return icon

Glut of companies struck with Q1 losses

VietNamNet Bridge – Over 60 listed companies, most of which are brokerage companies and firms operating in the shipping and building material sectors, reported losses during the first quarter of this year.
VietNamNet Bridge – Over 60 listed companies, most of which are brokerage companies and firms operating in the shipping and building material sectors, reported losses during the first quarter of this year.

In the securities sector, draining liquidity on the stock market saw brokerage revenues for most companies shrink, with small securities businesses in general losing out to larger firms. The top 10 securities firms now hold 60-70 per cent of market share in the brokerage sector.

Sacombank Securities (SBS) was the heaviest loser in the first quarter with a loss of VND15 billion (US$714,300), while Dong A Securities (DAS) followed with a loss of VND6.5 billion ($310,000). Vina Securities and Maritime Bank Securities also reported losses of around VND5 billion ($238,100) each, reports Tri Thuc Tre.

Smaller banks including Mirae Asset Viet Nam, Phu Hung (PHS), Nam An, Hong Bang, Mekong, Navibank Securities and Sai Gon Berjaya also reported losses from tens of million of dong to one billion dong.

Meanwhile, weak consumption and demand also shrank both production and sales of building material firms. The operational costs of these businesses are often high due to their large number of employees as well as extensive business branches.

Affiliate companies of the Viet Nam Glass and Ceramics Corp (Viglacera) were hit hardest as six of their seven businesses reported losses in the first three months, including Viglacera Dong Trieu (DTC), Viglacera Dong Anh (DAC), Viglacera Ba Hien (BHV), Viglacera Tien Son (VIT), Viglacera Tu Son Ceramic (VTS) and Viglacera Ha Long I (HLY).

Only Viglacera Ha Long (VHL) posted a net profit of VND7.8 billion ($371,400).

Besides Viglacera, other building materials companies also bore heavy losses including Pomina Steel (POM), Dong Nai Roofsheet and Construction Material (DCT), Vicem Hoang Mai Cement (HOM) and Taicera Enterprise (TCR) with a loss from VND11 billion ($523,800) to VND40 billion ($1.9 million).

While many shipping enterprises are undergoing restructuring and have gained initial positive results, some are still incurring losses as low revenues could not offset expenses.

Viet Nam Ocean Shipping (VOS) topped the losers with a huge loss of nearly VND97 billion ($4.6 million). Some reported smaller losses such as Vitranschart (VST), Vinaship (VNA), South Viet Nam Container (VSG) and Vinaconex Transportation (VCV), losing from VND10 billion ($476,200) to VND43 billion (around $2 million).

Source: VNS


Experts warn Vietnamese banks of risks following US banks’ collapse

If bond issuers fall into insolvency, the price of bonds could fall to zero, creating a high risk for banks.

Hanoi to resume tourism services on West Lake

Hanoi may resume 12 tourism services on the West Lake including boat transportation, after six years of suspension.

Car imports from Thailand still hold largest market share in Vietnam

Thailand once again led the market in terms of value and the number of CBU (complete built unit) cars imported to Vietnam in February 2023.

Deputy PM holds bilateral meetings on sidelines of UN 2023 Water Conference

Deputy Prime Minister Tran Hong Ha had bilateral meetings with many foreign leaders on the sidelines of the UN 2023 Water Conference, which is taking place in New York from March 22-24.

Vietnam temporarily suspends import, circulation of 15 types of medicines

The Drug Administration of Vietnam (DAV) under the Ministry of Health (MoH) has just issued an official dispatch on suspending the import, distribution, circulation and use of 15 types of medicines produced by Arena Group S.A. of Romania.

EVN urged to negotiate with renewable energy investors to fix electricity price

The Ministry of Industry and Trade has urged the Electricity of Vietnam (EVN) and investors of transitional solar and wind plants to negotiate and agree to fix electricity prices before March 31.

Two arrested in 11kg drug transport from France to HCM City case

The Ho Chi Minh City Department of Public Security has just arrested two people involved in the case of transporting over 11 kilograms of narcotics and ecstasy from France to Tan Son Nhat International Airport, Vietnam.


Renowned Vietnamese artists collaborate on unique porcelain artworks


Dragon fruit export turnover reaches 47 million USD

Boxer beats Spainish rival to advance to World Championship’s semifinals

Vietnamese boxer Nguyen Thi Tam trounced Spanish rival Laura Fuertes 5-0 in the women's light flyweight category to advance to the semifinals of the IBA Women’s World Boxing Championships in New Delhi.

Ministry of Health warns of possible outbreaks of dangerous diseases

In its yesterday’s official dispatch to people's committees of provinces and cities on organizing the implementation of the 2023 epidemic prevention plan, the Ministry of Health warned of possible outbreaks of dangerous diseases.

Another enterprise issues bonds, real estate bonds increase in value

A real estate firm has successfully raised funds by issuing VND4.7 trillion worth of corporate bonds. Just days before, another real estate firm also successfully issued VND2.3 trillion worth of bonds.

Stock market violations to face stricter sanctions

The State Securities Commission (SSC) will review the Law on Securities and related decrees to complete the legal framework, and strengthen sanctions for violations to protect the legitimate rights and interests of investors.

Association calls for pilot implementation of battery-powered taxis

The Hanoi Taxi Association is urging for the pilot implementation of battery-powered cabs to reduce environmental impact and stay abreast of global trends.

Vietnam strives to eliminate malaria once and for all

The Ministry of Health has announced plans to review, amend, and supplement professional guidelines to ensure nationwide implementation and assess the National Strategy for Malaria Prevention, Control, and Elimination by 2020.