LookAtVietnam – Since the stock prices keep decreasing, the huge assets
of stock billionaires have eroded.
Multi-billions of dong vanished into the air
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In the list of the 10 richest stock billionaires in 2010 includes familiar names
such as Doan Nguyen Duc, Chair of the Hoang Anh-Gia Lai Group, who is holding
the volume of HAG shares worth 11,366 billion dong, or 583 million dollars, and
Dang Thanh Tam, Chair of the Saigon Investment Group (SGI) who has 4,042 billion
dong worth of shares.
The list also includes a newly emerging name – Pham Nhat Vuong – the member of
the board of directors of Vincom and Vinpearl, who is holding the VIC and VPL
share volume with the market value of over 15,215 billion dong, or 780 million
dollars. Tran Dinh Long, Chair of the Hoa Phat Group and Ha Van Tham, Chair of
the Dai Duong Group both have also been named in the list.
At the time when the 2010 list of stock billionaires was released, the top 10
richest stock billionaires held the volume of shares worth 27 trillion dong, or
50 percent of the total share value in the market.
On July 25, the market witnessed a 3-year new record, when the trading volume of
the two Hanoi and HCM City bourses was just 305.8 billion dong, far below the
500 billion dong threshold, which is considered the safety line. The HNX Index
not only has dropped dramatically to the deepest low which was once seen in the
2009 crisis.
A question has been raised that what has happened with the assets of the stock
billionaires, when the stock index keeps falling? General Director of big
securities company said he keeps indifferent to the information about the assets
of the billionaires.
“I personally have never been interested in the ranking of stock billionaires.
The share holders just simply represent their enterprises. They cannot sell
shares at any times they want, therefore the shares they are holding are just
“virtual money”,” the director said.
He has also affirmed that securities investors never care about the assets of
stock billionaires and their rankings.
However, the director, who acts as the investor, manager of a securities
company, and a businessman as well, said that it is undeniable that the majority
of the shares being held by the top 10 “big guys” in the stock market are the
blue chips, and that they are the persons holding the shares with the highest
capitalization value in the market. And whether one likes it or not, there
always exists a quiet race for the high rankings.
The director went on to say that with the current downtrend, the assets of a lot
of billionaires have been “evaporated”. A lot of shares have seen the prices
decreasing significantly. HAG, for example, is now traded at 34,000 dong per
share instead of 77.500 dong, while the price of KBC has dropped from 33,000
dong to 17,400 dong, PDR from 33,900 to 24,600 dong.
However, some shares have seen the prices increasing, including VIC, the price
of which has increased from 94,000 to 107,000, or VPL, from 41,000 to 90,000 and
MSN from 71,000 to 96,500 dong.
What will the 2011 list of stock billionaires be like?
The director has revealed that though some businessmen are considered one of the
richest stock billionaires, in fact, they do not keep such the assets, because
their shares or real estate have been mortgaged at banks for bank loans.
It would not be a surprise at all if one day, the directors of chairs of big
companies are found as bogging down in debts. “They are leading their
enterprises, and it is their responsibility to maintain the normal business,
despite the current big difficulties.
“If calculating the liabilities and assets, and inventories, one would see that
the assets of many enterprises have been eroded,” he said.
An expert, who asked to be anonymous, has predicted that there would be no
considerably changes in the names and the ranking of the top 10 stock
billionaires in 2011. “Real estate firms’ owners would still get high positions
in the list of stock billionaires, and their assets may still increase. However,
new names would appear in the next two or three years – the businessmen in
consumer goods production,” he predicted.
Source: Tien phong