31 Aug 2012 Intellasia Finance Vietnam - Hong Kong Business ...

BUSINESS
Vietnam finance & business 31 August 2012
Over 70pct of Hanoi
enterprises posts
losses
NKG earns over 3b
dong profit in 6
months
VNM posts 15.648tr
dong of revenue in 7
months
Motorcycle import
jumps in Aug
This is a part of the signed coal purchasing contract between Vinacomin and VICEM.
Accordingly, COMATCE has registered to buy 130,000 tonnes of coal dust including
many different kinds such as 3cHG (55,000 tonnes), 4aHG (45,000 tonnes), 4bHG
(15,000 tonnes) and 5aHG (15,000 tonnes).
This amount of coal will be handed over in September in 2012.
31/AUG/2012 INTELLASIA | VNMEDIA
Hanoi Department of Taxation has reported that in the first 8 months, over 210 enterprises
in Hanoi dissolved and trillions of companies has been missing leading to a reduction
of 500 billion dong in the State Budget.
The number of enterprises of which revenue increased was very small, with 26,874 enterprises,
down 23 percent year-on-year. Meanwhile, over 47,574 enterprises posted
decreases in revenue, up 94 percent compared with the same period in 2011.
By this time, when declaring corporate income tax, 50,713 enterprises in Hanoi posted
losses, accounting for 71.7 percent of the proportion of enterprises which have submitted
a tax declaration, up 32 percent year-on-year.
These changes resulted from the difficult business situation of enterprises with high
price input materials, inflation, high interest rate, delayed operations, large amount of
inventories and decreasing buying power.
According to Hanoi Department of Taxation, these difficulties from the declining economic
situation have created impacts on State Budget revenue. The receiving progress
in the first 8 months was instable and tended to decrease.
It is estimated that domestic revenue from the start of 2012 till now only reached 79.486
trillion dong, up 3.6 percent year-on-year, equal to 59.2 percent of the state laws estimate
and 58.7 percent of estimate assigned by the Hanoi People's Committee.
31/AUG/2012 INTELLASIA | STC
Nam Kim Steel JSC (coded NKG) has announced its consolidated financial statements
for Q2/2012 according to which NKG reached 790 billion dong of revenue, up 56.7 percent
year-on-year. Its consolidated profit was 53 billion dong, up 8.9 percent. NKG
gained 3.23 billion dong of consolidated profit in Q2/2012.
Cumulatively in H1/2012, NKG's revenue was 1.681 trillion dong, up 29.3 percent compared
with H1/2011. However, NKG's cost of good sold increased by a higher rate
leading to a decrease of 22 percent in its consolidated profit to 102.6 billion dong.
The NKG's pre tax profit reached 3.13 billion dong after 6 months, down 91.3 percent
year-on-year. It has accomplished 24.3 percent of revenue's plan (4.9 trillion dong) and
9 percent of pre tax profit's plan (50 billion dong).
31/AUG/2012 INTELLASIA | VIETSTOCK
Vietnam Dairy Products JSC (Vinamilk - coded VNM)'s revenue in the first 7 months
of 2012 reached 15.648 trillion dong, up 30 percent year-on-year.
According to 2012's plan, Vinamilk try to reach 26.5 trillion dong of revenue which will
surpass the record of $1 billion in 2011.
Vinamilk is the corporation purchasing the most natural milk materials in Vietnam, accounting
for nearly 60 percent of total purchased fresh milk material.
The average purchased milk material output grows by over 10 percent per year. In the
last 7 months, VNM has bought 97,584 tonnes of natural milk, up 18.5 percent year-onyear.
31/AUG/2012 INTELLASIA | VNECONOMY
In June, Vietnam motorcycle import spending suddenly jumped up to 4,000 units with
$7 million in value, up 100 percent in quantity and 130 percent in value compared with
that in May.
However, in July, these numbers got back to 1,790 units of motorcycles and $3 million.
Notably, according to the estimate of General Statistical Office (GSO), the total amount
of imported motorcycle in August will again rocket to 3,000 units, up 1,200 units com-
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