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Top 10 events of stock companies in 2010   2011-01-02 - Dau tu chung khoan

Securities companies have experienced a year full of difficulties. Dau tu chung khoan highlights the most noteworthy events of the companies.

 

Securities companies land in the bourse

 

Though 2010 is considered the unfavourable year for the stock market, 14 securities companies still decided to list their shares on the bourse by the end of the year.

 

Hanoi bourse is the place many securities companies chose to list their shares. Most of the securities companies are public companies and they deposit stocks at the Depository Centre. In order to create favourable conditions for stock transactions, securities companies have to put the stocks into transactions on UpCom (market of unlisted companies) and list shares on the official bourses. To date, 25 securities companies have had their shares listed  on the bourses.

 

The listing of many securities companies in 2010 has forced the prices of securities companies’ prices down. HPC, for example, is trading at 9700 dong per share, CLS at 8300 dong, TAS 9300 dong, lower than the face value of 10,000 dong per share.

 

Key personnel changed

 

The year 2010 witnesses a lot of changes in the posts of general director and deputy general director  at securities companies. The gloomy stock market put managers in high demand, because companieshope new managers can help improve their business.

 

Nguyen Quang Vinh has left Bao Viet Securities to become CEP of Saigon-Hanoi Securities Company. Pham Duc Thang has been appointed as CEO of Kenaga Vietnam. E Viet has appointed Pham Ngoc Thang as the CEO. Hoang Xua Quyen has left Tan Viet for the post of CEO of Lien Viet Securities Company.

 

Freelance securities brokers not allowed

 

On May 17, the State Securities Commission released a document, requesting securities companies not to hire securities brokers on short-term contracts?.

 

The decision was released in the context when many securities companies use freelancers who are not listed in the payroll of the company. The brokers introduce clients to the companies and get commissions from the service.

 

Securities company impose heavy fine on new service

 

VNDirect (VNDS) was fined 100 million dong, because it provided the service which was not among the allowed services (option service). This is the heaviest fine so far.

 

In 2010, some securities companies opened the trading floors for OTC share transactions and they then had to shut down the trading floors

 

Vincom Securities closes Hanoi branch

 

The event drew much attention, because VIncom Securities company is a public company listing its shares on the Hanoi bourse.

 

The decision shows the stiff competition on the stock market. VIX share has seen the prices drop continuously in the last trading sessions, now traded at 9000 dong per share.

 

Securities companies allowed to manage investment portfolios

 

This is one of the new articles in the amended Securities Law which has been approved by the eighth National Assembly’s session. The new regulation creates conditions for securities companies to provide more services to investors.

 

VNDS appoints the youngest CEO

 

Nguyen Hoang Giang, 24, has been appointed by VNDS Securities Company as the CEO of the company. Taking office in October 2010, this makes him the youngest CEO of a securities company.

 

VNDS was established in 2006 and has the chartered capital of 1000 billion dong.

 

Gold trading floors and order taking agents shut down

 

In 2010, the State securities Commission instructed securities companies to shut down order taking agents and not to serve as the agents for gold trading floors

securities companies gives investment consultancy

 

OTM, an education and communication company has been found as an imposter, when it used Thang Long securities Company’s name to provide securities consultancy service through SM|S 6733. The event was warning about frauds in the stock market.

 

Many securities companies delay capital mobilization plan

 

As the stock market is gloomy, many securities companies have to delay their plan to mobilize capital from the public.

 

Trang An TAS plans to increase the chartered capital from 139 billion dong to 300 billion dong, Tan Viet from 350 billion dong to 500 billion dong.



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