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Vietnam's SSI says 2007 net rises threefold
Saigon Securities Inc, Vietnam's top brokerage, said on Monday its net profit jumped more than three times to VND858.55 billion (US$53.3 million) last year as revenues also increased threefold.
The Ho Chi Minh City-based firm, known as SSI, said in a statement its revenues soared to VND1.19 trillion last year from VND339.94 billion in 2006, when it had a net profit of VND242.03 billion.
Shares in SSI, 10 percent owned by ANZ and in which Japan's Daiwa Securities Group Incorporation has a 1.25 percent stake, fell 2.03 percent to close at VND145,000 ($9) on Monday before it released the unaudited results.
SSI is valued at $1.1 billion, the sixth-largest firm on the Ho Chi Minh Stock Exchange .VNI where it started trading on Oct. 29, 2007, having moved from the over-the-counter Hanoi Securities Trading Center .HASTCI.
The top broker firm also underwrites share and debt issues and advises state-run companies on privatisation.
SSI aims to increase its net profit by 16 percent to VND1.21 trillion on revenues of VND1.83 trillion this year.
Last month, state media quoted SSI Chairman Nguyen Duy Hung as saying the firm would list on the Singapore stock market this year. Hung did not give a date.
Thanhnien
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