loss

Update news loss

The semi-annual consolidated financial statement of Vinachem showed a steep drop in profit, partially due to its accounts and assets being frozen by the court.

Trade and Industry Ministry urged to sell unprofitable projects

Experts believe that unprofitable projects invested by enterprises under the Ministry of Industry and Trade’s (MOIT) management should be sold even at a loss.

SOEs under trade ministry to be inspected

The Government Inspectorate will carry out an inspection targeting State-owned enterprises (SOEs) in which the Ministry of Industry and Trade (MoIT) controls State capital.

Notorious ex-banker guilty of $666m loss

Police have concluded that ex-banker Pham Cong Danh caused additional losses of more than VND6 trillion (US$266 million) in the second stage investigation into his case, 

Good news for Hoang Anh Gia Lai’s creditors

Sugar, palm oil and rubber, the three crops that Hoang Anh Gia Lai of Doan Nguyen Duc grows in Vietnam, Laos and Cambodia, have seen prices increasing in the context of a lower global supply due to climate change. 

Agri-industry faces losses

 VietNamNet Bridge – Faced with a flood of inexpensive US chicken imports, Vietnamese farmers are adopting new strategies to stay economically alive in a more global market, especially after the Trans-Pacific Partnership takes effect.

Royal Dutch Shell pushed into loss by charges

 Royal Dutch Shell has reported a loss for the third quarter of the year, after taking a big charge to reflect the cost of halting major projects.

Amazon reports a $57m loss in the first quarter

 Technology giant Amazon has reported a loss of $57m (£38m) in the first quarter of 2015 and has also given more detail about the performance of its web services business.

Viet Nam to avenge U19 loss to Japan

 VietNamNet Bridge – Japan's 4-3 win over Australia on Sunday has pushed the winner and hosts Viet Nam to the semi-final round of the Ha Noi's ASEAN Football Federation U19 Nutifood Cup.

Vietnamese fleet incurs major losses

VietNamNet Bridge – Vietnam’s fleet of ships are incurring losses even though 80 percent of goods are carried by waterways and seaways.

Two-thirds of enterprises incur losses

 VietNamNet Bridge - Up to two-thirds of 450,000 local enterprises have reported losses in business this year, said Deputy Minister of Finance Do Hoang Anh Tuan at a conference in Hanoi on Wednesday.

Both sugar refineries and farmers fear loss in new crop

 VietNamNet Bridge – The sugar plants in Mekong Delta have just started the new sugar cane pressing season, but they can foresee loss.

Nestle claims decades-long losses

 Nestlé Vietnam has reported accumulative losses since officially beginning operations in Vietnam 18 years ago, despite their strong market presence and rampant investment expansion.

BUSINESS IN BRIEF 5/8

 More firms approved to use fast track customs service; 5.5% GDP target within reach?; Crunch time for manufacturers in July; Enterprises in difficulty despite intervention

Foreign investors acquire home appliance distribution centers

Home appliance centers have become the “deadly ground” of many investors. However, domestic investors still have poured money into the sector, while foreigners have spent big money to acquire unprofitable chains.

Difficulties attack long distance transportation firms from all four sides

Airlines have to reduce the airfare continuously, while road passenger carriers have scaled down their business or sell coaches to pay debts.

High quality farm produce unsalable, farmers get exhausted

Farmers spend big money and efforts to grow high quality farm produce which meet international standards, but the products have been refused, or sold at low prices.

Airlines compete to take over the air routes left by Air Mekong

Right after Jetstar Pacific announced the opening of the HCM City – Buon Ma Thuot and the Buon Ma Thuot – Vinh City air routes in late March 2013, VietJet Air has also planned to provide the flights on the routes in the next month.

Government urged to cut down cement projects

Anticipating the excess of 40 million tons of cement by 2020, the Vietnam Building Material Association has proposed the government to stop some cement projects. However, it’s easier said than done.

Jetstar Pacific lost nearly VND2.5 trillion

The Ministry of Transport’s recent report on the restructuring, privatization of its enterprises shows that Jetstar Pacific’s financial situation is very difficult, with accumulated losses of nearly VND2.5 trillion ($120 million).