Illustrative image (Source: VNA) Hanoi (VNA) – Hoa Phat Corporation announced on January 29 that its steel products are now available in 14 countries with a total export volume of nearly 240,000 tonnes in 2018, up 50.97 percent annually. Steel pipes recorded a surge of nearly 70 percent annually. Its total revenue hit 56.5 trillion VND (2.4 billion USD), up 21 percent from 2017. Notably, its post-tax profit rose to an all time high of 8.6 trillion VND, surpassing its target by 7 percent year-on-year. In the fourth quarter, the corporation earned about 14.5 trillion VND in revenue and 1.76 trillion VND in post-tax profit. Construction steel, steel pipes, and plated metal sheets made up 85 percent of its revenue and post-tax profit. Hoa Phat sold a record of more than 3.16 million tonnes of steel, up 5.3 percent from 2017, including 2.37 million tonnes of construction steel and 654,000 tonnes of steel pipe. Construction steel accounted for 23.8 percent of the … [Read more...] about Hoa Phat’s steel export surges in 2018
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Founder of steelmaker Haa Phat relegated from Forbes’ billionaire list
Tran Dinh Long, founder of steelmaker Hoa Phat Group, has been knocked off the Forbes list of the world’s billionaires. — Photo cafef.vn The founder of Viet Nam’s largest steelmaker Tran Dinh Long has been knocked off the Forbes list of the world’s billionaires after shares in Hoa Phat tumbled 30 per cent from the peak recorded in March. According to Forbes’s real-time rankings, Viet Nam now had three billionaires, including Pham Nhat Vuong, chairman of Vingroup, with a net worth of US$6.7 billion (ranking 220th), Nguyen Thi Phuong Thao, chairwoman of low-cost carrier Vietjet with a net worth of $2.6 billion (ranking 879th) and Tran Ba Duong, founder of Truong Hai Auto, with a net worth of $1.7 billion (ranking 1,332nd). Long was included in Forbes list of the world’s billionaires in March when shares in Hoa Phat peaked at VND48,000 ($2.1) per share. At that time, Long had a net worth $1.3 billion. Since then, shares have fallen to VND34,000 as of … [Read more...] about Founder of steelmaker Haa Phat relegated from Forbes’ billionaire list
Shares recover after two day decline
A strong cash flow poured into large-cap stocks during the ATC trading session helped the benchmark VN-Index recover nearly six points, returning to level 1,170 points. Investors follow stock movement at Bao Viet Securities Company in Ha Noi.-VNS Photo Viet Thanh The VN Index on the HCM Stock Exchange rose 0.51 per cent on Thursday to close at 1,173.02 points, reversing from its two-day decline of 3.1 per cent. Nearly 180 million shares were traded on the southern bourse, worth VND6 trillion (US$233 million). The market trading condition was positive with 157 gaining stocks against 131 declining ones and 67 others ending flat. Large-cap stocks performed well to boost the southern exchange as the large-cap VN30 Index increased by 0.55 per cent to 1,143.50 points. Eightteen of the 30 largest-cap stocks by market capitalisation in the VN30 basket advanced, included Masan Group (MSN), steel producer Hoa Phat Group (HPG), property developer Vingroup (VIC), Vincom Retail JSC (VRE), … [Read more...] about Shares recover after two day decline
VN Index nears 1,200 points on real estate, construction
Viet Nam’s benchmark VN Index made a three-day increase to near the all-time peak of 1,200 points yesterday on strong growth of property developers and building contractors.— Photo vietnamplus.vn Viet Nam’s benchmark VN Index made a three-day increase to near the all-time peak of 1,200 points yesterday on strong growth of property developers and building contractors. The VN Index on the HCM Stock Exchange gained 0.57 per cent to end at 1,199.96 points, totalling a three-day growth of 1 per cent. The benchmark index made a weekly gain of nearly 2.2 per cent with four gaining sessions of the five trading days of this week. More than 252 million shares were traded on the southern bourse, worth VND7.38 trillion (US$328 million). The market trading condition was positive with 169 gaining stocks and 130 decliners while 41 others ended flat. The real estate and construction industries were among the best performers yesterday with their indices up 1.2 per cent and 1 per … [Read more...] about VN Index nears 1,200 points on real estate, construction
VN-Index firm amid profit-taking
Viet Nam’s benchmark VN-Index was steady on Tuesday as stocks were hit by strong selling and investors were concerned with the movement of the world stock market.— Photo vietnambiz.vn Viet Nam’s benchmark VN-Index was steady on Tuesday as stocks were hit by strong selling and investors were concerned with the movement of the world stock market. The benchmark VN-Index on the HCM Stock Exchange ended almost flat at 1,159.39 points compared to its previous ending level of 1,159.22 points on Monday. The VN-Index has gained total 3.2 per cent in the last seven consecutive sessions following the latest slight increase. More than 214 million shares were traded on the southern exchange, worth VND6.32 trillion (US$281 million). The market breadth was negative as the market was overwhelmed by declining stocks, which outnumbered gainers by 186 to 113. The VN-Index slowed down its growth towards the end of the session after it surpassed the 1,160-point level, touching 1,166.33 … [Read more...] about VN-Index firm amid profit-taking