Bad debts at Vietnam Development Bank (VDB) by the end of 2010 had reached over VND38.1 trillion, accounting for 12.57% of its total outstanding loans, according to the Government Inspectorate. The Government Inspectorate has focused on detecting the violations of the State-run bank in capital mobilization, debt classification, lending for investment and export, risk management and guarantee for loans... 

The Vietnamese government’s latest bond auction has proved a failure with buyers put off by the high coupon rates on offer. Last Thursday’s government bond auction finished with VND100 billion ($4.8 million) changing hands out of State Treasury’s total of VND1 trillion ($48.3 million) in three-year bonds. None of VND1 trillion worth of five-year bonds on offer was sold. A Vietcombank source... 

However, the more bond issuers lift their offered yields, the more successful the auctions will be. Traders have returned to government bonds after issuers raised offered yields. On April 21, VND350 billion ($17.5 million) worth of three-year bonds were taken at a 12.3 per cent, per year yield and VND301 billion ($15 million) worth of five-year bonds were taken at yield of 11.9 per cent, per year.... 

Masan Group Corporation (MSN), one of Vietnam’s largest private sector business groups, announced on January 24 the successful investment from funds advised by Mount Kellett Capital Management LP, a multi-billion dollar US-based private equity group, into Masan Resources. As part of the transaction Mount Kellett will invest $100 million for a 20 per cent stake in Masan Resources. Masan Group will... 

This publication is partly cited from FineIntel’s Industry Update. Our monthly industry update is a publication designed to provide meaningful insight into today’s industries in Vietnam. We encourage our readers to submit suggestions for topics that they would like see covered in future issues. While FineIntel can not cover each and every topic, we will do our best to provide the fullest coverage... 

HCMC – Citibank on Monday signed a memorandum of understanding on cooperation with Vietnam Development Bank (VDB) in sectors such as mobilization, international payment, treasury, cash management, and training. According to Citibank’s statement, through the cooperation, VDB can effectively make use of Citibank’s relationship with institutions on global capital markets, and its technology and...