Some listed companies have announced their financial reports and the amount of idle cash they own is over a billion USD. For example, PetroVietnam Gas Corporation (PV GAS - stock code GAS) achieved total revenue last year of VND86,755 billion and pre-tax profit of VND14,276 billion.
Notably, by the end of 2023, PV GAS owned the largest amount of cash and bank deposits, the largest cash equivalent on the stock exchange, with VND 40,752 billion (nearly USD 1.7 billion), an increase of more than VND 6,000 billion after one year. This figure also accounts for more than 46% of the total assets of this enterprise. With an abundant amount of money, last year, this enterprise received nearly VND 2,027 billion from interest on deposits and loans. In contrast, PV GAS's interest expense for the whole year was also nearly VND 340 billion.
Another enterprise, Binh Son Refining and Petrochemical Joint Stock Company (stock code BSR) - the unit managing Dung Quat Oil Refinery - announced that in 2023, it achieved revenue of more than VND 147,000 billion, down 12% compared to 2022 and profit after tax reached VND 8,455 billion, down 42% compared to the record level of 2022 but still the second highest level in the company's history of operations.
By the end of 2023, BSR had total assets of nearly VND 86,500 billion, of which cash and bank deposits, equivalent to cash equivalents, amounted to more than VND 38,000 billion, an increase of about VND 13,100 billion compared to the beginning of the year. This is the reason why the company earned nearly VND 1,600 billion in interest from bank deposits in 2023 (in 2022, it earned VND 907 billion).
Or Mobile World Investment Corporation (stock code MWG) achieved a full-year revenue of nearly VND 118,280 billion, down 11%, and a net profit of nearly VND 168 billion, down 96% compared to 2022. However, the amount of cash deposited in banks reached a record high of more than VND 24,300 billion, accounting for 42% of the company's total assets by the end of 2023. Thanks to that, in 2023, Mobile World earned VND 1,828 billion in interest, 2.1 times higher than in 2022. It can be seen that this amount also contributed greatly to helping MWG make a profit last year. However, MWG still borrowed with the outstanding debt balance at the end of the fourth quarter of 2023 of the enterprise being VND 25,114 billion. The total interest expense last year was VND 1,448 billion, much lower than the interest on the above deposits.
Similarly, according to the consolidated financial report for the fourth quarter of 2023, the accumulated net revenue of the whole year of Vietnam Airports Corporation (stock code ACV) reached a total revenue of VND 20,032 billion, an increase of 45% and profit after tax of nearly VND 8,572 billion, an increase of 18% compared to 2022. As of December 31, 2023, ACV's total assets were over VND 67,129 billion, an increase of 12% compared to the beginning of the year. Of which, ACV's cash, bank deposits and cash equivalents were VND 28,738 billion, accounting for 43% of total assets. This helped the company receive more than VND 1,636 billion from interest on deposits last year...
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