Vietnam Exchange to Put Control over Four Loss-making Listed Firms
The Ho Chi Minh Stock Exchange (HOSE), Vietnam’s main exchange, announced that it would add an additional four listed companies to the watchlist after they made big losses last year.
The Refrigeration Electrical Engineering Corp. (REE), Bien Hoa Sugar JSC (BHS), Vitaly JSC (VTA) and Viet-Han Investment and Production JSC (VHG) will be specially monitored by the exchange from February 9 after their losses.
REE, one of the exchange’s blue-chips, made a loss of VND139.3 billion (US$8.2 million) in 2008 although it obtained a pretax profit of VND9.7 billion on gross revenues of VND327.9 billion in the fourth quarter, the exchange said.
The other three, BHS, VTA and VHG, suffered losses of VND43.3 billion, VND2.8 billion and VND17 billion, respectively.
“These companies will get more attention from the exchange in terms of providing financial and business information,” Deputy General Director of the HOSE Le Nhi Nang said, noting that investors should be careful with their stock transactions.
Le Chi Phuc, head of the Analysis and Consultancy Division of VNDirect Securities Co., said the number of firms that may be put under monitor may keep increasing to 40 firms have yet finished earning reports.
So far, six listed companies have been named in the “black list” for watching, with Bach Tuyet Cotton Co. (BBT) and Saigon Beverage Joint Stock Co. (TRI) earlier. (
www.hsx.vn, Vietnam Economic Times), Vietnam Economic Times)
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