Morning news 18-12: Proposal to calculate salary groups of Vietlott and Southern lottery companies

Some notable news: Foreign investors withdrew nearly 90 trillion VND from the Vietnamese stock market; A securities company belonging to the FLC group replaced its chief accountant 4 times in over a year; Measles outbreak in Ho Chi Minh City continues to rise, with over 300 cases per week...

Southern Vietnam lottery sales surged to 150 billion VND per draw during the Lunar New Year of the Year of the Snake - Photo: LE DAN

Proposal to calculate the salary scale for Vietlott and other Southern Vietnam lottery companies.

According to news from the Ministry of Finance , the ministry has just sent its comments to the Ministry of Labor, Invalids and Social Affairs regarding the draft decree on labor management, wages, remuneration, and bonuses in state-owned enterprises.

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Accordingly, the draft regulations indicate that the Vietnam Computerized Lottery Company (Vietlott) will be classified in the same salary group as lottery companies in the Southern region.

However, Vietlott has a unique business model that differs from other lottery companies in Southern Vietnam because it is a business partnership with a foreign partner.

Specifically, the foreign partner invests capital in the technical infrastructure for the computerized lottery business. Annually, Vietlott pays the foreign partner a fee equivalent to a percentage of ticket sales revenue during the period of the business cooperation project.

Due to the aforementioned partner fees, Vietlott's annual profit will be approximately 500 billion VND lower compared to other Southern lottery companies with similar revenue.

Therefore, the Ministry of Finance proposes that when calculating Vietlott's profit target to determine the basic salary, the amount of fees payable annually to foreign partners according to the business cooperation contract should be added.

Based on the above opinions, the Ministry of Labour, Invalids and Social Affairs will review and compile a report for the Prime Minister.

Foreign investors withdrew nearly 90 trillion VND from the Vietnamese stock market.

In its recently published report, SSI Securities stated that in the first 11 months of this year, foreign investors sold a net of approximately 88,000 billion VND on the HoSE exchange – the highest amount ever recorded.

Stock trading session at MB Securities Joint Stock Company (MBS) North Saigon branch, Phu Nhuan district, Ho Chi Minh City on the morning of August 26 - Photo: QUANG DINH

Nevertheless, in terms of market capitalization, the foreign ownership ratio reached approximately 21% on November 29, 2024, a decrease from 22.2% at the end of 2023, but still higher than the 19.5% in 2012 and most recently 20.3% in 2021 when the market size had significantly improved.

Foreign investors had a net selling period almost throughout the month, but showed signs of returning to net buying in the last week of the month as the domestic exchange rate cooled down.

According to SSI, the net selling value of foreign investors increased to nearly VND 12,000 billion in November, including VND 9,500 billion executed through order matching and VND 2,500 billion through negotiated transactions.

Accordingly, the proportion of foreign investors' transactions increased to 13.92% at the end of November, the highest since April 2023. Foreign investors sold heavily in key sectors such as residential real estate, banking, financial services, and food and beverages, putting pressure on stock prices. Meanwhile, sectors that saw slight net buying included personal and household goods, utilities, petroleum, and insurance.

Securities accounts will be suspended from online trading if the citizen identification number has not been updated.

According to the State Securities Commission's official document on reviewing and standardizing investor data under Project 06, from January 1, 2025, for cases where investors have completed the verification, updating, and standardization of securities account information, service providers will resume normal operations.

Conversely, for investors who have not yet cooperated to complete the updates, the committee recommends that the relevant units require investors to complete the updating and standardization of information before conducting transactions.

Previously, investors were required to update their national identity cards starting from October 1, 2024.

Later, this deadline was extended to the beginning of 2025. The extension of the account verification deadline stemmed from difficulties and obstacles encountered by many securities companies during the implementation process.

Some units have requested an extension of the completion deadline to allow them time to implement technical solutions for standardizing and cleaning up data on individual investors.

A securities company belonging to the FLC group has replaced its chief accountant four times in just over a year.

The Board of Directors of BOS Securities Joint Stock Company (ART) - a unit within the FLC ecosystem - has just approved the dismissal of Ms. Dao Thi Kim Ngan from her position as chief accountant.

Ms. Dao Thi Kim Ngan is responsible for handing over her duties, files, and documents in her current position to the person appointed by the board of directors to replace her.

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The person replacing Ms. Ngan as chief accountant is Ms. Le Thi Thuong. According to the resume provided by BOS, Ms. Thuong was born in 1983, is from Nghe An province, and holds a bachelor's degree in corporate accounting.

Since June last year, BOS has had four changes in its chief accountant. Ms. Ngan was appointed chief accountant in October last year. Prior to that, Ms. Nguyen Thi Thuy only held this position for a little over a month.

LPBank has been approved to increase its capital by nearly 4,300 billion VND.

Loc Phat Vietnam Commercial Joint Stock Bank - LPBank (LPB) has just announced a resolution on the implementation of dividend issuance to existing shareholders to increase charter capital in 2024 after receiving approval from the State Bank of Vietnam.

Accordingly, the charter capital is expected to increase by nearly 4,300 billion VND, equivalent to 429.7 million shares, to pay dividends at a ratio of 16.8%.

The bank stated that the capital for the issuance comes from undistributed after-tax profits as of the end of 2023, as shown in LPBank's audited financial statements for 2023.

Currently, LPBank's charter capital is 25,576 billion VND. After the plan is finalized, the charter capital is expected to increase to 29,873 billion VND.

Previously, LPBank's 2024 annual general meeting of shareholders approved a plan to increase its charter capital from VND 25,576 billion to VND 33,576 billion through the offering of 800 million shares to existing shareholders.

Measles cases in Ho Chi Minh City continue to rise, exceeding 300 cases per week.

According to the Ho Chi Minh City Center for Disease Control, from December 9th to December 15th (week 50), the city recorded 373 cases of measles, a 29% increase compared to the average of the previous four weeks.

Thus, the total number of measles cases accumulated from the beginning of 2024 to week 50 is 3,189. Districts with a high number of cases include Binh Chanh District, Binh Tan District, and Thu Duc City.

Week 50 also saw 613 cases of dengue fever, a decrease of 15.7% compared to the average of the previous four weeks.

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The total number of dengue fever cases accumulated from the beginning of 2024 to week 50 is 14,865. Districts with high numbers of cases per 100,000 people include District 1, Thu Duc City, and District 7.

During the week, the city also recorded 191 cases of hand, foot, and mouth disease, a decrease of 27.4% compared to the average of the previous four weeks.

The total number of hand, foot, and mouth disease cases accumulated from the beginning of 2024 to week 50 is 16,367. Districts with high numbers of cases per 100,000 people include Can Gio District, Nha Be District, and District 8.

To prevent hand, foot, and mouth disease and dengue fever, people need to continue implementing measures recommended by the health sector.

Parents should take their children to a medical facility to receive both doses of the measles vaccine according to the immunization schedule to build immunity for the child.

Main news in today's Tuoi Tre daily newspaper, December 18th. To read the printed Tuoi Tre newspaper in E-paper format, please subscribe to Tuoi Tre Sao HERE.

Weather forecast for today, December 18th.

Preparing the land for the winter-spring crop - Photo: THAI VINH PHU

Source: https://tuoitre.vn/tin-tuc-sang-18-12-de-nghi-tinh-toan-nhom-muc-luong-cua-vietlott-va-cac-cong-ty-xo-so-mien-nam-20241217170452056.htm