News
PRESS DIGEST - Vietnam newspapers - Sept 25
www.reuters.com
[Reuters] - Hoa Phat Group said it has bought back 20 million shares worth 264 billion dong ($12.7 million), equivalent to a 10-percent stake, of its subsidiary Hoa Phat Steel Co, from arrested bank tycoon Nguyen Duc Kien's ACB Investment Co. ECONOMIC AND
Credit ratings 'would help minimise risks'
english.vietnamnet.vn
[VietNamNet Bridge] - Nguyen Duc Huong, vice chairman of LienVietPost Bank's management board said credit activities accounted for per cent of banks' income. However, they have faced risks as some borrowers have tried to use capital for the wrong purposes and have
Indices tumble on ACB fears
vietnamnews.vnagency.com.vn
[Viet Nam News] - The Ministry of Public Security prosecuted bank millionaire Nguyen Duc Kien, the co-founder of the bank, of fraudulent appropriation of property. In addition, two accomplices were found: the director and chief accountant of ACB Ha Noi Investment Company.
Updated Facebook Page Serves as Leading Indicator
www.bloomberg.com
[Bloomberg] - So, last month when police arrested banking mogul Nguyen Duc Kien on vague charges that many feared smacked of politics, local markets tumbled. When the plight of one man imperils your economy, you have serious problems. Myanmar can avoid these
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