boiman
06-05-2009, 05:38 PM
The hardest period for securities companies is not over, but they have gotten some good news of late.
Securities companies renewing themselves
Some securities companies have reportedly made profit, some others have reported successful deals with foreign investors. Meanwhile, a lot of securities companies have set up plans to increase chartered capital.
In early 2009, the State Securities Commission announced that 35 securities companies must increase chartered capital to have the required level. However, most of the companies could not increase capital; they had to cut some services.
24 securities companies reportedly had to cut services. 14 reportedly cut the service of providing guarantees for securities issuances, while 16 companies do not have the right to trade securities themselves anymore, and two companies cut brokerage and consultancy services.
A lot of securities companies have sold stakes to foreign investors.
On April 29, the State Securities Commission (SSC (http://www.vietstock.com.vn/vstfinance/StockDetail.aspx?scode=SSC&q=SSC)) released a decision, accepting the deal of transferring 10% of the chartered capital of Hoa Anh Dao Securities Company to foreign organisations. Under the deal, Japan’s Aizawa Securities will get 594,500 shares to hold 14.5% of the stakes of the Vietnamese company, and Japan Asia Holding will also get 594,500 shares.
On the same day, SSC (http://www.vietstock.com.vn/vstfinance/StockDetail.aspx?scode=SSC&q=SSC) released a decision, accepting the capital contribution by Quang Huy Investment Consultancy Company to Phu Hung Securities Company. The securities company will issue shares to raise chartered capital from VND100bil to VND135bil, while Quang Huy will purchase 1,785,000 shares, or 14.7% of chartered capital.
A securities company which has drawn a lot of attention recently is Tan Viet Securities Incorporated, which completed the chartered capital increase from VND128bil to VND350bil on April 29. The company’s strategic shareholder is a well-known name, Saigon Bank.
Seeking profit
It is expected that 39,463,400 shares of HCM City Securities Company (HSC (http://www.vietstock.com.vn/vstfinance/StockDetail.aspx?scode=HSC&q=HSC)) will soon debut on the HCM City bourse.
HSC (http://www.vietstock.com.vn/vstfinance/StockDetail.aspx?scode=HSC&q=HSC) proves to be confident about the success of the listing, as it was one of the few securities companies which made profit in 2008 (VND23.5bil). It also made profit in the first quarter of 2009.
Bao Viet Securities Company ([url="http://www.vietstock.com.vn/vstfinance/StockDetail.aspx?scode=BVS&q=BVS" target=_blank>BVS), now listing on the Hanoi bourse, and Kim Long Securities Company (
Securities companies renewing themselves
Some securities companies have reportedly made profit, some others have reported successful deals with foreign investors. Meanwhile, a lot of securities companies have set up plans to increase chartered capital.
In early 2009, the State Securities Commission announced that 35 securities companies must increase chartered capital to have the required level. However, most of the companies could not increase capital; they had to cut some services.
24 securities companies reportedly had to cut services. 14 reportedly cut the service of providing guarantees for securities issuances, while 16 companies do not have the right to trade securities themselves anymore, and two companies cut brokerage and consultancy services.
A lot of securities companies have sold stakes to foreign investors.
On April 29, the State Securities Commission (SSC (http://www.vietstock.com.vn/vstfinance/StockDetail.aspx?scode=SSC&q=SSC)) released a decision, accepting the deal of transferring 10% of the chartered capital of Hoa Anh Dao Securities Company to foreign organisations. Under the deal, Japan’s Aizawa Securities will get 594,500 shares to hold 14.5% of the stakes of the Vietnamese company, and Japan Asia Holding will also get 594,500 shares.
On the same day, SSC (http://www.vietstock.com.vn/vstfinance/StockDetail.aspx?scode=SSC&q=SSC) released a decision, accepting the capital contribution by Quang Huy Investment Consultancy Company to Phu Hung Securities Company. The securities company will issue shares to raise chartered capital from VND100bil to VND135bil, while Quang Huy will purchase 1,785,000 shares, or 14.7% of chartered capital.
A securities company which has drawn a lot of attention recently is Tan Viet Securities Incorporated, which completed the chartered capital increase from VND128bil to VND350bil on April 29. The company’s strategic shareholder is a well-known name, Saigon Bank.
Seeking profit
It is expected that 39,463,400 shares of HCM City Securities Company (HSC (http://www.vietstock.com.vn/vstfinance/StockDetail.aspx?scode=HSC&q=HSC)) will soon debut on the HCM City bourse.
HSC (http://www.vietstock.com.vn/vstfinance/StockDetail.aspx?scode=HSC&q=HSC) proves to be confident about the success of the listing, as it was one of the few securities companies which made profit in 2008 (VND23.5bil). It also made profit in the first quarter of 2009.
Bao Viet Securities Company ([url="http://www.vietstock.com.vn/vstfinance/StockDetail.aspx?scode=BVS&q=BVS" target=_blank>BVS), now listing on the Hanoi bourse, and Kim Long Securities Company (