Vietnam: Police Arrested Vinalines’ Executives
May 19, 2012 (Vietnamica) — Police has detained Mai Van Phuc (former CEO, currently Deputy Director of Transportation Department, Ministry of Transport), Tran Huu Chieu (vice CEO of Vinalines, deputy Secretary of Communist Party Committee at Vinalines). The Police also tried but failed to arrest Duong Chi Dung, former chairman of Vinalines and currently head of Maritime Department, MoT. Dung did not appear in both his office and home (Lao dong, May 19).
Tan Tao and Associated Companies Face DifficultiesApril 17, 2012 (Vietnamica) – Tan Tao and associated companies are facing difficulties.
March 29, 2012 (Vietnamica) – Vincom (HSX: VIC) has released that the company raised US$185 million oversea, 5-year, convertible corporate bonds at an annual coupon rate of 5 percent. The bonds are listed on Singapore Stock Exchange. Coupons are paid every six moths. Holders are able to convert the bonds into Vincom’s stock at an exercise price of VND112,200 per share after 41 days of issuance (DDDN, Mar 29).
Keangnam Vina to Give up Operation, Management, Maintenance Services at Keangnam Tower
March 29, 2012 (Vietnamica) – Korean FDI Keangnam Vina has asked Hanoi People Committee to replace them by other building operation, management, and maintenance services provider by April 1. This decision is resulted from long-standing dispute between Keangnam Vina and residents of Keangnam Tower over service fees. Keangnam Tower is one of the highest, best quality, and most expensive building in Vietnam (VnExpress, Mar 28).
SMBC and Citi to Finance $270 Mln Hanoi-Hai Phong HighwayFeb 23, 2012 (Vietnamica) — The State Bank of Vietnam announced that on Feb 22, 2012 in Tokyo, the government’s development lending arm – Vietnam Development Bank VDB – signed a new credit agreement with Japan’s SMBC and America’s Citibank.
Feb 16, 2012 (Vietnamica) — On Feb 10, State Bank of Vietnam and Asian Development Bank – a regional multi-donor funded lender – signed a credit agreement, following which Vietnam would receive $1,121 million loans for expanding the national grid.
