5:22:53 PM | 4/22/2009
Saigon Securities Incorporation (SSI), the leading stock broker in Vietnam, announced that it netted profit of VND30.3 billion (US$1.8 million) in the first quarter of this year, a fall of 73.5 per cent on year.
The company gained VND104.9 billion worth of revenues from securities trading activities and investment profit reached during the period.
As the end of March, SSI’s total assets reached VND5.5 trillion, including VND4.1 trillion of equity and VND651.8 billion of fund and retained profit.
Recently, the HCM City-based broker has officially boosted its registered capital by 9 per cent to VND1.53 trillion by converting 1.6 million bonds, with ANZ and Daiwa Securities Group as foreign strategic shareholders, holding 18 per cent and 10.54 per cent stake, respectively.
SSI shares, listed on the country’s main stock exchange, rose for 10 consecutive trading sessions. They closed down 5 per cent at VND42,000 on April 20.
Bao Viet Securities Co, the biggest broker in the Hanoi Stock Exchange, has also reported profit of VND3.7 billion in the first three months.
Last year, up to 70 per cent of the local securities companies suffered loss due to market slump. (Vietnam Economic Times, Securities Investment)
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