Securities Firms Make Big Profit, Eye Capital Raised

Securities companies in Vietnam are making very big profit despite unexpected fluctuations since the beginning of this year, Dau Tu Chung Khoan newspaper reported Thursday.

 

Saigon Securities Inc (SSI) took the leading position among local securities companies after reporting revenue of VND1.13 trillion and profit of VND805.5 billion in the first ten months.

 

SSI is eyeing to attain total net profit of VND900 billion before by the end of the year, when it raises its registered capital from VND800 billion to VND1.5 trillion.

 

Bao Viet Securities Company (BVSC) ranks second with its revenue totaling VND301.9 billion and net profit VND204.8 billion as the end of September. The VND150-billion company plans to triple capital to VND450 billion.

 

ACB Securities Company (ACBS) reaped VND284 billion of profit as the end of October. It will double its registered capital to VND1 trillion by the year-end.

 

Sacombank Securities Company (SBS) obtained profit of VND141 billion in the January-October period and targets the figure at VND150 billion by the end of the year. SBS has raised its registered capital from VND300 billion ($18.7 million) to VND1.1 trillion in late September.

 

Hai Phong Securities Company (Haseco) said its pretax profit hit VND68.11 billion. It has announced the plan to triple capital to VND200 billion.

 

Dai Viet Securities Company (DVSC) reported its 10-month profit of VND80 billion. It targets to earn more VND20 billion in the remaining two months, when it will raise capital from VND240 billion to VND400 billion.

 

Au Viet Securities Company (AVSC) has operated from early July this year, but the company estimates profit at VND100 billion by the end of December. It also plans to scale up registered capital to VND300 billion to VND600 billion.

 

Kim Long Securities Company (KLS), also a newly-established firm, saw net profit of VND72.3 billion in first three quarters. KLS will lift its registered capital from VND315 billion to VND600 billion in 2008. (Securities Investment)