Vietnam’s VPBank has Chinese newcomer with 1.15% stake
China-incorporated Tianhong Vietnamese Market Equity Launched QDII Fund has become the latest shareholder with ownership of above 1% in Hanoi-based VPBank.
Tianhong Vietnamese Market Equity Launched QDII Fund held 91.07 million shares of VPBank (HoSE: VPB) as of August 20, or a 1.1479% stake, according to the bank’s updated list of shareholders.
Data from Bloomberg shows that the fund is an open-ended fund tracking the VN30 Index, comprising the 30 biggest blue chips on the Ho Chi Minh Stock Exchange (HoSE). The fund invests at least 80% of its total assets in equities, at least 80% of non-cash assets in Vietnam-related stocks and depository receipts.
Meanwhile, Composite Capital Master Fund LP, a hedge fund registered in the Cayman Islands, has reduced its ownership in VPBank to 1.7029% as of August 20 from the 2.73% as of July 19.
In February 2020, this fund bought another 7.3 million shares of VPBank, raising its holding to 5.15% in the Vietnamese lender. It became the biggest and sole major shareholder in the bank.
A list released by VPBank on July 17 showed that the bank had 13 individuals and four institutional investors owning more than 1% each in the bank. They combined held a 64.2% stake.
Sumitomo Mitsui Banking Corporation is the sole foreign strategic investor with a 15% stake.
VPBank earned a consolidated net profit of VND7,125 billion ($284.8 million) in H1/2024, up 27.3% year.
As of June 30, the bank had total assets of VND864,392 billion ($34.55 billion), up 5.7% from end-2023.
VPB shares closed flat at VND18,750 ($0.75) apiece on Friday.
- Read More
Vietnam among eight ‘strategic’ countries to join US semiconductor workforce development initiative
Vietnam and seven other “strategic countries” have been selected to join a U.S. initiative designed to enhance semiconductor capabilities and supply chain resilience worldwide.
Economy - Wed, September 11, 2024 | 3:49 pm GMT+7
Vietnam pharma firm Bidiphar’s stock attracts institutional investors
Several organizations and investment funds have continuously registered to buy DBD shares of Vietnamese pharma major Binh Dinh Pharmaceutical Medical Equipment JSC (Bidiphar) since last June.
Companies - Wed, September 11, 2024 | 3:26 pm GMT+7
Russia’s Gazprom to support Vietnam growth with LNG supply: exec
Russian state-owned energy giant Gazprom will support Vietnam’s socioeconomic growth with LNG supplies, vice chairman Vitaly Markelov said Tuesday.
Energy - Wed, September 11, 2024 | 2:31 pm GMT+7
Heineken value chain halves to 0.5% of Vietnam GDP in 2023
Heineken Vietnam’s value chain added value equivalent to 0.5% of GDP to the economy in 2023, according to the brewer’s sustainability report 2023 released Tuesday.
Companies - Wed, September 11, 2024 | 10:56 am GMT+7
Red River floods exceed warning level 2, disaster risk elevated in Hanoi
Flood levels on the Red River in Hanoi have surpassed warning level 2, triggering a level 2 natural disaster risk alert.
Society - Wed, September 11, 2024 | 8:44 am GMT+7
Super typhoon Yagi damage leads to over 1,750 non-life insurance claims
Insures in Vietnam had received 1,754 claims against property and vehicle damage caused by super typhoon Yagi as of Tuesday afternoon.
Society - Wed, September 11, 2024 | 8:39 am GMT+7
AI can be a game changer for Vietnam tourism
Artificial intelligence can play a pivotal role in enhancing both operational efficiency and customer experience in the tourism industry, writes Dr Nuno F. Ribeiro, a senior lecturer at RMIT University and chairman of the tourism and hospitality sector committee at Eurocham Vietnam.
Consulting - Wed, September 11, 2024 | 8:15 am GMT+7
Citi-led consortium completes $521.5 mln loan for PV Power’s LNG power plants
A consortium led by Citi has completed a $521.5 million loan for PV Power, the power generation arm of state-owned energy giant Petrovietnam.
Banking - Tue, September 10, 2024 | 10:50 pm GMT+7
Philippines’ rice imports up 19% in eight months
Rice imports to the Philippines amounted to 2.8 million metric tonnes (MT) during the first eight months of this year, 19% higher than the 2.3 million in the same period last year, data from the country's Department of Agriculture (DA) showed.
Southeast Asia - Tue, September 10, 2024 | 9:54 pm GMT+7
Thailand’s daily wage increase plan sets to go ahead
Thai Labour Minister Phiphat Ratchakitprakarn has revealed that the country’s move to raise the minimum wage nationwide to THB 400 ($11.7) a day will be started from Oct. 1 despite concerns that the rise will harm businesses.
Southeast Asia - Tue, September 10, 2024 | 9:52 pm GMT+7
Thai tourism sector urged to brace for the worst
Tourism operators have warned Minister of Tourism Sorawong Thienthong to brace for a global economic downturn and fiercer competition next year, urging the government to start planning for the worst-case scenario from this year.
Southeast Asia - Tue, September 10, 2024 | 9:51 pm GMT+7
Indonesia, Singapore seal deal on renewable energy export
Indonesia signed an agreement to export renewable energy to Singapore, during the recent International Sustainability Forum (ISF) in Jakarta.
Southeast Asia - Tue, September 10, 2024 | 9:48 pm GMT+7
Thai baht volatility increases
The Thai baht has been experiencing a greater degree of volatility against the U.S. dollar than its regional peers, mainly due to market expectations of a U.S. policy rate cut and global gold prices.
Southeast Asia - Tue, September 10, 2024 | 9:47 pm GMT+7
Percentage of travellers refused entry into Singapore rises
Since automated immigration lanes were introduced for all foreigners at Singapore’s Changi Airport in May this year, a higher percentage of travellers have been refused entry into the country.
Southeast Asia - Tue, September 10, 2024 | 9:45 pm GMT+7
Malaysia reaffirms neutral foreign policy
Malaysian Prime Minister Anwar Ibrahim said Malaysia enjoys better international recognition now due to strategic cooperation with major powers such as China and Russia.
Southeast Asia - Tue, September 10, 2024 | 9:43 pm GMT+7
Individual investors send new securities accounts to two-year high, near 2025 target
Vietnam recorded over 330,950 new securities accounts in August, increasing slightly from July (329,982) and marking the highest number since May-June 2022, according to Vietnam Securities Depository and Clearing Corporation (VSD).
Finance - Tue, September 10, 2024 | 8:33 pm GMT+7
- Consulting
-
Remove roadblocks to lure foreign investment into Vietnam: HSBC exec
-
Investment opportunities in LNG-to-power projects in Vietnam
-
Pepper prices 2024: will the dream of 'black gold' repeat?
-
Vietnam's new power development plan: Showing the path to a green future?
-
Hydrogen fuel in Vietnam: status and opportunity
-
Expert analysis of new national power development plan