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Tag Archive for ‘Profit’

MoIT stake sale’s main lure: VEAM

The Ministry of Industry and Trade has announced plans to divest from six firms under its management from now until 2020, most notably, in this year’s sell-off of Vietnam Engine and Agricultural Machinery Corporation stock. Last week, a list of six firms slated for partial and complete divestment was released by the Ministry of Industry […]

Tax agencies in Vietnam ramp up anti-transfer pricing measures

The more aggressive enforcement of transfer pricing laws may make life harder for multinational companies in Vietnam who do not carefully follow the tax authority’s guidance. Having entered into force on May 1, the government’s Decree No.20/2017/ND-CP provides specific guidance on the tax administration of enterprises with related party transaction. The decree is expected to […]

Vietnam Business Briefs November 14, 2012

* Dinh Vu Port Investment & Development JSC. (DVP) announced November 26 as ex-date and November 28 as record date for 2012 interim cash dividend payment. The firm will pay dividend at VND2,000/share on December 14, 2012. * Phuc Tien Trade Manufacture JSC. (PHT) reported its current outstanding shares as at November 8 as follows: […]

SAM: Swings to 23b dong Consolidated Net Loss in Q3/2012

Cables and Telecommunication Materials Corporation (SAM) swung to a consolidated net loss of VND23.4 billion in Q3/2012 from VND1.7 billion net profit a year ago, the firm said in its quarterly financial statements. The STC-listed company generated consolidated net revenue of VND207.4 billion in the quarter, up 37 percent compared to VND151.4 billion a year back. Despite higher sales, the company’s lower profit was mainly attributed to the provision of VND27.6 billion for financial investments in the period, the firm said in a filing posted on the STC’s website on November 12. In 9M/2012, the firm made a consolidated net profit…

PVS: Consolidated Net Profit Rises 21pct to 352b dong in Q3/2012

PetroVietnam Technical Services Corporation (PVS)’s saw 21.3 percent rise in consolidated net profit to VND351.8 billion in Q3/2012 from VND290.2 billion a year ago, the firm said in its financial statements posted on the HNX’s website. The company generated VND6.7 billion consolidated revenue in the quarter, higher than VND6.4 billion over the same period of last year. In the first nine months of this year, PVS posted VND987 billion consolidated net profit on VND181 trillion revenue, up 36.2 percent and 3.4 percent from VND724.6 billion and VND17.5 trillion a year before, respectively. The firm had total consolidated assets of VND22.4 trillion at the…

Vietnam approves Carlsberg to raise Habeco stake to 30pct

Vietnam has informed the Danish government that Carlsberg A/S (CABGY) can increase its stake in a government-controlled local brewery, the Vietnamese trade and industry ministry said. In a statement over the weekend, the ministry said it had informed Danish prime minister Helle Thorning-Schmidt, who led a delegation that visited Carlsberg target Hanoi Beer Alcohol & […]

Infrastructure Projects In Vietnam Remain Inaccessible To Private Investors

Private investors can all see great potentials in infrastructure projects. However, a lot of things still need to be done to turn the potentials into reality. Le Quoc Binh, General Director of the HCM City Infrastructure Investment Joint Stock Company (CII), when asked about the opportunities in infrastructure projects, said there are numerous projects, but […]

Groundhog Day With Vietnam Banks’ Bad Debts

Banks’ bad debts are again under the spotlight. For example, in late 2012’s third quarter, Sacombank’s bad debt rate hiked sharply from 0.57 per cent by the end of 2011 to 1.4 per cent. Albeit the bank’s provision amount in the third quarter fell more than 23 per cent against that in second quarter to […]

Vietnam Bank Restructuring Should Continue Apace: Experts

The State Bank of Vietnam has confirmed that four commercial banks – GP Bank, Navibank, TrustBank and Western Bank – will be restructured by the end of this year because of their weak liquidity. The central bank has not, however, revealed what steps the four banks will take in their restructuring process. Experts agree the move will help improve the quality of the banking system, but say it should have happened earlier. Economist Bui Kien Thanh said, “The restructure should have been done sooner. Amidst low liquidity, the weak banks may offer high deposit interest rates to raise funds, causing…

Iron-Ore Rebound Boosts STX With Record Chinese Imports: Freight

China, which imports more iron ore than the rest of the world combined, will buy a record amount this quarter, easing concern about the engine of global economic growth and extending a two-month rally in shipping rates. Capesizes, carrying more ore than any other vessel class, will earn $12,000 a day in the first quarter, says Arctic Securities ASA, a bank in Oslo whose recommendations on shipping stocks returned 17 percent in a year. Investors may profit from that because freight swaps for the period are trading at $8,500. Fourth-quarter shipments will rise 5.5 percent from a year earlier to…