April 21, 2012 (Vietnamica) — After mulling for a year, Laos has rejected a bid by a company from China to build a rare earth minerals plant in the Southeast Asian state, citing the company’s refusal to disclose the source of its minerals and potential adverse environmental impact (RFA, Apr 20).
Vietnam: Securities Firms Report Profits in Q1 as Markets Rebound
April 21, 2012 (Vietnamica) – Vietnam’s stock markets have rebind in the first quarter of 2012. As stock prices and trading volumes keep going up, securities firms are enjoying increasing brokerage revenues and improving portfolios. In addition, the firms are able to reduce provisions against short-term investment risks that also help improves their performance.
April 19, 2012 (Vietnamica) — Vietnam started operations at its first wind power plant, a 30 megawatt project in the southern province of Binh Thuan. The US$96 million (2 trillion dong) plant, consisting of 20 turbines, is projected to supply about 85 million kilowatt-hours of electricity per year (Bloomberg, Apr 19).
Guangzhou Buon Ma Thuot Coffee Offers US$860,000 for Two Vietnamese Coffee BrandsApril 19, 2012 (Vietnamica) — Guangzhou Buon Ma Thuot Coffee has offered Minh An Co-operative (Duc Minh commune, Dak Mil district, Dak Nong province) VND18 billion – approximately US$860,000 – for two Vietnamese coffee brands of ‘Coffee Duc Lap Minh An’ and ‘Coffee Duc Lap Dakmil’. Minh An has already registered the two brands in Vietnam, China, and the United States (Vietnamica Finance, Apr 18).
April 18: Cambodian Stock Exchange Starts TradingApril 18, 2012 (Vietnamica) – The Cambodian Stock Exchange starts trading on April 18 with the only stock – Phnom Penh Water Supply Authority. From April 19, stocks will trade between 8 a.m. and 11:30 a.m. in Phnom Penh with prices being quoted twice a day (Bloomberg, Apr 18).
Insurance Australia Acquires Vietnam’s AAA AssuranceApril 17, 2012 (Vietnamica) — The Sydney-based Insurance Australia Group Ltd., (IAG) agreed to buy 30 percent stake in Ho Chi Minh city based AAA Assurance Corp. The deal value is less than US$20.7 million and the acquirer has option to raise its holding to 49 percent. The investment is subject to regulatory approval and is expected to be completed by June 2012 (Bloomberg, Apr 17).
