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* Vietnam National Petroleum Corp., the nation's biggest fuel supplier, raised VND412.3 billion (US$20.06 million) at its initial public offering Thursday, according to information posted on the Hanoi Stock Exchange's electronic board. Petrolimex, as the company is known, sold 27.4 million shares at an average price of 15,032 each, according to the exchange. The shares will list at a later date.

* Honda Motor Co.'s joint venture in Vietnam will invest $120 million to set up a new motorcycle plant in the country, Honda said in a statement.  The plant is scheduled to go into production in the second half of 2012 and may add 500,000 vehicles to the venture's capacity, the statement said.

* Dragon Capital, a Vietnam-based fund manager, said it has sold its entire 8.17 percent stake in Sacombank to two foreign firms, completing a ten-year equity holding in the bank.

* Vietnam Sugar & Sugarcane Association has asked the country's agricultural ministry for a halt to imports of the sweetener, Dau Tu newspaper reported, citing Ha Huu Phai, spokesman for the industry group. Domestic production is sufficient and can meet local demand, so the government should not allow more sugar imports now, Phai said.

* Vietnam has a record 590,000 metric tons of steel billets in stockpiles as of July due to declining consumption, Thoi Bao Kinh Te Viet Nam newspaper reported. High interest rates and scarcity of raw materials may force about 20 percent of steel producers into bankruptcy, it said.

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