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HSBC, OCBC oppose Truong My Lan’s proposal to sell multi-million-dollar Hanoi building
HSBC and OCBC Bank Singapore said Van Thinh Phat chairwoman Truong My Lan has mortgaged the Capital Place building for loans totaling US$200 million at their banks, disqualifying her from selling the property.
Beer bars, restaurants innovate to survive DUI crackdown
Son Thuy, once a bustling restaurant in HCMC’s District 3, has seen business fall by 15-20% this year after authorities started to crack down on drunk driving.
Hoa Lam chairwoman no longer VietBank deputy general director
The VietBank board of directors has accepted the resignation of deputy general director Tran Thi Lam, who is also chairwoman of real estate firm Hoa Lam.
March 28, 2024 | 06:48 pm PT
How owner ran English center chain Apax Leaders into ground before his arrest
Apax Leaders operator Egroup, established by Nguyen Ngoc Thuy, has been raising trillions of dong (VND1 trillion = $40.33 million) from investors but failed to pay them their contracted interest.
March 28, 2024 | 03:11 pm PT
'Very ashamed and remorseful,' central bank inspector says at $12B fraud trial
The State Bank of Vietnam’s disgraced inspection chief Do Thi Nhan said she regrets taking a bribe of US$5.2 million to cover up wrongdoing at Saigon Commercial Bank.
March 27, 2024 | 08:50 pm PT
VNDirect system limping back to normalcy after cyberattack, still no trading
Securities brokerage VNDirect’s system is partly up and running after the cyberattack last weekend, allowing clients to check their accounts but not trade.
March 27, 2024 | 07:17 pm PT
33 years on, Pacific Airlines still struggling to take off
Pacific Airlines was expected to dominate the low-budget aviation market and operate 40 jets, but after three decades the airline has only debts and no aircraft.
March 27, 2024 | 05:00 am PT
Tan Hoang Minh chairman receives 8-year prison sentence for $349M fraud
Do Anh Dung, chairman of property developer Tan Hoang Minh, was sentenced to eight years in prison for masterminding a scheme to appropriate VND8.6 trillion ($349 million) from bond investors.
March 27, 2024 | 01:58 am PT
Carriers asked to develop fleet operation plan to meet summer travel demand
The Ministry of Transport has asked carriers to develop aircraft fleet operation plans to meet the rising travel demand for the upcoming national holidays and summer peak.
March 27, 2024 | 12:13 am PT
Chairman of steel giant Hoa Sen Group wants daughter to take over
Le Phuoc Vu, chairman of steel giant Hoa Sen Group, plans to bequeath the company to his youngest daughter, a 23-year-old student in Australia, in 7-10 years’ time.
March 27, 2024 | 12:00 am PT
Infrastructure giant Phuc Son’s arrested chief ‘manipulated’ officials for personal gain: police
Construction firm Phuc Son chairman Nguyen Van Hau, who was arrested last month, took advantage of his relationships with government officials to break laws, the police said.
March 26, 2024 | 08:01 pm PT
Why parents lend international schools up to $200K without interest
Many parents are lending international schools VND2-5 billion (US$80,000-200,000) interest-free in exchange for free education for their children, getting substantial returns on their investment.
March 26, 2024 | 07:00 pm PT
M2 MacBook Air sees 17% discount as M3 model announced
The price of Apple’s M2 MacBook Air has been cut by 17% since the new M3 is expected to be launched soon.
March 26, 2024 | 06:06 pm PT
'Kobe beef' sells for $11 a kilo online, consumers dubious
Some online stores are selling what they claim to be Kobe beef, the premium Japanese variety that usually costs VND6-15 million (US$242-605) per kilogram, for a mere VND280,000 ($11).
March 26, 2024 | 04:00 pm PT
Owner of Vietnam’s largest beverage company Tan Hiep Phat, daughters to stand trial for $42M fraud
Tran Qui Thanh, the former chairman of Vietnam's leading beverage manufacturer Tan Hiep Phat, along with his two daughters, is slated for trial next month over allegations of engaging in a VND1.048 trillion ($41.92 million) fraud.
March 26, 2024 | 01:50 am PT
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