070617Intellasia Finance Vietnam - HKBAV 2017-06-07¢  At a recent meeting with Viet...

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Transcript of 070617Intellasia Finance Vietnam - HKBAV 2017-06-07¢  At a recent meeting with Viet...

  • 7 June 2017

    finance & business news

    FINANCE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Reference exchange rate down by 2 VND 2 Interest rates in inter-bank market drop for fifth week 2 State-owned banks to be allowed to keep dividends 2 Vietnamese banks drawing closer to Japanese partners 3 Are banks ready to evaluate environmental risk as a credit risk? 4 Which banks are boosting consumer loans? 5 LienVietPostBank senior official returns after dismissal 6 VN 2017 growth below mark: WB 7 Japan, Vietnam set to bring TPP into force 7 Vietnam's export turnover hits 79.3 billion USD in five months 8 Vietnamese fruits conquer Japanese market 8 China to buy half of Vietnam litchi output 8 SCIC sells stakes in 13 companies 9 Vietnam, Asian peers can unlock $5 trillion, 230 million

    jobs via development goals 10 SME support won't be in cash 10 Vietnam back to list of top ten retail markets 11 Savills: Property market active in Q1 12 Green buildings to set new trend: Expert 12 Going green: Clean energy generates giant investments

    across Vietnam 13 Where does competition by offering discounts lead 'giants' in

    plastics industry to? 14 PM Phuc woos Japan investors 16 PM calls for Japanese investment in information technology 17 Vietnam, Japan ink $22bn worth of trade deals at 'historic'

    conference 17 Vinh Long seeks to promote trade in Australia 18 Is the door to US market narrowing for Vietnamese exporters? 19

    BIZ NEWS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Business Briefs Jun 07, 2017 19 Markets continue upward trend as blue chips gain 20 Bank shares lift VN Index over threshold 20 VN Index breaks through 750 points 21

    Product most challenging issue for derivatives market 22 Three more companies trade on UPCoM 23 Small securities firms still struggle despite changing ownership 23 Ministry demands multiple incentives for N-S Expressway 24 HCM City seeks to tax sales on Facebook 25 HCM City to relocate cement plants 26 PM approves plan to equitise state-run construction corporation 26 Pangasius price increase not attract farmers fearing fluctuations 26 FECON inks cooperation agreement with Japanese expressway

    companies 27 Hazardous waste treatment plant relocated to Cu Chi 27 Vinalines, NYK Line consider developing logistics centre 28 Viglacera introduces energy saving glass 28 Vietnam's first BOT project juiced up with foreign investors 29 Honda Vietnam to increase export of CBU vehicles by 12pct 30 Sumitomo cuts deal to build $4 billion smart city in Hanoi 30 Homedy gets funds from two foreign investors 31 Co.opmart, Co.opXtra launch eco-friendly promotion 31 InterContinental Danang Sun Peninsula Resort wins 4 World

    Travel Awards 32 Panasonic Vietnam receives National Environment Award 2017 32 Phu My Hung Midtown second phase gets record 1,200 bidders 33 CapitaLand breaks 22-year record with 11 Vietnam Property

    Awards 34 Kohler Vietnam proud to contribute to Vietnamese real

    estate industry 35 ASIA DMC wins big at World Travel Awards 2017 36 Vietnam-Czech business forum opens in Hanoi 37 Agriculture ministry to hold tra fish fair in Hanoi in October 38 VN high-quality products fair opens in Da Nang 38 Culture, tourism week set for Cai Chien Island 39 HCM City proposes hiking sidewalk fees 39 Volunteers fluent in foreign languages can serve as tour guides 40

    FINANCE

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    FINANCE Reference exchange rate down by 2 VND

    07/JUN/2017 INTELLASIA | VNA

    The State Bank of Vietnam set its reference VND/USD exchange rate at 22,401 VND/USD on June 7, down 2 VND from the day ago. With the current/- 3 percent VND/USD trading band, the ceiling exchange rate is 23,072 VND per USD and the floor rate is 21,730 VND per USD. At opening hours, major commercial banks kept their rates stable. Vietcombank listed its buying rate at 22,680 VND and its selling rate at 22,750 VND, per USD, unchanged from June 6. BIDV also kept its buying and selling rates at 22,680 VND and 22,750 VND. Techcombank adjusted its buying rate down by 5 VND to 22,660 VND and kept its selling rates unchanged at 22,760 VND, per USD. http://en.vietnamplus.vn/reference-exchange-rate-down-by-2-vnd/112903.vnp

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    Vietnam finance & business 7 June 2017

    Interest rates in inter- bank market drop for fifth week

    07/JUN/2017 INTELLASIA | VNS

    Liquidity in the banking system has been positive as interest rates in the inter-bank market dropped for the fifth consecutive week. Reports from the Bao Viet Securities Company showed that overnight and one-month rates slid by 43 percentage points to 2.27 per cent and 2.47 per cent in the week ending June 2. During the week, the central bank made a net withdrawal of VND499 billion (US$21.89 million) via the open market operations. Thanks to the good liquidity, demands for loans in the inter-bank markets declined sharply. Nguyen uc Hung Linh, analysis director of the Saigon Securities Incorporation, said that the liquidity has been improved significantly, contributing to reducing interest rates. Interest rates for dong short-term deposits quoted at commercial banks have inched down by roughly 10 percentage points, Linh said. However, he said, the rates for longer term deposits have been unchanged as banks' demand for the loans has remained high to meet the central bank's regulations on cap- ital adequacy ratio. http://bizhub.vn/banking/interest-rates-in-inter-bank-market-drop-for-fifth- week_286697.html

    State-owned banks to be allowed to keep dividends

    07/JUN/2017 INTELLASIA | VNS

    State-owned commercial joint stock banks will be allowed to keep dividends which are supposed to be paid to the State budget so that they can increase their charter capital, State Bank of Vietnam's (SBV) Governor Le Minh Hung was quoted as saying. In a recently released report on State ownership in enterprises, the Politburo said this decision is aimed at improving the financial capacity of State-owned banks, Hung told Thoi bao ngan hang (Banking Times). The State currently holds stakes in Agribank, BIDV, Vietinbank, Vietcombank, Con- struction Bank, Ocean Bank and GP Bank. Till now, banks have not been allowed to keep their dividends. Representatives of State capital at State-owned banks often require to vote for dividend payout to be in cash at the banks' annual general meetings (AGM) so that the State receives money from dividends. In 2015, for example, the finance ministry received VND2.7 trillion (US$120.96 million) in dividends from BIDV as the State held 95.28 per cent of BIDV's charter capital. In the 2017 AGM season, Vietcombank, VietinBank and BIDV have so far made divi- dend payments in cash following the demand of majority shareholders, including the finance ministry, at 7-8 per cent. The Politburo's allowance will help banks increase their capital to meet the require- ments of Basel II, which is due to take effect in Vietnam this September, as part of a pilot programme in 10 banks. The remaining banks will follow two years later. To meet Basel II requirements, banks have been trying to increase capital, but it has been tough. This year, 16 banks announced plans to increase capital by a total of around VND37 trillion. Analysts said that despite their efforts, banks would find it difficult to increase their capital as bad debts remain the greatest hurdle, making investors apprehensive of putting their money in banks. The Politburo's report said the State would continue holding capital in Agribank, BIDV, Vietinbank and Vietcombank, with a controlling stake of not less than 65 per cent. This is an important factor in strengthening their potential and playing a domi- nant role in regulating the operations of the State-owned commercial banks, the Poli- buro said. http://bizhub.vn/markets/state-owned-banks-to-be-allowed-to-keep- dividends_286694.html

    Intellasia 7 June 2017 2 / 40

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    Vietnam finance & business 7 June 2017

    Vietnamese banks drawing closer to Japanese partners

    07/JUN/2017 INTELLASIA | VIR

    Japanese banks that have previously invested in Vietnamese banks are considering in- creasing the stakes, while others are looking for ways to join the budding Vietnamese market. Expanding Japanese investment in Vietnam One of the first Japanese companies investing in the Vietnamese banking industry was Mizuho Financial Group, which entered in the domestic market in 2012. Currently, Mi- zuho's initial investment of $570 million has doubled in value. At a recent meeting with Vietcombank's leaders, Yasuhiro Sato, general director of Mi- zuho, said, "Vietcombank is our most successful investment." Also, Sato said, after the last five years of successful partnership between Mizuho and Vietcombank in the banking industry, he hoped that the cooperation will be expanded to other fields, such as securities and financial companies, so that Vietcombank can be- come a strong financial group in Vietnam. Unlike Mizuho, the $225 million of Sumitomo Mitsui Financial Group's initial invest- ment in Eximbank has declined in value by over a half at present, however, the Japa- nese company does not plan to exit the Vietnamese market. Through its 15 per cent holding in Eximbank since 2007, Sumitomo used to have huge profits when this commercial bank earned trillions of VND. At the meeting with deputy prime minister Vuong Dinh Hue, Ryuji Nishisaki, CEO cum chair of Sumitomo Mitsui in Asia-Pacific, said that the group was c