Articles worth reading
Image : India businesses say shock currency swap painful but needed

India businesses say shock currency swap painful but needed

person Orange Themes access_time Nov 10,2016

NEW DELHI (AP) — Delivering one of India's biggest-ever economic upsets, Prime Minister Narendra Modi this week declared the bulk of Indian currency notes no longer held any value and told anyone holding those bills to take them to banks.

Image : Dovizioso grabs Malaysia pole, Rossi lurks

Dovizioso grabs Malaysia pole, Rossi lurks

person Orange Themes access_time Oct 29,2016

Andrea Dovizioso took pole position on Saturday for the Malaysia MotoGP as fellow Italian Valentino Rossi helped his own chances of finishing second in the world championship by storming to the front row. Ducati's Dovizioso clocked a 2min 11.485secs

Image : The right time to stop crime is just before it happens, says new NSW ...

The right time to stop crime is just before it happens, says new NSW ...

person Orange Themes access_time Apr 02,2017

The right time to stop crime is just before it happens, says new NSW ... He has little time for the renewed debate over the decriminalisation of drugs, arguing that users are not targeted by police in any event. Fuller was in charge of Kings Cross

Latest blog articles

Merger plans to create VN’s largest sugar company

access_time Apr 20,2017 chat_bubble_outline 25 views

Thanh Thanh Cong Tay Ninh and Bien Hoa sugar companies plan to merge to create the largest sugar company in the Viet Nam’s stock market.


Merger plans to create VN’s largest sugar company



Board of directors of Thanh Thanh Cong Tay Ninh will submit the merger plan for approval at its extraordinary general meeting scheduled in late May or early June.

Thanh Thanh Cong Tay Ninh and Bien Hoa – both owned by Thanh Thanh Cong Group (TTC) – are currently among the largest sugar companies on the stock market.

Following the merger, market capitalisation of the new company is estimated at nearly VND10 trillion (US$438.6 million). Its annual turnover will be more than VND8 trillion.

At the shareholders meeting, the stock swap and operation plans of the new company will also be discussed.

TTC, chaired by Dang Van Thanh, is considered the leading company in the sugar industry as it holds controlling stake in many large sugar companies, including Thanh Thanh Cong Tây Ninh (SBT), Gia Lai Hydropower Sugar (SEC), Bien Hoa (BHS), Ninh Hoa (NHS) and Phan Rang Sugar Company.

The merger of sugar companies owned by TTC is being carried out over the past few years, with TTC merging SEC with SBT and NHS with BHS.

With the merger of SBT and BHS, TTC will still have ownership of SBT and BHS’s areas of expertise – advanced technology, experienced staff, strong brands and a large retail network.

BHS has been praised for its diverse products and is the only Vietnamese company to own a sugar refinery line from Japan. Therefore, BHS sugar is of high quality and is always sold at prices higher than the products of other companies.

TTC has also increased its investments in other sugar companies, such as Duong Nuoc Trong, Bourbon An Hoa, Duong La Nga and Duong 333, in an ambitious plan to strengthen its position as the market leader in the industry.

According to AgroMonitor, TTC is leading the industry with 17.2 per cent of market share. The figure can move up to 27 per cent if one only considers the southern market.

However, its position has been threatened by imports. With Viet Nam joining the ASEAN Economic Community in late 2015, the import tariff on sugar products from ASEAN was cut to 5 per cent and will be further cut to zero per cent after 2018.

This is a huge concern for Viet Nam’s sugar industry, which, as stated by the Viet Nam Sugar Cane and Sugar Association, has weak competitiveness due to high production cost.

Therefore, the urgent task for sugar companies is to cut production, which, in turn, depends on their capability of acquiring companies with large material growing areas and bringing high-yield sugarcane to Viet Nam. 

VNS

Trump doesn't rule out 'amended' Obamacare

U.S. President-elect Donald Trump said he will consider an "amended" version of President Barack Obama's signature health care law -- a shift in position after repeatedly vowing on the campaign trail that he would repeal the measure. Trump explained in an interview with The Wall Street Journal published Friday that his shift came after White House talks Thursday with Obama, who asked him to consider preserving parts of the Affordable Care Act. "Either Obamacare will be amended, or repealed and… chat_bubble_outline Read More...

Belichick On Bon Jovi: 'He Had [Gillette Stadium] Rocking'

Read on the original site chat_bubble_outline Read More...

Petrolimex delays listing to mid-April

Contrary to the original plan, the State-owned Vietnam National Petroleum Group (Petrolimex) expects to list its shares on the Ho Chi Minh City Stock Exchange (HoSE) around April 10-12, Chairman Mr. Bui Ngoc Bao told Reuters. The listing is part of the government’s push to equitize State-owned firms to attract investment and bridge the widening budget deficit. The country’s top oil products distributor has a valuation of around $2.3 billion, which would rank it among the Top 10 listed… chat_bubble_outline Read More...

Mike Golic's son slams 'stupid' ESPN 'idiots' after Mike and Mike split

Read on the original site chat_bubble_outline Read More...

Meghan Markle: Prince Harry attacks harassment of girlfriend in extraordinary ...

Read on the original site chat_bubble_outline Read More...

folder_open Assigned tags

Comments

Loading...

Trends in Singapore

Trends in Indonesia

Trends in Philippin