Most listed foreign companies in Vietnam profitable

Seven out of 10 listed foreign companies in Vietnam have been consistently profitable for the last five years, according to a recent report.

The most profitable has been sugar producer Thanh Thanh Cong – Bien Hoa Jsc (SBT), which reported a profit of VND650 billion last year after rising by 79 percent, according to a report by the State Securities Commission of Vietnam (SSC).

The company, which is among the 30 largest capped stocks on the Ho Chi Minh Stock Exchange (HoSE), also has the biggest market cap among listed foreign firms of VND17.23 trillion ($760.74 million).

It was followed by food company Interfood Shareholding Company (IFS) with a profit of VND155 billion, down 30.5 percent from 2019.

Other foreign companies in the list include Thai plastics producer Siam Brothers Vietnam, which reported a profit of VN67 billion, and aluminum producer Tung Kuang Industrial Jsc (VND66 billion).

Vietnam began to allow foreign companies to list in 2003, and 11 did so, but construction company Full Power Jsc delisted due to losses.