Vietnam

Guangzhou Buon Ma Thuot Coffee Offers US$860,000 for Two Vietnamese Coffee Brands

April 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).

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April 18: Cambodian Stock Exchange Starts Trading

April 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).

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Insurance Australia Acquires Vietnam’s AAA Assurance

April 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).

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Tan Tao and Associated Companies Face Difficulties

April 17, 2012 (Vietnamica) – Tan Tao and associated companies are facing difficulties.

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Vietnam: Central Bank Cuts Rates by 1 Pct

April 11, 2012 (Vietnamica) – The State Bank of Vietnam on Apr 10 issued Decision No 693/QD-NHNN to lower deposit rate ceiling to 12 percent per annum. In addition, refinancing, discount, and overnight interest rates are cut by 1 percent to respectively 13%, 11%, and 14%. The new rates shall be applied on April 11 (DTCK, Apr 11).

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ADB: Vietnam has Foreign-exchange Reserves of US$17 Bln

April 11, 2012 (Vietnamica) – Asian Development Bank’s expert Dominic Mellor estimates that Vietnam’s foreign-exchange reserves have risen sharply in 2011. By the end of Q1.2012 the country’s reserves reached US$17 billion, representing an increase of US$3.5 billion, in comparison with IMF’s estimation released in mid-2011 (VnExpress, Apr 11).

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