The year 2023 also marks a period where many businesses hold record amounts of cash. According to VietstockFinance, all three exchanges have about 248 companies that hold the highest amount of cash ever recorded (only counting the number at the end of the year).
It should be noted that the table above does not include companies in the financial sector.
Surprising leader
This time, the “Cash King” of the stock exchange is Vietnam Gas Corporation – Joint Stock Company (HOSE: GAS). After a favorable business period, this gas giant holds 40.750 trillion dong in cash, the highest level ever.
The second position also belongs to a giant in the petroleum industry, Binh Son Refining and Petrochemical Joint Stock Company (HOSE: BSR). At the end of 2023, BSR’s mountain of cash reaches a record 38.000 trillion dong, after recording the second highest profit in its history.
Vingroup (VIC) is in third place with nearly 35.000 trillion dong in cash, despite having to raise funds for VinFast. 2023 is also a very challenging year for the conglomerate of billionaire Pham Nhat Vuong, as the real estate market freezes.
Hoa Phat Group (HOSE: HPG) dropped to fourth place, with 34.400 trillion dong in cash. In the past period, Vietnam’s steel king had to spend money on the Dung Quat “steel punch” and by the end of 2023, it had spent 22.500 trillion dong on the project. Hoa Phat said the project has reached 45% progress and is expected to start operations in the first quarter of 2025.
Petrolimex (HOSE: PLX) holds a record amount of nearly 30.000 trillion dong in cash. In the past year, the business activities of Vietnam’s leading petroleum trading company have improved, but have not returned to pre-pandemic levels.
Vietnam Airlines Corporation (UPCoM: ACV) dropped to fifth place, with 28.700 trillion dong. The mountain of cash has gradually decreased this year as this giant had to invest money in the Long Thanh Airport project and the T3 terminal project at Tan Son Nhat Airport.
FPT Corporation (HOSE: FPT) also impressed with 24.300 trillion dong in cash, ranking 6th. Slightly behind is Mobile World Investment Corporation (HOSE: MWG) with 24.000 trillion dong in cash. In 2023, the retail king faced difficulties with the sluggish phone and electronics market in the context of a difficult economy and consumers tightening their belts.
In the top 20 “Cash Kings” list of the stock exchange, there are also many other companies that have record cash amounts, such as Vinhomes Joint Stock Company (GVR) with 16.900 trillion dong and Petrovietnam Oil Corporation (OIL) with 15.200 trillion dong.
By Vu Hao
