Vietnamese billionaire reaffirms steadfast commitment to EV maker VinFast

Vietnamese billionaire reaffirms steadfast commitment to EV maker VinFast

Vietnam’s richest man, billionaire Pham Nhat Vuong, says he personally and the conglomerate that he chairs, Vingroup, will continue financing VinFast despite heavy losses incurred by the EV-maker since 2017.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vinhomes targets after-tax profit of $1.38 bln in 2024 as market warms up

Vinhomes targets after-tax profit of $1.38 bln in 2024 as market warms up

Vinhomes, a major housing developer under private conglomerate Vingroup, targets to earn an after-tax profit of VND35 trillion ($1.38 billion) this year, up 4.4% year-on-year, given more positive signals from the local real estate market.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

ESG rules must be tightened to unlock green capital flows: HSBC exec

ESG rules must be tightened to unlock green capital flows: HSBC exec

Lam Thuy Nga, country head of large corporate, wholesale banking at HSBC Vietnam, shares her thoughts from the Vietnam Connect Forum 2024.

Consulting - Mon, Dec 22, 2021 | 11:30 am GMT+7

VinFast begins sales of VF DrgnFly electric bike in United States

VinFast begins sales of VF DrgnFly electric bike in United States

VinFast, the electric vehicle (EV) arm of Vietnamese conglomerate Vingroup, will begin selling its VF DrgnFly electric bike in the U.S. later this month, with a listed price of $2,599, the EV maker said Friday.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

New players intertwine at Vincom Retail

New players intertwine at Vincom Retail

Vietnamese conglomerate Vingroup has divested a 55% stake in SDI, which indirectly holds a 41.5% stake in Vincom Retail JSC via its subsidiary Sado Trading JSC.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam EV maker VinFast opens first dealership in Indonesia

Vietnam EV maker VinFast opens first dealership in Indonesia

Indonesian firm PT Gallerie Setia Utama has opened the country’s first VinFast dealership, marking a milestone for the Vietnamese electric vehicle (EV) maker.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Berjaya Vietnam CEO nominated to Vincom Retail board of directors

Berjaya Vietnam CEO nominated to Vincom Retail board of directors

Nguyen Hoai Nam, CEO of Berjaya Vietnam, subsidiary of Malaysian conglomerate Berjaya Corporation Berhad, has been nominated to the board of directors of Vincom Retail JSC for the 2023-2028 tenure.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Singapore sovereign fund GIC divests from Vietnamese consumer giant Masan

Singapore sovereign fund GIC divests from Vietnamese consumer giant Masan

A group led by Singaporean sovereign fund Government of Singapore (GIC) has cut its ownership in Vietnam’s leading consumer goods manufacturer and retailer Masan Group to below 5%, losing its status as a major shareholder.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

VinFast to attend motor shows in Thailand, Canada, sell EVs in Africa

VinFast to attend motor shows in Thailand, Canada, sell EVs in Africa

VinFast, the electric vehicle (EV) arm of Vietnamese conglomerate Vingroup, will attend international motor shows in Thailand and Canada, and attempt to break into the African market this year.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Sumitomo, Vingroup ink green transport development pact

Sumitomo, Vingroup ink green transport development pact

Japanese keiretsu Sumitomo and taxi operator GSM JSC uder Vietnamese conglomerate Vingroup inked a green transportation development agreement on Tuesday to foster carbon neutrality in Vietnam.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam outbound investment shrinks 78% to $25 mln in Jan-Feb

Vietnam outbound investment shrinks 78% to $25 mln in Jan-Feb

Outbound investment by Vietnamese companies plunged 78.3% year-on-year to $25 million in the first two months of this year, all via fresh projects, the Ministry of Planning and Investment said.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vinhomes land portfolio at 18,152 ha for 30-year use: broker

Vinhomes land portfolio at 18,152 ha for 30-year use: broker

Vinhomes JSC, the real estate arm of private conglomerate Vingroup, has a land portfolio of 18,152 hectares for developing property projects over 30 years, according to Shinhan Securities.

Real Estate - Mon, Dec 22, 2021 | 11:30 am GMT+7

VinFast begins building $500 mln EV factory in India

VinFast begins building $500 mln EV factory in India

VinFast Auto, the electric vehicle (EV) arm of Vietnamese conglomerate Vingroup, officially broke ground on its first integrated EV manufacturing facility in the state of Tamil Nadu, India, on Sunday.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

VinFast's 2023 vehicle sales up 111% to $1.1 bln

VinFast's 2023 vehicle sales up 111% to $1.1 bln

VinFast Auto, the electric vehicle (EV) arm of Vietnamese conglomerate Vingroup, earned $1,096.9 million from vehicle sales in 2023, up 111.3% year-on-year.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam automaker VinFast inks EV supply deal with Indonesian firms

Vietnam automaker VinFast inks EV supply deal with Indonesian firms

VinFast, the carmaker subsidiary of Vietnamese conglomerate Vingroup, has signed a memorandum of understanding (MoU) with three Indonesian business clients to provide 600 electric vehicles.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

VinFast links up with 5 Indonesia auto dealers to start sales in 2024

VinFast links up with 5 Indonesia auto dealers to start sales in 2024

VinFast, the electric vehicle arm of Vietnamese conglomerate Vingroup, has signed letters of intent with five dealers in Indonesia to expand its distribution network in the Indonesian market, the EV maker announced Friday.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam corporate bond market size may rise 150% to hit $100 bln: minister

Vietnam corporate bond market size may rise 150% to hit $100 bln: minister

Vietnam's total outstanding corporate bonds issued via private placements may reach VND2,500 trillion (roughly $102 billion), or 25% of the country’s GDP, considerably up from the current 10% of GDP, said Minister of Finance Ho Duc Phoc.

Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7

VinFast debuts right-hand drive electric vehicles in Indonesia

VinFast debuts right-hand drive electric vehicles in Indonesia

VinFast, the electric vehicle (EV) arm of Vietnamese conglomerate Vingroup, debut its first range of right-hand drive electric vehicles (EV) at the Indonesia International Motor Show (IIMS) 2024 on Thursday.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

VinFast expects 40,000-50,000 vehicle sales by year-end: executive

VinFast expects 40,000-50,000 vehicle sales by year-end: executive

VinFast, the electric vehicle (EV) arm of Vietnamese conglomerate Vingroup, expects sales of 40,000-50,000 units by year-end, chairwoman Le Thi Thu Thuy told CNBC in an interview on Thursday.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vinhomes biggest net profit earner among Vietnam’s listed firms

Vinhomes biggest net profit earner among Vietnam’s listed firms

Vinhomes, the housing development arm of private conglomerate Vingroup, earned a consolidated net profit of VND33.13 trillion ($1.36 billion) in 2023.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vincom Retail posts record consolidated net profit of $180 mln in 2023

Vincom Retail posts record consolidated net profit of $180 mln in 2023

Vincom Retail JSC, the largest mall operator in Vietnam, earned a consolidated after-tax profit of VND4.41 trillion ($180.5 million) in 2023, its all-time high.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vingroup earns consolidated net profit of $84.5 mln in 2023

Vingroup earns consolidated net profit of $84.5 mln in 2023

Vingroup, Vietnam’s largest private conglomerate, earned a consolidated net profit of VND2.05 trillion ($84.5 million) in 2023, representing a decrease of 76.5% year-on-year.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Philippines seeks collaboration with Vietnam’s VinFast in EV production: President Marcos

Philippines seeks collaboration with Vietnam’s VinFast in EV production: President Marcos

The Philippines “eagerly anticipate collaborating with Vingroup on electric vehicle (EV) production and local mineral processing,” Philippine President Ferdinand Marcos Jr. said on his Facebook on Monday.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnamese carmaker VinFast delivers 34,855 electric vehicles globally

Vietnamese carmaker VinFast delivers 34,855 electric vehicles globally

Vietnam’s VinFast Auto delivered 34,855 electric vehicles (EV) around the world in 2023, according to a filing with U.S.-based stock exchange Nasdaq.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

VinFast unveils new electric pickup truck concept in US

VinFast unveils new electric pickup truck concept in US

VinFast Auto, Vietnam's leading electric vehicle manufacturer, on Tuesday unveiled its new electric vehicle concept - the VF Wild - at the Consumer Electronics Show 2024 (CES 2024) in the U.S.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

EV maker VinFast to build $500 mln facility in India, towards $2 bln investment

EV maker VinFast to build $500 mln facility in India, towards $2 bln investment

VinFast, the electric vehicle arm of Vietnamese conglomerate Vingroup, will build a $500 million EV facility in Tamil Nadu state of India, towards a total investment of $2 billion.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vingroup founder Pham Nhat Vuong becomes CEO of EV maker VinFast

Vingroup founder Pham Nhat Vuong becomes CEO of EV maker VinFast

Billionaire Pham Nhat Vuong, founder and chairman of Vietnamese conglomerate Vingroup, has become CEO of VinFast, the electric vehicle (EV) arm of Vingroup.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam real estate industry carries great M&A potential: execs

Vietnam real estate industry carries great M&A potential: execs

There is high potential for M&A transactions in Vietnam’s real estate sector across all segments, particularly industrial property, industry insiders said at a forum Tuesday.

Industrial real estate - Mon, Dec 22, 2021 | 11:30 am GMT+7

Hospitality arm Vinpearl separates from Vingroup

Hospitality arm Vinpearl separates from Vingroup

Vietnam’s largest private conglomerate Vingroup has announced it will separate from its hospitality arm Vinpearl and set up a new subsidiary in a move to restructure its member companies and improve business operations.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Automaker VinFast not subject to lawsuits in US: executive

Automaker VinFast not subject to lawsuits in US: executive

Electric vehicle (EV) maker VinFast under Vietnamese private conglomerate Vingroup is not currently subject to any lawsuits in the U.S., said Ho Ngoc Lam, head of Vingroup's legal board and deputy CEO in charge of legal issues at VinFast.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Singapore CapitaLand announces $740 mln residential project in Hanoi

Singapore CapitaLand announces $740 mln residential project in Hanoi

CapitaLand Development, the development arm of Singapore-headquartered CapitaLand Group, will begin construction of a high-end residential project in Hanoi in the first quarter of 2024.

Real Estate - Mon, Dec 22, 2021 | 11:30 am GMT+7

Manufacturing investments bolster Vietnam's real estate performance

Manufacturing investments bolster Vietnam's real estate performance

Despite the global economic slowdown, Vietnam's real estate performance remains robust with significant appeal for foreign manufacturing investors, property services firm Savills said in its Asia Pacific Investment Quarterly Report.

Real Estate - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam conglomerate Vingroup issues int’l bonds worth $250 mln

Vietnam conglomerate Vingroup issues int’l bonds worth $250 mln

Vingroup has completed an issuance of international non-convertible bonds worth $250 million, the Vietnamese private conglomerate said Thursday.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

VN-Index records sharpest fall in 2 months

VN-Index records sharpest fall in 2 months

Vietnam's benchmark VN-Index on Thursday fell 46.21 points, or 4.19%, to 1,055.45, marking its strongest fall since August 18.

Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam's largest private firm Vingroup posts record revenue of nearly $2 bln in Q3

Vietnam's largest private firm Vingroup posts record revenue of nearly $2 bln in Q3

Vingroup reported record revenue of VND47.95 trillion ($1.95 billion) in the third quarter of 2023, a year-on-year increase of 66.5%.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7