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NEWS


BUSINESS IN BRIEF 31/10
IT investors seek more space

Investors in high-tech fields are planning to build factories in HCM Citys neighbouring provinces as available land in the city for industrial plants shrinks.

Osamu Kawakami, general director of Nidec Tosok Precision, said his company wanted to do business in the city but was finding it difficult to find enough land to build factories.

On a recent tour of industrial and export processing zones inside the city, his staff could not find available land for new factories.

So the company will build a plant in nearby Ben Tre Province, even though transport and production fees will be much higher than those in HCM City, according to Kawakami.

In HCM City, there is no more land for new industrial parks, while existing ones are fully occupied. High-tech parks in District 9 and Thu Duc District are all full.

As the amount of land has decreased, Ben Tre and Tien Giang provinces have become ideal destinations for investors.

Nguyen Thi Minh Thu, head of the Saigon Hi-Tech Parks investment promotion and international relations division, said the park was given 913 ha of land by the citys Peoples Committee, with the first phase of development ending in 2010.

Local and foreign investors set up factories during the first phase, covering 90 percent of the land area of 300 ha.

The parks second period of development began this year and is to end in 2015. The remaining 613 ha will be occupied by new investors by the end of 2013. As of this September, it has attracted 29 projects, including four construction projects.

Another 13 projects have received land but have yet to begin operations. Most of the projects are owned by domestic investors, who do not have enough capital to continue. Three of the 13 projects may have their licenses revoked, according to city officials.

Many investors prefer to set up shop in the city because of its natural advantages and international-standard infrastructure.

Nguyen Tan Phuoc, deputy head of the citys Export Processing Zone and Industrial Zone Authoritys managing board, said the Tan Than Export Processing Zone was building factories on 38ha in order to meet demand of investors in hi-tech fields.

Blue chips weigh on indices
 
Blue chips fell on the nations stock markets yesterday afternoon, pushing the VN-Index on the HCM City Stock Exchange down 0.38 per cent to conclude the session at 389.86 points.

Most brokerage companies forecast a downward outlook this week with large-cap shares being the major drag on the southern bourse.

Shares holders began to unload blue chip shares after a strong rally during the previous weeks which would likely drag down the VN-Index and VN30 early this week, according to analysts from Viet Dragon Securities Co.

Without news that will boost the psychology of investors, the market was unlikely to rebound soon, they said, adding that low valuations were not appealing enough to overshadow potential risks.

The total value of trades yesterday was down 33 per cent from a day earlier, reaching just VND297.2 billion (US$14.2 million), of which VND137.8 billion ($6.6 million) came from transactions of top 30 shares.

Only three of the top 30 shares on the southern bourses climbed while 19 codes declined, driving the VN30 Index down 0.43 per cent to 459.04.

HCM City Infrastructure Investment (CII) was the biggest gainer, hitting the ceiling price of VND24,700 (US$1.18) a share, following news on Monday that the company will advance an 8-per-cent dividend in the form of cash for the first phase dividend this year.

Ending September, CII earned a total profit of VND218.37 billion ($10.4 million), an increase of more than 48 per cent over the same period last year.

However, shares in Tan Tao Investment Industry (ITA) were still the most active code with more than 2.5 million shares changing hands, closing off 2.33 per cent at VND4,200 a share.

Sluggish trading also depressed shares on the Ha Noi Stock Exchange, with the HNX-Index down 0.95 per cent to 53.13 points on a modest turnover of just VND259.35 billion ($8.1 million).

Shares of Nam Viet Bank (NVB) and Sai Gon-Ha Noi Bank (SHB) saw huge trading, with over 8 million NVB shares and 5.5 million SHB shares changing hands. While NVB closed flat at VND7,000 a share, SHB edged 5.26 per cent down at VND5,400 each.

NVB on Monday posted a nine-month profit of VND130.7 billion ($6.2 million), down 33.5 per cent year-on-year. The lenders deposits increased by 11.73 per cent to VND16.56 trillion ($788.6 million) but its bad debt rose from 2.92 per cent in the second quarter to 3.97 per cent by the end of September.

Foreign investors finished yesterday as net buyers on both stock exchanges, picking up a combined net buy of more than VND5 billion ($238,000) worth of shares. 

 SBV claims bad debts are falling

Bad debt has decreased by VND36 trillion (US$1.715 billion) thanks to the efforts of debt restructuring, debt payment delay and quittance, according to the State Bank of Viet Nam (SBV).

The settled debts made up for nearly 18 per cent of the VND202 trillion ($9.62 billion) total bad debt reported in September by the SBVs

(10/31/2012 3:52:46 PM)


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