DCGCapitalMarket (IFC-37669)

Countries
  • Vietnam
Geographic location where the impacts of the investment may be experienced.
Specific Location
Vietnam
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
May 13, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
DRAGON CAPITAL GROUP LIMITED
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Apr 4, 2021

Disclosed by Bank Mar 29, 2016

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The proposed project involves financing of up to US$50 million to Dragon Capital Group (“DCG”), a holding company for the Dragon Capital group of companies, with total assets of US$233 million as of December 2015, and its subsidiary Vietnam Debt Fund SPC (“VDeF”) and collectively with DCG, the “Company”).

The Company will use the funds to invest in bonds issued by medium to large Vietnamese companies. It would target the private and privatized, listed and unlisted, fast growing companies in need of financing to expand or refinancing situations. The proposed project targets to expand the width and depth of the corporate bond markets in Vietnam, to broaden the investor base of the Vietnamese bond markets, and to support and provide Vietnamese private sector companies with better access to capital.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Founded in 1994, DCG is the leading asset manager in Vietnam. Over the past 20 years, it has established itself as a strong brand among international and institutional investors, particularly in Vietnam, being the oldest foreign investment firm in the country. DCG manages funds across diverse asset classes, including public equity, bonds, private equity, and investments in focused sectors such as real estate and clean technology. Currently, it manages 7 funds with total assets under management of about US$1.25 billion. As of today, DCG is the only foreign manager in Vietnam with significant fixed-income operations through its subsidiary VDeF. DCG also offers investment banking services with an exclusive focus on the Vietnamese capital markets, through its affiliate – Hochiminh City Securities (HSC), the No-2 stock broker by market share.

Mr. Dominic Scriven and Mr. John Shrimpton have an interest in 35.9% and 34.6% of DCG, respectively. The remaining balance of the Company is held by current and former employees and staff.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Founded in 1994, DCG is the leading asset manager in Vietnam. Over the past 20 years, it has established itself as a strong brand among international and institutional investors, particularly in Vietnam, being the oldest foreign investment firm in the country. DCG manages funds across diverse asset classes, including public equity, bonds, private equity, and investments in focused sectors such as real estate and clean technology. Currently, it manages 7 funds with total assets under management of about US$1.25 billion. As of today, DCG is the only foreign manager in Vietnam with significant fixed-income operations through its subsidiary VDeF. DCG also offers investment banking services with an exclusive focus on the Vietnamese capital markets, through its affiliate – Hochiminh City Securities (HSC), the No-2 stock broker by market share.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Dragon Capital Group Limited
1501 Me Linh Point, 2 Ngo Duc Ke, District 1
Ho Chi Minh City, Vietnam
Mr. Pham Nguyen Vinh, Director - Corporate Communication
Mr. Dan Svensson, Director - Fixed Income
Telephone: +84 8 3823 9355
Fax: +84 8 3823 9366

General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

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