Loss-accumulating firms to be delisted

Saturday, Apr 18, 2015 11:53

Many companies will be delisted from the stock exchange after suffering losses. —  Photo arborinvestmentplanner.com
HA NOI (Biz Hub)  — After suffering losses for the last three years and allowing accumulated losses to exceed chartered capital, 15 companies listed on the Ha Noi Stock Exchange (HNX) will be delisted, said Nguyen Vu Quang Trung, HNX's deputy director general.

Trung made the announcement following the publishing of HNX's report on Tuesday. HNX reported that 349 out of 364 listed companies had published their financial reports. Of those, 339 published them on schedule. That number was equal to 93.1 per cent of all firms – an increase of 5.8 per cent over 2013.

He reported that 32 listed firms – 9.2 per cent of all listed firms – recorded total losses of VND643 billion (US$29.7 million), a decrease of 81.4 per cent over 2013.

Construction firms accrued losses most frequently last year, Trung said.

HNX also reported that 317 listed firms – 90.8 per cent of all listed firms – made a total profit of VND13 trillion ($601.8 million) last year, an increase of 18.4 per cent over 2013.

Of the listed firms that profited last year, industrial firms had the largest proportion, followed by financial firms, mining firms and oil firms.

HNX also reported that 154 of 178 firms that were registered for trading on HNX had published their financial reports. Also, 133 firms, equal to 74.7 per cent of all registered firms, published their reports on schedule – an increase of 7.1 per cent over 2013.

Of all registered firms, 85.1 per cent profited last year with an increase of 27.9 per cent in profits compared with 2013. In addition, the number of registered firms that recorded losses last year accounted for 14.9 per cent of all registered firms, and their losses decreased 45.8 per cent over 2013. — VNS

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