Many companies on the stock exchange hold large amounts of cash, but this has been on a downward trend over the past year. On the contrary, many companies have rapidly increased their surplus cash, climbing higher on the list of 'rich people' with a lot of money.
Many businesses have abundant cash and it will continue to increase after 2024 - Photo: QUANG DINH
After many years at the top of the list with the most cash on the stock exchange, PetroVietnam Gas Corporation (GAS) has just dropped its position. The list includes many names that are rapidly increasing their cash.
PV GAS is no longer the 'cash king'
According to statistics from the financial report, PV GAS had nearly 33,000 billion VND (approximately 1.3 billion USD) in cash at the end of 2024, mainly deposited in banks. This number is large, but has decreased by more than 7,700 billion VND after 1 year.
Due to the decrease in cash flow, GAS's deposit interest income last year reached VND1,466 billion, down nearly 28%. The decrease in financial revenue somewhat affected the overall business results. Last year, GAS's after-tax profit reached VND10,590 billion, down 10% compared to the previous year.
Meanwhile, Binh Son Refining and Petrochemical (BSR) has cash and bank deposits of more than VND43,000 billion (approximately nearly USD1.7 billion), up nearly 13%. Previously, GAS often took the lead and BSR was far behind.
Last year, with a "mountain" of bank deposits, BSR's interest received reached VND1,248 billion. Although the amount of bank deposits increased, the interest received by BSR decreased by 22%.
Most likely due to lower interest rates or businesses increasing the amount of non-term deposits and original terms of no more than 3 months, so interest rates are lower.
Regarding BSR's deposit balance, it should be noted that by the end of 2024, the financial report still recorded VND 2,734.7 billion deposited at Oceanbank (now Vietnam Modern Bank) with suspended transactions.
BSR's Board of Directors has repeatedly assessed that this amount of money will be transacted again in the future when there are specific regulations from the State Bank. But in reality, year after year, the amount of money is still "hanging" there.
2024 is the first year BSR moves to the HoSE floor, but business results are not very positive when returning to its "new home".
Revenue in 2024 reached 123,027 billion VND, down nearly 17% compared to 2023. Profit after tax "evaporated" by 93%, to 585 billion VND.
Mr. Nguyen Viet Thang - General Director of BSR - said that although the gap between products and crude oil prices in the fourth quarter of 2024 was better than the previous third quarter, it was still much narrower compared to the same period last year. This was the main reason for the loss of VND 89 billion in the consolidated report.
Revealing the company with the most cash on the floor
Two other large enterprises, Vinhomes (VHM) and Vingroup (VIC), also increased their cash very quickly.
At Vinhomes, the financial report shows that the company has more than 32,000 billion VND in cash by the end of 2024, nearly doubling after one year.
At Vingroup, the amount of money reached nearly 48,000 billion VND (nearly 1.9 billion USD), a sharp increase compared to the beginning of the year. This figure also puts billionaire Pham Nhat Vuong's company in the lead in terms of cash on the stock market.
An equally "impressive" increase in cash occurred at Mobile World (MWG), chaired by Nguyen Duc Tai. At the end of 2024, MWG had more than VND24,600 billion in cash and money in banks earning interest (nearly USD1 billion), up 16% compared to the beginning of the year.
Other investments, representing MWG's holdings of bonds and other interest-bearing term investments, also skyrocketed from VND2,644 billion to VND9,530 billion.
Thanks to the huge amount of money, Mobile World recorded VND 1,837 billion in interest on deposits in 2024. Note that this business also incurred very large loans, so MWG still had to pay VND 1,137 billion in interest expenses.
Overall, 2024 is a fairly favorable business year for Mr. Tai's company after a period of restructuring and closing down ineffective stores. The stock price has reflected this increase, after one year, MWG's market price has increased by 35%, bringing "sweet fruit" to shareholders.
Also at the end of 2024, FPT Group had nearly 31,100 billion VND of idle money, mainly deposited in banks, an increase of nearly 28% compared to the end of 2023.
Meanwhile, Hoa Phat Group (HPG) of billionaire Tran Dinh Long recorded idle money of nearly VND25,900 billion, down nearly 25% in the context of expanding production with the Dung Quat 2 mega project.
Statistics based on the financial report of the fourth quarter of 2024, a series of other enterprises also hold a huge amount of cash, cash equivalents, and deposits in banks up to tens of thousands of billions of VND such as: ACV, VEAM, Duc Giang Chemicals, Vinamilk...
Source: https://tuoitre.vn/nam-bien-dong-tai-san-dai-gia-viet-xuat-hien-vua-tien-mat-moi-san-chung-khoan-20250131122426061.htm
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