Finnish fund investing in Vietnam's property market
PYN Elite Fund (Non-UCITS), managed by Finnish PYN Fund Management Ltd, has been actively buying shares in many real estate companies in Vietnam with an eye to the future.
PYN Elite Fund (Non-UCITS), managed by Finnish PYN Fund Management Ltd, has been actively buying shares in many real estate companies in Vietnam with an eye to the future.
Hoang Quan Consulting-Trading-Service Real Estate Corp (HQC) told HCM Stock Exchange on October 15 that the fund had bought six million shares in the company on October 8-9, raising its stakes in Vietnam to almost 22 million shares, equivalent to 8.34 percent of its capital.
HQC is among the top 20 biggest real-estate companies on the Vietnamese stock exchange. It has a market value of more than 1.6 trillion VND (71.4 million USD).
In the past month, the fund has bought 4.2 million shares in Hoa Binh Construction & Real Estate Corp (HBC), lifting its holding to 7.7 million shares, or 10.3 percent of the company's capital.
It has also become big shareholders in many property firms, including Thang Long Investment Group (TIG), Duc Long Gia Lai Group (DLG), Construction Investment Corporation 3-2 (C32), Development Investment Construction Co (DIG) and Kinh Bac City Development Share Holding Corp (KBC) with stakes ranging between 5 percent to 13 percent.
"PYN Elite fund has defined Vietnam as its core market for the period 2013-2020," said fund manager Petri Heiskanen in his September report.
The fund's assets under management reached 265 million euro (303.2 million USD) by the end of September, of which 80 percent was in Vietnam and 11 percent in China.
The US Federal Reserve's decision to keep interest rates unchanged calmed anxiety in global markets, after which the focus shifted more from speculation back towards fundamentals, Heiskanen wrote in his report.
He said the weakening economic cycle of the banking and property sectors had weighted the market sentiment in the Vietnamese stock market, and "as a result, the stock prices are looking very attractive compared to the historical price to book ratios".
Vietnam's real estate market is picking up, driven by the Government's support policy as well as bright prospects once the Trans-Pacific Partnership becomes operational.
According to reports of some securities companies, if TPP takes effect, not only will exports grow but also foreign investment inflows are likely to benefit apartment and office leasing services.-VNA
PYN Elite, Finland's best-performing investment fund, is shifting its investment from Thailand to Vietnam by investing 40 million USD in 51 local firms listed on the stock market.
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Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
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In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
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In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
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A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
Illustrative image (Photo:VNA)
