Petrolimex recorded VNĐ3.9 trillion in its audited combined post-tax profit for 2017, down 24 per cent from the previous year. — Photo trithucvn.netViet Nam News HÀ NỘI — The Vietnam National Petroleum Group (Petrolimex) has reported that its audited combined post-tax profit for 2017 had dropped by more than VNĐ1.23 trillion (nearly US$55 million) compared to 2016. Petrolimex recorded VNĐ3.9 trillion in its audited combined post-tax profit for 2017, down 24 per cent from the previous year. The reason was that the growth of cost of goods sold or cost of sales had exceeded its revenue growth by five per cent due to the rapid increase in crude prices. Cost of goods sold or cost of sales is an accounting term that refers to the direct costs attributable to the production of goods in a company. This amount includes the cost of raw material to produce the goods along with the direct labour costs. It excludes indirect expenses such as distribution … [Read more...] about Petrolimex loses 24% in post-tax profit in 2017
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The share price of the Hanoi Beer Alcohol Beverage Corporation (Habeco) should be calculated carefully and based on a number of factors, several securities firms in Vietnam have said. “The eventual price of Habeco needs to be referenced with the book value of the Hanoi-based brewer and other companies within the beverage sector,” Mr. Nguyen Kim Cuong, stock analyst at Dong A Securities Company, told VET. Carlsberg reportedly agreed to buy Habeco share at a price of VND48,000 ($2.11) during the session with Habeco and officials from the Ministry of Industry and Trade (MoIT). CEO Mr. Tayfun Uner was quoted by Bloomberg as saying that the Danish giant could buy at a price of VND50,015 ($2.2); the price it paid in 2008 to become a strategic shareholder by securing 16.07 per cent, increasing its holding to 17.51 per cent afterwards. A stock analyst at Maritime Securities Incorporation (MSI) told VET that the negotiated price largely depends on the price that Carlsberg wants. … [Read more...] about Habeco’s price needs careful calculations
VietNamNet Bridge - President of Vicostone Artificial Stone JSC Ho Xuan Nang is expected to become the fourth richest stock millionaire with stock asset value of VND6 trillion. Analysts have said Vicostone shares, or VCS, could bring the bring the highest profits to investors this year. President of Vicostone Artificial Stone JSC Ho Xuan Nang is expected to become the fourth richest stock millionaire with stock asset value of VND6 trillion. VCS is one of a few shares that increased strongly in price in the first 10 months of the year. The share was hunted by investors after the company twice paid a high dividend of 20 percent, gave bonus shares once and paid dividends in shares once. VCS now has the market price of VND131,000 per share which means a capitalization value of VND7.86 trillion. VCS price has increased by 10 times in the last three years thanks to impressive business performance. Official reports show that Nang only holds 513,417 VCS, or 0.86 percent of the company’s … [Read more...] about Is there a new face on the list of stock millionaires?
In the Mekong Delta, it has been a bumper summer-fall crop of rice. However, farmers are unhappy because rice is priced low or not sold.Rice down in price, up in stock Though unhusked rice is sold at VND4,100 to 4,200 per kilogram in Hau Giang Province, VND1,500/kg lower than three or four months ago, merchandisers are not interested in it. According to scientists' calculation, farmers must reap a profit of over 40 percent to cover their living expenses, while they are making only 14-15 percent this crop. Until Tuesday, Hau Giang farmers harvested 400,000 tons of unhusked rice, an increase of 22,500 tons over last year, and they have 300,000 tons in stock. Farmers can store unhusked rice for only 15-30 days. Duong Van Chau, a farmer in Tra Vinh Province, said the unhusked rice price has dropped from VND5,500 to VND4,900 per kilogram. Farmers won't make profit if they reap five tons per hectare and sell at VND5,000/kg for they have to spend VND26 million per hectare on farming … [Read more...] about Mekong Delta Has Lots of Rice in Stock
"We recommend investors focus on bluechips whose prices were not heated in January" The market in January illustrated a fundamental difference with the VN-Index not reflecting the common trend of a majority of stocks on the market. The index rose, while over 50 per cent of tickers lost points. Ignoring five stocks that contributed the most to the rise of VN-Index, liquidity on the two exchanges probably bottomed over the past year. The market needs strong signals to boost its recovery expectations. From pure macroeconomic perspectives, February will not offer many opportunities. After the Lunar New Year, over 50 per cent of firms will continue to announce quarter IV/2010 and 2010 earnings. However, what happened in 2010 might be repeated in 2011 with the market not reacting to earning announcements when the macroeconomy was under pressure. In our view, inflation will continue to be the key for other policy adjustments, especially forex and interest rates. After the year's … [Read more...] about Caution needed amid a tricky Feb