VietNamNet Bridge - Many businesses have been reported as holding trillions of dong in cash. The wealth has allowed them to take the initiative in developing businesses and expanding production.


The list of ‘cash kings’ became clear after listed companies submitted their 2015 finance reports. It includes familiar names such as PV Gas (GAS), Vingroup (VIC), Vinamilk (VNM), PetroVietnam Technical Services Corporation (PVS), Masan (MSN), Phu My Fertilizer (DPM), Kinh Do (KDC), FPT, PVDrilling (PVD), Hoa Phat (HPG) and REE.

The companies in the oil and gas family have the most money. There are about 30 companies which hold trillions of dong in cash, of which oil and gas firms account for 30 percent. 

PV Gas is an enterprise which has the biggest amount of cash, about VND17-20 trillion. The company also has VND6.038 trillion worth of bank deposits and loans for which it can collect interest periodically.

Many businesses have been reported as holding trillions of dong in cash. The wealth has allowed them to take the initiative in developing businesses and expanding production.

PVS is also a member of the oil and gas family which has big amounts of cash. The latest finance report showed that by the end of 2015, PVS had had VND8.118 trillion worth of cash. Phu My Fertilizer and PVDrilling are also familiar names.

In the real estate sector, Vingroup is a familiar name. By December 31, 2015, VIC had reportedly VND7.6 trillion in cash. If counting the investments which bring regular interests, the figure could be VND17 trillion. The company has reportedly increased these investments by 2.5 times.

So have many other businesses. PV Gas, PVS, Phu My, FPT, REE, Vinamilk and KDC, for example, have injected big money into valuable papers which bring stable interests until they reach maturity. This is seen as a good way to invest while waiting for better opportunities.

Masan, a big player in its field, did not cause any surprise when reporting the volume of cash of VND8.3 trillion by the end of 2015, an increase of 61 percent over the year before.

Meanwhile, CotecCons has caused a big surprise when reporting a high volume of cash, which came from business. 

The company was never ranked high among ‘cash kings’, but has seen the highest cash growth rate. By the end of 2015 it had VND970 billion in cash, while it was a minus figure the year before.

Analysts, who compared cash flow reports, commented that not many companies could do what CotecCons could. Except PVTrans, most businesses in the oil and gas sector had the minus net cash flow.

They also pointed out that investors should feel optimistic about other companies which have less money in coffers, saying that the companies have spent money on long term investment strategies. FPT, for example, spent VND3 trillion in investments in 2015, double that of a2014.


NCDT