Gas station operator Petrolimex is the firm with the highest revenue in the local stock market, according to the business magazine Forbes Vietnam.— Photo baocongthuong.com.vn

HÀ NỘI — Gas station operator Petrolimex is the firm with the highest revenue in the local stock market, according to the business magazine Forbes Vietnam.

The announcement was made at a ceremony to announce Việt Nam’s best 50 listed companies in 2017 held on Thursday in HCM City.

In 2016, Petrolimex posted nearly VNĐ123 trillion (US$5.46 billion) in revenue, paying a 32 per cent dividend to shareholders. In the first half of 2017, the firm earned VNĐ74.2 trillion in revenue and VNĐ1.77 trillion in net profit.

Petrolimex started trading its 1.29 billion shares on the HCM Stock Exchange on April 21, 2017 under code PLX at VNĐ49,390 per share, equal to market capitalisation of VNĐ63.9 trillion, among the top 10 companies in terms of market capitalisation.

The company’s market capitalisation has increased to more than VNĐ80 trillion after four months of listing. PLX finished Friday at VNĐ68,300 per share.

Other big names included in Forbes’ list were the budget carrier Vietjet Air and brokerage Sài Gòn Securities Inc.

More than 322 million shares of Vietjet were traded on the HCM Stock Exchange from February 28, 2017 under code VJC. The share price has gained 30 per cent to close Friday at VNĐ137,700.

In the first six months of 2017, Vietjet recorded VNĐ16.4 trillion in revenue and VNĐ1.8 trillion in post-tax profit, with the latter figure increasing by 45 per cent year on year.

In the financial sector, Sài Gòn Securities Inc (SSI) was among eight financial-banking-insurance firms included in the top 50, the fourth year in a row SSI has made the list.

SSI topped the brokerage sector with the largest market share, revenue, profit and total assets on both the HCM City and Hà Nội market.

In the first six months of the year, SSI held 14.85 per cent of the market share on the southern exchange and 12.18 per cent on the northern bourse.

The company posted VNĐ1.24 trillion in its six-month revenue and VNĐ735 billion in pre-tax audited profit. The figures respectively increased by 13.9 per cent and 27.6 per cent from a year ago.

According to Forbes Vietnam, the top 50 listed companies on both local exchanges is equal to 60 per cent of total market capitalisation.

Their total revenue was VNĐ734.8 trillion, a yearly increase of 55 per cent, and total profit reached VNĐ79.4 trillion, a yearly rise of 49 per cent.

The list was made using the companies’ data and information about their revenue, profits, growth rates and development prospects.

More opportunities for Vietnamese businesses

According to specialists at the Business Forum 2017, local companies can now approach new opportunities in domestic and overseas markets after two decades of accumulating capital and developing.

Local firms could make breakthrough development if they take advantage of Industrial Revolution 4.0, with the biggest challenge whether they can seize opportunities in a fast-changing world.

Don Lam, founder and chief executive of asset management firm VinaCapital, said Việt Nam has advantages in a young population and a strongly-spreading start-up spirit.

The development of the start-up community is not only the duty of the Government but also a matter for the whole country, he said.

According to Binod Chaudhary, chairman of Nepal-based Chaudhary Group, technology offers a lot for local companies, especially start-ups, and the Industrial Revolution 4.0 will push parts of the market to worth together and transparently.

The development of technologies has broken all existing rules and limits in the business community, helping expand businesses worldwide instead of spending six or seven years to enter new markets.

Young company leaders are advised to develop their own foundation, be passionate for what they are doing and never stop learning from older leaders.

Nguyễn Trung Tín, general director of Trung Thủy Group, said that younger generations should put themselves in the position of their elders to understand the way a company runs.

According to HSBC Vietnam general director Phạm Hồng Hải, a worthy young business leader should be able to maintain the existing corporate culture, absorb new trends from the world and treat other people well. — VNS