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In late January 2007,United Overseas Bank (UOB) acquired a 10 percent stake in Vietnam’s Southern Commercial Joint Stock Bank for 30 million dollars. Around the same time,HSBC has agreed to double its stake in Vietnam’s Techcombank to 20 percent in an 85-million-dollar deal,pending government approval. Now,Deutsche Bank plans to buy [...] Reported in The Star (30/1/07),Gamuda Land Sdn Bhd,a unit of Gamuda Bhd,has made its maiden foray into Vietnam with a proposed 800-acre fully integrated commercial development project. This development is complemented with a 250-acre botanic park,and positioned beside a 325-acre lake system. Here,Gamuda is going into the project as a joint-venture [...] Interestingly,Furniweb Manufacturing ( Vietnam) Co Ltd (FMV) which is a subsidiary of Malaysian public listed company,Furniweb Industrial Products Bhd was reported in The Star (22/1/07) to explore listing in Vietnam vide the Ho Chi Minh City Securities Trading Centre. Also,this might be the first time that a Malaysian corporate is looking into [...] Real estate is heating up with economic expansion driving investment and demand. This is further boosted by the entry by Vietnam as a member of World Trade Organisation and the permanent normal trade relations with the US. As private investments –backed by the new free trade environment –and public infrastructure spending increase,Government [...] Reported in The Star (13/1/2007) pertaining to real estate developments into Vietnam: Vietnam generally being perceived as the next Thailand in terms of real estate appeal;tagged as the “new frontier”,“second China”,“next Thailand”. With that,investors,largely property developers,are slowly but surely flocking into Vietnam;economy grew 8.4% last year and the [...] |  FCCA,CA(MIA)with more than 26 years of post-qualifying working experiences. Previous working stints with one of the big accounting four,Regional GFC & Group Treasurer in a group of Malaysian and Group CFO in Singapore public listed concern.Also author to another very popular free educational accounting cum finance blog:http://basiccollegeaccounting.com under the branding of College Accounting Coach. | |||||
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