According to our statistics, as of December 31, 2023, there were a total of 20 non-financial companies listed on the stock exchange holding cash (including cash, cash equivalents, and deposits) exceeding 10,000 billion VND.
Among them, PetroVietnam Gas Joint Stock Corporation (PV Gas) is the company with the largest amount of cash on the stock exchange as of December 31, 2023, reaching 40,752 billion VND (nearly 1.7 billion USD). This number increased by more than 6,000 billion VND compared to the beginning of the year and continued to increase by more than 700 billion VND compared to the end of the third quarter of 2023.
With such a huge amount of “fresh money,” PV Gas has earned 2,026 billion VND in interest from deposits in the past year. Therefore, the company earns around 5.5 billion VND in interest per day from bank deposits, which supports its business operations throughout the year.
Ranking second is Binh Son Refining and Petrochemical Company Limited (BSR) with over 38,100 billion VND held as of the end of the fourth quarter of 2023. The company’s cash has increased by 1,630 billion VND compared to the end of the third quarter of 2023 and increased by more than 13,000 billion VND compared to the beginning of the year.
In addition to PV Gas, a number of other oil and gas companies are also holding large amounts of cash, such as Petroleum Vietnam (Petrolimex) (PLX), PetroVietnam Oil Corporation (PV OIL), and PetroVietnam Technical Services Corporation (PTSC).
Notably, in the fourth quarter of 2023, Vingroup Joint Stock Company (VIC) of billionaire Pham Nhat Vuong unexpectedly ranked third on the stock exchange in terms of cash and deposits held, with 34,900 billion VND. This number increased by 6,700 billion VND compared to the beginning of the year and increased by a staggering 13,600 billion VND in just one quarter.
However, Vingroup also recorded a 19,836 billion VND increase in financial borrowings, reaching 213,312 billion VND. Increasing borrowings have helped increase the cash and deposits of this company. The interest income from deposits of this company is about 570 billion VND, while it has to pay more than 4,500 billion VND in interest expenses in 2023.
Similarly, Vinhomes Joint Stock Company (VHM) also recorded a significant increase in cash and deposits of over 10,000 billion VND, reaching 17,900 billion VND. And like Vingroup, Vinhomes also increased its debt by over 10,000 billion VND in the fourth quarter of 2023, which helped the company have a larger amount of cash.
The cash amount of Vinhomes is included in the data of Vingroup.
Hoa Phat Group Joint Stock Company (HPG) is another notable name when its increased borrowing results in an increased cash amount. After consecutive quarterly decreases, the amount of money that Hoa Phat owns at the end of 2023 is nearly 35,000 billion VND, an increase of about 5,000 billion VND compared to the end of the third quarter of 2023.
Hoa Phat lost the “cash king” position to PV Gas at the beginning of this year when the profits of this company plummeted. Despite having a lot of money, the steel tycoon did not pay dividends for two years.
Viettel Global Joint Stock Company (VTG), Dien Quoc World Joint Stock Company (MWG), Dam Cau Mau Fertilizer Joint Stock Company (DPM), Long Son Petrochemicals Joint Stock Company (GVR), and Sabeco Beverage Joint Stock Company (Sabeco) also recorded an increase in cash and deposits compared to the beginning of the year. Among them, Dien Quoc World (MWG) with a large amount of money to deposit in the bank has helped the company remain profitable this year in the context of difficulties in the retail market.
On the other hand, some famous cash-rich companies listed on the exchange such as ACV Joint Stock Company (ACV), FPT Corporation (FPT), Vietnam Dairy Products Joint Stock Company (Vinamilk), and Vietnam Engine and Agricultural Machinery Corporation (VEAM) have witnessed a decrease in cash.
On the other side of the balance sheet, cash-rich companies also have debts. VEAM and Sabeco are the least indebted companies with debts of only a few hundred billion VND.
As mentioned, oil and gas companies including PV Gas, BSR, Petrolimex, PV Oil, and PTSC have a lot of money but their debts are much smaller.
