News – NGÔI SAO SÁNG

Samsung denies moving smartphone production chain from Vietnam to India

Ngôi Sao Sáng Co., Ltd — Mon, 20 Mar 2023 01:31:13 +0000

Source: VN-Express

General Director of Samsung Vietnam Complex Choi Joo Ho said the group would not move smartphone production lines from Vietnam to India.

The Korea Herald quoted a source last month as saying that Samsung Electronics decided to gradually shift production of its flagship models to India, including phones being manufactured in Vietnam.

The report said the move is to minimize damage from the U.S.-China trade war and penetrate deeper into the world’s fifth economy.

However, Choi denies the information at a recent meeting with authorities of the northern province of Thai Nguyen which hosts a Samsung Electronics factory.

He said products made in India are mainly for the domestic market and a small part is exported to African countries.

In Vietnam, phone models are manufactured and exported to 128 countries around the world. Thus, the output of Samsung Electronics Vietnam is not affected by output in India.

Choi added that the group is committed to long-term investment in Thai Nguyen, and has recently increased capital by nearly US$1.2 billion into Samsung Electro-Mechanics Vietnam factory, raising Samsung’s total investment capital in the province to $7.5 billion.

An audited financial report shows that Samsung earned US$234 billion of revenue last year, up more than 8% from 2021. Four factories in Vietnam contributed 30% of the group’s total revenue and created profits of about US$4.6 billion.

Samsung Electronics Vietnam Thai Nguyen (SEVT), currently Samsung’s biggest smartphone factory in the world, created the highest revenue, $28 billion, up 13% against 2021.

Samsung has invested $18 billion in Vietnam and is planning to raise it to $20 billion.

VN-Express

Mr. Le Viet Hai continues to be the Chairman of Hoa Binh Construction Group

sgwcontent — Mon, 20 Feb 2023 02:24:04 +0000

According to the Decision from the Civil Judgment Enforcement Department of Ho Chi Minh City, until the case is resolved by the effective Decision or award of the Arbitration Council, the Vietnam International Arbitration Center (VIAC), Mr. Viet Hai will continue to hold the position of Chairman of the Board of Directors (BOD) and Legal Representative of Hoa Binh Construction Group.

According to a press release from HBC, the Ho Chi Minh City Civil Judgment Execution Department forced this unit to suspend the implementation of Resolutions 50 and 51 with five main contents: accepting the resignation of the Chairman of the Board of Directors; his resignation as a member of the Board of Directors Le Viet Hai; appointed General Director for Mr. Le Viet Hieu (the son of Mr. Hai); established the Founding Council and appointed independent member of the Board of Directors Nguyen Cong Phu to the position of Chairman of the Board of Directors of the Group.

Resolution 53 was later issued to postpone the implementation of the above two Resolutions, which was also requested by the Ho Chi Minh City Civil Judgment Execution Department “until the case is resolved by the decision or judgment of the Council”. referee”.

The decision of the City Civil Judgment Execution Department was made on the basis of a request from the Arbitration Council of the Vietnam International Arbitration Center (VIAC) Ho Chi Minh City branch. Previously, this arbitral tribunal applied an urgent measure to temporarily postpone the above three resolutions according to a petition from a shareholder of Hoa Binh Construction Group.

Temporary urgent measure means a measure applied during the settlement of a civil case in order to meet the urgent needs of involved parties, preserve property status, protect evidence or ensure judgment enforcement.

This is the latest development after three weeks of a dispute between Mr. Le Viet Hai and Mr. Nguyen Cong Phu. Specifically, on December 14, 2022, the Board of Directors of Hoa Binh Construction Group issued Resolution No. 50, in which Mr. Hai resigned from the position of Chairman of the Board of Directors to ensure the legality of Le Viet Hieu’s son. assume the position of General Director. Resolution No. 51 on the same day appointed Mr. Nguyen Cong Phu – an independent member of the Board of Directors – as Chairman of the Board of Directors instead of Mr. Hai.

However, on December 31, 2022, Resolution No. 53 was issued to postpone the approval of Mr. Hai’s resignation as a member of the Board of Directors; At the same time, Mr. Nguyen Cong Phu has not been elected to the position of Chairman. The members of the Board of Directors of Hoa Binh including Mr. Phu, Mr. Le Quoc Duy, Mr. Duong Van Hung and Mr. Albert Antoine rejected and affirmed that this Resolution was invalid. The two sides then gave arguments to affirm their views.

In the current shareholder structure of Hoa Binh Construction Group, Mr. Le Viet Hai’s family is the largest group of shareholders holding a total of more than 21% shares. In addition, Hoa Binh Construction Group has two other major shareholders: Hyundai Elevator Co., Ltd (holding 10.2% of charter capital), Sanei Architecture Planning (holding 1.8% of charter capital), nearly 67 The remaining % shares are held by other shareholders.

SACA President proposes 7 solutions to develop Metro in Ho Chi Minh City

sgwcontent — Mon, 20 Feb 2023 02:23:07 +0000

At the Conference “Contact and dialogue with the business community in Ho Chi Minh City in 2022” on August 31, Mr. Le Viet Hai, Chairman of Ho Chi Minh City Association of Construction and Building Materials (Ho Chi Minh City Association of Construction and Building Materials) SACA), Chairman of the Board of Directors of Hoa Binh Construction Group gave a speech and proposed 7 recommendations on the development of the Metro system of Ho Chi Minh City.

According to the President of SACA, Ho Chi Minh City has developed very quickly, the urban appearance has changed a lot but also revealed many problems including the problem that the Chairman of the City People’s Council just mentioned, which is, how to exploit, use land, as well as invest in building projects with higher efficiency.

Currently, Ho Chi Minh City has 9 Metro projects, of which 2 are being implemented, including line 1 (Ben Thanh – Suoi Tien), line 2 (phase 1, Ben Thanh – Tham Luong) and preparation. invest in line 5, phase 1 (Saigon bridge – Bay Hien intersection). When Metro lines come into operation, the City will definitely have a new look.

However, how best to control that new look? How do these huge investments actually yield the highest socioeconomic returns? To solve this problem, as President of SACA, Mr. Le Viet Hai proposed 7 solutions to bring efficiency in construction and land use to invest in the construction of the Metro system in Ho Chi Minh City.

Content 7 recommends specific solutions that are: Need to plan land and clear the land with a minimum radius of 300m around the station instead of just clearing the area just enough to build the station, so it will ensure well control the implementation of the planning and effectively exploit the very valuable land around the station.

In parallel with the investment and operation of metro lines in vacant lands with planning and land clearance to build stations with a radius of up to 500m, in order to create an urban chain along the metro line, thereby to attract more customers. population to new urban areas. It is not necessary to build metro along densely populated areas. This solution will reduce pressure on densely populated urban areas and gradually exploit the Metro line effectively.

Along with that, it is necessary to have a reasonable land auction strategy, including regulations on investors’ rights. We need to subdivide the plots not too small, not too large to attract and attract many investors, and create competition on real estate products that bring the most benefits to home buyers. Should boldly remove the regulation on limiting the number of residents in the station area.

Limit high construction density, but not limit the number of floors, except for regulations on flight safety in order to make the most effective use of the space above the land for people’s living. Make sure the ground is well ventilated with a large amount of trees.

It is necessary to combine Metro construction with social housing policy, because it can be affirmed that this is the most suitable area to solve this problem, ensuring both quantity and quality for the welfare of a ministry. very large portion of the population.

Let’s build buildings right on the station as many countries have done because in this way, we will exploit the station land most effectively. Because when living right at the station, people will travel extremely convenient. The state has spent a lot of money to clear the metro construction and this is an effective solution to recover part of the investment capital.

Choose the optimal time to auction land use rights with the target of appropriately raised land asset value. Thus, Ho Chi Minh City will receive more budget. At that time, the investor’s construction was carried out and put into operation at the same time, so it was an effective thing for both parties. “According to my observations, there are locations where there is no infrastructure, the price is only 1/3 or less than when the infrastructure is completed”, Mr. Le Viet Hai mentioned.

BSR needs to step up research and development and optimize production

sgwcontent — Mon, 20 Feb 2023 02:21:53 +0000

(TN&MT) – That was the direction of the General Director of the Vietnam Oil and Gas Group (Petrovietnam) Le Manh Hung at the meeting with Binh Son Refining and Petrochemical Joint Stock Company (BSR).

Reporting at the meeting, General Director of BSR Bui Ngoc Duong said: In January and the first half of February, Dung Quat Oil Refinery operated safely, continuously and stably at optimum capacity. In January, Dung Quat Oil Refinery produced and brought to the market more than 585 thousand tons of petroleum products of all kinds, reaching 106% of the plan. Financial targets have been met and exceeded.

Judging that 2023 is an opportunity for BSR to accelerate production and business development, as well as a year to face many new challenges, BSR has set business and production goals this year with specific targets: Factory capacity match at optimum level; Focusing on forecasting, assessing growth potential/dynamics in the fields (production, business, finance) to develop plans to complete the approved and assigned plans. At the same time, the organization effectively implements cost management / product costs, cash flow management, and debt management to contribute to increasing revenue and profit for BSR.

Besides, in investment work, BSR focuses its investment resources on effective, urgent and key projects; implementing synchronously and effectively the portfolio management, optimizing resources and constantly consolidating and perfecting the system of regulations/investment management processes of BSR. Scientific research continues to strengthen cooperation with research institutes, corporations/refinery/chemical companies/energy in order to shorten research and development time, bring the world’s latest technology applications. in order to create breakthroughs in development, improve labor productivity and competitiveness of BSR; Focus resources on research to expand sources of raw materials, new products/high-value products.