Hoang Anh Gia Lai asks police to investigate rumours

Hoang Anh Gia Lai group on Friday asked the State Bank of Viet Nam and the Economic Security Protection Agency under the Ministry of Public Security to take measures to protect the interests of its over 2,000 shareholders from false rumours.
The group’s Chairman Doan Nguyen Duc said those who have deep knowledge of finance can know of the group’s “health” through its reports, but not many people have access to official information so they might be influenced by rumours. “So we have had to ask appropriate authorities to take measures to protect the legal interests of our shareholders,” Duc said.
Duc said in recent days he had received many phone calls from friends and the press asking about the group’s banking loans. It was even rumoured that he had been put under house arrest because his company owed banks hundreds of billion dong. Actually, Duc was abroad in his own aircraft; meanwhile, the price of Hoang Anh-Gia Lai shares hit the ceiling levels in five consecutive trading sessions.
“I’m holding 55% of Hoang Anh Gia Lai’s shares worth around VND6 trillion ($352.94 million). At the current value of my shares in the stock market, I’m the richest man in the stock market of Viet Nam,” he said.
He affirmed that Hoang Anh Gia Lai doesn’t have any overdue debt. Compared to its net assets worth VND17.1 trillion, its medium- and short-term loans of VND2,514 billion are diminutive.
“I think such rumours came from Hoang Anh Gia Lai’s rivals in order to affect the prestige of myself and my group,” Duc said. (VNE)

Vietnam To Privatize BIDV Bank In 2009

State-run Bank for Investment and Development of Viet Nam, or BIDV, will be privatized within 2009, the government said Monday in a statement.
Deputy Prime Minister Nguyen Sinh Hung has approved Dec. 31 as the bank's valuation date, the government said.
BIDV currently has registered capital of VND7.49 trillion ($440 million), according to the State Bank of Vietnam's Web site. (Dow Jones)

Vietnam licenses Hong Leong Bank, Shinhan Bank

Viet Nam has allowed South Korea's Shinhan Bank and Malaysia's Hong Leong Bank Berhad to set up fully owned subsidiaries in the country, the central bank said in a statement Monday.

Under the licence, Shinhan Bank, a unit of Shinhan Financial Group, will open Shinhan Vietnam Bank with a capital base of 1.67 trillion dong, or nearly US$100 million.

Hong Leong Bank Bhd will establish Hong Leong Vietnam with a capital base of 1 trillion dong, or nearly US$60 million, the central bank said in a statement.

Shinhan Viet Nam Bank will have registered capital of nearly 100 million dollars while Hong Leong Viet Nam will have registered capital of almost 60 million dollars, the State Bank of Viet Nam (SBV) said in an online announcement.

Based in Ho Chi Minh City, the banks will provide services in capital mobilisation, credit, payment and other fund services, SBV said.

Viet Nam has committed to opening up its banking sector after joining the World Trade Organisation in 2007, and has already licensed HSBC, Standard Chartered and ANZ to set up 100-percent-owned local subsidiaries. (AFP)

SCIC to auction 16,218 shares of Hai Duong shoemaker

State Capital Investment Corp (SCIC) will organise a public auction for 16,218 shares out of 54,060 shares at 100,000 dong par of the state capital in Hai Duong Shoes Joint Stock Co with the starting price of 125,000 dong per share.
The firm has a chartered capital of 10.6 billion dong.
The remainder of state owned shares will be sold to Hai Duong shoemaker's employees with the average winning price.
The share auction will be held at Vincom Securities Co, No 191 Ba Trieu St, Hanoi.

EAB to launch SMS Banking for credit card customers

Eastern Asia Commercial Joint Stock Bank (DongA Bank - EAB) recently announced that from December 29 it would launch SMS Banking services and internet Banking for credit card. This solution will bring a sense of security to credit account users.
Thanks to these services, credit card owners can check their accounts via mobile phones. At the same time, they can check transactions and funds transfer and other banking services.