Police launch latest raid on F88 transaction points in An Giang province
An Giang province police on Monday simultaneously checked compliance with the law of all transaction points owned by Vietnamese financial services firm F88 in the locality.
F88 operates 20 transaction points across 11 districts and towns in the Mekong Delta province. Two branches serve as head offices: one in Long Xuyen town and one in Chau Phu district.

Police raid F88's head office in Tran Hung Dao street, Long Xuyen town, An Giang province, southern Vietnam. Photo courtesy of An Giang police.
Police have administratively inspected their observance of security and order requirements as prescribed by the government for conditional business lines; management books, data storage, and business operations; and legal obligations in terms of loan contracts, collaterals, asset deposits, and interest rates.
Functional agencies temporarily seized papers, documents and archived data for further investigation, verification, clarification and handling in accordance with the law.

Police inspect 13 transaction points of F88 in Can Tho city, southern Vietnam. Photo courtesy of Can Tho police.
Similarly, Can Tho province police last Saturday conducted simultaneous inspections of F88's 13 transaction points.
Can Tho and An Giang is the third and fourth locality after Ho Chi Minh City and Soc Trang province where F88 has been subject to inspections. An Giang, Can Tho and Soc Trang are Mekong Delta provinces in southern Vietnam.

Can Tho is the third locality after Ho Chi Minh City and Soc Trang province where F88 has been subject to inspections. Photo courtesy of Can Tho police.
HCMC police searched the headquarters of F88 in Go Vap district on March 6 morning on suspicion of property appropriation. According to a HCMC police source, F88, which operates a large-scale lending system, has been accused of threatening borrowers and property appropriation.
In response to the charges, an F88 representative issued a statement saying that authorities were looking into the actions of a single employee.
F88 currently has 800 transaction points, 2,000 employees and is aiming to expand to 1,000 transaction points in all 63 provinces and cities across Vietnam, according to information posted on its website.
On March 2, the company announced it had raised a series C investment of $50 million led by Vietnam-Oman Investment Fund and Mekong Enterprise Fund IV to further expand its distribution network nationwide and its digital business ahead of an initial public offering planned for next year.
“The capital will serve to complete three projects: upgrading information technology systems, expanding points of sale, and improving the quality of human resources,” said F88 chairman and CEO Phung Anh Tuan.
In 2022, F88 received $70 million in international loans, with $60 million from the Hong Kong-headquartered CLSA Capital Partners and $10 million from the London-based Lendable.
It has also partnered with international banks like CIMB Vietnam and Kasikornbank, one of the three largest banks in Thailand, to distribute comprehensive financial products in Vietnam, including mortgages.
F88 has achieved an average annual growth rate in loan balance and total revenue of more than 200%, the firm said, adding it is eyeing an IPO next year if its market capitalization reaches $1 billion.
- Read More
Malaysia highlights roles of ASEAN, BRICS in regional cooperation
Malaysian Foreign Minister Mohamad Hasan is scheduled to deliver a speech at a dedicated session themed “The Role of the Global South in Reinforcing Multilateralism,” held as part of the BRICS Ministers of Foreign Affairs Meeting in Rio de Janeiro, Brazil, from April 28-29.
Southeast Asia - Mon, April 28, 2025 | 10:10 pm GMT+7
Singapore negotiates for US concessions on pharmaceuticals, chips
Singapore is negotiating concessions for pharmaceutical exports to the U.S. while ensuring it still has access to high-end AI chips from the American market, said Singaporean Trade and Deputy Prime Minister Gan Kim Yong.
Southeast Asia - Mon, April 28, 2025 | 10:03 pm GMT+7
Vietnam’s leading IP builder Idico applies for major bourse listing, targets $100 mln pre-tax profit
Idico Corporation, a major industrial park developer in Vietnam, has applied for listing its shares on the Ho Chi Minh Stock Exchange (HoSE) and kept its 2025 business plan unchanged with a pre-tax profit target of VND2.6 trillion ($100 million).
Companies - Mon, April 28, 2025 | 9:53 pm GMT+7
Property giant Sun Group commences work on $1.35 bln spiritual tourism complex in central Vietnam
Sun Group, Vietnam's leading real estate developer, on Saturday broke ground on its Am Tien spiritual and historical tourism complex project in the central province of Thanh Hoa.
Real Estate - Mon, April 28, 2025 | 9:30 pm GMT+7
Vietnam's SHB bank records 'fastest growth in customer satisfaction' for 2 straight years
In the Bank Satisfaction Rankings 2025, Saigon-Hanoi Bank (SHB) not only makes it to the top 10 but also stands out as the bank with fastest growth in customer satisfaction for two consecutive years.
Companies - Mon, April 28, 2025 | 4:19 pm GMT+7
India's KCP Limited to inject extra $60 mln into sugar, biomass power plants in south-central Vietnam
Indian-invested KCP Vietnam Industries Limited has proposed raising the capacity of its Son Hoa sugar plant to 15,000 tons of sugarcane per day and deploying the 45 MW second phase of its 75 MW KCP Phu Yen biomass power plant, both in Phu Yen province.
Industries - Mon, April 28, 2025 | 3:35 pm GMT+7
Central Vietnam hub Danang eyes country's 'first urban complex on the sea'
The central city of Danang is studying an urban complex project on Da Nang Bay, with five floating islands - home to an international service, commercial and financial center complex.
Real Estate - Mon, April 28, 2025 | 1:49 pm GMT+7
Private equity firm Creador acquires 13% of Vietnam’s Long Chau pharmacy chain
Creador Sdn. Bhd., a private equity firm headquartered in Malaysia, has acquired a 13% stake in FPT Long Chau Investment JSC, one of Vietnam’s largest pharmacy chains and a subsidiary of retail major FPT Retail.
Companies - Mon, April 28, 2025 | 12:00 pm GMT+7
Major Vietnamese contractor Hoa Binh to raise $133 mln for bank, supplier payments
Hoa Binh Construction Group, one of Vietnam's top contractors, plans a private placement for up to 347 million shares, with an estimated total value of VND3.47 trillion ($133.4 million).
Companies - Mon, April 28, 2025 | 11:51 am GMT+7
Chocolate Alluvia celebrates Vietnam's Reunification Day with 4 HCMC stores to watch the parade
Xuan Ron Cho Gao Cocoa Co., Ltd., the maker of Alluvia Chocolate from Tien Giang province, is joining the celebration of Vietnam’s Reunification Day - April 30, with four stores favorably positioned around Nguyen Hue and Le Loi walking streets in District 1, Ho Chi Minh City.
Travel - Mon, April 28, 2025 | 8:57 am GMT+7
Two Vietnamese banks to list on stock exchanges in 2025
Vietnamese private lenders VietABank and KienlongBank are set to move their shares from the unlisted public companies market UPCoM to the Ho Chi Minh City or Hanoi stock exchanges in 2025.
Banking - Mon, April 28, 2025 | 8:24 am GMT+7
AI to reshape Malaysia’s economic landscape: expert
Artificial intelligence (AI) is set to significantly reshape Malaysia’s economic landscape, presenting not only challenges but also groundbreaking opportunities for growth, job creation, and innovation, according to an expert.
Southeast Asia - Sun, April 27, 2025 | 5:35 pm GMT+7
Vietnam's retail giant Mobile World to keep growing even if market stagnates: chairman
Mobile World Investment Corporation (MWG), a leading retailer in Vietnam, will continue to grow even if the market stagnates or retreats, said chairman Nguyen Duc Tai.
Companies - Sun, April 27, 2025 | 5:24 pm GMT+7
Japanese PM Ishiba arrives in Hanoi, beginning three-day visit
Japanese Prime Minister Ishiba Shigeru and his spouse, together with a high-level Japanese delegation, arrived in Vietnam on Sunday for a three-day official visit from April 27 to 29.
Economy - Sun, April 27, 2025 | 3:58 pm GMT+7
Thailand plans to inject $15 bln into economy
Thailand's Ministry of Finance aims to inject over THB500 billion ($15 billion) into the economy to boost the country's GDP growth by over 1.8%, focusing on stimulating consumption, investment, and providing soft loans.
Southeast Asia - Sun, April 27, 2025 | 1:54 pm GMT+7
New southern Vietnam plant to bring 'sustainable, long-term benefits' to Nam Kim Steel: chairman
Vietnamese steel major Nam Kim's 1 million-ton Phu My plant in the southern province of Ba Ria-Vung Tau is expected to create sustainable and long-term benefits for the company, said CEO Vo Hoang Vu.
Companies - Sun, April 27, 2025 | 1:42 pm GMT+7