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Quang Trung Software City in chair   2011-01-21 - VNS

The Quang Trung Software City (QTSC) has been chosen as the chair of the Asia-Oceania Regional Software Park Alliance (SPA) for 2011 at the annual SPA's congress, held in Malaysia last week.

This is the second year the QTSC has taken part in the SPA.

"It proves that Viet Nam's information and communications technology industry has strongly developed," said director of the QTSC Chu Tien Dung.

He also pointed out that 2011 would be a year full of opportunities for software park managers as the global economy recovers.

Software improves dairy management

HCM CITY — Dairy firm Nutifood are using the Enterprise Resource Planning (ERP) software Oracle E-Business Suite Release 12.1.2.

"This is our first specific software to manage our system and it has already increased productivity by 15 per cent and reduced 30 per cent of time wastage," said Tran Thi Le, CEO of Nutifood Corporation.

The software, which was started installing from June 2010, is used in all activities of the firm, from receivables, payables, cash management, assets, inventory management, purchasing, process manufacturing, order management, advanced supply chain planning and general ledgers.

Maritime Bank earns $81.2m in 2010

HA NOI — Maritime Bank earned a pre-tax profit of VND1.7 trillion (US$ 81.2 million) in 2010, 151 per cent over its 2009 figure, reaching 46 per cent of its yearly target.

As of December 31, the bank's total assets amounted to VND116 trillion ($5.5 billion), reaching 126 per cent of its yearly plan and up 181 per cent against the same period of 2009.

Central province to host coffee fest

DAC LAK — Buon Ma Thuot City, in the Tay Nguyen (Central Highland) province of Dak Lak will host the third Coffee Festival on March 10-13, announced Y Dham E Nuoi, vice chairman of the provincial People's Committee.

The four-day coffee festival will offer good opportunity for culture and trade promotion, speeding up local coffee exports and advertising the Buon Ma Thuot coffee and Viet Nam coffee brand in general, with the intention of promoting the sustainable development of the local coffee industry.

The fair is expected to feature local and foreign businesses displaying coffee products in 500 stalls.

Lunar New Year fair to open

HAI PHONG — ACS Co and the People's Committee of the northern port city of Hai Phong co-organised the Xuan Tan Mao Fair (Lunar New Year fair), which will run during January 19-25.

The fair attracts 100 local businesses to showcase Viet Nam-made and imported products in 200 booths. Trade promotional programmes will also be held during the fair.

Japanese firms get investment tick

DA NANG — The People's Committee of the central city of Da Nang issued investment licences for four Japanese firms on Tuesday.

Oishi, Amagasaki Seikan, Inoue Ribbon and Fukui Denka Koygo became the first foreign invested enterprises to receive investment licences in 2011. The projects are part of the Morino Group, a giant supplier of garment accessories for Adidas, Gucci, Nike and D&G.

Currently, around 55 Japanese enterprises are operating at six industrial parks in the area with an investment capital of US$300 million, generating jobs for over 15,000 local people.

DTY fibre plant opens in Tay Ninh

TAY NINH – The Century Synthetic Fibre Corp (CSF) on Tuesday inaugurated its second fibre plant at Trang Bang Industrial Park, in the southern province of Tay Ninh at a total investment cost of VND360 billion (US$18 million), after one year of construction.

The plant is expected to produce 11,000 tonnes of draw texture yarn (DTY) from partially oriented yarn (POY) and push the corporation's total revenue up to VND1 trillion ($53 million).

FrieslandCampina ups milk purchasing

HCM CITY – FrieslandCampina Viet Nam said it increased the milk purchasing price by VND500 to VND10,500 (US$0.50) on Wednesday.

This is the fourth increase in 10 months. The company said it would help farmers with the rise in input material costs. —VNS

PV Oil to auction Nam Viet Oil shares

HCM CITY — PetroVietnam Oil Corporation will auction over 3 million shares it holds in Nam Viet Oil Refinery and Petrochemicals Joint Stock Company on February 17, the HCM City Stock Exchange announced.

The auction price starts from VND18,600 (US$0.95) per share. Information about the auction, submission of applications and financial deposits will begin from January 24.

Nam Viet Oil has a charter capital of VND200 billion ($10.3 million), and produces petroleum and petrochemical solvents. Last year, it took VND524 billion ($26.9 million) in revenue and VND13.88 billion ($711,800) in net profit.

Thang Long Invest Group raises stake in fund

HA NOI — Thang Long Invest Group bought 600,000 shares of Thang Long Meritz Fund Management Co from Meritz Securities Co, raising its total holdings in the fund from 50 per cent to 70 per cent.

Following the deal, Thang Long Invest owns 2.1 million shares, with the Meritz brokerage firm reducing its stake from 40 per cent to 20 per cent, or 600,000 shares.

Seafood company to pay 30% cash dividend

HCM CITY — Ben Tre Aquaproduct Import and Export Co (ABT) set January 27 as the deadline for its shareholders to register to participate in 2010's second-phase dividend payout. The company expects to pay 30 per cent cash dividend on February 15.

Construction Lilama 10 Co (L10) also announced it planned to pay 2010's first-phase dividends in cash at a ratio of 8 per cent in the first quarter of this year. The total payout is estimated at over VND7.1 billion (US$365,100).

EVN to sell 19.6 million shares of Thac Mo

HCM CITY — Electricity of Viet Nam (EVN) registered to sell a 28-per-cent stake, or 19.6 million shares, in its HCM City bourse-listed Thac Mo Hydropower Co (TMP) from January 20 to February 26.

The group currently holds almost 56 million TMP shares, equivalent to over 79.9 per cent in the hydropower company.

Transactions will be carried out through a negotiation method and the capital raised from the sale will be invested in other projects.

Hoa Phat Group earnings total $743.6 million

HCM CITY — Industrial conglomerate Hoa Phat Group (HPG) estimates its revenue will reach almost VND14.5 trillion (US$743.6 million) in 2010, a year-on-year increase of 75 per cent, exceeding its annual target by 17 per cent.

In 2011, the group targets VND16 trillion ($820.5 million) in revenue and VND1.62 trillion ($83.1 million) in net profit.

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