Business plans are built based on the market forecast but the implementation will be affected by objective factors and companies can change their targets. — Photo sapo.vnViet Nam News HÀ NỘI – Several listed companies want to adjust their business targets for this year with the end of 2018 approaching. Phương Nam Cultural JSC (HOSE: PNC) is seeking shareholders’ approval to boost its net profit target for 2018 to VNĐ162.3 billion (US$6.2 million) from VNĐ20 billion. As a result, the company is expected to make up for the accumulative loss and gain a profit of VNĐ38.7 billion. However, its total revenue target will be adjusted down to VNĐ741 billion from VNĐ800 billion. Ending June, the company earned VNĐ337 billion net revenue and VNĐ7.8 billion net profit. The basis for such a strong adjustment was PNC’s sale of 20 per cent of CJ CGV Vietnam Co Ltd, which operates Việt Nam’s biggest cinema … [Read more...] about Listed VN companies revise business targets
Business targets
Rubber companies set glum business targets
Rubber companies are facing many difficulties this year The price of rubber has been forced down by sharp decreases in the world market price and global demand. The price of rubber on the Tokyo Commodity Exchange fell by 1.1 per cent to $1.57 per kilogramme, equivalent to $1,570 per tonne. One of the reasons dragging down rubber prices is the decreasing oil price. Moreover, at this time of the year exploitations halts, decreasing output. According to the Ministry of Industry and Trade’s Department of Export and Import, in the first five months of this year exported rubber volume increased lightly, but its value reduced. Rubber exports in the first five months were estimated at 424,000 tonnes worth $620 million, up 17.4 per cent in volume but down nearly 20 per cent in value compared to the same period in 2017. The changes in the price of rubber made rubber companies more careful in their business planning, as well as caused concerns for shareholders. At the recent annual … [Read more...] about Rubber companies set glum business targets
BUSINESS IN BRIEF 13/2
Stock markets perform poorly in 2011 Up to 60 percent of listed firms on both stock markets had poor performance, and 85 firms were mired in the red last year, said the State Securities Commission. The final statistics is not yet available though most listed firms have submitted their financial statements. However, SSC said 2011 was a grim year for the economy, especially for the equity market. Listed firms had to grapple with many problems, from higher interest rates to high input costs and difficulties to mobilize funds. Understandably, the number of loss-making enterprises in 2011 was higher than in the previous year: 85 compared to 50. Property companies suffered the most, followed by construction, sea-freight, power generation and financial enterprises. Property companies suffered the most, followed by construction, sea-freight power generation and financial enterprises. Quoc Cuong Gia Lai Joint Stock Co. (QCG) posted the accumulated losses for the whole year of 2011 at … [Read more...] about BUSINESS IN BRIEF 13/2
BUSINESS IN BRIEF 12/2
Tuyen Quang miners to export barites The Government has allowed barites ore exploitation and processing enterprises in the northern province of Tuyen Quang to export about 70,000 tonnes of barites this year after meeting domestic demands, said Hoang Quoc Binh, director of the province's Department of Industry and Trade. Binh expected that exports of barites, used in petrol, chemical and glass production industries, would help the province meet its export target of US$15 million this year. The province currently has six barites ore producers, whose yearly total output reaches roughly 320,000 tonnes. Banks flirt with low interest rates Vietcombank announced on Thursday a reduction of up to 2 per cent in interest rates on loans made in Vietnamese dong, depending on terms. The bank is now posting lending rates ranging from 16 per cent per year for loans made to exporters and manufacturers to 20 per cent per year for loans made to enterprises in non-productive sectors, including … [Read more...] about BUSINESS IN BRIEF 12/2
BUSINESS IN BRIEF 19/12
Business environment needs stability Around 55,000 enterprises in Vietnam may file for bankruptcy by the end of this year but the situation was not overly serious, one official said. Bui Anh Tuan, Deputy Director of the Ministry of Planning and Investment's Business Registration Division, made the comment at a seminar on business development and investment in Hanoi on December 11. "The situation in Vietnam is not really that pessimistic as the country recorded nearly 48, 473 bankrupted enterprises in the first eleven months of the year. This is the same as the rate of from 11%-15% annual bankrupted enterprises in Japan and the US," Tuan said. The country is estimated to have 65,000 new businesses this year, meaning the country will still have 10,000 more operational enterprises during the year, he assessed. However, he admitted that due to the large number of enterprises filing for bankruptcy, it has resulted in a deficiency in state budget revenues this year. Deputy … [Read more...] about BUSINESS IN BRIEF 19/12