In the consolidated financial report for the second quarter of 2023 of Phat Dat Real Estate Development Corporation (code: PDR), Chairman of the Board of Directors Nguyen Van Dat only received a salary of VND 966 million in the first 6 months of the year, equivalent to about VND 161 million/month.
Such remuneration is much lower than that of other members of the board of directors such as Mr. Bui Quang Anh Vu, General Director (2.8 billion VND), Mr. Nguyen Dinh Tri, Deputy General Director (1.2 billion VND) and Ms. Tran Thi Huong, Vice Chairwoman of the Board of Directors (1.6 billion VND).
In general, in the first 6 months of the year, the remuneration of PDR leaders decreased sharply compared to the same period last year. In the first 6 months of 2022, Mr. Dat received a remuneration of more than 6 billion VND, 2.7 billion VND higher than Mr. Bui Quang Anh Vu and 3.79 billion VND higher than Ms. Tran Thi Huong.
The sharp decrease in income of Phat Dat's management board in the first 6 months of the year reflects that the business context of this enterprise is still facing many difficulties.
According to the audited financial report, in the first half of 2023, Phat Dat recorded revenue of VND 195 billion, down 87% year-on-year. However, thanks to financial revenue through the transfer of subsidiaries, Phat Dat had a profit after tax of VND 298 billion, down 57% year-on-year.
In 2023, Phat Dat aims to achieve VND 2,800 billion in total revenue and VND 850 billion in pre-tax profit. Thus, after the first half of the year, Phat Dat has only completed 7% of the revenue plan and 35% of the profit plan.
On the market, at the end of the trading session on August 31, PDR shares reached 24,800 VND/share.
Business News
The stock market also has a number of other important events of listed companies.
* HNX: According to the periodic financial report on the Hanoi Stock Exchange (HNX), Vua Nem Joint Stock Company made a profit of more than 3 billion VND in the first half of 2023, while in the same period it lost nearly 55 billion VND.
Vua Nem currently has in circulation a bond lot with code VUNCH2224001, term of 24 months, issued on May 26, 2022, completed issuance on June 30, 2022 and will mature on May 26, 2024.
* TTE : According to the audited semi-annual financial statements of 2023, due to losses from joint ventures and associates, Truong Thinh Energy Investment Joint Stock Company (TTE) had a net loss of nearly VND 8 billion, while its self-prepared financial statements showed a net profit of more than VND 6 billion.
* PHS: The Board of Directors of Phu Hung Securities Corporation (PHS) approved a series of decisions on credit limits as well as credit extensions at many banks. The total estimated value is over VND 1,782 billion.
* CC1: According to the audited consolidated financial statements for the first half of 2023 of Construction Corporation No. 1 (CC1), CC1's audited net profit for the first half of 2023 was VND 19.5 billion, an increase of 218% compared to the self-prepared report.
* VDL: According to the Resolution of the 2023 Annual General Meeting of Shareholders of Lam Dong Food Joint Stock Company (VDL), this year the company continues its business plan under pressure from rising raw material prices, with an expected pre-tax loss of VND 9.3 billion.
Transaction information
* ITA: On August 30, Tan Tao Investment and Industry Corporation (ITA) announced information about the divestment of capital from Tan Tao 2 Energy Corporation (TEC2) due to force majeure. ITA and TEC2 could not continue to implement the Kien Luong 1 project, forcing Tan Tao Company to divest all capital from TEC2 to reduce losses for investors. The amount of money ITA contributed to TEC2 was nearly 418 billion VND.
* SHN: Mr. Tran Van Minh is no longer a major shareholder of Hanoi General Investment Joint Stock Company (SHN) after selling 6 million shares in the session on August 29.
* TVS: Ms. Dinh Thi Hoa, former Vice President of Thien Viet Securities JSC (TVS) has just reported the successful purchase of nearly 5.9 million shares through negotiation, increasing her ownership ratio to 13.4 million shares, equivalent to 8.84%. The transaction was conducted from August 21-29, 2023.
* IDP: The largest foreign shareholder of International Dairy Products Joint Stock Company (IDP), Daytona Investments Pte. Ltd. (headquartered in Singapore), successfully purchased more than 2.4 million IDP shares issued privately on August 28. The purchase price was VND254,044/share.
* SHS: Mr. Nguyen Chi Thanh - Deputy General Director of Saigon - Hanoi Securities Corporation (SHS) has divested all of more than 1.1 million SHS shares. Trading period from August 7-24, 2023.
VN-Index
At the end of the trading session on August 31, VN-Index increased by 10.89 points (+0.9%) to 1,224.05 points, HNX-Index increased by 1.79 points (+0.72%) to 249.75 points, UpCOM-Index increased by 0.64 points (0.18%) to 93.32 points.
According to VPS Securities, the stock market in September will have positive developments with high liquidity maintained as it is now. The trend of VN-Index in September will return to the 1,250 - 1,280 point area. Trading developments in the first week of September are likely to remain positive with the increase of many groups of technology, oil and gas, retail, finance stocks...
Sacombank Securities (SBS) believes that the most important factor is that interest rates are being maintained at a low level. Not only that, the State Bank is forecast to continue to reduce operating interest rates, and the unattractive deposit channel has been promoting cash flow into the stock market.
However, with the stock market having gone through a very long recovery journey since the beginning of the year, the stock price level is no longer cheap, and the risk of short-term surfing has also increased.
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