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Day: June 25, 2024

Spain renewables giant looking at central provinces for Vietnam expansion

the-shiv June 25, 2024

Of note, a combination of favorable climate conditions, supportive government policies, and rising demand has made Vietnam a promising market for renewable energy development in recent years. In particular, southern Vietnam has high solar irradiance and strong, consistent winds. The average annual sunshine duration in Khanh Hoa province is 2,600 hours per year, while Ninh Thuan province has the most hours of sunshine in a year, in Vietnam, reaching up to 2,800 hours…

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Vietnam construction firm bucks industry downturn with new foreign invested projects

the-shiv June 25, 2024

Coteccons has performed relatively well over the last year or so, despite industry challenges due to a border slowdown in the real estate market. Notably, it has won several key industrial construction contracts for foreign businesses like LEGO, Foxconn, and Pandora. Furthermore, Coteccons is reportedly heading up construction of factory projects in India and Indonesia for electric car maker VinFast…

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Heineken to halt making beer at central Vietnam factory on declining sales

the-shiv June 25, 2024

This is on the back of declining sales that the firm is attributing to broader economic challenges but also Decree 100 which reduced the allowed blood alcohol content when driving in Vietnam to zero. Decree 100 has repeatedly fallen into the cross-hairs of local alcohol producers, distributors, and retailers in Vietnam over the last year or so…

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Vietnam’s Masan Group refutes claims SK Group has exercised put option

the-shiv June 25, 2024

In 2018, SK group bought 109.9 million shares in Masan Group for VND 100,000  or US$4.29 per share for a total of just over US$470 million. Masan, which trades under the ticker MSN, closed at VND 76,200 or US$2.99 Friday valuing the company’s holding at about US$328.6 million. A sizable loss if sold at current prices. SK Group, however, reportedly has a put option whereby it can sell its shares back to the firm at the price in paid back in 2018. It seems unusual that SK Group would not exercise this option under the current circumstances…

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