Sasin Graduate Institute of Business Administration of Chulalongkorn University in cooperation with the Market for Alternative Investment (mai) organized the mai Bangkok Business Challenge® @ Sasin 2010 for H.M. The King’s Award the as a stage for young entrepreneurs to learn how to draw up a business plan that will result in a joint investment. The competition is supported by The Stock Exchange of Thailand (SET), Kiatnakin Bank Co., Ltd. and the Money Channel.
Sasin Graduate Institute of Business Administration of Chulalongkorn University (Sasin) and the Market for Alternative Investment (mai) opened the mai Bangkok Business Challenge® @ Sasin 2010 as an arena for master’s degree students of leading universities from 15 countries worldwide to compete for H.M. The King’s Award and a prize of over 800,000 baht. Since 2002, The Bangkok Business Challenge®, Thailand’s premier business plan competition conducted in English, has encouraged post-graduate students in business administration programs across Thailand and Asia to become more entrepreneurial. After four annual events, the Bangkok Business Challenge® was renamed “The mai Bangkok Business Challenge® @ Sasin” in 2007, co-hosted by the Market for Alternative Investment (mai). It set a new precedent in the standard of regional business plan competitions. And, starting in 2008, the competition welcomes participation from all nations across the globe, becoming the first and only truly global new venture business plan competition in the Kingdom.
Professor Toemsakdi Krishnamra, Director of Sasin, stated that “in this unstable economic environment, creativity, practical knowledge and clear business planning are the key factors to success. Business plan competitions provide one opportunity for business administration students to prove their capability in a practical way. Feedback from the judges who are successful business people from various fields is a bonus for all students in the competition.”
Each year, the business plan competition becomes more intense in respect of the quality of the business plans developed and the weider representation from the education institutions participating in the competition. This year the trend is to feature “green” business that is environmentally friendly.
With the theme of “The Seed of Success” this year, the trend has been “green” or environmentally friendly business. Fifty-five teams from 40 world class universities located in 15 countries signed up, including Cornell University, ESSEC, Mannheim Business School, Aarhus School of Business, Queensland University of Technology, Tsinghua University, Keio University, etc.
Mr. Vichate Tantiwanich, SET Chief Marketing Officer, Issuer &Listing and the Chairman of the mai Advisory Committee revealed that “SET is pleased to be able to again participate in developing new entrepreneurs from the mai Bangkok Business Challenge® @Sasin. Such activities are in line with mai’s mission to give significance to and support strong entrepreneurs, as good business plans lead to sustainable businesses. Having good plans will help firms find capital sources, including joint-ventures or banks and leads to fundraising on mai, an alternative market supporting the growing business of new entrepreneurs,” he continued.
“This year, the mai Bangkok Business Challenge® @Sasin competition is very challenging as competitors will have to present business plans to be implemented under economic uncertainty. Competitors must combine academic knowledge with business ideas, presenting a plan that is strong, including having robust corporate governance and social responsibility, which are important factors in doing business these days. Meanwhile, mai would love to see the business plans presented really come to fruition, with real joint-ventures carried out, which is the real objective of this project. mai, therefore, has invited executives from listed firms to listen to the final round of the business plan competition.”
Thitinan Wattanavekin, Head of Deposit and Marketing for Kiatnakin Bank Public Company Limited, said “being an official sponsor of ‘The mai Bangkok Business Challenge @ Sasin’ for eight consecutive years under the Human Development for National Development by Kiatnakin Project is part of Kiatnakin Bank’s Corporate Social Responsibility (CSR) framework and the Bank takes great pride in providing this support for educational development. The Bank expects this English business plan contest to inspire the creation of new entrepreneurs with strong skills in business plan writing and possessing healthy sense of social responsibility. In addition, this prestigious contest provides Thai MBA students with a good opportunity to demonstrate their business acumens through their business plans and attract the interest of potential investors. More importantly, students will gain exposure to different ideas and perspectives from fellow contestants and be able to develop them into new intellectual capital for the Thai economy. Therefore, Kiatnakin Bank delights in providing support to this project which will lead to the creation of knowledgeable and responsible entrepreneurs whom we hope will contribute significantly to future national economic development”.
Sixteen teams from 11 countries have passed the qualifying round of the mai Bangkok Business Challenge® @ Sasin 2010 comprising 3 Thai teams and 13 foreign teams from these countries, Commonwealth of Australia, Federal Republic of Germany, Kingdom of Denmark, Kingdom of Spain, Kingdom of Thailand, People's Republic of China (China), Republic of China (Taiwan), Republic of India, Republic of Indonesia, Republic of Singapore and The United State of America.
Saturday, January 30, 2010
Friday, January 29, 2010
HSBC increases stake in Vietnam’s largest insurance and financial services group
Following regulatory and shareholder approvals, HSBC Insurance (Asia-Pacific) Holdings Limited (HSBC) has increased its shareholding in Bao Viet Holdings to 18 per cent from 10 per cent through the purchase of 53,682,474 new shares for a consideration of VND1.88 trillion (approximately US$101.8 million).
HSBC acquired a 10 per cent interest in Bao Viet, Vietnam’s leading insurance and financial services group, in September 2007. Under the terms of the original agreement, HSBC had an option to purchase a further eight per cent of Bao Viet shares from the Ministry of Finance (MoF). In October 2009 the MoF gave formal consent for this option to be exercised through the issue of new Bao Viet shares to HSBC.
Sandy Flockhart, Chief Executive Officer of The Hongkong and Shanghai Banking Corporation Limited, said: “The decision to increase our stake in Vietnam’s leading insurance and financial services group is reflective of our confidence in the long-term growth of both Bao Viet and Vietnam. In line with our strategy, we continue to focus on emerging market opportunities and to provide insurance, wealth protection and wealth management services across Asia-Pacific.”
David Fried, Chairman and Chief Executive Officer of HSBC Insurance for Asia- Pacific, said: “With an insurance penetration of only 1.4 per cent of GDP, the potential for growth in Vietnam is significant. We remain committed to investing in Vietnam’s development and see the country as a key market within the Asia-Pacific region.”
As part of the original agreement, HSBC continues to hold certain pre-emptive rights to acquire shares currently owned by the MoF with a maximum HSBC shareholding of 25 per cent within the first five years of the agreement and prevailing foreign ownership limits thereafter.
With a population of 87 million, a quarter of which is under the age of 15, Vietnam is one of the few economies that has continued to see resilient GDP growth throughout the financial crisis. Over the past few years, the government has introduced supportive measures to liberalise Vietnam’s financial markets and HSBC has correspondingly strengthened its presence and investments in the country.
In addition to its strategic investment in Bao Viet, HSBC also holds a 20 per cent stake in Vietnam Technological and Commercial Joint Stock Bank (Techcombank). HSBC also locally incorporated its Vietnam operations in January 2009, and subsequently expanded its distribution network from two branches and one representative office to 10 outlets currently. It has also partnered with Vietnam Posts Corporation to provide access to HSBC banking services for customers at more than 1,600 post offices across the country.
HSBC acquired a 10 per cent interest in Bao Viet, Vietnam’s leading insurance and financial services group, in September 2007. Under the terms of the original agreement, HSBC had an option to purchase a further eight per cent of Bao Viet shares from the Ministry of Finance (MoF). In October 2009 the MoF gave formal consent for this option to be exercised through the issue of new Bao Viet shares to HSBC.
Sandy Flockhart, Chief Executive Officer of The Hongkong and Shanghai Banking Corporation Limited, said: “The decision to increase our stake in Vietnam’s leading insurance and financial services group is reflective of our confidence in the long-term growth of both Bao Viet and Vietnam. In line with our strategy, we continue to focus on emerging market opportunities and to provide insurance, wealth protection and wealth management services across Asia-Pacific.”
David Fried, Chairman and Chief Executive Officer of HSBC Insurance for Asia- Pacific, said: “With an insurance penetration of only 1.4 per cent of GDP, the potential for growth in Vietnam is significant. We remain committed to investing in Vietnam’s development and see the country as a key market within the Asia-Pacific region.”
As part of the original agreement, HSBC continues to hold certain pre-emptive rights to acquire shares currently owned by the MoF with a maximum HSBC shareholding of 25 per cent within the first five years of the agreement and prevailing foreign ownership limits thereafter.
With a population of 87 million, a quarter of which is under the age of 15, Vietnam is one of the few economies that has continued to see resilient GDP growth throughout the financial crisis. Over the past few years, the government has introduced supportive measures to liberalise Vietnam’s financial markets and HSBC has correspondingly strengthened its presence and investments in the country.
In addition to its strategic investment in Bao Viet, HSBC also holds a 20 per cent stake in Vietnam Technological and Commercial Joint Stock Bank (Techcombank). HSBC also locally incorporated its Vietnam operations in January 2009, and subsequently expanded its distribution network from two branches and one representative office to 10 outlets currently. It has also partnered with Vietnam Posts Corporation to provide access to HSBC banking services for customers at more than 1,600 post offices across the country.
Sunday, January 24, 2010
The Hanoi Stock Exchange and the Stock Exchange of Thailand signed a Memorandum of Understanding (MoU) to establish cooperation framework
The Hanoi Stock Exchange and the Stock Exchange of Thailand signed a Memorandum of Understanding (MoU) to establish cooperation framework for long term development and mutual benefits.
The Hanoi Stock Exchange (HNX) and the Stock Exchange of Thailand (SET) today announced that they have signed a Memorandum of Understanding (MoU), which will promote cooperation for long term development and mutual benefits for the two exchanges as well as market participants.
Under the Memorandum of Understanding (MoU), HNX and SET aim to strengthen and increase collaborative ties in areas relating to the information exchange, training and development, as well as promotion of business and investment opportunities for their respective market participants, notably through networking mechanism and business matching activities. The mechanism and activities designed to increase business services and values for the listed companies. The two exchanges also plan to promote the dual-listing activities, once the laws and regulations of their respective markets permit.
Mr. Tran Van Dzung, President of HNX, addressed “As the cooperative spirit is central to this MoU, I believe that the agreement will strengthen the relationship that already exists between our two Exchanges, paving the way for closer and more effective cooperation and hence advance our mutual benefits. To a greater extent, this agreement will allow us to tighten the bonding between financial markets in Thailand and Vietnam, making contributions to the integrity of ASEAN economic community as highlighted in the spirit of ASEAN alliance.”
Ms. Patareeya Benjapolchai, President of SET, stated “I strongly believe that under this collaborative framework, fruitful and long term development and engagement for both exchanges will be achieved. Already, Vietnam and Thailand enjoy very close trading and investment ties. The stronger cooperation and relationships will further provide both business and investment opportunities not only for the exchanges but also for all market participants.”
According to the recent survey conducted by the SET, 43 percent of the responding listed companies indicated that they have either preferences or interests in investing in Vietnam. For those have not yet invested in Vietnam, they are in the process of conducting and exploring investment and business expansion opportunities in Vietnam. Business matching and networking activities earmarked under the MoU are thus advantageous to the robust interests and preferences.
The MoU is signed today for a period of five years until 2015.
The Hanoi Stock Exchange (HNX) and the Stock Exchange of Thailand (SET) today announced that they have signed a Memorandum of Understanding (MoU), which will promote cooperation for long term development and mutual benefits for the two exchanges as well as market participants.
Under the Memorandum of Understanding (MoU), HNX and SET aim to strengthen and increase collaborative ties in areas relating to the information exchange, training and development, as well as promotion of business and investment opportunities for their respective market participants, notably through networking mechanism and business matching activities. The mechanism and activities designed to increase business services and values for the listed companies. The two exchanges also plan to promote the dual-listing activities, once the laws and regulations of their respective markets permit.
Mr. Tran Van Dzung, President of HNX, addressed “As the cooperative spirit is central to this MoU, I believe that the agreement will strengthen the relationship that already exists between our two Exchanges, paving the way for closer and more effective cooperation and hence advance our mutual benefits. To a greater extent, this agreement will allow us to tighten the bonding between financial markets in Thailand and Vietnam, making contributions to the integrity of ASEAN economic community as highlighted in the spirit of ASEAN alliance.”
Ms. Patareeya Benjapolchai, President of SET, stated “I strongly believe that under this collaborative framework, fruitful and long term development and engagement for both exchanges will be achieved. Already, Vietnam and Thailand enjoy very close trading and investment ties. The stronger cooperation and relationships will further provide both business and investment opportunities not only for the exchanges but also for all market participants.”
According to the recent survey conducted by the SET, 43 percent of the responding listed companies indicated that they have either preferences or interests in investing in Vietnam. For those have not yet invested in Vietnam, they are in the process of conducting and exploring investment and business expansion opportunities in Vietnam. Business matching and networking activities earmarked under the MoU are thus advantageous to the robust interests and preferences.
The MoU is signed today for a period of five years until 2015.
CITI appointed as delegate trustee & paying agent for first sukuk cleared through NASDAQ Dubai
London, Dubai - January 12, 2010 – Citi’s Global Transaction Services business today announced that Citi Issuer Services has been appointed as the Issuing and Paying Agent for the first Sukuk to be cleared through the central securities depositary (CSD) of NASDAQ Dubai, the international stock exchange serving the Middle East. The $100m Sukuk, issued by the International Finance Corporation (IFC), listed on November 4, 2009. NASDAQ Dubai now has 22 listed Sukuk with a nominal value of US$17.2 billion. The Sukuk issued by IFC, which is part of the World Bank Group, is the first one that uses the NASDAQ Dubai CSD to hold its securities. Citi will be providing the Paying Agency and Delegate Trustee roles on the Sukuk for the life of the deal. Furthermore, as this was a ground-breaking deal, the transaction required Citi to open and administer a "New Issues account" opened with the NASDAQ Dubai to create and deliver the securities into the primary market.
Steve Donovan, Head of Global Transaction Services, Middle East and Pakistan said," As a leading global issuing & paying agent, Citi is thrilled to be extending these services for the first time through the NASDAQ Dubai CSD in this landmark deal. The listing and clearing of the IFC Sukuk is a significant step forward in the further development of Dubai and the Middle East as a centre of excellence for the clearing, settlement and custody of debt securities. Additionally, the inclusion of this new domestic market to the Issuer Services suite of domestic capabilities underscores the growing recognition of our Securities and Funds Services business in the Middle East and our ongoing commitment to the region".
Jeff Singer, Chief Executive of NASDAQ Dubai, said, "As Dubai expands as a centre of Islamic finance, NASDAQ Dubai looks forward to listing more Sukuk and supporting these through its CSD. The successful handling of the IFC Sukuk demonstrates the efficiency and cost effectiveness of the exchange’s CSD framework, which can also handle conventional bonds. Citi’s role as issuing and paying agent has played a key part in the success of the IFC Sukuk listing."
Citi has been in the Arab world for nearly 50 years and continues to view the region as critical to its global franchise. It is currently present in 10 Arab countries including Egypt, UAE, Lebanon, Jordan, Tunisia, Morocco, Algeria, Bahrain, Qatar and Kuwait.
Steve Donovan, Head of Global Transaction Services, Middle East and Pakistan said," As a leading global issuing & paying agent, Citi is thrilled to be extending these services for the first time through the NASDAQ Dubai CSD in this landmark deal. The listing and clearing of the IFC Sukuk is a significant step forward in the further development of Dubai and the Middle East as a centre of excellence for the clearing, settlement and custody of debt securities. Additionally, the inclusion of this new domestic market to the Issuer Services suite of domestic capabilities underscores the growing recognition of our Securities and Funds Services business in the Middle East and our ongoing commitment to the region".
Jeff Singer, Chief Executive of NASDAQ Dubai, said, "As Dubai expands as a centre of Islamic finance, NASDAQ Dubai looks forward to listing more Sukuk and supporting these through its CSD. The successful handling of the IFC Sukuk demonstrates the efficiency and cost effectiveness of the exchange’s CSD framework, which can also handle conventional bonds. Citi’s role as issuing and paying agent has played a key part in the success of the IFC Sukuk listing."
Citi has been in the Arab world for nearly 50 years and continues to view the region as critical to its global franchise. It is currently present in 10 Arab countries including Egypt, UAE, Lebanon, Jordan, Tunisia, Morocco, Algeria, Bahrain, Qatar and Kuwait.
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