Brokerages rake it in amid market's woes

The sharp decline of the stock market in the final months of 2018 has had little impact on the yearly business results of securities companies.
Brokerages rake it in amid market's woes ảnh 1Investors watch stock indices at Bao Viet Securities Company’s trading floor in Hanoi (Photo: VNA)

Hanoi (VNS/VNA) - The sharp decline of the stock market in thefinal months of 2018 has had little impact on the yearly business results ofsecurities companies.

The VN-Index, Vietnam’s benchmark stock index, set an all-time peak of 1,211points in April 10 last year, but then suffered a sharp decline of 27 percent,to reach 888 points on October 30. The index continued to decline then hit asix-month low of 878.22 points on January 3.

In 2018, securities firms still saw rising profits. The 30 largest securitiescompanies in the market recorded pre-tax profit of nearly 9.4 trillion VND, up25 percent compared to 2017’s figure of 7.5 trillion VND.

The total profit of the 10 largest companies exceeded 7.4 trillion VND.

Of them, the three largest companies with biggest market shares, namely Sai GonSecurities Inc (SSI), Techcombank Securities (TCBS) and Viet Capital SecuritiesCompany (VCSC), totalled pre-tax profit of more than 4.2 trillion VND or about45 percent of total profit of securities firms in the market.

SSI earned 1.6 trillion VND, up 15 percent year-on-year. VCSC attained 1.02trillion VND, up 26 percent against 2017. HSC recorded 842 billion VND, up by22 percent compared to the previous year.

Some smaller companies recorded huge increases in profit like FPT SecuritiesCompany (FPTS), up by 149 percent to touch 543 billion VND, thanks to therevaluation of its investment in the Song Hong Garment JSC (MSH).

IB Securities Company (IBSC) saw profit surging by 162 percent while that of MBSecurities Company (MBS) soared 738 percent. Kis Viet Nam SecuritiesCorporation (KIS)’s profit rocketed by 1,184 percent. VPBank Securities Company(VPSC)’s profit climbed 75 percent.

Virtually not participating in the stock market, TCBS earned a lot from bonds,seeing profits up by 67 percent, from 917 billion VND to 1.53 trillion VND.TCBS’s 2018 revenue reached 1.87 trillion VND.

On the other side, VNDirect Securities Corporation, Sai Gon – Hanoi SecuritiesJSC (SHS), Bao Viet Securities Company, Thien Viet Securities JSC and ACBSecurities Company recorded lower profits.

VNDirect’s profit dropped 14 percent from 538 billion VND to 462 billion VND whileSHS’s profit decreased by 9 percent to reach 411 billion.-VNS/VNA
VNA

See more

The Lumitel brand is being promoted on walls across Burundi. (Photo: Viettel)

Lumitel – A bright spot in Vietnam-Burundi collaboration

After a decade of operations, Lumitel has become the leading telecommunications provider in Burundi and one of the largest contributors to the Burundian government's budget, providing stable employment for over 60,000 workers and indirectly creating around 100,000 jobs.

Belarusian Deputy Prime Minister Anatoly Sivak speaks at the forum. (Photo: VNA)

Ample room remains for Vietnam - Belarus trade cooperation

To further develop the Vietnam-Belarus economic and trade relationship, it is essential to enhance trade promotion and investment initiatives such as trade fairs, forums, thematic workshops, and trade connections, which serve as an important bridge for businesses from both sides to meet, connect, and seek cooperation opportunities.

The 5th Exhibition of Ho Chi Minh City and Friendship Provinces and Cities in Savannakhet takes place from April 2 to 6. (Photo: VNA)

Vietnam, Laos boost trade at Savannakhet expo

Vice Governor of Savannakhet Saensak Soulisak highlighted the exhibition’s role in expanding trade collaboration, enabling businesses to connect, share experience, and explore investment prospects. He also noted its significance in promoting local products to a wider market.

Visitors at the exhibition (Photo: VNA)

Vietnam Expo 2025 opens, spotlighting digital transformation, innovation

This year’s edition, themed “Step together in a digitised world,” has attracted around 400 businesses from 18 countries and territories, with over 500 booths. Alongside traditional networking, it introduces online business-to-business (B2B) matching, enabling year-round connections.

Prime Minister Pham Minh Chinh speaks at the second meeting of the National Steering Committee for building the private economic sector development project (Photo: VNA)

Private sector encouraged to join major national programmes, projects

It must fully unleash the productive capacity and resources of the country through the private sector; mobilise all private resources for national development; harness the effectiveness of internal forces, including human, natural resources, history, and culture, while effectively combining them with external resources such as capital, technology, human resources, and management experience, he said.

At the annual Vietnam-Cambodia business dialogue in Phnom Penh on April 4 (Photo: VNA)

Annual Vietnam-Cambodia business dialogue held in Cambodia

The annual business dialogue in Cambodia attracted around 150 delegates, including Vietnamese businesses and Vietnamese-origin companies operating in Cambodia across various sectors such as finance, banking, insurance, telecommunications, agriculture, construction, interior design, food services, transportation, logistics, trade, healthcare, and tourism.

Rice is one of Vietnam's exports to Cuba. (Photo: VNA)

Vietnam-Cuba Business Forum held in Hanoi

Addressing the event, Cuban Ambassador Rogelio Polanco Fuentes affirmed that Cuba will always stand alongside the Vietnamese Government and business community in their efforts to achieve the challenging target socio-economic goals.

The private sector is expected to make breakthroughs for national development. (Photo: VNA)

Party official anticipates breakthroughs in private economic sector

With the Politburo set to issue a dedicated resolution on the private economic sector, there should be a reformed approach to action plans, according to Secretary of the Party Central Committee and head of Head of its Commission for Policies and Strategies Tran Luu Quang.

NCSoft and VNGGames sign a cooperation agreement to develop products in Southeast Asia. (Photo: VNG)

More RoK’s game developers target Vietnam

Over half of Vietnam's nearly 100 million population being gamers and the country's competitive labour costs are among reasons for Korean gaming firms' expanding presence in Vietnam.

Representatives from the Vietnamese Embassy in the UK, LHR leaders, airline partners, and passengers at the anniversary event (Photo: VNA)

Vietnam Airlines marks 10 years of UK route operations

Vietnam Airlines launched its direct UK route in 2011, initially operating from London Gatwick Airport (LGW) before transitioning to Heathrow in 2015, improving connectivity to one of the UK’s major international hubs./.