SSI, a leading securities company in Vietnam

 

SSI’s chartered capital hit VND500 billion in late 2006 and climbed to nearly VND1.2 trillion by the end of 2007. By December 31, 2007, SSI’s equity was estimated at VND4,048 billion while its total assets were valued at VND6,134 billion and pre-tax profit reached VND950 billion. SSI has opened two branches in Hanoi, two in Ho Chi Minh City, one in Haiphong and has four transaction offices.

 

SSI is not simply a securities company, but is gradually developing into a shareholding company with the late 2007 debut of wholly SSI invested Fund Management Company. In the coming time, SSI will set up independent joint stock companies by separating services of securities broker, securities deposit and investment consultancy, securities trading and securities issuance guarantee. Specifically, SSI will continue organising and operating under the shareholding company form. The parent company will operate in corporate finance consultancy in the direction of developing services of investment banks. Subsidies will comprise SSI Securities Services Company operating in investment consultancy and broker; SSI Fund Management Company and some other subsidies. “SSI targets to develop into a leading finance group, following the example of Investment Bank in Vietnam with competitive activities of investment and investment consultancy, issuance and issuance guarantee, as well as capital mobilisation and management. SSI will also cooperate with local and foreign strategic partners to develop SSI in the direction of globalisation, partner and product diversification”, according to a message issued by SSI Chairman of Board of Directors to shareholders in the annual report 2007.

 

Especially, after over a year of being listed on the stock exchange, SSI’s shares have been one among shares with the biggest transaction volumes and highest liquidity in the market. SSI has issued share volume reached over 136.66 million, worth VND7,722 billion as of March 31, 2008.

 

In order to enhance its competitiveness, SSI plans to scale up its registered capital. The company’s Board of Directors November 14, 2007 held a meeting to ratify a plan to issue more shares so as to raise the chartered capital to VND2 trillion. Share issuance will be made three times, the first in December of 2007. The mobilised capital will fuel business activities and improve issuance guarantee capacity. SSI will focus on services of Securities Broker, Finance Consultancy and Issuance Guarantee; and Investment and Fund Management Services. SSI will also continue expanding its operations by launching more branches in Vung Tau, Nha Trang and Ho Chi Minh City, and opening additional transaction offices in Hanoi and Ho Chi Minh City.

 

SSI not only succeeds in business operations but also makes great contributions to community development. In 2007, SSI committed to fund VND10 billion to build boarding schools for ethnic minority pupils in northern mountainous Lao Cai province, financed VND2 billion for the Vietnam Study Stimulation Fund to build schools and grant scholarships to pupils in Son La, Lai Chau and Dien Bien; gave financial support to flood-hit central provinces and Can Tho bridge collapse victims; funded the Poor Patient Sponsoring Fund and people undergoing organ transplants; and sponsored Math Olympics 2007 and scholarships to excellent students of banking sector. This year, SSI will spend a large amount of money helping poor people and supporting other community activities.