Petrolimex tops Forbes’ Vietnamese companies list

Gas station operator Petrolimex is the firm with the highest revenue in the local stock market, according to the business magazine Forbes Vietnam (Photo: baocongthuong.com.vn)

The announcement was made at a ceremony to announce Vietnam’s best 50 listed companies in 2017 held in HCM City this week.

In 2016, Petrolimex posted nearly 123 trillion VND (5.46 billion USD) in revenue, paying a 32 percent dividend to shareholders. In the first half of 2017, the firm earned 74.2 trillion VND in revenue and 1.77 trillion VND in net profit.

Petrolimex started trading its 1.29 billion shares on the HCM Stock Exchange on April 21, 2017 under code PLX at 49,390 VND per share, equal to market capitalisation of 63.9 trillion VND, among the top 10 companies in terms of market capitalisation.

The company’s market capitalisation has increased to more than 80 trillion VND after four months of listing. PLX finished September 15 at 68,300 VND per share.
Other big names included in Forbes’ list were the budget carrier Vietjet Air and brokerage Sai Gon Securities Inc.

More than 322 million shares of Vietjet were traded on the HCM Stock Exchange from February 28, 2017 under code VJC. The share price has gained 30 percent to close September 15 at 137,700 VND.

In the first six months of 2017, Vietjet recorded 16.4 trillion VND in revenue and 1.8 trillion VND in post-tax profit, with the latter figure increasing by 45 percent year on year.

In the financial sector, Sai Gon Securities Inc (SSI) was among eight financial-banking-insurance firms included in the top 50, the fourth year in a row SSI has made the list.

SSI topped the brokerage sector with the largest market share, revenue, profit and total assets on both the HCM City and Hanoi market.

In the first six months of the year, SSI held 14.85 percent of the market share on the southern exchange and 12.18 percent on the northern bourse.

The company posted 1.24 trillion VND in its six-month revenue and 735 billion VND in pre-tax audited profit. The figures respectively increased by 13.9 percent and 27.6 percent from a year ago.

According to Forbes Vietnam, the top 50 listed companies on both local exchanges is equal to 60 percent of total market capitalisation.

Their total revenue was 734.8 trillion VND, a yearly increase of 55 percent, and total profit reached 79.4 trillion VND, a yearly rise of 49 percent.

The list was made using the companies’ data and information about their revenue, profits, growth rates and development prospects.-VNA