Vietnam’s TicketBox Raises Series A Funding
Vietnam-based ticketing platform TicketBox, winner of the Ricebowl Startup Awards 2016, is understood to have snapped up an undisclosed series A funding, a source familiar with the matter told DEALSTREETASIA.
The information about the deal was posted on Crunchbase, which listed 500 Startups and global tech investment group Susquehanna International as investors in this round.
Malaysian Businesses Eye Vietnam’s Privatization
Vietnamese Embassy in Malaysia and Malaysia External Trade Development Corporation on Nov. 24 co-organized a seminar highlighting investment opportunities in Vietnam.
Around 170 Malaysian enterprises took part in the event who paid much attention for the privatization process in Vietnam, contributed many questions about the privatization as well as investment environment in Vietnam.
CEO Dismisses Environmental Concerns over Taiwanese Paper Mill in Tien Giang
Chiang Ming Jui, CEO of Dai Duong Vietnam Co. Ltd., the developer of the namesake $220-million paper mill in Tien Giang, asserted that the facility presents little ground for concerns over pollution, according to the Tuoi Tre newspaper.
The company’s management board has insisted that no paper plant will ever be built by the company at the expense of the local environment, and the Dai Duong project will stick to that policy, the CEO said.
NovaLand Investment Group Corp, a developer of high-rise apartments targeting younger people, has sold a 10% stake to 18 institutional investors for about $120 million, Bloomberg reported.
About 70% of the investors are overseas financial institutions, from Hong Kong, Singapore and Thailand, NovaLand CEO Phan Thanh Huy said.
EuroCham Supports HCM City to Become Smart City
The European Chamber of Commerce in Vietnam (EuroCham) has proposed measures to support Ho Chi Minh City to become a smart city at a workshop in the city on November 24, the Vietnam News Agency (VNA) reported.
Yannick Millet, a member of the Executive Board of the Vietnam Green Building Council, highlighted the role of green construction materials, such as baking-free bricks, foamed concrete, saying that they will contribute to effective construction while reducing carbon emission during operation.
South Korea Bank Approves $77 Million Loan for Vietnam’s Irrigation
South Korea’s Export - Import Bank has approved a loan of $76.93 million for Vietnam to upgrade the irrigation systems in the Len and Hoang Mai rivers in the central region.
The sum is expected to help the Vietnamese side to better control salinity, upgrade the eco environment and adapt to climate change in benefiting localities, according to VNA.
Major banks in Vietnam on Friday morning lowered both selling and buying prices of the U.S. dollar after a central banker said the monetary regulator would intervene to stabilize the forex market.
Vietcombank, the largest forex trader in the country, reduced the price of the greenback by 20 dong to 22,670 for buying and 22,770 for selling. The quote was revised up to respective 22,680-22,780 in the afternoon.
State Capital Investment Corporation (SCIC
), the government’s investment arm, will launch a competitive offering for 130.63 million shares, equivalent to a 9% stake, of Vinamilk
on December 12.
SCIC, which holds a 45% stake in the dairy producer, will pitch the share sale and take bids for the shares between November 28 and December 9.
A recent rally of Hanoi Beer Alcohol Beverage Corp (Habeco) shares has been driven by speculative buying as the government prepares for divestment from the brewery firm, Carlsberg Vietnam told Bloomberg News.
The surge in the firm’s share price doesn’t accurately reflect the underlying value of the business as it’s “mainly due to speculative buying on very thin volume,” said Tayfun Uner, chief executive officer of Carlsberg Vietnam.
CJ Group's content and marketing arm CJ E&M has partnered with Vietnam-based agency Blue Group to form a joint venture named CJ Blue, with the aim of boosting cooperation in media, advertising, events and cinema, Campaign Asia reported, without specifying financial details.
“Vietnam has great potential in cultural and entertainment content,” said Kim Sung Su, CEO of CJ E&M in a statement. “With CJ Blue, we can provide leading human resources and creative services to customers and interesting entertaining programs.”
Foreign-invested enterprises in Vietnam posted a trade surplus of $18.24 billion in the year to November 15, helping the Southeast Asian country gain a surplus of $2.66 billion, according to customs data.