Indonesia News Gazette

Bangkok, DEPA joins with 3 professional associations to continue increasing energy efficiency and renewable energy. Aiming to create strong professional standards in energy conservation and renewable energy. Prepare to produce more than 1,400 energy personnel to drive efficient and environmentally friendly sustainable energy use.

Mr. Watthanaphong Kurovat, Director-General of the Department of Alternative Energy Development and Efficiency, revealed that the Department of Alternative Energy Development and Efficiency (DEPA) has organized a signing ceremony for a memorandum of understanding (MOU) to support and develop energy efficiency. and alternative energy Between the Thai Electric Generator Association by Mr. Thawatch Meechai, President of the Thai Electric Generator Association Building Inspectors Association by Dr. Pitchaya Chandranuwat President of the Building Inspectors Association and the Electrical Lighting Association of Thailand By Assistant Professor Dr. Pathomthat Jiradecha, President of the E
lectrical Lighting Association of Thailand, at the Chaloem Phrakiat Energy Conservation Building. Pathum Thani Province

Mr. Watthanaphong said that this signing is a continuation of cooperation between the 4 agencies, continuing from the end of the original memorandum of understanding. The main issue is to support and develop energy efficiency and renewable energy. In terms of operational standards Database system Knowledge support Personnel development for engineers, architects, building and factory administrators Building and factory officials responsible for energy Energy management auditor and certifier building inspector Energy conservation assessor Controlled Energy Production System Inspector and the general public to lead to efficient and environmentally friendly energy use.

The first activity that will occur from this cooperation is a training course on ‘Creating a Controlled Energy Production System Inspection Model’ in the case of controlled energy production from generators and solar energy in o
rder to develop energy efficiency standards for controlled electricity generation. Transferring energy knowledge and technology and sharing information Energy use for the business sector and industry and personnel development organized training for inspectors of controlled energy production systems to increase their knowledge and understanding of the criteria. Methods and conditions for inspecting and preparing a controlled energy production system inspection report. To provide opinions in considering the issuance of licenses to produce controlled energy from generators and solar energy. Including developing energy efficiency standards and disseminating knowledge about building construction design or building modification for energy conservation to the business and industrial sectors. Last year, a total of 181 people passed the training, with the DEPA aiming to produce more than 1,400 controlled energy production system inspectors in order to be sufficient and keep up with the energy saving trend. Producing a
nd using alternative energy, such as installing solar rooftops, producing energy from biogas systems. of establishments, etc.

Source: Thai News Agency

Bangkok, SET closed today at 1,361.10 points, an increase of 3.64 points (+0.27%), trading value 38,553.81 million baht.

Stock trading today The index swings in positive territory within a narrow range. It made the lowest point of 1,355.44 points and the highest point of 1,364.91 points. As for securities, today’s change increased by 203 securities, decreased by 239 securities, and remained unchanged in 211 securities.

Source: Thai News Agency

SET, TERA shares opened for trading on the first day above reserve at 3.90 baht, an increase of 2.15 baht, accounting for 122.8% from the IPO price of 1.75 baht.

Mr. Praphan Charoenprawat, Manager of the Market for Alternative Investment (mai), and Mr. Surasit Kew Prasopsak Chief Executive Officer of Terabyte Plus Public Company Limited attended the trading opening ceremony. First day of securities on the stock exchange in the MAI securities market of Terabyte Plus i Public Company Limited under the technology group Using the trading abbreviation “TERA” today (April 24), the first day of trading opened at a price of 3.90 baht, an increase of 2.15 baht, representing 122.8% from the IPO price of 1.75 baht.

TERA is a subsidiary of Next Point Public Company Limited (NEX). There are 2 100% invested companies, namely Cluster Systems Company Limited and Skyfrog Company Limited. The group operates as a designer. Install and distribute IT equipment and providing services regarding large-scale, integrated informatio
n and communication technology (ICT) infrastructure systems.

The IPO price is 1.75 baht, representing a fund-raising value of 157.50 million baht. The security value at the IPO price is 420 million baht,

representing a price-to-net-earnings-per-share ratio (P/E ratio) of approximately 14.50 times. The money raised from this fund-raising will Used to invest in Cloud systems and invest in related businesses that have potential. To support the growth of the company and use it as working capital within the business.

Source: Thai News Agency

Hanoi: The State Bank of Vietnam (SBV) on April 23 took some moves like issuing treasury bills (T-bills), further employing T-bills as an open market operation (OMO), and stipulating liquidity and interest rates in the inter-bank market in the face of surging USD/VND exchange rates.

The central bank lent nearly 36 trillion VND (1.4 billion USD) for a 14-day term to nine members via the OMO channel. The bid-winning interest rate rose to 4.25% per year from 4% per year as recorded recently.

The seven-day loan, issued on April 16 via the OMO channel, also matured on April 23 with total value approximating 12 trillion VND.

The bank also continued to issue 2.15 trillion VND worth of 28-day T-bills with an interest rate of 3.73%. Two members won the bidding.

Besides, the T-bills issued on March 26 also became mature on April 23, enabling the central bank to inject 3.7 trillion VND back to the market.

Experts said the maintenance of inviting bids for T-bills will help the SBV form a steady zone of floor prices
for inter-bank interest rates via bid-winning rates. The concurrent use of T-bills and OMO aims to serve the twin targets of guaranteeing liquidity for the banking system to maintain low interest rates in the market and easing pressure to narrow the USD/VND exchange rate differences in the inter-bank market.

Talking to the press, Tran Duc Anh, Director for macro-economy and market strategy at the KB Securities Vietnam JSC, held that the SBV has carried out many measures for stabilising exchange rates like attracting money flows via T-bills in the open market.

However, such moves are still not strong enough to stabilise foreign exchange rates as inter-bank interest rates keep growing. Therefore, the bank may take stronger interventions in the time ahead, he opined.

SBV Deputy Governor Dao Minh Tu affirmed that exchange rates form a critical factor in macro-economic governance. They affect not only the value of the Vietnamese dong or people’s purchasing demand but also policies, macro-economic stability, inf
lation control, market psychology, and investors’ trust.

Therefore, the SBV always views stipulating exchange rates as one of the extremely important tasks, he said, noting that it will continue flexible governance to ensure exchange rates changes in line with the common trend and the foreign currency balance is guaranteed for legal demand in the market.

On April 23, the central bank set the daily reference exchange rate at 24,275 VND per USD, up 3 VND from the previous day./.

Source: Vietnam News Agency

Hanoi: Though the State Bank of Vietnam (SBV) has announced it is selling the US dollar to intervene in the USD/VND exchange rate since April 19, the greenback price has remained high, which has been directly affecting many domestic enterprises.

The USD/VND exchange rate listed at VietinBank and BIDV on April 23 was at 25,180 VND and 25,485 VND per USD dollar for buying and selling, an increase of 20 VND compared to the previous session.

Vietcombank’s rate also stood high at 25,145 VND and 25,485 VND per dollar for buying and selling.

This was the sixth session that the selling price of the dollar at banks has consecutively broken its peak, moving closer to the threshold of 26,000 VND per dollar.

On the unofficial market, the dollar price on April 24 also increased by 90 VND per dollar for buying and 110 VND per dollar for selling compared to last week to reach 25,770 VND and 25,870 VND per dollar for buying and selling, respectively.

In the context of the sharp appreciation of the dollar, the SBV on Apr
il 19 announced it was selling the greenback to banks with negative foreign currency status at the price of 25,450 VND per dollar, 23 VND per dollar lower than the SBV’s cap, to influence the exchange rate. This move is expected to help cool down the domestic exchange rate but it is continuing to accelerate due to the high level of the dollar in the international market.

The sharp increase in the dollar price has caused difficulties to many domestic companies.

A seafood import company in Hanoi, which declined to be named, calculated that for each 100,000 USD order paid to a partner, it would have to spend an additional 100-150 million VND.

Nguyen Dang Hien, General Director of Tan Quang Minh Company, said the beverage manufacturing industry is facing many difficulties, including increased exchange rates.

According to Hien, his company currently has to import some types of orange juice, some flavours and plastic beads from other countries and most have to be paid in the dollar, which has increased producti
on costs by 4-5%. However, product selling prices have not increased for many months due to weak purchasing power.

To limit damage from the rising exchange rate, the Tan Quang Minh Company is trying to promote the search for domestic raw material sources to replace imports, and increase exports to markets paying in the dollar, Hien said.

Director of SKD Vietnam Mechanical Company Nguyen Van Ket said companies’ plans will not be affected if the Vietnamese dong depreciates by some 2-3% this year as previously forecast. However, the dong has so far strengthened by nearly 5%, while raw material prices, input and international transportation costs remain high due to rising gasoline price, which cause more difficulties for businesses.

In the context of the rising exchange rate, experts recommend that importing businesses need to pay attention to exchange rate risk prevention tools, and carefully consider the terms in foreign currency loan contracts.

Besides, it is also necessary to maximise domestic resources a
nd find alternative domestic partners to gradually reduce dependence on import markets to lower costs and limit risks when the world market fluctuates.

In addition, businesses should also choose banks with good trade support capabilities, and consider using derivative financial instruments and swap contracts, appropriately and in accordance with regulations, to reduce risks when exporting in the context of the current exchange rate fluctuations./.

Source: Vietnam News Agency

Hanoi: Another bidding session for 16,800 taels of gold bullion will be held on April 25, the State Bank of Vietnam said in a statement.

The bank said the auctions aim at ensuring stable, transparent, and effective operation of the domestic market.

Bidders need to deposit 10% of their purchase value. Each is allowed to place order for at least 1,400 taels and at most 2,000 taels.

State-owned gold producer and distributor Saigon Jewelry Company and Asia Commercial Joint Stock Bank (ACB) bought 3,400 taels out of the16,800 offered by the central bank during the auction on April 23. The gold was purchased for 81.33 million VND (3,195 USD) per tael at the highest, and 81.32 million VND at the lowest, against the base price of 81.30 million VND.

Economists said bidders were prudent at the auction on April 23, with only two among the 11 participants winning bids, adding psychological factor has affected the domestic demand for gold in recent time.

SJC gold prices rebounded following the auction, at 82.3 millio
n for buyers and 84.3 million for sellers, up 1.3 million and 1 million VND per tael, respectively, at 13:14 on April 24.

Meanwhile, Doji gold prices rose 2 million VND and 1.5 million VND to 82 million VND for buyers and 84 million VND for sellers./.

Source: Vietnam News Agency

Singapore: Five Vietnamese enterprises operating in the fields of food and hospitality are attending the Food and Hotel Asia (FHA) 2024 which is taking place in Singapore from April 23-26.

This year’s event attracts over 1,500 businesses from more than 50 nations and territories and expects to welcome 60,000 visitors.

Vietnamese booths draw the attention of many visitors with their wide variety of products such as confectionary, beverage, frozen foods, pepper and other spice products, and canned and dried fruit.

Speaking at the opening ceremony, Singaporean Minister of Trade and Industry Low Yen Ling said that FHA-F and B is an equal playground for enterprises to seek collaboration in today’s free trade agreement networks. It also aims at internationalisation, continuous innovation and sustainable development in the field of food and hospitality.

Vietnamese Ambassador to Singapore Mai Phuoc Dung emphasised that the participation of Vietnamese enterprises has shown their enormous efforts in studying food
and hospitality development trends in the world. He affirmed that the event also helps to promote more Vietnamese product to foreign markets.

Through the event, Vietnamese enterprises anticipate opportunities to meet potential partners, bringing more Vietnamese agricultural brands to international market.

Michael Duck, Executive Vice President of Informa Markets stressed that Vietnam is a supplier of many important food items and the event is an occasion to expand the market further./.

Source: Vietnam News Agency

Ca Mau: A networking conference was held in the Mekong Delta province of Ca Mau on April 24, in a bid to connect 54 local enterprises, mostly operating in the seafood sector, to their Chinese peers.

In his remarks, Chairman of the provincial People’s Committee Huynh Quoc Viet said this event marks the beginning of a new phase in the cooperative relationship between the province and Chinese localities. He expressed his belief that it will lead to the signing of contracts and implementation of many programmes.

Wei Huaxiang, Consul General of China in Ho Chi Minh City, considered the meeting a practical activity to carry out common perceptions between the two Parties and countries, tightening their cooperation and friendship.

He cited incomplete statistics that about 500 Chinese firms and customers annually place orders to purchase shrimp, crabs, and other seafood products from Ca Mau. Therefore, in the future, the sides’ business communities should learn about each other’s customs and cultures, serving long-
term and practical partnerships and creating mutual benefits.

He pledged the Chinese Consulate General in HCM City’s willingness to act as a bridge facilitating their connection and trade.

On the sidelines, Ca Mau firms showcased their fisheries products and specialties recognised under the One Commune, One Product (OCOP) programme.

In 2023, trade between Ca Mau and China reached 97 million USD, accounting for a very modest proportion of the overall Vietnam-China trade./.

Source: Vietnam News Agency