losses on Friday, with Philippine shares sliding almost 3 percent, as escalating problems in Europe made investors head for the exits. The Philippine index a suffered 5.4 percent loss for the week, its worst weekly loss since September and the second-worst performer in the region, following...
Posted date: Fri, 18 May 2012 - From: Stock News
PetroVietnam Gas Corporation (PV Gas) will begin trading nearly 1.9 billion shares on the Hochiminh Stock Exchange (HOSE) next Monday under the code of GAS, making it the second largest firm on this bourse after Vietcombank. According to a statement released on Thursday, the firm’s listing on HOSE will help it raise funds from local and...
Posted date: Fri, 18 May 2012 - From: Stock News
Moody’s Investors Service cut standalone financial strength rating of Asia Commercial Bank (ACB) from D- to E+ and downgraded the lender’s local currency long-term credit and issuer ratings to B1 from Ba3. Meanwhile, the ratings agency maintained ACB’s foreign currency long-term deposit rating at B1; yet with negative outlook. ACB...
Posted date: Fri, 18 May 2012 - From: Stock News
Moody’s Investors Service said it placed Saigon-Hanoi Joint Stock Commercial Bank (SHB) in review for possible downgrade after the lender announced its merger with Hanoi Building Commercial Joint Stock Bank (HBB) on May 5. The ratings agency said in a statement on May 11 that it was reviewing SHB’s B2 deposit and issuer ratings as well as...
Posted date: Fri, 18 May 2012 - From: Stock News
Vietnamese stocks ended the week with a big losses, extending the weekly fall to the biggest level year-to-date as investors offloaded shares to minimize risks fearing the correction will last long. The benchmark VN Index fell for a eight day in a row, losing 7.63 points or 1.72% to 434.95. Volume declined to 80.4 million shares worth of...
Posted date: Fri, 18 May 2012 - From: Stock News
HA NOI — Trades were sluggish during the morning session yesterday on the HCM City Stock Exchange, and the VN-Index tumbled by 1.63 per cent to close at the end of afternoon trading at 442.58 points. The value of trades dropped 11.5 per cent from Wednesday's level to VND1.15 trillion (US$54.7 million), while volume also fell by 10.2 per cent...
Posted date: Fri, 18 May 2012 - From: Stock News