HCMC – Only 40% of listed firms on the southern bourse and roughly 21% of those on the northern exchange have submitted their third-quarter financial reports to the stock watchdogs although the deadline of October 26 has now passed.
By Thanh Thuong - The Saigon Times Daily
HCMC – Only 40% of listed firms on the southern bourse and roughly 21% of those on the northern exchange have submitted their third-quarter financial reports to the stock watchdogs although the deadline of October 26 has now passed.
In all, only 200 listed firms have made the reports, comprising 109 on the southern exchange and 90 on the northern one, compared to the respective numbers of 272 and 374 listed firms. The general reason behind the delay is not known, but it seems the lower-than-expected results keep them from making the reports timely.
Although, listed company had to submit financial report before October 26, however, only 109 firms, in total 272 companies list on Ho Chi Minh Stock Exchange, released.
Of those reports available from both exchanges, 15 companies reported losses, with ten of them being securities companies. The others are in the construction, real estate, and seafood industries.
The securities companies explained that the gloomy business coupled with stagnant stock trade in this quarter have pushed them into the red.
Meanwhile, in the banking industry, four have announced third-quarter results, namely Vietcombank (VCB), Sacombank (STB), Asia Commercial Bank (ACB), and Eximbank (EIB), all reporting profits higher than those in the year-ago period.
VCB made a pre-tax profit of more than VND4 trillion, or over US$200 million, up 20% year on year, while EIB saw its after-tax profit surge 37.7% to VND1.23 trillion.
Le Anh Thi, deputy general director of Au Viet Securities, said that the third-quarter results might not be accurate, as many enterprises might not report all profits but carry them over to the fourth-quarter results since third-quarter reports are not audited as per regulations.