May 8, 2009 / 2:04 AM / 10 years ago

PRESS DIGEST - Vietnam newspapers - May 8

HANOI, May 8 (Reuters) - These are some of the leading stories in the official Vietnamese press on Friday. Reuters has not verified these stories.

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FINANCIAL NEWS:

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LAO DONG

— GPBank said its total assests at the end of last year reached 8.26 trillion dong ($465 million) and pre-tax profit was 74 billion dong. The bank projected a 50 percent growth for this year.

— Partly private bank Lien Viet said it made a gross profit of 260 billion dong ($14.7 million) during the first four months of this year, or 56.1 percent of the full-year target. The lender forecast a 5 percent rise in 2009 net profit to 465 billion dong.

— Real estate developer Hoang Anh Gia Lai HAG.HM said its gross profit in the first three months of the year jumped nearly six times to 359.4 billion dong ($20.2 million) from the end of last year on strong sales of apartments over the past few months.

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DAU TU CHUNG KHOAN

— Bao Viet Life insurer said its net profit last year hit 136.9 billion dong ($7.7 million) as insurance premiums rose 12 percent from a year earlier to 4.93 trillion dong. The insurer controls 34 percent of the domestic market in terms of insurance premiums.

— Beta Securities Company has joined partly private lenders NamA Bank and Lien Viet Bank to resume lending based on the value of collateralised stocks. It is expected to use 300 billion dong ($16.87 million) to make the loans.

VIETNAM NEWS

— There are only about 5,000 golfers in Vietnam but the number of golf courses have reached 114, officials said. Many blamed the country had failed to adequately regulate environmental pollution from golf courses.

— State-run BIDV has signed a deal with Petrovietnam’s exploration arm PVEP to provide a loan of nearly $77 million to help PVEP tap oil from Nam Rong Doi oilfield.

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NHAN DAN

— Sugarcane output in the 2009-2009 crop year dropped nealry 19 percent from the previous crop to just 13.5 million tonnes due to reduced cultivation acreage and lower yield, the agriculture ministry said.

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LAO DONG

— Petrovietnam’s insurance arm PVI said it had started selling a new insurance policy that covers treatment cost for H1N1 flu patients.

- - - - (Reporting by Hanoi Newsroom)

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