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2011 was a stormy year of many “big guys”
Some “big guys” – the owners of securities companies once intended to “give up the games” in 2011 because of the “stock market crisis”, but many others could see opportunities in the difficulties.
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| Chair of the Board of Directors of the Saigon Securities Incorporated SSC Nguyen Duy Hung |
The turnover of securities companies dropped dramatically as investors have fled from the stock market, while the stock prices have plummeted which has made the assets of many stock millionaires decrease accordingly.
The owner of a securities company, who has the highest ranking in the list of 500 richest stock millionaires released by VnExpress in 2011, is Chair of the Board of Directors of the Saigon Securities Incorporated SSC Nguyen Duy Hung.
Holding the shares of four enterprises – SSI, Hoang Anh Gia Lai (HAG), Trans-pacific Companyy (PAN) and the Vinh Son-Song Hinh thermopower plant (VSH), but most of Hung’s assets are at SSI (28.7 million shares).
Meanwhile, the profits of SSI, like other securities companies, dropped sharply in the current difficult conditions of the stock market (the company incurred the loss of 13 billion dong after tax in the first nine months of 2011). The SSI share price has dropped by 55 percent in the last 12 months.
The share price falls have led to the decrease of nearly 1300 billion dong worth of Hung’s assets. After the last trading session of 2011, the total stock assets of the “big guy” plunged to 443.5 billion dong, which has put him on the 22nd position in the list of the stock millionaires, a 12 grade fall from the last year.
Another “big guy” who also experienced many ups and downs in 2011 is the Chair of the Board of Director of Kim Long Securities Company Ha Hoai Nam. Ranking the 60th in the list of the richest stock millionaires, Nam’s stock assets have been halved to 135.6 billion dong.
Nam has become better known after he intended to leave the stock market in early 2011. However, the plan to “escape” from the brokerage service of Nam and managers of Kim Long Company failed because it did not receive the support from shareholders.
However, just several months later, a lot of other securities companies had to make the decision that they gave up the brokerage service because of the big difficulties of the market.
After the unsuccessful plan on shifting to other type of business, Kim Long has decided to “take up a defensive position” by depositing 2 trillion dong at banks to get interests.
The decision to make deposits at banks made by Nam and his colleagues has been hailed as a “wise move”. This has helped Kim Long become one of the few securities companies that made profits (it made a profit of 140 billion dong in the first nine months of 2011).
While many people plan to leave the stock market, the owner of Xuan Thanh Group – Nguyen Duc Thuy – decided to take full advantage of the stock price decreases to buy Vincom Securities Company in early April.
Thuy has renamed the securities company as Xuan Thanh Securities Company and has become one of the 200 richest stock millionaires, ranking on the 193rd position. He now holds the volume of shares worth 30.7 billion dong.
Thuy, who has been also very successful as a football boss, has also gained big achievements after jumping into the securities market. Xuan Thanh Securities Company, which once incurred the loss of six billion dong in the first quarter of 2011, made a profit of 7.3 billion dong in the second quarter and then 5.4 billion dong in the third quarter.
The list of 100 stock millionaires also includes the names of many other bosses of securities companies, such as the Chair of the Saigon-Hanoi Securities Company Do Quang Hien (64th), Member of the Board of Directors of KLS Pham Tan Huy Bang (92nd) and Nguyen Manh Hung, the brother of Nguyen Duy Hung (94th).
vietnamnet
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