Articles worth reading
Image : Video of Egypt church bombing emerges, said to show attacker

Video of Egypt church bombing emerges, said to show attacker

person Orange Themes access_time Dec 13,2016

CAIRO (AP) — The Egyptian government has released footage showing the suicide bombing that tore through a Cairo church during Sunday Mass, including images of the alleged attacker.

Image : Patients treated by female doctors less likely to die than patients treated by men, new study shows

Patients treated by female doctors less likely to die than patients treated by men, new study shows

person Orange Themes access_time Dec 20,2016

Elderly patients are less likely to die or to be readmitted to to the hospital when they’re treated by a female physician than by a male physician, according to new research. Public health researchers at Harvard University waded through three years

Image : Bracing for Trump, some in Canada see 'nothing good'

Bracing for Trump, some in Canada see 'nothing good'

person Orange Themes access_time Nov 10,2016

Canada is one of America's closest allies and its largest trading partner but observers there worried that a Donald Trump presidency might change that. There is "nothing good" for Canada in any of it, according to Louis Belanger, a political science

Latest blog articles

Toshiba troubles casts doubt on Vietnamese plans

access_time Feb 19,2017 chat_bubble_outline 47 views

Toshiba’s colossal losses and the resulting distrust of creditors may negatively affect its operations in Vietnam and raise questions about the future of its plans here.

Toshiba troubles casts doubt on Vietnamese plans

On February 14, Toshiba announced that it will postpone the disclosure of its earnings for the fiscal year of 2016's third quarter (ended December 31, 2016) by up to one month. At the same time, it reported its provisional earnings results, including a ¥712.5 billion ($6.31 billion) impairment loss and a ¥499.9 billion ($4.43 billion) net loss, resulting in negative shareholders' equity.

On February 16, Toshiba said that lawyers and an independent auditing firm were probing into an acquisition by its US atomic division Westinghouse Electric because a whistleblower had complained of executives exerting "inappropriate pressure" over accounting at the firm.

Most recently, S&P’s February 17 release warned of “selective default” (SD) for Toshiba.

“Even in the event any potential equity sponsor decides to participate and banks continue to provide financial support for the company, if it includes any form of the debt restructuring we define as 'SD,' we will lower the ratings by multiple notches,” the agency said.

“We take a cautious view on whether Toshiba can recover and stabilize its overall profits from its remaining business areas, like elevators, railway systems, and auto parts, after a sale of its NAND flash memory business,” the agency said in its release. “While these businesses generate a certain level of profits, we take a conservative view of further growth, due to the fierce market environment and the company's competitive positions.”

“Even if the company reduces hundreds of billions of yen in debt (out of about ¥1.5 trillion in debt after S&P Global Ratings' adjustments as of September 30, 2016) and improves its shareholders' equity after the sale of its NAND flash memory business, we believe it will not be easy for the company to grow these businesses, given its weak financial standing and limited funding flexibility,” it added.

Toshiba arrived in Vietnam in the 90s, when Vietnam had just opened itself to the world. In October 1996, the company set up its first Vietnamese subsidiary with the name Toshiba Vietnam Consumer Products (TVCP). Now TVCP has six offices in big cities, namely Ho Chi Minh City, Hanoi, Danang, Can Tho, Nha Trang, and Vinh, selling products, including fridges, washing machines, air conditioners, and small appliances, such as water boilers, rice cookers, and vacuum cleaners.

TVCP is still going strong. Meanwhile, the results of Toshiba’s other production activities in Vietnam were less than stellar. Subsidiary Toshiba Asia, set up to produce high-efficiency engines of capacity under 100 horsepower and related parts, started operation in September 2010, but  reported an accumulated loss of $23 million two years later. This loss is equivalent to 82 per cent of shareholders’ equity, according to newspaper

In May 2016, Toshiba received an order to supply steam turbines and generators (STGs) for the extension of Vinh Tan 4 coal-fired thermal power plant by state-owned power authority Vietnam Electricity (EVN). It will start delivery in January 2018, with commissioning scheduled for 2019.

In 2014, Toshiba announced setting up a $1 billion investment fund in Southeast Asia over the next five years. Given the big losses and the distrust of creditors, there is worry about what would happen to Toshiba’s Vietnam operations and plans.


Trump administration defends travel ban in court

Los Angeles (AFP) - The US Justice Department faced tough questioning as it urged a court of appeals to reinstate President Donald Trump's travel ban targeting citizens of seven Muslim-majority countries -- put on hold by the courts last week.The latest twist in the legal showdown comes four days after a federal judge suspended Trump's decree, opening US borders back up to the thousands of refugees and travelers it had suddenly barred from the country.Three judges from an appellate court in San… chat_bubble_outline Read More...

Slumping Liverpool braced for Spurs test

Liverpool (AFP) - After a miserable start to 2017, Liverpool are in a sorry state ahead of Tottenham Hotspur's visit in the Premier League on Saturday.They have won only one of their last 10 matches, were knocked out of both domestic cups in the space of four days and slipped out of the top four after last weekend's 2-0 loss at strugglers Hull City.It has been some fall for Jurgen Klopp's side, who briefly topped the table in November but now find themselves 13 points behind leaders Chelsea and… chat_bubble_outline Read More...

Over 13,000 new firms set up in April: GSO

As many as 13,102 new enterprises were established in April, the highest figure in the past 12 months, representing a month-on-month rise of 8.9 percent, according to the General Statistics Office (GSO). According to the GSO, total registered capital of the firms set up in April was 98.4 trillion VND (4.3 billion USD), a fall of 17.1 percent from the previous month.In the first four months of this year, 39,580 enterprises were established with combined capital of 369.6 trillion VND (16.25… chat_bubble_outline Read More...

9-months-pregnant woman shot dead in southern Thailand

HAD YAI, Thailand (AP) — A nine-months-pregnant woman has been shot dead in southern Thailand by a gunman suspected of being a Muslim insurgent, police said Sunday.A gunman who arrived by motorcycle walked up to two women eating at a street stall Saturday evening in Pattani province's Panarae district, shooting both before fleeing, said police Capt. Norawit Thongsod.The pregnant woman was killed in the attack, while her wounded companion survived. Doctors performed a C-section operation on the… chat_bubble_outline Read More...

Thailand's Central Group to slow down Vietnam acquisitions after Big C deal: report

A file photo of a Big C supermarket in Vietnam. Photo credit: Big C After aggressively expanding its business in Vietnam in the past two years, mainly through acquisition deals, Thai retail giant Central Group now plans to ease the buying spree to focus on generating profits over the next three years. The conglomerate's plan was reported by Thailand's newspaper The Nation on Monday, soon after it acquired Vietnam's biggest foreign-owned supermarket chain Big C for 1 billion euros (US$1.13… chat_bubble_outline Read More...

folder_open Assigned tags



Trends in Singapore

Trends in Indonesia

Trends in Philippin