Nguyen Duy Hung, chairman of Saigon Securities Incorporation’s directors’ board, who is among over 100 entrepreneurs accompanying State President Nguyen Minh Triet to pay historical visit to the ex-foe, has just signed a US$500 million contract with Credit Suisse, Vnexpress.net reported Wednesday.
The SSI chairman toured the US to seek strategic partners for his company’s long-term operations and to mobilize US$500 million for SSI’s investment fund management company, state media said.
Established in 2000, SSI led by ambitious captain Hung who was foreign-trained specializes in diversified services with three key ones including securities investment consulting, portfolio management and corporate finance advising.
SSI was listed the biggest profit gainers among 55 securities investment companies in Vietnam in Jan-Mar of this year. SSI posted VND465 billion (US$29 million) profit during the period.
This year, SSI expects to earn after-tax profit of VND800 billion (US$50 million).
So far, SSI consulted a series of Ho Chi Minh bourse-listed companies to complete procedures to raise their registered capital including the Refrigeration Electronically Engineering Corp (REE), Cables and Telecommunications Material SJ Co. (SACOM), General Forwarding & Agency Corp. (Gemadept), An Giang Fisheries Import Export SJ Co. (AGF), and the Bien Hoa Confectionary Corp. (BBC).
SSI consulted the privatization plans for many state-owned enterprises in the fields of construction, petroleum, aviation, brewery, post and power.
Saigon Securities Inc was rated the biggest securities broker in the Hanoi Securities Trading Center in the first quarter 2007, with its brokerage market share accounting for 17 per cent of the total. (Vnexpress.net)
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