Vietnam real estate market investment vehicle VinaLand posts a net loss of $201.6m for the year to June compared with a profit of $248.2m last time.
The firm said the result was due to writedowns which reflected market conditions.
Its net asset value stoo at $660m - down from $804m in 2008 - and it had cash and cash equivalents of $50.3m.
Director Don Lam said: "Despite the continuation of tough conditions over the past year, VNL has maintained its position as the leading foreign investor in Vietnam's burgeoning real estate sector.
"I am pleased with the company's progress over the period - particularly as regards to our residential projects, in which we have witnessed strong demand and rising prices.
"We will continue to pursue our strategy of focusing on the most profitable urban districts whilst maximising returns through divestment from selected projects."
Story provided by Business Financial Newswire
Thursday, January 14, 2010
Wednesday, January 13, 2010
RoK businesses keen on Vietnam’s market
He stated this at a seminar to promote investment and trade between Vietnam and the RoK in Hanoi on January 11.
Secretary General Cho and representatives from the top 20 construction businesses in the RoK are on a fact-finding tour of Vietnam from January 11-13 to seek out investment opportunities.
The investment and trade relationship between Vietnam and the RoK has developed rapidly in recent years. Since the Law on Foreign Investments took effect in Vietnam in 1988, the RoK has invested US$20 billion in more than 2,200 investment projects in Vietnam, ranking second among the 89 countries and territories currently investing in the country.
Deputy Minister of Industry and Trade Nguyen Thanh Bien confirmed that bilateral economic, investment and trade ties will further improve, especially as the RoK is one of the world’s economies to see an early recovery from the global economic downturn and maintain a good economic growth.
The Vietnamese Government highlighted the efforts made by RoK investors as the nation is always amongst the top three countries and territories to invest in Vietnam, stated the deputy minister.
The RoK businesses have left an important mark in various economic sectors, including infrastructure, real estate, the ship building industry, electricity generation and electronics, he added.
Secretary General Cho and representatives from the top 20 construction businesses in the RoK are on a fact-finding tour of Vietnam from January 11-13 to seek out investment opportunities.
The investment and trade relationship between Vietnam and the RoK has developed rapidly in recent years. Since the Law on Foreign Investments took effect in Vietnam in 1988, the RoK has invested US$20 billion in more than 2,200 investment projects in Vietnam, ranking second among the 89 countries and territories currently investing in the country.
Deputy Minister of Industry and Trade Nguyen Thanh Bien confirmed that bilateral economic, investment and trade ties will further improve, especially as the RoK is one of the world’s economies to see an early recovery from the global economic downturn and maintain a good economic growth.
The Vietnamese Government highlighted the efforts made by RoK investors as the nation is always amongst the top three countries and territories to invest in Vietnam, stated the deputy minister.
The RoK businesses have left an important mark in various economic sectors, including infrastructure, real estate, the ship building industry, electricity generation and electronics, he added.
Monday, January 11, 2010
Hanoi property catches foreign investors’ attention
Foreign investors will start to shift investment from HCM City to Hanoi this year, says Marc Townsend, managing director of Property services and consulting firm CB Richard Ellis (CBRE) Vietnam Co.
At a real estate conference held last Wednesday in the capital, Mr. Townsend said about 80 percent of its investors’ last year capital has been poured into the market.
He said both foreign investors and Vietnamese government had been very active in the market.
“Malaysian and Singaporean investors view the city as a promising market,” said the MD.
Weathering the global economic downturn, Vietnam reached a positive GDP growth rate in 2009. Interest rates were increased by one percent on December 1, a move designed to limit credit growth and rein in inflation.
CBRE forecast that new legal documents on the market would provide foreign investor with new opportunities.
At a real estate conference held last Wednesday in the capital, Mr. Townsend said about 80 percent of its investors’ last year capital has been poured into the market.
He said both foreign investors and Vietnamese government had been very active in the market.
“Malaysian and Singaporean investors view the city as a promising market,” said the MD.
Weathering the global economic downturn, Vietnam reached a positive GDP growth rate in 2009. Interest rates were increased by one percent on December 1, a move designed to limit credit growth and rein in inflation.
CBRE forecast that new legal documents on the market would provide foreign investor with new opportunities.
Saturday, January 9, 2010
2009 a time of reflection for Vietnam veteran Dennis Pfeiffer
This past year Dennis Pfeiffer has often caught himself wondering, “What was I doing at this moment 40 years ago?”
The answer that almost always comes back? Flying with the 242nd Assault Helicopter Company over Vietnam.
The 60-year-old Wauneta man and Army veteran put in 18 months stationed in Vietnam, from November 1968 to June 1970. Most of that time was spent as a flight engineer aboard a Chinook CH-47 helicopter, resupplying the 25th Infantry.
In May Pfeiffer got a chance to reconnect with several of his old Army buddies as honored guests during the dedication of the Nebraska National Guard’s Army Aviation Support Facility in Grand Island.
During that same whirlwind week, Pfeiffer accompanied his 84-year-old father, Oscar Pfeiffer, on a Buffalo County-sponsored Hero Flight trip to Washington, D.C., where together the Vietnam veteran and World War II veteran journeyed to the war memorials honoring their military service.
“It was an intense week, that’s for sure,” said Dennis.
The answer that almost always comes back? Flying with the 242nd Assault Helicopter Company over Vietnam.
The 60-year-old Wauneta man and Army veteran put in 18 months stationed in Vietnam, from November 1968 to June 1970. Most of that time was spent as a flight engineer aboard a Chinook CH-47 helicopter, resupplying the 25th Infantry.
In May Pfeiffer got a chance to reconnect with several of his old Army buddies as honored guests during the dedication of the Nebraska National Guard’s Army Aviation Support Facility in Grand Island.
During that same whirlwind week, Pfeiffer accompanied his 84-year-old father, Oscar Pfeiffer, on a Buffalo County-sponsored Hero Flight trip to Washington, D.C., where together the Vietnam veteran and World War II veteran journeyed to the war memorials honoring their military service.
“It was an intense week, that’s for sure,” said Dennis.
Thursday, January 7, 2010
Vietnam Construction Market Data & Forecast to 2013 - new report released
Vietnam Construction Market Data & Forecast to 2013 - a new market research report on companiesandmarkets.com
www.companiesandmarkets.com/Summary-Market-Report/vietnam-constr ..
Vietnam Construction Market Data & Forecast to 2013 report is the essential source for Construction industry data and analysis covering Vietnam, both at the top level and providing in-depth category and channel insight.
The report provides historical data and forecasts for the Vietnamese Construction industry in the period 2004-2013, detailed profiles and financial metrics covering the major market players, a
breakdown of key recent M&A and partnership activity, and comprehensive analysis of the key factors driving the industry at consumer, market and company level.
The Vietnamese construction industry grew at a CAGR of 20.93% for the period 2003-2008. Non-residential sector’s market share was 51.4% in 2008, while residential sector accounted for the balance 48.6%. Located in South-East Asia, Vietnam, once a war savaged land, is now a fast developing market. Over the five years prior to 2008, the Vietnamese economy has recorded 8% growth in Gross Domestic Product (GDP), making it one of the fastest growing Asian markets. Even in the face of recession in 2008, the country reported a robust GDP growth of 6.2%. Vietnam has been moving to industrialization over the last two decades. The industry and construction sector which accounted for 23.8% of the country’s GDP in 1991 has grown to 39.9% in 2008.
www.companiesandmarkets.com/Summary-Market-Report/vietnam-constr ..
Vietnam Construction Market Data & Forecast to 2013 report is the essential source for Construction industry data and analysis covering Vietnam, both at the top level and providing in-depth category and channel insight.
The report provides historical data and forecasts for the Vietnamese Construction industry in the period 2004-2013, detailed profiles and financial metrics covering the major market players, a
breakdown of key recent M&A and partnership activity, and comprehensive analysis of the key factors driving the industry at consumer, market and company level.
The Vietnamese construction industry grew at a CAGR of 20.93% for the period 2003-2008. Non-residential sector’s market share was 51.4% in 2008, while residential sector accounted for the balance 48.6%. Located in South-East Asia, Vietnam, once a war savaged land, is now a fast developing market. Over the five years prior to 2008, the Vietnamese economy has recorded 8% growth in Gross Domestic Product (GDP), making it one of the fastest growing Asian markets. Even in the face of recession in 2008, the country reported a robust GDP growth of 6.2%. Vietnam has been moving to industrialization over the last two decades. The industry and construction sector which accounted for 23.8% of the country’s GDP in 1991 has grown to 39.9% in 2008.
Tuesday, January 5, 2010
Vietnam`s largest project tees off in Laos
Hanoi (ANTARA News/Asia Pulse) - Vietnam's Long Thanh Golf Trading and Investment Co. began construction of a US$1 billion golf course and real estate project in Vientiane on January 3, making it the largest foreign-invested venture in Laos.
Covering an area of 557.4 ha, the project will feature an 18-hole golf course, a five-star hotel, high-grade villas, a resort and school and hospital facilities.
The project is expected to become operational after 12 years of construction.
Covering an area of 557.4 ha, the project will feature an 18-hole golf course, a five-star hotel, high-grade villas, a resort and school and hospital facilities.
The project is expected to become operational after 12 years of construction.
Sunday, January 3, 2010
Vietnam should attract FDI into supporting industries: economist
Dau Tu: What would you say about the FDI capital flow in 2009?
Vo Tri Thanh: Committed FDI capital in 2009 is obviously lower than 2008. The figure of $21 billion in committed capital is encouraging, showing that foreign investors still see long-term potential in Vietnam.
If we look at the sum of money poured into Vietnam in 2009, about eight billion dollars, we see that foreign investors’ financial situation is really healthy. They are making investments and aiming for long-term, not short-term, profits.
However, I can see some problems in the FDI flow in 2009.
Many FDI projects are in the real estate sector. When the real estate sector goes up and down, this will create negative effects in both the real estate market and the national economy. When a big volume of capital is poured into the real estate sector, this shows the big potential of the market, but we should also anticipate risks as well.
Besides, Vietnam still has disadvantages in attracting FDI, including its poor infrastructure and labor problems with a shortage of skilled workers and qualified managers
Vo Tri Thanh: Committed FDI capital in 2009 is obviously lower than 2008. The figure of $21 billion in committed capital is encouraging, showing that foreign investors still see long-term potential in Vietnam.
If we look at the sum of money poured into Vietnam in 2009, about eight billion dollars, we see that foreign investors’ financial situation is really healthy. They are making investments and aiming for long-term, not short-term, profits.
However, I can see some problems in the FDI flow in 2009.
Many FDI projects are in the real estate sector. When the real estate sector goes up and down, this will create negative effects in both the real estate market and the national economy. When a big volume of capital is poured into the real estate sector, this shows the big potential of the market, but we should also anticipate risks as well.
Besides, Vietnam still has disadvantages in attracting FDI, including its poor infrastructure and labor problems with a shortage of skilled workers and qualified managers
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