Super rich guy, trillions deposited in bank to earn interest

A cash-rich giant is Hoa Phat. As of the end of the first quarter of 2023, cash and cash equivalents amounted to VND7,868 billion, a slight decrease compared to the beginning of the year. Of which, cash and bank deposits were about VND2,276 billion.

In particular, Hoa Phat's investment amount due to maturity is up to VND27,420 billion, an increase of more than VND1,000 billion compared to the beginning of the year. This amount is term deposits at commercial banks.

In total, Hoa Phat is depositing more than 29,600 billion VND in the bank.

According to the Financial Report of the first quarter of 2023 of Vietnam Oil and Gas Technical Services Corporation (PVS), the amount of cash and cash equivalents amounted to VND 5,271 billion. Of which, bank deposits (including foreign currencies) were VND 3,654 billion. Another amount of VND 1,607 billion was explained by PVS as deposits in VND with an original term of no more than 3 months at commercial banks.

In addition, PVS also has VND4,925 billion in term deposits in the form of short-term financial investments. Thus, the total amount of money PVS is depositing in banks is up to VND10,196 billion.

Enterprises have excess cash in banks of tens of thousands of billions of dong. (Photo: Hoang Ha)

At Vietnam National Shipping Lines (MVN), as of March 31, total assets reached VND26,978 billion, a slight increase compared to the beginning of the year. Of which, cash was over VND1,364 billion, cash equivalents were over VND790 billion. These amounts were deposited by MVN for terms of 1-3 months at commercial banks.

In addition, MVN's financial investments due to maturity by the end of the first quarter of 2023 reached more than VND6,600 billion. According to MVN, this amount is deposited at commercial banks with terms of 6-12 months.

During the quarter, MVN also earned VND93.2 billion from interest on deposits and loans. Thus, the total amount of money MVN deposited in banks reached more than VND8,000 billion.

Business News

The stock market has a number of other important events of listed companies.

* PSI: On May 10, the State Securities Commission decided to fine PetroVietnam Securities JSC VND 85 million for failing to report on a remedial plan within 30 days from the date of failure to meet the regulations on maintaining licensing conditions.

* FLC: FLC's Board of Directors approved the transfer of all 401.5 million Bamboo Airways shares to Mr. Le Thai Sam. Thus, FLC completely withdrew capital from Bamboo Airways.

* FPT: FPT Corporation has just announced a resolution to pay dividends for 2022 at a rate of 25% (10% in cash and 15% in shares).

* VIC: Vingroup has just passed a resolution on contributing capital to establish a subsidiary with main business activities in real estate. The new enterprise is called NYV Development JSC, headquartered in Hai Phong.

* KDH: On May 11, Khang Dien House Investment and Trading JSC announced the dissolution of two indirect subsidiaries, Nguyen Thu Real Estate Development JSC and Lien Minh Real Estate Investment and Trading LLC.

* BMP: Binh Minh Plastics JSC announced the closing date for the second cash dividend payment in 2022, with a payout ratio of up to 53%. With 81.9 million outstanding shares, BMP is estimated to pay about VND 434 billion. The expected implementation date is June 12.

* SAB : Saigon Beer - Alcohol - Beverage Corporation announced the closing of the list of shareholders to pay additional cash dividends for 2022. SAB will pay the third cash dividend of 2022 at a rate of 15%. With nearly 641.3 million shares in circulation, it is estimated that SAB needs to spend about VND962 billion for this dividend. The expected payment date is July 7.

* DRL: Hydropower - Power 3 Joint Stock Company will finalize the list of shareholders to receive the remaining 2022 cash dividend on May 22, with a dividend rate of 16%. With 9.5 million outstanding shares, it is estimated that DRL needs to spend VND 15.2 billion for this dividend payment. The implementation time is May 30.

* DXL: DXL shares of Lang Son Tourism and Import-Export JSC suddenly increased to the ceiling price for dozens of sessions. From VND2,900 (April 12), DXL increased to VND15,500 (May 12), equivalent to an increase of 434% within 1 month.

VN-Index

At the end of the trading session on May 12, VN-Index increased by 9.78 points (+0.93%) to 1,066.9 points. HNX-Index increased by 0.69 points to 215.1 points. UpCOM-Index increased by 0.92 points to 80.05 points.

According to SHS Securities, in the trading session of May 15, VN-Index may continue to recover with the target of 1,070 points (peak of May 8). Short-term investors should limit new purchases during this period and if they have a high proportion of stocks in their portfolio, they can take advantage of the recovery to bring the proportion back to a safe level.

IRS Securities believes that the long-term trend of the market is still sideways, accumulating within a wide range of 1,000-1,120 points. However, in the short term, the uptrend with weak cash flow creates opportunities for short-term speculative transactions.

Chairman and family members rush to sell shares From chairman to general director and family members of business leaders are racing to register to sell shares.

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