Son Hai builds terraced fields; PV Power invests in electric vehicle charging stations; Dramatic hot seat at Hoang Anh Gia Lai Hotel

Tasco Auto joins hands with Mitsui & Co; Dramatic hot seat at Hoang Anh Gia Lai Hotel; GELEX becomes major shareholder of Eximbank; Railway joins hands with pure Vietnamese super app; PV Power builds electric vehicle charging station...

Mitsui & Co becomes strategic shareholder of Tasco Auto

Tasco and Mitsui & Co., Ltd. (Mitsui) announced that they have completed an agreement for Mitsui to become a strategic shareholder of Tasco Auto - a member unit of Tasco and accompany Tasco Auto to implement many development plans and strategies in the coming time. The investment is disbursed in installments and the first installment was completed on July 31, 2024.

Tasco and Mitsui & Co., Ltd. (Mitsui) announced that they have completed an agreement for Mitsui to become a strategic shareholder of Tasco Auto.

Through this cooperation, Tasco Auto will have the opportunity to learn international operational and management experience, optimize efficiency as well as take advantage of the existing position and network from the partner; thereby concretizing the growth potential of the industry and continuing to pursue long-term development goals. At the same time, Mitsui will provide technological solutions, consulting and accompanying Tasco to improve operational efficiency, improve governance structure, and help the apparatus become streamlined and efficient.

For Mitsui, this is also an opportunity for Japanese businesses to participate more deeply in rapidly growing fields in a market of 100 million people like Vietnam.

Mitsui & Co. is a leading Japanese trading and investment group with a presence in more than 60 countries and territories, with business operations spanning a wide range of industries. Mitsui & Co.'s strategic focus is on sustainability and innovation. The company seeks, develops and expands its business through global partnerships with trusted partners including world -leading companies, combining geographic and industry strengths to create long-term sustainable value and promote growth and development for its stakeholders.

Tasco Auto is the leading car distributor in Vietnam, accounting for about 13.3% of the car market share in Vietnam, a trusted partner of 14 car brands through a system of 90 showrooms stretching from North to South, including many big brands such as Toyota (nearly 20% market share), Ford (nearly 30% market share), Mitsubishi... and luxury cars Volvo, contributing to making this brand become the top 3 most favorite luxury cars in the domestic market after only a short time.

Dramatic faces in the hot seat of Hoang Anh Gia Lai Hotel

The position of Director and legal representative of Hoang Anh Gia Lai Hotel was changed to Ms. Le Thi Hoang Yen on August 5. Ms. Yen, born in 1987, is the daughter of Muong Thanh owner Le Thanh Than.

Ms. Le Thi Hoang Yen is the Director and legal representative of Hoang Anh Gia Lai Hotel.

Hoang Anh Gia Lai Hotel was sold by Hoang Anh Gia Lai Group (HAGL) to Hoan Sinh Gia Lai Investment Company Limited in the second half of 2023, bringing an estimated profit of more than 144 billion VND to the Group.

Hoan Sinh Gia Lai Company was also established only a few days before receiving the most famous hotel in the mountain town of Pleiku.

Initial charter capital of 200 billion VND, located at 3/2 Street, District 10, Ho Chi Minh City. The shareholder structure at the time of establishment included Ms. Nguyen Thi Huyen holding 51% and Mr. Do Xuan Duc holding 49%. Mr. Duc holds the position of Director and legal representative of the Company.

The new owner of Hoang Anh Gia Lai Hotel has gradually emerged since May this year.

Specifically, on May 20, Ms. Doan Thi Nguyen Nguyen (Mr. Doan Nguyen Duc's younger sister) took the position of Mr. Do Xuan Duc. On June 10, this position continued to be transferred to Ms. Nguyen Thi Huyen, the initial major shareholder of Hoan Sinh Gia Lai. On July 26, the Enterprise changed its registered address from District 10, Ho Chi Minh City to the hotel location, No. 01 Phu Dong, Phu Dong Ward, Pleiku City, Gia Lai Province. On August 2, the Company reduced its charter capital from VND 200 billion to nearly VND 51 billion. Mr. Do Xuan Duc withdrew all capital, and instead, Ms. Nguyen held 52.127% and Ms. Huyen held 47.873%. Three days later, August 5, Ms. Le Thi Hoang Yen officially sat in the position of Director and legal representative of the Company.

Ms. Le Thi Hoang Yen was born in 1987 and spent many years studying abroad in England before taking over the position of General Director of Muong Thanh Group Corporation when she was not yet 30 years old.

GELEX becomes major shareholder of Eximbank

After transactions with a total of 89 million shares, GELEX owns 174.6 million EIB shares of Eximbank, equivalent to 10% of the bank's charter capital. Thus, GELEX is currently the largest shareholder of Eximbank.

GELEX owns 174.6 million EIB shares of Eximbank

Eximbank welcomes new shareholders amid many optimistic signals about future prospects. International credit rating agency S&P Global Ratings has just announced that Eximbank's long-term partner credit rating remains at "B+" with a "Stable" outlook, equivalent to the rating announced in July 2023. Notably, this rating agency has pointed out positive improvements from Eximbank's performance and profit indicators in 2023.

Accordingly, Eximbank's profit has returned to normal levels with ROA reaching 1.1%, compared to 1.7% in 2022. This reflects the compression of net interest margin (NIM) after a series of actions to cut operating interest rates by the State Bank.

However, according to MB Securities statistics, Eximbank is one of the few mid-range joint stock commercial banks that have had positive improvements in NIM in recent times, along with other banks such as HDBank, TPBank, Seabank or Techcombank.

In addition, S&P Global also noted that Eximbank has rebalanced its loan portfolio, which brings high profit margins, focusing on loans to individual customers and SME customers, while handling outstanding bad debts.

The above business restructuring efforts have helped the bank maintain higher profitability. This is the basis for maintaining the long-term counterparty credit rating of B+ and the outlook of “Stable” for Eximbank in the context of many economic difficulties.

On GELEX's side, in the first 7 months of the year, GELEX recorded consolidated net revenue of VND 18,527 billion, equivalent to 57% of the yearly plan; consolidated pre-tax profit reached VND 1,975 billion, achieving 103% of the yearly plan. Thus, up to this point, this enterprise has exceeded the profit plan for the whole year of 2024.

Explaining this, the company said that, in addition to the profits earned from completing the transfer of 3/4 of the renewable energy project to Sembcorp, GELEX's subsidiaries in the electrical equipment manufacturing sector have had positive business results by focusing on product research and development, market expansion, improving management capacity, and promoting marketing and sales activities...

Currently, GELEX is also joining hands with many "big guys" from Singapore such as Sembcorp, Frasers Property to develop high-end, international standard industrial centers; looking for opportunities in the field of renewable energy.

Railways join hands with pure Vietnamese super app

Vietnam Railways Corporation (VNR) has signed a strategic cooperation agreement with BE GROUP's "purely Vietnamese super application" to sell tickets, choose seats online, and integrate unique 5-in-1 multimedia: Airplane - Train - Motorcycle - Car - Bus.

A representative of Vietnam Railways said that in the first 6 months of 2024, Vietnam Railways Corporation recorded nearly 3.7 million passengers, an increase of more than 15% over the same period in 2023.

Vietnam Railways Corporation (VNR) sells tickets on BE app

Among them, the “best-selling” routes include: Saigon to Phan Thiet, Nha Trang, Quy Nhon, Da Nang; Hanoi to Vinh, Dong Hoi, Hue, Da Nang, Lao Cai, Hai Phong; Nha Trang to Da Nang; Da Lat – Trai Mat. Besides the destination, the factors that strongly influence the decision to buy a train ticket include: Price, Arrival time and Seat/bed type as well as train quality.

What is more special is that traveling by train is increasingly attracting young passengers and young families looking for interesting, dreamy "travel" experiences at reasonable prices: having both a polite train compartment space and admiring dreamy routes across the country with ticket prices starting from only 32,000 VND per trip...

This growth can partly be explained by the strategy of partnering with super apps, with more than 50% of tickets sold online.

For example, the cooperation with the super app BE, this is the pioneering super app that has all 5 types of transportation from cars, motorbikes, planes, trains, and buses on the same app with a customer base of more than 10 million.

When using BE to buy train tickets, customers can not only buy tickets in advance, but also choose seats, choose VIP compartments, apply a variety of payment methods including bePaylater Postpaid Wallet with preferential interest rates, as well as multi-level promotions and discounts on BE.

With more than 10 million users, BE is currently the leading application that fully integrates 5 types of transportation in 1: Airplane - Train - Motorcycle - Car - Bus, with hundreds of thousands of drivers as well as thousands of partners integrated into the platform, creating an extremely massive and unique transportation ecosystem.

PV Power completes first pilot electric vehicle charging station

PetroVietnam Power Corporation (PV Power) said it is researching and investing in the construction of the first pilot electric vehicle charging station.

Accordingly, PV Power signed a Memorandum of Cooperation with EN Technologies Inc. to research and develop a charging station system in Vietnam. After a period of research and evaluation, PV Power decided to deploy the construction of a pilot electric vehicle charging station at 6 Huynh Thuc Khang, Hanoi.

The first fast charging station was built by PV Power in cooperation with EN Technologies Inc.

The DC fast charging station has a total capacity of 100-120 kW. The station area is about 30-35 m2. The charging station includes 2 vertical charging cabinets, equipped with 2 charging ports with a capacity of 50 - 60kW/charging port. The charging station is equipped with a display screen, payment is made via QR code scanning. The total investment cost of the project is about more than 1.8 billion VND.

Charging revenue is calculated based on estimated charging output and the expected charging price is divided into 3 price levels according to off-peak, normal and peak hours. In which, the expected average charging price is about 3,858 VND/kWh, the price is equivalent to the charging station operated by Vinfast and lower than some other units such as EverCharge, EV One...

PV Power's foreign partner, EN Technologies Inc., was established in 2003 with the participation of Samsung SDI and LG Electronics. In 2007, the company received an investment of 45 million USD from a joint venture between Samsung and IBK Bank (Industrial Bank of Korea). In 2011, the company continued to receive an investment of 10 million USD from LG Electronics.

According to the introduction, EN Technologies Inc. operates in the field of power electronics and electrical switching equipment. The company is the third company that can produce and supply plasma power sources besides the US and German enterprises. Recently, EN Technologies Inc. expanded its business to ESS and EV chargers.

Besides PV Power, another state-owned enterprise that has been manufacturing and installing fast charging stations for electric cars for a long time is EVN, even before Vinfast built the charging station. Accordingly, since 2017, the Central Power Electronic Measuring Equipment Manufacturing Center under the Vietnam Electricity Group (EVN) has researched and manufactured charging stations for electric cars.

The Central Power Electronic Measuring Equipment Manufacturing Center has installed charging stations for 13 member power companies and cooperated in testing electric vehicle charging stations connected to solar power systems with the Vietnam Oil Corporation (PVOIL).

Son Hai Group builds a new village and terraced fields

After the landslides in the northern Huong Hoa area (Quang Tri) in 2020, Son Hai Group decided to invest more than 33 billion VND to build a new village with 56 solid houses to give to households in the high-risk landslide area of Huong Lap commune.

Along with 56 houses, Son Hai Group built 7.5 hectares of terraced fields for local people to produce.

56 houses have been completed since 2022. In addition, each household was given a cow and a TV with wifi. The group also supported rice for the villagers in the first 3 years.

In addition to donating houses, Son Hai also built a kindergarten and a primary school in the village, along with housing for teachers living in the village.
The group also built 7.5 hectares of terraced fields for local people to produce.

Mr. Nguyen Viet Hai, Chairman of Son Hai Group, is the one who came up with the idea of this special village. Mr. Hai said that he started thinking about a safe place for people in the northern region of Huong Hoa when he witnessed continuous landslides during the 2020 rainy and stormy season.

Son Hai Group was established in 1998 and is one of the largest private enterprises in Quang Binh. After more than 2 decades of establishment, in addition to its core business of construction, the experience, relationships and accumulated resources have helped Son Hai expand strongly into capital-intensive but also potential fields such as energy and real estate.

As of May 2023, Son Hai's charter capital was recorded at VND 2,366 billion. Of which, Mr. Nguyen Viet Hai, Chairman of the Board of Members, holds 99.912%, and Mr. Le Thanh Huong, Director, holds 0.088% of the charter capital.

As a contractor based in Quang Binh, Son Hai Company began to attract public attention in 2014 when it participated in the National Highway 1A expansion project. At that time, road sections were usually only warranted for 2 years by contractors, but Son Hai alone announced a 5-year warranty for the 2 packages it implemented, namely Package 10 and Package 14, 15km long, passing through Quang Binh province.

In 2022, Son Hai Group continued to cause a stir in public opinion when it sent a document to the Ministry of Transport requesting a 10-year warranty commitment for the bid packages on the expressways constructed by this group.

These packages include package 10-XL of the Mai Son – National Highway 45 project; package XL-01 of the Nghi Son – Dien Chau project; the entire Nha Trang – Cam Lam project and the following packages of phase 2 of the North – South expressway that this unit undertakes to construct.

Source: https://baodautu.vn/son-hai-xay-ruong-bac-thang-pv-power-dau-tu-tram-sac-xe-dien-kich-tinh-ghe-nong-khach-san-hoang-anh-gia-lai-d222635.html