FPT reports H1 results

Thanks to a positive trading session today, Vietnam National Textile and Garment Group (Vinatex) (UPCoM: VGT) closed the first week of trading at the same price level as it started on the market. VGT ended today at VND13,562 ($0.6), a bit over the initial VND13,500 when the stock started trading on January 3. The stock saw an increase in price on the first day of trading to VND17, 280 ($0.77) before decreasing for four consecutive sessions. Foreign investors currently hold 11 per cent of Vinatex. At the moment, the state, represented by the Ministry of Industry and Trade, is the biggest shareholder with 53.49 per cent. The second biggest shareholder is Vietnam Investment Development Group with 14 per cent. Vingroup holds 10 and individual investor Bui Manh Hung 6 per cent. Foreign holdings have not increased since the company finalised the list of shareholders in July 2016. In 2016 the company reported a consolidated revenue of VND41.34 trillion ($1.83 billion), up 5 per cent on-year, while consolidated pre-tax profit was VND1.43 trillion ($63.36 million), up 9 per cent. The General Department of Vietnam Customs estimated Vietnam’s total export of garment and textile products at $22.58 billion in the year to December 15, up 4.8 per cent on-year. This is the lowest growth in 10 years. In 2017 Vinatex targeted a 12 per cent increase in revenue and 6 per cent increase in pre-tax profit. RELATED CONTENTS: Vinatex-invested Pho Noi B fined for polluting the environment By Ha Duy... [read more]

After years of continuous losses, Vietnam's largest state-owned shipping company Vinalines recorded a consolidated profit reaching the break-even point in 2016, amid the global shipping sector’s extreme difficulties. The giant earned a pre-tax profit of VND923 billion ($41.95 million) and VND1.139 trillion ($51.77 million) in port operation and maritime services and others in 2016, while incurring a loss of VND1.98 trillion ($90 million) from its shipping business line, said acting CEO Nguyen Canh Tinh at last week's year-end review meeting. The Vinalines holding company gained a pre-tax profit of VND340 billion ($15.45 million) during the year, up 4 per cent on-year, he added. With these positive results, the firm was taken off the list of state-owned enterprises (SOEs) operating at a loss in 2016. In 2015, it was also not on this list with a consolidated pre-tax profit of VND66 trillion ($3.14 million). Between 2011 and 2014 Vinalines often topped the list of SOEs in the red. In particular, it suffered a loss of over VND3.4 trillion ($155 million) in 2014. Of the sum, over VND4.7 trillion ($213.6 million) came from port operation, VND4.3 trillion ($195.45 million) from the shipping business, and VND7.4 trillion ($336.36 million) from maritime services and others. Tinh blamed the ailing revenue on the strong drop in fees driven by the plunging global shipping market, with the Baltic Dry Index (BDI) falling to nearly 240 points. 2016 was a year of extreme difficulties for the global shipping business. Drewry, a leading international provider of research and…... [read more]

Vietnam Airlines boasts hefty profit, debuts on UpCoM Le Anh HCMC - Vietnam Airlines Corporation reported a 140% year-on-year pickup in last year's pre-tax profit at around VND2.5 trillion (US$110 million), or 7% higher than the full-year target. The company officially traded shares on the Market for Unlisted Public Companies (UPCoM) on January 3. A representative of Vietnam Airlines said the aviation market posted high growth, backing the airline's outstanding business performance last year. In particular, the corporation and its subsidiaries obtained consolidated revenue of VND76 trillion (US$3.3 billion), up over 10% year on year, and pre-tax profit of nearly VND2.5 trillion, a 140% year-on-year increase. Of this, the firm earned around VND59.1 trillion in revenue and VND1.6 trillion in pre-tax profit which is 5.6 times higher than in 2015. It paid around VND4.9 trillion to the State budget, an 11% rise from the previous year. The airline operated over 133,000 safe flights carrying 20.6 million passengers in 2016, up 18.7% over 2015. It transported 264,000 tons of cargo, beating its annual target by nearly 10%. The corporation has focused on offering four-star quality service on its major domestic and international routes to southeast and northeast Asian countries, Europe and Australia. Jetstar Pacific, majority-held by Vietnam Airlines Corporation, operates mainly on domestic routes, and offers highly competitive prices, as well as on short-haul international routes, while another offshoot of the corporation, Vietnam Air Services Company (VASCO), offers general aviation services. Upon equitization, Vietnam Airlines Corporation inked a cooperation agreement with…... [read more]

According to the latest report from the Ministry of Information and Communications (MoIC), total revenue in the country’s ICT industry in 2016 is estimated at VND1,337 trillion ($59.9 billion), a year-on-year increase of 9.36 per cent. Revenue from telecommunications was estimated at VND365.5 trillion ($16.4 billion), a year-on-year increase of 7.5 per cent and accounting for 27.32 per cent of the total. The sector contributed VND50.4 trillion ($22.6 billion) to the State budget, accounting for 34.54 per cent of the total. Revenue from information technology (IT) is estimated at VND939.4 trillion ($28.7 billion), a year-on-year increase of 10 per cent, and representing 70.22 per cent of total revenue. The IT industry contributed VND93.9 trillion ($4.21 billion) to the State budget, accounting for 64.38 per cent of the total. As at December, the number of workers in ICT totaled 600,000, including about 300,000 in the hardware industry and the remainder in software and digital content. MobiFone’s revenue reached VND38.4 trillion ($1.72 billion) in 2016, equal to 107.2 per cent of its annual plan and an increase of 14.5 per cent against 2015. Pre-tax profit was estimated at VND5.2 trillion ($233.2 million), equal to 100 per cent of its annual plan, while return on equity was estimated at 25.6 per cent. It contributed VND4.6 trillion ($206.2 million) to the State budget this year. In November, the second-largest local mobile network operator announced plans to earn VND33.1 trillion ($1.48 billion) in revenue and VND4.16 trillion ($186.5 million) in after-tax profit for the year…... [read more]

The Vietnam Post and Telecommunications Group (VNPT) recorded high growth in 2016 compared to 2015, according to figures released by the Ministry of Information and Communications (MoIC). Revenue was VND135.2 trillion ($6.06 billion), up 7 per cent year-on-year, while profit was VND4.1 trillion ($183.8 million), up 20 per cent and equal to 103.8 per cent of its annual plan. Compared with 2015, revenue in 2016 rose VND4.61 trillion ($206 million) and profit VND882 billion ($39.5 million). Revenue from telecommunications and ICT was VND127.4 trillion ($5.71 billion), equal to 103.3 per cent of its annual plan and up 7.6 per cent against 2015. Consolidated revenue was VND53.8 trillion ($2.4 billion), equal to 101.2 per cent of its annual plan and an increase of 6.3 per cent against 2015. As at the end of the year its subscriber numbers totaled 38.6 million, including 31.6 million mobile subscribers, 6.5 million higher than in 2015. The number of new broadband internet subscribers was 3.8 million, increasing 700,000 against 2015, including fiber-to-the-subscriber (FTTx) subscribers of 1.6 million, double the figure last year. VNPT successfully implemented its restructuring plans this year under Decision No. 888 approved by the Prime Minister and continued to conduct restructuring in its entire production and business in telecommunications services and ICT. It targets revenue of VND19.5 trillion ($877.5 million) in the 2016-2020 period, which would give it a market share of 33 per cent and rank it second in the mobile network market. Profit is to be VND24.1 trillion ($1.08 billion),…... [read more]

In a move to attract new investment capital, the Viglacera Corporation will change its listing from the Unlisted Public Company Market (UPCoM) to the Hanoi Stock Exchange (HNX) on December 22 and trade under the code VGC. With a par value of VND10,000 ($0.44) per share, its more than 65 million shares will be valued at VND650 billion ($28.56 million). The starting price will be VND15,600 ($0.69) on the first day of trade on HNX. Last July the Ministry of Construction (MoC), which holds 91.49 per cent of Viglacera, auctioned 11.34 per cent of its shares for VND418 billion ($19 million). The divestment attracted much attention from foreign investors, who purchased 15.5 million shares out of the total of 30 million floated on July 28, according to HNX. The average bid price was VND13,923 ($0.63) against an initial price of VND11,700 ($0.53). As of now, the State, via MoC, remains a majority shareholder in Viglacera, with 78.82 per cent, while foreign shareholders have 9.16 per cent and domestic shareholders 12.02 per cent. Its charter capital is registered at VND3.07 trillion ($134.9 million). On December 13 Viglacera’s shares closed at VND15,900 ($0.7), up VND5,300 ($0.23) since being first traded on UPCoM. With 42 years in business, Viglacera operates in two major sectors: construction materials and real estate. It has been the leading enterprise in the domestic construction materials market and the biggest investor of industrial zones in Vietnam’s northern region. Despite being known for products such as sanitary ware, ceramic and…... [read more]

The shares of Saigon Beer, Alcohol and Beverage Corporation (Sabeco) and Hanoi Beer, Alcohol and Beverage Corporation (Habeco) have continuously increased after being listed on the stock exchanges, according to NDH. Notably, on the first transaction day on December 6, Sabeco’s shares increased by the maximum allowed in a day on the Ho Chi Minh City Stock Exchange (HoSE). Notably, from a reference price of VND110,000 ($4.9), the SAB ticker opened the day already at VND132,000 ($5.84), a 20 per cent increase from the get-go. After eight transactions sessions, Sabeco’s shares increased to VND211,500 ($9.40) apiece, up 92.3 per cent from the launch. The soaring prices made Sabeco become the second largest company on the stock exchanges in term of capitalisation with VND135.63 trillion ($6.03 billion), following Vietnam Dairy Products Joint Stock Company (Vinamilk). Regarding Habeco, on October 28, the company was officially listed on the Hanoi Stock Exchange (HNX)’s UpCom trading platform. As of the closing date of the transaction on December 15, Habeco shares increased to VND201,400 ($8.95) per unit, 5.2 times higher than the initial reference unit price of VND39,000 ($1.78). Habeco currently has a total capitalisation of VND46.7 trillion ($2.08 billion). Vietnam’s largest brewer, Sabeco currently has 24 beer production factories across the country with a total capacity of 1.8 billion litres per year. In the 11 months of this year, the corporation’s consolidated revenue reached VND28.3 trillion ($1.25 billion) with a pre-tax profit of VND5.035 trillion ($222.78 million). The country’s third largest beer producer, Habeco…... [read more]

Sabeco debuts on HCMC exchange Hong Phuc HCMC – Saigon Beer-Alcohol-Beverage Corporation (Sabeco-SAB) on December 6 made its debut on the Hochiminh Stock Exchange and is considered one of the biggest listed enterprises by market capitalization on Vietnam’s equity market. Nguyen Thi Lien Hoa, vice chairwoman of the State Securities Commission of Vietnam, told a ceremony for Sabeco’s stock trading on December 6 that the brewery has become one of the five biggest listed firms by market capitalization. SAB is the 399th listed company on the southern bourse. The firm listed over 641.28 million shares with a face value of VND10,000 each and the reference price at VND110,000 a share. Closing the session on December 6, SAB soared 20% to VND132,000 a share. Sabeco chairman Vo Thanh Ha told the ceremony on December 6 that the listing marks a milestone in the firm’s new stage of development. The listing brings both opportunities and challenges to Sabeco, Ha said. He noted his company met the 2016 profit target in the first nine months of this year. Sabeco has 44 member companies nationwide, including 24 beverage plants. Last year, it sold nearly 1.5 billion liters of beer. The company is making efforts to improve governance and operation to adapt to a new stage of development, Ha said. According to its quarter-three earnings report, Sabeco’s revenue leapt 23% from a year earlier to more than VND7.07 trillion. In January-September, its revenue surpassed VND21.8 trillion, up almost 9% from a year earlier, while its…... [read more]

Saigon Beer, Alcohol and Beverage Corporation (Sabeco)’s shares increased by the maximum allowed in a day on the Ho Chi Minh City Stock Exchange (HoSE) on the first transaction day, according to newswire Tuoitre. Only slightly over 3,000 Sabeco shares changed hands on the first transaction day, but the impressive increase in price agained proven investors’ appetite for Vietnam’s biggest brewer. Sabeco currently ranks among the top five enterprises on the HoSE in terms of capitalisation. The preceding four are legendary dairy producer Vinamilk, PetroVietnam Gas, Vietcombank, and real estate developer Vingroup. Sabeco’s listing also made the share value of its subsidiaries and associated companies soar. Notably, Saigon-Phu Tho Beer JSC (BSP)’s shares increased by VND25,700 ($1.14) to VND48,500 ($2.15) apiece at the transaction day of November 10. In the 10 months of this year, BSP earned VND376.8 billion ($16.67 million) in revenue and VND26.8 billion ($1.86 million) in after-tax profit, signifying increases of 18.2 and 10.3 per cent, respectively. Meanwhile, the shares of Saigon Beer Western JSC (WSB) increased by VND49,900 ($2.21) to VND94,000 ($4.16) apiece at the transaction day of December 5. In the first nine months of this year, WSB’s revenue and after-tax profits amounted to VND638.5 billion ($28.25 million) and VND74.4 billion ($3.92 million), up 11.9 and 5.8 per cent, respectively. Being Vietnam’s largest brewer, Sabeco currently has 24 beer production factories across the country, with a total capacity of 1.8 billion litres per year. In the 11 months of this year, the corporation’s consolidated revenue…... [read more]

Vietnam Airlines plans to issue 191.1 million shares to shareholders at a price of VND10,000 ($0.45) in the first quarter of 2017. Each shareholder who owns 100 shares will be allowed to buy an additional 15.5753 shares. The issue will be made after approval from the State Securities Commission, expected in the first quarter of 2017. 2015 marked a major milestone for the airline, becoming a joint stock company, with the close relationship between the airline and shareholders having a major influence on and playing a key role in its sustainable development. Japan’s largest airline group, ANA Holdings, finalized a deal on May 28 to become a shareholder. Valued at $109 million, the shares represent an 8.771 per cent holding. The deal was signed in the presence of Prime Minister Nguyen Xuan Phuc and Japanese Prime Minister Shinzo Abe in Tokyo. Vietnam Airlines has announced recently that it will trade on the Unlisted Public Company (UPCoM) market from December under the code HVN, with over 1.22 billion shares and a registered stock value of more than VND12.2 trillion ($549 million). The total value of VND12.2 trillion ($549 million) is equal to its registered capital and the 1.22 billion shares have a starting price of VND10,000 ($0.45) per share. Vietnam Airlines’ fleet now stands at 89 aircraft, including two new generation aircraft - the Airbus A350 and the Boeing 787. Its network covers 29 international and 20 domestic destinations, and it conducts 66 flights a week to Narita and Haneda Airports…... [read more]

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